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  • Profile photo of dkb87dkb87
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    June 26, 2012 - 1:28 pm

    Thanks Paul, your comments are very helpful. I'll check out your websites and I also just bought "how to buy a house for a $1" by rick otton so ill get stuck into that.

    As you mentioned I need to build up my education about Vendor Finance as I understand there is a lot of legalities surrounding it. I'm just very interested in this investing method and would love to give it a crack :)

    Cheers,
    Dkb87

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    June 21, 2012 - 1:14 am

    That sounds like a great strategy Paul and is pretty much the direction I would like to go down too. We don't really have any equity built up yet in our home as we only just bought it recently, so we are trying to save up for a deposit for our first IP.

    Does your company offer any training or products on the way you invest using VF?

    Cheers,
    Dkb87

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    June 18, 2012 - 11:27 am

    Hi Matt, Hi Paul.

    Perhaps I should have been more clear with my intentions. I was thinking of purchasing an investment property and then selling it using vendor finance to create a positive cashflow. Then I would repeat process again and again. I would like to use this strategy as my chosen method to focus on to build up a good cashflow stream. I'm still new to vendor finance though so atm I am just researching as much as possible and looking at all the links Paul has provided and also reading books on this subject.

    What do you guys think about all this? Any feedback is much appreciated.

    Cheers,
    Dkb87

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    June 9, 2012 - 9:36 am

    Hi Paul,

    Thanks for the information, much appreciated. I will check out those links and make some notes.

    Cheers,
    Daniel.

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    March 17, 2012 - 3:45 am

    Wow $60 or $70? That’s so expensive, I’m still waiting for my quote to come back. If its that high I would faint! Lol

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    March 16, 2012 - 1:28 pm

    Hi Derek,

    To tell you the truth we dont really know what kind of investment property we are seeking yet, just trying to gather info at the moment still as we have only just bought our first house but I am keen on getting into property investment asap. I dont mind dealing with people or advisors who are not in my state, if I know they are reputable in what they do.

    Hi Richard,

    Thanks for the information, I never realised any of this before so it is much appreciated to hear from people that have experience with these buying agencies.

    Cheers,
    Dkb87

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    March 16, 2012 - 1:17 pm

    Hi Emma,

    Thats ok, no worries. I ended up finding the guy that did my partner's parents house many years ago so all good!

    Cheers for the help, much appreciated!

    Daniel.

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    March 14, 2012 - 9:29 am

    Ahh yes, those umbrella style loans you mentioned Richard is exactly the structure that guy has with Destiny, he explained it to me when I spoke with him about the company. Sounds like I should stay away from buyers agencies then, at least until I know exactly what I'm doing. Thanks Richard, thanks Jamie.
    <br /:)” title=”>:)” class=”bbcode_smiley” />
    Dkb87

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    March 12, 2012 - 11:49 pm

    Hi Jamie,

    Thanks for your comments, we thought of using them as they can show us how to recognise a good deal plus they have the knowledge of the Australian market nation wide where we don’t know too much about investing in other states where a lot of these good deals exist.
    Perhaps you are right though, with a bit more research and investigatation maybe we can get good at finding positive cash flow deals ourself, otherwise we may have to buy negative and try and turn it into positive :)

    Dkb87

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    February 22, 2012 - 3:30 am

    Hi wisepearl,

    Thanks for the useful information, I had never heard of serviceseeking.com before so I will give it a try!

    Cheers, much appreciated :)
    Daniel

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    December 15, 2011 - 8:45 am
    Derek wrote:
    Hi Daniel,

    $200K/annum passive income can be done in residential property with four properties and ten years. The key is to get the initial steps right and be prepared to take some developers risks. We are doing this with some clients atm.

    Commercial property will through a few curve balls at you in terms of financing (lower LVRs) and potential for periods of time without a tenant. Vacancies can be minimised with good property selection – getting your first leg into commercial will probably be a signifciant hurdle given the lower lvrs banks offer and thsi is where getting the initial high levels of saving/equity up will be to your advantage.

    It is a big aspiration you have but you have to start somewhere and if you are truly committed to achieving your goal it will be done.

    Make sure all of the steps you take are measured and carefully considered.

    Best of luck with it. .

    Hi Derek, thanks for your feedback, do you suggest I aim for 4 properties in 10 years first and then look into commercial property after reaching this point?

    Thanks,
    Daniel.

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    December 15, 2011 - 5:44 am

    Hi APWPG, sorry I am in Perth, WA.

    Thanks anyway,
    Daniel.

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    December 14, 2011 - 12:35 pm

    Thanks Richard and thanks Steve, now I know more of the costs involved!

    Hopefully I can purchase my first and then my 2nd one not too long after :)

    Cheers,
    Daniel.

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    December 14, 2011 - 10:10 am

    Hi thecrest,

    I used to do the payroll and super at my old work and we used MYOB. I found it to be pretty easy to use once I got the hang of it and you can prin off payslips, profit reports, super reports, etc….and much more!

    Hope this helps,

    Daniel.

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    December 14, 2011 - 10:04 am

    Does anyone think that its possible to purchase 2 investment properties with 5% deposit each, based on two 400k homes and a total of 45k savings in the bank? How much do closing costs usually end up amounting to? I would qualitfy for FHOG too if i chose to live in one of the properties, which means I would have an extra 7k to add to the 45k right? Sorry if this sounds like a silly question, just wondering if I could potentially do that instead of purchasing just one property with a higher deposit.

    Thanks in advance,
    Daniel.

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    December 13, 2011 - 2:28 pm

    Cheers guys, all  this information is a lot to get my head around but It will slowly sink in lol. I have had a bit of a play around in the stock market but my shares are currently trading at a loss, I think it is more the confidence of the market rather then the actual performance of the company which is keeping the price down atm. I'm not too to keep trading shares for the time being, I am very ineterested and passionate about property :)

    Thanks,
    Daniel

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    December 10, 2011 - 2:20 am

    Thanks for your comments guys, it is much appreciated. I think I now have a clearer understanding of what is required to achieve this goal. I'll just take baby steps and learn as much as I can along the way from books and this forum and other people I know and then I believe we can reach our destination!

    Cheers,
    Daniel.

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    December 9, 2011 - 8:57 am

    Great blog Emma, I am new to property investing and I am also very passionate about learning all I can so thanks again, your information is very educational!

    Daniel.

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    December 4, 2011 - 2:10 am

    Hi JacM,

    Thanks for your comments, I know they are active investors who have been doing it successfully so I feel I am getting the right information but I will keep doing my own research too.

    Thanks,
    Daniel

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    December 2, 2011 - 6:47 am

    Thanks for the advice guys, I will keep doing more research into it to see what the best decision is for us. Regarding professional advice we are seeking, it is from a trusted source whom I have know for quite some time so I am confident in this person giving us the right advice. However I will certainly turn to this forum for additional advice and opinions regarding property investment as I agree there is a wealth of knowledge and experience in here that is very valuable to someone new to the game such as myself.

    Cheers,
    Daniel.

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