Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory & buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.

4 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.

"Unfortunately so much commentary is self-serving or sensationalist. Pete Wargent shines through with his clear, sober & dispassionate analysis of the housing market, which is so valuable. Pete drills into the facts & unlocks the details that others gloss over in their rush to get a headline. On housing Pete is a must read, must follow - he is one of the better property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete Wargent is one of Australia's brightest financial minds - a must-follow for articulate, accurate & in-depth analysis." - David Scutt, Business Insider, leading Australian market analyst.

"I've been investing for over 40 years & read nearly every investment book ever written yet I still learned new concepts in his books. Pete Wargent is one of Australia's finest young financial commentators." - Michael Yardney, Australia's leading property expert, Amazon #1 best-selling author.

"The most knowledgeable person on Aussie real estate markets - Pete's work is great, loads of good data and charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, and author of the New York Times bestsellers 'End Game' and 'Code Red'.

"Pete's daily analysis is unputdownable" - Dr. Chris Caton, Chief Economist, BT Financial.

Invest in Sydney/Brisbane property markets, or for media/public speaking requests, email pete@allenwargent.com

Thursday, 14 June 2012

Moving in...

After 18 months of travel and serious itinerancy, moving into a new pad on Saturday in Sydney CBD. I’ve never lived in the actual city itself before - only at Darling Harbour - so very excited about this.

On Level 26 of a tower block so some awesome views and hopefully high enough up to be away from street noise!

These inner-city pads can make for decent investments and can generate high yields, especially when rented out as furnished short-term lets. BUT, be vigilant and wary of a possible oversupply of units coming on the market though (cf.Melbourne).

Two things to be extremely cautious about:

1)      Financing – if the unit is less than 40sqm in size, depending on the prevailing sentiment, banks may at only lend around 80% loan-to-value ratio (LVR) on the property (meaning that you need a chunky 20% deposit)

2)      High strata fees - can be eye-watering, as much as $10,000 per annum for an executive unit such as this. Not nice.