Thanks everyone. When I join any forum on the internet, only like one or two people are willing(or want) to help me. But on here everyone is giving advice and helping me out.
From my impressions so far property investors are very nice people.
Tony, correct me if i’m wrong. Your saying that I invest $8,000. Which means my savings towards buying a house is 8K. Once I get that in the bank I can start… Is this right?
Thank you Tony for offering your investment software to me, it is greatly appreciated. I will PM you my details and everything.
Also Tony do you know where I can find more info on rebates, from reading it i am still kinda confused with it a bit.
Thanks everyone for your responses.
Um, im 17, ill be 18 on the 30th, yippie only a week away.
Um, that 250,000 is price then, but now im thinking i should be going for 300,000. Um, that 100 is after i take out the rent and the tax deductions. Um, appreciation, i think ill let it go 3-5 years. That should be a pretty safe tiem frame(i know, i know, there are other things, not going, maybe go up all in one year, i know .)
Well, In uni i will probably be working in a firm for those few years, and i should be able to make way more than i have been now, even if its only a few days(like it is now). Um, then i could add more to the amount going in each week. Yes, i will have to have some fun. I will deserve it, though in moderation, then i will get most out of it(i will appreciate it more).
Thanks Milly. Ok, all things that can help bring my rent up, and also some of those things may not even add to the value of the property when i buy.Though ill charge extra rent.
Hmm, with location. I think ill give that website a go, and check around. I want it to be very close to me, but also in a nice place.
great idea Dr.X. thats great, like charge em 50% more for it and with your tax deductions you only pay half so your like double cashing in, and its like providing them with a service. Great.
Ok good locations. Um, im a local blacktown resident. I would like to buy local, which suburbs around and in the blacktown district are good. (ive heard that st marys and mt druitt are bad, and i personally agree).
Thanks David and Amy. Both of your idea helped alot. I think I won’t be going to a fee-paying place, im going to do the up front 20% off thing, excellent:).
Um, David that link that you put there, it doesn’t work. Can you tell me more about these jobs. Just general information.
My love for real life is very real. I would read your book, but i’m in my hsc year at the moment and things are really getting hectic now. so much to do. My love for real life is getting stronger and will only be supressed in say another 25 years or so. good luck with your book though.
The $200-$550. hmm. What are some tips to reach that higher region, nearing $400-550.
I’m only looking at residential property investing. And at the moment only houses, like no flats or apparments.
If i just have an interest only loan and i make extra repayments(to build equity). Will the extra repayments like have fees attached to them(or any things that will take away from doing this option).
Also I have been hearing about these offset account. I have no idea whatsoever to what these are at all. Can you please help??
hmm, I have just looking in the UAC book and seen your in VIC that cancels out your uni. So there is UWS(university of western sydney), which as business/commerce at 65UAI. I’ll easily be able to get a commonwealth supported place. Hmm, how did you get the 20% off, can i do that somehow???
your lucky, your parent help with your expenses like insurance,rego, other stuff. I have to do everything by myself. I might be able to get some leeway with this expensive education(called UNI).
Thanks Amy that reply was useful,hmm. Um, so your doing business/commerce, what uni is that at?
Um, with a fee paying course can’t i get like fee-help, where its like HECS but the government doesnt help to pay it off.
I’m not 100% on this, your more trained, can you help.
Also what UAI did you need to get into your business/commerce, as that degree is on my list of course interested in and has moved up the list over the last week.
or I could even just change my address to there but remain at home with my folks and use those 6months to do any outstanding repairs and minor renovations
Would this count as actually living there?
Is it legal?
Hmmm? food for thought for me.
Buy an old dump. Change my PPOR to that place but live at parents. Fix the crap place up. Then rent later. Hmm, i could do this with a smaller deposit(or try a more expensive suburb and a crap house).
Guys, can we have more feedback regarding this one point about staying at home but having the property have your name as living there.(while you repair and get ready for tenants).
Ok same house 100,000(LVR100) and after 5yrs its worth 150,000.
Loan is still 100,000.
So say I buy another house for 350,000. And have no deposit and want to use the equity in my other home(150k one).
I need say a 50,000 deposit. I use my equity.
Does this mean that my old loan is now 150,000 and my new one 300,000. Or is it still 100,000 and the new one 350,000. This is troubling me as say your loan details are diff(variable/fixed), this is confusing.