yes, we are only just getting proactive, very late obviously. The developer has been paying for a lot of advertising already and we just let things slide over christmas, stupid thing to do i know, anyway thanks for everyone’s replies, a lesson perhaps for people in what NOT to do

we considered the retirement unit as it is positive cashflow (with a tenant) We have advertised the unit for 3 weeks as a rental with only 2 responses and 1 inspection.

Just a Crappy decision at the end of the day, have to learn the lesson and move on….

We have recently settled on a strata titled retirement village unit in wangaratta VIC. The 1 br unit cost us $109,000 we got a 80% loan through Widebay Australia, a credit union based in QLD. We were without a tenant for 2.5 months as this was a new development, we now have a tenant paying 1050 p/mth, a good return, after costs we are ahead $30…[Read more]

Hi, there are many ways i’m sure to sell your house. Advertise in local paper, trading mail, call local house removal people and see if they are interested as some of them buy and then transport to their stockyard and then sell themselves.
Goodluck….

collie

It is a large 5 bedroom house.
How would I find out wether I can use exisitng property as security? Is it best to just get a broker on the case?

collie

Don’t really have nay cash to put in, as we need to keep a bit for furnishing the place.
Thanks for your reply Terry.
Regards,

collie

Never heard of the place but great to see I have one named after me 9or my nickname anyway!!)

Thanks all

collie

Thanks Terry for your reply. Much appreciated.

collie

Hi,
My husband and I have just settled on our first property and used a buyers agent who cost less than $6000 alot less, found a property for us in under a month which is positive cash flow by about $45 per week, she frequents these message boards at times and her forum name is scotty3. Maybe you could PM her if you are interested?
Hope this is…[Read more]

Hi Robert and thanks for your reply.
We have about $14,500 equity in our new property and that is about it!!
Also have family who may be willing to go guarentor with a house worth about $300,000
Anyone else have any comments on the developing side?
Thanks Again

collie

Thanks Guys for your replys, I think we are going to have to do some in depth research cause alot of this trust stuff doesn’t make alot of sense at the moment!!
Anyway onward and upward!!!!!!!!
Research, Research and more research!!!!

collie

Hi Kay,
We didn’t need a 30% deposit as unit is classed as a residential property. We actually loaned 90% purcahse price. Our buyers agent only cost us $3000 which I think was a bargain becasue has really helped us to overcome our fear and procrastination.
Hotel group pays all cost as part of the lease… they lease unit to tourists as fuuly…[Read more]

Thanks guys for your encouragement!!!
Love to catch up Padmaa with updates of your deals too!!
PM me and we’ll arrange a time to get together.
Regards,

collie

Hi, anytime is a good time to invest as long as you have stratergies in place to protect yourself and certainly I would be having a bit of a buffer in place for when interest rates rise.
Goodluck!

collie

i’d use it for a deposit for another property and definately put it in a offset account while looking for another property as Terry suggested.
Good luck and good on you for being in such a financial position at your age.

collie

I’ll back up the Jaffasoft recommendation it is very hepful also another you can try is http://www.yourmortgage.com.au go to calculators and then to link, can I afford an investment property.
Goodluck.

collie

Before buying ask yourself the question “Why am i buying property?” “What am I hoping to gain from this?” For example if you want to buy and hold for the long term and are relying on CG to bring you profit your stratergy will be different than if you were wanting to biy a cashflow property that makes money from day one, and then different agian if…[Read more]

No you are not eligible for the FHOG if you are living with your partner and they have owned property before. Look at ato.gov.au and follow links to FHOG info or go to http://www.osr.nsw.gov.au if you live in NSW.
In answer to first question lots of finance and banks sites have calculators for costs also jaffasoft.com does too.
Have Fun!!

collie

Most bank sites have there own calculators on there loan info pages, also in the links page on this site there is a few links to sites with calculators on them.
Hope that is helpful,
Cheers,

collie

Actually you can still access FHOG if you buy an investment property. Look on the ATO website the rules have changed, as long as you do not live in the property you can access the grant when you go to buy your new home. Alas you do miss out on the stamp duty concesions though……………
Mu hubby and I put off buying property for years because…[Read more]