Forum Replies Created
I understand everyone has a differnt opinion on investing in realestate and many investors advise on diversification eg.shares, managed funds ,buisness ect , each one has a risk and it depends on your strategy but for me i look at it this way people are living in my houses and they are paying me money and eventually some of that money will be mine.And being and accepting that i am in the lower class of society(not a bad thing) makes me so determined to hold and buy as many propertys as i can. In the last two years with these 3 Ips and 1 ppor I have never made so much money in my 25 working years.
My point is if i can keep borrowing i will because you have to have the courage to do this and not say to youself i should have bought an investment property.[
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DomThanks everyone for that, the reason is i would like to purchase a investment property with that amount in mind $245000. My PPOR is cross secured with 2 of the investment propertys and one is stand alone (212000 Value $270000) and i would put in $20000 plus costs melbear.
Rent is $1000,$1000,$960 per month.
And how do you work out serviceability?
Thanks again Dom[]Thanks melbear for your comment thats exactly what i needed to find out i it came close to the 11 sec solution.
Rates $1000, PM 8%,insurance $350. This 3 bedroom house is in imaculate condition new ,tiles, carpets bathroom,kitchen,paint etc. It has a 12 month lease on it, with deposit it makes the deal look better than whithout it.Have pictures sent this afternoon i might not even hasve to inspect it by the looks of it.But their might be better deals out their i should go for a drive instead of finding these on the internet.
Dom[]Melbear,
I presume from Mumof3 profile that they are studying in QLD so thats why I wrote Service ,and did not see anything about AFP.
[]Nothing to do with your question but i just could not help myself.Police Service, they dont like using the “Force” word if you know what i mean.[
]Yes i see your point xyzzy he did not copy it right.
(just joking)
Can you imagine if no one copied anything in the history of mankind for example positive gearing. Unfortunatly just about anything can be copied no matter what it is legal or illegal its just a part of life, the trick is to find a way so it cant be copied then you will be rich. Copyright what copyright.
Dom[]GUARANTEED SECRET OF WEALTH
Sounds like the richest man in babylon.[]Rudy,
If you dont mind me asking what are you plannining to build?[]Would you not be better putting cash in a managed fund earning 8,9or 10% ?[
]Thanks westan,
Yes the $40K is the cash deposit, and the price of the house. So total $46K and their would only be 6K owing on the property but even so refinancing in this situation would not benifit you at all as a cash positive investment.
Dom[]Has anybody else a strategy for this?[
]Yes you are right rob it is $12,and i should encourage my tennants to not pay in advance LOL. [
]Hi miniMogul
Thanks for the e-mail on arthritis much appreciated i have been to a naturepath with slight improvements .
On the subject i was reffering to NZ population the time frame i was speaking of was the last 30 years Population growth to get an average.And yes you are right my friend did not take any due dilligence which was an extremely cost saving lesson for me as i saw it unfold over a period of 3 months.Because i worked with him i asked all the details as he was repairing the property. Before he purchased the property i told him that i never bought sight unseen and prefered to spend a little bit of money travelling to see the property before i purchased it. But he thought he could trust the RE and went ahead with the purchase.I dont think it matters where you purchase as long as you research, research and more research you talk you ask and you gain experience and most importantly take your time because no matter what the RE says their is always an other bargain around the corner.
I saw this morning on the news about how auction popularity has fallen 40% that means only one thing to me cash youslf up for some bargains !!!
Dom[]Thankyou for that, i am going in NZ in june to visit friends in invacargal (i think thats how you spell it) for two weeks and hoping to purchase sight seen. I prefer to buy that way as i have a friend whom bought sight unseen and had $8000 to spend including his own work just to make it liveable. I know the population has not increased very much at all in NZ and thats why i will be cautious. I also know that a large part of the country is bought up by overseas investors and tht they are starting to clamp down on this problem. These are not bad things but i will step in lightly.I have not been their but what i have heard is all good, hope its all good for me.
Dom[]PS I also have arthritis all over
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