Total Members: 159,208

easymoney

  • easymoney replied to the topic Glbn Groups, Clubs, Mentors, Seminars in the forum No Subject 19 years, 8 months ago

    Hi Cath,

    I am also a Goulburn resident. I don’t know of any groups around Goulburn, although there may be some in Canberra.

    I think starting a social group would be a good idea. I’ve just bought my first IP using equity in my own home and am planning a trip to the US in August.
    The problem is I’m still young so my girlfriend and friends don’t…[Read more]

  • easymoney replied to the topic Units in US in the forum No Subject 19 years, 8 months ago

    Hi Westan,

    Thanks mate, once again you’ve been a big help.
    About the $20k properties, it’s not the answer I wanted to hear but it’s what I expected.

    I’ll have to keep saving so I can afford two $30k properties outright by the sounds.

    easymoney

  • easymoney replied to the topic Units in US in the forum Help Needed! 19 years, 8 months ago

    Hi Simon,
    Thanks for the idea, if the bank knocks me back vendor finance is another good option. I know the interest would be an extra few % but the returns would still be better than here.
    One problem I have noticed with vendor finance, is that the vendor’s are wanting the loan to be a term of 15 – 20 years not 30.

    Another option is to buy two…[Read more]

  • easymoney replied to the topic investment property in Thailand in the forum Help Needed! 19 years, 8 months ago

    Sounds like a great, safe place to buy into. Think I’ll stick to the US, mind you I’ll be sure to leave my gold here or someone might put a cap in my arse to finance their next hit.

    easymoney

  • easymoney replied to the topic Should I go to the middle of nowhere ? in the forum Help Needed! 19 years, 9 months ago

    Hi Mark,

    While I probably didn’t complete as much due diligence as I should have, I’ve just purchased my first IP in Coober Pedy. It’s a dugout in SA where it reaches 45 degrees in summer.

    It’s a small town but looking on realestate.com.au the houses i was looking at have risen in price, about 25% from November to February and they have had…[Read more]

  • easymoney replied to the topic NZ or Aussie? in the forum Help Needed! 19 years, 9 months ago

    Hi freedom,

    They’ve got it right, you will find much better deals in NZ and being a local you should know the areas much better than us Aussies going over there for a couple of weeks scouting a few areas.

    easymoney

  • easymoney replied to the topic How to Start? in the forum No Subject 19 years, 9 months ago

    Hi Rich,

    About the best place to look in Australia is realestate.com.au.

    There you will find many +ve CF properties. However most of them are in WA or SA in small towns or mining towns. In this situation you have to be careful as if the mine shuts down your property is not worth <edited> so to speak and could be very hard to rent out.

    I saw a…[Read more]

  • easymoney replied to the topic Turning own home into IP in the forum Help Needed! 19 years, 9 months ago

    Hi showbags,
    Have you owned a property in your name before or just your wife. Just wondering in doing this if you would qualify for the first home owners grant and free stamp duty.

    I just refinanced my home through ANZ and upfront I’m only looking at $1300 – $1700 in bank charges.
    There was no setup fee but I do pay $295 per year. This includes…[Read more]

  • easymoney replied to the topic Units in US in the forum Help Needed! 19 years, 9 months ago

    Thanks guys,

    I have worried about finance as I read in quiggles posts that’s it’s hard to get finance in America for property when you’re from overseas.

    I have $60 000 Aussie sitting in the bank as a deposit and the units I was looking at were US$85 so I hope a bank over there will lend me the rest.

    I have been told by the ANZ that they can…[Read more]

  • easymoney replied to the topic Units in US in the forum Help Needed! 19 years, 9 months ago

    thanks foundation that was a good read.

    when American properties are paying 25% cocr i don’t think a slight rise in the interest rates will hurt too much though

    easymoney

  • easymoney replied to the topic New to the board, new to Aus…..what would you do in the forum Help Needed! 19 years, 9 months ago

    PurpleKiss has it right. Depending on how much money you can finance with 20% deposits you could end up with 4 – 6 cashflow postive properties by the end of the year.
    Only pay the minimum deposits you have to as PurpleKiss said all interest is tax deductable.

    easymoney

  • easymoney replied to the topic Help with a non paying commercial tennant in the forum Help Needed! 19 years, 9 months ago

    byronent makes a few good points but personally i like JasonBourne’s idea much more.
    Agressive and very effective, a few blows to the head and he’ll always pay his rent on time.

    easymoney

  • easymoney replied to the topic Units in US in the forum Help Needed! 19 years, 9 months ago

    Don’t worry I know about the American dollar and why and how it moves.

    Once I own the property I don’t see how the US$ changing will make a difference as the American rent will pay for the American debt and the money left over will sit in an American bank accumulating to buy more properties with.
    One day I will pay to convert it back to Aus$ when…[Read more]

  • easymoney replied to the topic Defence Housing. Thoughts? in the forum No Subject 19 years, 9 months ago

    Hi guys,

    I think DHA properties are a safe investment in terms of a long lease good tenants having repairs paid for you by the defence force as well as the property being recarpeted and painted. You can claim the depreciation of the property and claim money back on tax.

    However as you said you make about 4% on your investment where the banks…[Read more]

  • easymoney replied to the topic Positive Cashflow Properties-Are there any around? in the forum Help Needed! 19 years, 9 months ago

    Like everyone says steve’s second book will help you a lot more as it’s up to date with the current market.
    I purchased and read it about two months ago and have since then bouught a property that meets the 11 second rule in S.A. It cost me $40k and the same 50 year old gentleman and his 90 year old mother have been renting it since 1994 (they…[Read more]

  • easymoney replied to the topic Investing in the U.S. in the forum Help Needed! 19 years, 9 months ago

    Hi Terryw,

    Thanks for the hints, I’ve already thought about what you said about buying more than a couple of properties and don’t worry I plan to.

    Sounds like I will let my money accumulate in an American bank and instead of paying to convert it I could even use it as another deposit with the returns i’ll be making.

    Thanks for your input

    easymoney

  • easymoney replied to the topic Perth – where to invest? in the forum No Subject 19 years, 9 months ago

    Hi guys,

    I can’t believe the response this post has received.
    I just had to post this reply as I want to be a part of history.
    This must be without a doubt the most responded post in propertyinvesting.com’s history

    easymoney

  • easymoney replied to the topic Units in US in the forum Help Needed! 19 years, 9 months ago

    Hi Rachael,

    I will certainly keep you informed, however i’m thinking about leaving in August so I have time to properly research everything.

    One lady has also sent me a private message so with any luck we may end up with three of us going.

    Don’t sell yourself short either i’m sure you will be a great benifit to me as I will hopefully be to…[Read more]

  • easymoney replied to the topic Units in US in the forum Help Needed! 19 years, 9 months ago

    Thanks guys,

    Sounds like I may make the trip at least a few months away Weston. As well as extra research I’ll be able to save a little extra cash for the trip anyway.

    When you talk about a good team did you find an account on your first trip or just a good real estate and lawyer.

    And what are your views on the blocks of units in the US. Do…[Read more]

  • easymoney replied to the topic Units in US in the forum Help Needed! 19 years, 9 months ago

    Me again,

    I almost forgot to mention I was planning to go to Buffalo as the destination point unless someone know’s a better city or state

    $2 406 may seem a little expensive to spend on an arline ticket plus accomodation but if we can buy two or three properties each it’s much cheaper than paying $2 000 – $3000 per property in bird dogging…[Read more]

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