DerekLangan started the topic First investment: build or buy? Need help with options in the forum Help Needed! 9 years, 5 months ago
Myself and 2 other family members are in the process of getting a loan approved for our first investment. We have been looking at building a new home in a new estate close by and I was wondering if this would be a smart option? I have been tossing up whether to build from scratch or buy an older house close to the area we are looking to invest in…[Read more]
DerekLangan replied to the topic Looking for advice to set up a trust account in the forum Help Needed! 9 years, 5 months ago
Thanks Terry I obviously have no idea of what I am talking about and have totally misunderstood the information I was given. I guess what I wanted to find out is are there any benefits to purchasing with a trust when I start out or would it be something I look into later down the track?
DerekLangan replied to the topic Looking for advice to set up a trust account in the forum Help Needed! 9 years, 5 months ago
Hi Terry thanks for your reply. We look as though we are going to take a joint personal loan in order to be able to claim any tax benefits that will apply to this investment property. What I wanted to know is, I was told last year at a property seminar that if you set up a trust and then use that trust as the director of a seperate trust which…[Read more]
DerekLangan started the topic Looking for advice to set up a trust account in the forum Help Needed! 9 years, 5 months ago
I am looking to set up a trust account with some family members in order to combine our loan capacity and I would like to know if anyone can help answer some questions in order to find out the best way to set up the trust and what benefits or drawbacks this may have
DerekLangan replied to the topic Looking for Accountants in Victoria who specialise in property and business in the forum Legal & Accounting 10 years ago
Jamie, thank you once again for your assistance. I checked out their website and it looks exactly like the type of firm I’m after. I also can see that your a mortgage broker… I was wondering what the process would be in order for me and my partner to have a consultation with you?
DerekLangan replied to the topic Looking for Accountants in Victoria who specialise in property and business in the forum Legal & Accounting 10 years ago
Thanks Jamie, is house of wealth a group? Well obviously they must be but is there someone specifically to ask for? Also how do I do a search? I’m guessing this topic has been raised in the past but I couldn’t seem to find an earlier post.
DerekLangan started the topic Looking for Accountants in Victoria who specialise in property and business in the forum Legal & Accounting 10 years ago
Hi everyone, I have started this post in hopes of finding some contacts. I am looking at taking over a well established family business next year and also I want to start investing in some properties as soon as possible. I was hoping to find an Accountant who would specialise in helping me reduce my business costs and be able to help me structure…[Read more]
DerekLangan started the topic How do I get the best result out of 2 owned properties in the forum Help Needed! 10 years, 1 month ago
Hi all, my mother in law currently owns 2 properties which she would like some advice on. She has an investment property in Griffith NSW which has just become available to rent as her son is moving out and she is currently living in a property which she has recently renovated in Melton VIC. Due to unforeseen circumstances she is no longer able to…[Read more]
DerekLangan replied to the topic Renovations: Cheapest way to add value to your property in the forum Help Needed! 10 years, 1 month ago
Thanks everyone, very helpful information. If anyone else has any other suggestions please feel free to message me or add to the post.
DerekLangan replied to the topic Renovations: Cheapest way to add value to your property in the forum Help Needed! 10 years, 1 month ago
The spread sheets you use for your renovation budgeting… Do you happen to have a template? Be good to have a copy or something to go off. I’m just wondering if you go out first to get prices on carpets and blinds and paint etc. before you purchase the property or if you have a way of knowing roughly how much it would cost to do and then look for…[Read more]
DerekLangan replied to the topic Renovations: Cheapest way to add value to your property in the forum Help Needed! 10 years, 1 month ago
Thanks for the replies. Good to know you can get paint carpet and blinds for a 3 bedroom under $2000. Was that DIY as I couldn’t imagine you could pay someone to do it all for that price? Also before you purchased your property do you get quotes from builders or evaluators? If not how do you estimate prices for the changes you want to make in…[Read more]
DerekLangan started the topic Renovations: Cheapest way to add value to your property in the forum Help Needed! 10 years, 1 month ago
Hi everybody, just about to start investing into some positive cash flow properties that I have found and I was wondering if I could get some advice off some experienced investors as to what would be the cheapest way to add perceived value to a property in order to gain equity. I’m looking to get some rough cost examples and an idea of how much I…[Read more]
DerekLangan replied to the topic Looking for a good mortgage broker and info on home loans in the forum Finance 10 years, 8 months ago
Cheers Terry, I know how frustrating it can be in commission based jobs as I have worked in sales for 10 years but I don't plan on wasting anyones time let alone my own. I just want to make an informed decision from speaking to a few people before I decide who to go ahead with. I'm sure by the sounds of things it will end up being Jamie but I…[Read more]
DerekLangan replied to the topic Looking for a good mortgage broker and info on home loans in the forum Finance 10 years, 8 months ago
Thanks everyone for backing up Jamie. Terry I really didn't need to be told not to waste his time…. I think as a potential investor I am able to ask questions and speak to a few brokers before deciding on who to go through, how else would I learn anything? I worked as a travel consultant for over 3 years and do you think I expected everyone to…[Read more]
DerekLangan replied to the topic Looking for a good mortgage broker and info on home loans in the forum Finance 10 years, 9 months ago
Excellent, I didn't realize Jamie was the one you were talking about from earlier in the post but thanks for the referral. I will definitely talk to Jamie before I go ahead with somone else.
DerekLangan replied to the topic Looking for a good mortgage broker and info on home loans in the forum Finance 10 years, 9 months ago
Why would recommend Jamie? Just wondering if it would be worth speaking to someone long distance or trying to go locally
DerekLangan replied to the topic Looking for a good mortgage broker and info on home loans in the forum Finance 10 years, 9 months ago
Cheers Jamie and Sundance. Any more information regarding these brokers and why you would suggest them?
DerekLangan replied to the topic Looking for a good mortgage broker and info on home loans in the forum Finance 10 years, 9 months ago
Sorry forgot to post where I'm from…. I would preferably like someone close to Lorne in Victoria but I would also be happy with anyone from Melbourne as I regularly spend a lot of time between both places
DerekLangan replied to the topic 1st time investor with $10,000 deposit. Where do I start and what do I look for? in the forum Help Needed! 10 years, 9 months ago
Hey new guy thanks for your input. It makes my decision seem a lot clearer now that I take that into account. I appreciate your help and I might start up a new thread to help me with the intil borrowing process
DerekLangan replied to the topic 1st time investor with $10,000 deposit. Where do I start and what do I look for? in the forum Help Needed! 10 years, 9 months ago
Cheers Michael, might seem like basic info but for me its really valuable. So what do you suggest in this scenario? Would you save more money and try to reach the 20% mark and look for a similar deal later down the track. Because I also didn't take into account the loan being approved because 95% of the money is being loaned.
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