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collie
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@collie
Join Date: 2004
Post Count: 60
March 23, 2005 - 12:17 pm
Thanks for your replies guys, so refinancing is in your opinion the best and only way to access equity. I want to acess my equity to buy further investment properties, using equity as deposit.
The equity access loan is fee free.
Thanks Again…….
collie
collie
Participant
@collie
Join Date: 2004
Post Count: 60
February 10, 2005 - 5:27 am
I am basing my sale figure on other comparable homes in the same suburb, this house is a deceased estate so it is going cheap…
Thanks for your help and input everyone.
collie
collie
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@collie
Join Date: 2004
Post Count: 60
February 9, 2005 - 3:09 am
To me the house is not rentable in current order. rae considering selling 6 months after renovating with tenent in place. The CGT I was calculating was on my income which is FTB of $5200 per year.
collie
collie
Participant
@collie
Join Date: 2004
Post Count: 60
February 9, 2005 - 2:55 am
You could call the tenancy board in your state and see what they say and also call a few local agents to see if they will manage for you at what cost etc.
Good Luck. Other people on this forum invets in this way so maybe do a search or something.
collie
collie
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@collie
Join Date: 2004
Post Count: 60
February 9, 2005 - 2:49 am
Hey Padma thanks for your reply, agents fees are included in selling fee, I have allowed $6000 which is 2.5% of selling price. I got that figure from one of Steve’s books.
Thanks,
collie
collie
Participant
@collie
Join Date: 2004
Post Count: 60
February 8, 2005 - 5:47 am
Thanks for all your replys. Have decided not to go ahead as there is hassles with no parking……..
collie
collie
Participant
@collie
Join Date: 2004
Post Count: 60
February 1, 2005 - 2:20 pm
Cool thanks derek. So you could get out of a contract if your financier rejected your loan application?
collie
collie
Participant
@collie
Join Date: 2004
Post Count: 60
January 23, 2005 - 6:04 am
thanks for the replys, at 7% interest over 30 years it would cost us $64 per week!!!!!!!!!!!!!!!
I must do this calculations before I get ahead of myself.
I just seem to be going round and round in circles with this whole investing thing!
Back to the drawing board, though I will still churn over this deal a bit more…………
collie
collie
Participant
@collie
Join Date: 2004
Post Count: 60
January 21, 2005 - 6:13 am
Maybe, still tossing up wether to come or not. Would probably have to bring my 12 month old son, would that be okay?
I was wanting to wait until my hubby had finished harvest to come with him, but won’t be done by tommorrow due to storm
bummer. Anyway have fun and if I do decide to come at the last minute I will call you.
Thanks,
PS, After I posted that message I noticed that the time was there all along!!!
collie
collie
Participant
@collie
Join Date: 2004
Post Count: 60
January 20, 2005 - 7:50 am
what time approx?
collie
collie
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@collie
Join Date: 2004
Post Count: 60
January 18, 2005 - 3:09 am
Byronent
So was the cost about $10,000 for all your units, is that right?
We are interested in Strata Titling 4 units, and selling 2 off and keeping 2 as +cf properties after renovations.
collie
collie
Participant
@collie
Join Date: 2004
Post Count: 60
January 18, 2005 - 2:58 am
Hi, I am still interested in a property group meeting @ Albury. Have PM Padma, so will see what happens.
collie
collie
Participant
@collie
Join Date: 2004
Post Count: 60
January 7, 2005 - 7:14 am
hi jaffasoft, my husband and I live near Albury and would be interested in coming to a investing group.
Let me know if you do establish a group or something.
We are new at this game and could use all the support we can get.
What do you think of the investment potential for albury/wodonga at the moment?
Seeya!!
collie
collie
Participant
@collie
Join Date: 2004
Post Count: 60
December 17, 2004 - 8:11 am
thanks for your replies.
I understand why you must be feeling confused Robert as my numbers are not adding up are they. The $100,000 price was a wild guess but we were hoping to buy the land and house and complete the package at a cost of $70,000 and then sell for $110,000.
Thanks Again.
collie
collie
Participant
@collie
Join Date: 2004
Post Count: 60
December 17, 2004 - 5:07 am
not sure wether we can get a fixed price contract, would that be the best option from a financier point of veiw?
We expect the house to of comparable value to other properties in the district, as alot of the properties in this town are “renovators delights” that people are currently charging exorhbant amounts for (eg we looked at house 2 years ago that was listed at $45,000 decided against buying as it really was a peice of junk, 18 months later the price had risen to $130,000! Same house with no work done on the property, needless to say it is still on market)
We were thinking of selling at just under what the market is selling at to get a quick sale.
EG. we were thinking of selling this property @$110,000? (Very preliminary price) Other houses are selling for $140,000+ that dont need renovating. I looked at a 2br reno delight that was listed at $105,000 and located on the highway.
collie
collie
Participant
@collie
Join Date: 2004
Post Count: 60
December 17, 2004 - 4:55 am
Ok if we get finance to cover the land we will probably have enough to cover the relocation of house. Can we then obtain finance to complete the renovations?
TA
collie
collie
Participant
@collie
Join Date: 2004
Post Count: 60
December 17, 2004 - 4:43 am
thanks for your help and no that wasn’t a typo!!!!
Can you help us at all? I mean in a professional sense.
collie
collie
Participant
@collie
Join Date: 2004
Post Count: 60
December 17, 2004 - 4:14 am
We will probably need to borrow $70,000 to $100,000? We are just in the starting stage of this plan and are wanting to know wether we could get finance. We have no debts and only pay $70 per week rent. We bring home about $1100 per fortnight.
collie
collie
Participant
@collie
Join Date: 2004
Post Count: 60
December 17, 2004 - 3:55 am
what on earth is a ‘vanilla’ deal?
what info do you need to know? The block we are buying will cost aprox $15,000
collie
collie
Participant
@collie
Join Date: 2004
Post Count: 60
December 16, 2004 - 3:17 am
thanks everyone for taking the time to reply and share your thoughts.[biggrin] We have decided as this is our first property venture that we will not go ahead with the uni house idea. I think it will be just a bit complex for our first go, also having trouble with obtaining finance and thinking that $105/week for a student is pretty steep especially in a regional area, but his is what we would have to charge to make things a bit less of a squeeze. So back the drawing board.
Yes i did research the idea as well, such as ringing accom register at the regions uni’s finding out demand that sort of thing, also rang tenancy board and they said that 4 people in a house is not going to add any sort of extra rules,(VIC).
Anyway thanks again, appreciate your comments and links to visit.
TA
collie