Forum Replies Created
thanks for your reply richard. At the moment we are struggling to service our debt, if we sell one of our properties it will take the pressure off.In this market we may not get top dollar so if we were to sell at bargain prices to someone else ,we as a family should buy it. But what structure should we use.?There is also another property purchase oppurtunity next month.We have plenty of equity but serviceability is a problem .thanks again bill
Hi propertytalk
I’m with Wesfarmers,but they don’t have a true landlords insurance,plus they are pretty dear,i’m due for renewal in Nov,so i’ll get some quotes from Elders,Racv and Aami.I want the house and landlord in one.
Dazzling who do you use?
Regards BillHi clea
This reply is just my opinion.
Now with regards to your questions.Firstly commercial v residential,read some of Dazzling’s replies he is big towards commercial,I think mainly because of whinging tenants and also for better returns.
Now for the first time investor,you don’t need any bad experiences so take small bites and keep in your comfort zone.
What to look for with commercial properties-A long term tenant on good terms would be great.
Having no tenant,you may get the property cheaper,but there’s no cashflow and no guarantee to get one,so you will have to make it work one way or another.
I come from a country town where i see a lot of empty shops,sheds and yards.
Just do your due diligence.
Hope this helps,regards BillHi Yasmina
Just a different spin on clones figures.
ip $190000
$19000 deposit
loan 171000 for 30 years x 6% IO
Rent received after costs 9460
Loan repayments 10260
800 loss
no tax payable
deduct $800 loss from other taxable income
800×47% tax rate=$376 saving
now the loss is $424
$8.15 a week neg geared
Property goes up $1900 yr
so now is +$1476 yr
hope this makes sense
regards BillHi all.
We are a 2 car family.Mine is a 93 Nissan Patrol just done about 410000 kms,the wife has a 92 Ford Fairmont.
Started life in a black FJ Holden,body roll was murder,it was hard to keep it on the road,wish i still had it though.
Dazz got a 1000cc Honda varadero in the garage,I bought it about 5 years ago when the mid life crisis kicked in.
Regards BillMeme Great story,congratulations on your success.
Hi cupcake Information and research are your friends,not just for the properties and the different strategies,but for the success stories that will help you to your success.There are some great profiles in the Aust Property Investor mag.So when you are ready just go for it.Regards BillHi T1 Last weekend,a local property sold for $154000,guaranteed rental till Dec 2010 at $260 wk.I made an offer but missed out.Just keep looking there is always opportunities,you just have to recognise them,and be ready to deal,because if you don’t there are plenty of investors who are.Regards Bill
Hi leoau This is my first time in with a serious reply.I agree with all the above replies.My advice is to work hard to pay off debts.There is a strategy to use to do this.Basically concentrate all extra income into your highest interest debt then when this is paid,use the same amount of extra income to pay off the next highest interest loan.You will soon have your debts under control and hopefully have a savings habit to build on. Regards Bill
Hi all 1.48 2.47.Now “semi-retired”,no “JOB” but always busy with reno’s and investing and any job’s i want to do.Still have 3 young kids at home. 3.I will just have an ongoing plan and look at everything that comes along.Lifesyle is important also keeping in good health. Regards Bill
TERANG sth west victoria is there any other locals interested in getting together regards Bill
