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I know of a good mortgage broker in Newcastle who might know of one:
Here is his phone number:
0414 494 870
Life is like a box of chocolates – you never know what you’re going to get!
Why not go for a simple family trust?
I skimmed the letter from Michael Yardney and all it basically said was that there were different trusts for different purposes. The majority of people on this site will be going for positively geared property therefore a simple family/discretionary trust would do the job.
I think it’s just a case of trying to patent something that they’ve done so that people think it is different.
Talk to any competent accountant and they will set you up with a quite valid family trust which will achieve the purpose of 99.9% of investors on this site.
Life is like a box of chocolates – you never know what you’re going to get!
Haven’t heard anything about them but we used Hegney Property Advisors in WA and found them to be great.
Life is like a box of chocolates – you never know what you’re going to get!
Looks like at best you will get your 100K back in rent over 20 years and then probably have a worthless asset.
Life is like a box of chocolates – you never know what you’re going to get!
Hi Quiggles,
Who did you hear the late-breaking news from?
Cheers
Life is like a box of chocolates – you never know what you’re going to get!
Ajax – very interesting report. I tend to think that Perth has hit the peak. But then again when they say that it always has 1-2 years of growth left.
The commentators are always behind the times. If they new everything spot on they would be billionaires themselves!
Life is like a box of chocolates – you never know what you’re going to get!
Hi,
I would recommend reading “Seven Steps to Wealth” by John Fitzgerald:
http://www.wealthbuilders.com.au/home/engine.phpAlso you should read Steve’s McKnights books available on this website.
I am thinking of doing the reno kings course also:
http://www.renos.com.auLife is like a box of chocolates – you never know what you’re going to get!
You should talk to a builder first and determine how long applications take to get through council and also the likelihood that your’s would be approved. This will give you a feel for what can be achieved i.e. extra bedroom or possibly subdividing and building at the back (if this makes sense – rear lane access, battleaxe etc.).
Generally it would be better to sub-divide as you will have another property on a separate title that you can sell at some point in the future. It is also true in most cases that even though you have split the block in half the front property is snot suddenly 50% cheaper – usually it only drops up to 30% and in some cases it is worth similar to before. Go figure?
Life is like a box of chocolates – you never know what you’re going to get!
One piece of advice I picked up from a Rick Otton free intro seminar in order to sell properties like these is to:
1. Sell the property with you the vendor paying the stamp duty and legals.
2. Also tell the purchaser that you will finance the deposit providing they can qualify for an 80% plus bank loan and you yopurself have at least the remaining % as equity in the property.
3. Also offer to pay the purchaser’s moving costs and other related costs e.g. phone connection etc.You can either tack a little extra on the purchase price to cover some of this or simply be happy that you will get a quick sale.
What you are doing is giving the purchaser every reason to buy your unit over all the others on the market. There are plenty of people out there who want to own but don’t have a deposit.
Obviously check with your lawyer on what agreements need to be drawn up for the depoist you are financing. Make sure to mention all the extras in your marketing of the property.
Life is like a box of chocolates – you never know what you’re going to get!
Is anybody looking at Iraq long-term?
Life is like a box of chocolates – you never know what you’re going to get!
Interesting topic. I guess you have to do your due diligence in every market. Yields don’t stand alone in a vacuum.
Life is like a box of chocolates – you never know what you’re going to get!
What the banks don’t know won’t hurt them.
Life is like a box of chocolates – you never know what you’re going to get!
I agree with Michael. Why would you want to buy somewhere that is so small it doesn’t have any stats?
If you are buying just for yield maybe you should look at somewhere a little bigger with a proven re-sale market.
Life is like a box of chocolates – you never know what you’re going to get!
