Hi I’m new and spent last 3 days clicking through. Great meta tags steve – very easy to find. Liked the MP3 file on home page (1st I’ve seen) . Need to expand this message box though.
Got a lot of questions answered but many have just given rise to more.
I’m 27 only been working for 3 years (many years in uni) on a graduate wage and im the 30% tax bracket and spent that getting burned gearing (-ve unfortunatly in managed funds (internat at that). Thought i might revaluate and try property.
Edited by – [email protected] on 23/01/2003 4:09:34 PM
(ok got hang of this now)
So I ment to +ve gear the funds but just as i got them they tanked and i didnt have the heart to sell out so spent the time learning about what whent wrong while waiting for the next boom to come (2004-8??). mean while i save up for deposit on something. Anyway I digress.I’m eligable for 1st home owners grant and a number of (fun managers) say dont buy prop for the grant. Q: the way i see it $7000 is free after tax money and there must be a way to take advantage of it. even though it requires living in apartment for 1 year?.
I’m currently renting an apartment that cost the landlord $100 000 for $150/week ($70 if i get a flatmate) 3km from Royal bris hoptial. from your 11 sec sol the apartment was woth $75000 so eiter landlords -ve gearing or my rent is a bargin Q. is this correct?
Now: Q: Would it be better for me to keep renting here and buy a unit or town hose in outer sub for $85000 and payit down quickly till its +ve geared or move out and get my own place (2bed room for $150 000 using the grant (rent out a room for say $80/week) and after 1 year move back to renting and rent it out. Or pay down my own place quickly and get it till what i would pay rent less than the interest and then get an invest ment property with the savings?
Q: I notice you always use a 20% deposit. If i’m renting and move into my own place – wouldn’t trading rent for mortage insurence be better? Or if decide to get invest pro fisrt save up till the $85000 place will be +ve geared??
Q: On the subject of wraps – i need to do a lot more research on this cause its the 1st ive hear of it. but – what kind of person woulkd do this?? I’f the banks wont touch them – then why should i take the risk? Whats to stop them from just getting smart after a year or so and refinance at a lower interest rate with a bank?? Do you buy the place and then advertise it for sale and tell the potential buyer when they enquire that they can do it by wrapping if they wish??
Q: do you have a list of property managers in bris?.
Q: unfortunatly your seminars are in melb. Will you do some in bris?
Q: what do you think of buyers agents? Thought of using one to look for my places. (NB: while i’m saving like mad over next 12 months or so im pending the time asking questions like this).
Q: how do you get a wrap to be less then the current rent on a place? – whats to stop the buyer just giving up and going to rent another place at a cheapoer rate otherwise?
Sorry about the spelling errors – my typing has trouble keeping up with my brain!
Hey Dr Bell,
You do have a lot of questions !!
If you want to chat let me know. I get Writers cramp just thinking about how long it would take to answer the questions.
Can’t promise you anything but maybe a little clarity.Enjoy
AD [:0)]Success is not the result of sponataneous combustion. You must set yourself on fire.
Reggie Leach
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