Forum Replies Created
Hello Ante 123
Welcome, I was in your exact situation no more than a year ago, and have found this site an enormous help in learning the property game. You will find the people on here more than willing to give you advice on just about anything in property investing.
In regards to book choice, there is another thread on here which lists a whole heap of books that are out there, the ones that I have found that helped me so far are:
How to grow a multi million dollar property portfolio in your spare time: Michael Yardney
From 0 to 130 properties in 3.5 years – Steve McKnight
Rich Dad Poor Dad – Robert Kiyosaki
Also when you are ready to purchase another property find yourself a good mortgage broker as they know the business inside and out, on this site both Jamie M and QLD's 007 are highly regarded and more thn willing to help as you have already seen with Jamies above post.
Good luck, happy reading and if unsure just ask
Cheers
Thanks again Seqel,
I suppose with any large development, an over supply is a by product of it.
Looking at an NRAS propertyand got the numbers through on it today, bottom line is $85 CF+ a week after tax, with the median rent being $320. So has intrigued me some more.
Just aslong as the new area doesn't have the stigma of the older areas hopefully
Cheers
Hey Guys,
Thankyou so much for the replies, to answer your question Seqel, the NRAS developer is building in Mount View Estate, have had a look and there is a 'Planned" railway station on the Brisbane line, so cant be a bad thing.
Question for M.Investigator – with 49% of households renting, this is a good thing for investors..? Or am I missing something?
Totally agree with you Bardon that with reduced traveling time to the major centres it has to be a plus.
Thanks again
Hey Sundance,
I am honestly not sure, hoping someone on here can post an answer for both of us.
When I got my schedules done, all I did was tell them the address of the properties and gave them my Credit Card Number and 3 weeks later I had the schedules emailed to me, so made it very very easy for me.
Hello Sundance,
I have recently had depreciation schedules done on our houses and the business I paid to do them found out the build date as part of their research, thats what you pay them for.
Also your local council will have records of when the house was built. I was advised by my council that if I wanted to know the build date of my house it was free, but if a third party wanted to know there was a small fee to pay.
Hope this helps
Hello Sundance,
I have recently had depreciation schedules done on our houses and the business I paid to do them found out the build date as part of their research, thats what you pay them for.
Also your local council will have records of when the house was built. I was advised by my council that if I wanted to know the build date of my house it was free, but if a third party wanted to know there was a small fee to pay.
Hope this helps
G’day Jamie,
I asked today, and they do not pay the subsidy to interest only loans, but am able to transfer from IP to PPOR if required, just have to apply for another certificate. With that though am limited to only 3 lenders (One of their rules) being NAB and 2 others. They do not pay into an offset account, it is paid straight onto the loan.
Thankyou for the blog link, made it a lot clearer, and now understand the concept, and agree wholly with it.
Hi Jamie,
I do intend to buy another PPOR at some stage, but looking for another IP at moment, with regards to not pay the principal I am lucky enough that my employer pays $419.00 a month off my mortgage on IP1, and I have adjusted my repayments accordingly to pay the minimum amount, which is less than if it was interest only. If it was Interest only my employer would stop paying the $419.00 .Unfortunately the banks don’t see this as extra income as it is a fringe benefit.
On IP2 it is an interest only loan, are you able to pay down interest only loans..? Or would it be better off paying off IP1 and then refinancing it, being aware I have already used equity out of IP1 to pay deposit for IP2. My employer will continue to pay the $400ish up until I leave and continue to pay to meet years worked for them ie, have done 10 years with them, if I left today they would continue to pay for ten years.
If the evaluation does not come back in my favour, I know I haven’t blown my money as have paid off part of mortgage, but am I risking not being able to purchase IP3 if I do that..?
Afternoon 007,
Streets ahead of you, have emailed and read your article – and congrats on how well you have done!!
Its funny reading sometimes though as some books I have read and investment magazines, seminars I have attended that there are so many ways of investing in property it can all become a little overwhelming at times at which way you should go, CF+, Neg Gear, Sub Divide etc etc, am starting to think that not one investor is alike to another 100% ,as situations, finance, work, home life etc all have to be taken into account when (and most likely a mistake) I TRY and compare my situation to there’s!!!
Thank you for the post, it is good to read that I may be on the right track with this
