Hi JJAUS,

I tried to check out your website at the bottom of your post but it appears to have a problem and doesn’t open.

Regards,

eeshole

Damn! The best my broker could do was a 70% lend with Citibank. If only I had known where to get 80% LVR on a commercial deal. Now I have chewed up all my equity and don’t know how to keep investing.

Hi grossrealisation,

In your post you stated “you can get 100% lending organised without mortgage insurance and normal lending it just takes a little creative pen work.”

Could you elaborate on this? I didn’t think this could be done. But you seem to know what you’re talking about so I’d be very interested to find out how this would…[Read more]

Also try Westan and MiniMogul from this forum for NZ properties.

DD on this forum does this. PM him and I’m sure he can explain the details to you.

I haven’t bought through him yet, although I have spoken on the phone to him about a property and exchanged several emails. I have found him to be a nice guy to deal with and very knowledgeable.

eeshole

Simon, can you point us to some Aussie resources on the subject?

Oshen, can you give us a run down of how you did it? Being able to ditch the job after one deal is something that most of us only dream about. Can you inspire us with your story?

Regards,

eeshole

Can I add my 2 cents worth?

Most replies tended to be about what Bonnie should or shoudn’t do, but I think the question that she’s really asking is whether or not landlords can change clauses in a lease contract after making verbal representations about the agreement.

Theoretically a verbal contract is legally binding, but practically speaking…[Read more]

Hi Mini,

I noted your previous reply to Torachan, where you offered to help him (her) find a CF+ IP within 3 months, just because. And because you like a challenge.

Well if Torachan didn’t take you up on it, or you would like another challenge, can you help me?

Regards,

eeshole

How about Baaa-ckpackers then?

And so it comes down to a question of semantics. I guess if you stick to positive cashflow you can’t go wrong. Anything else… isn’t positive cashflow.

Egg City Backpackers?

Actually, sometimes I question whether depreciation should really be taken into account when calculating whether a property is cash flow positive or not.

That’s because it’s not a permanent gain, it’s only a deferral of tax.

Example:

You buy an IP for $100,000. You sell it for $150,000. You pay capital gains tax on the gain of $50,000.

Say…[Read more]

I’m with Debtdogg on this.

How about an example:

Say you buy an IP at $100k, which returns $200 a week, that’s $10,400 a year in rental revenue.

Say you financed the whole lot with an 80% investment loan, and funded the deposit of 20% and the closing costs of $5k with a redraw from your PPOR line of credit, effectively paying 7% on $105k.…[Read more]

Hi Jaffasoft,

First of all thanks for a great tool, and especially for distributing it free to all interested investors. Good on you for giving us all a helping hand!

Can I make a suggestion for something to add to it? Perhaps I should submit and SDR or SCR or something like that.

Many investors would be funding the deposit for their IP via a…[Read more]

How about Hangi Hotel?

Personally, I would steer clear. The jail is not that much of a worry for safety, I would think most escapees would be trying to get as far away as possible, not hanging around the area to hassle the locals. It would be more a matter of the thought of a nearby jail dampening demand and therefore future capital growth.

Just did a google search on the book and you can get it from amazon for about $10 something US.

http://www.amazon.com/exec/obidos/ASIN/0743272935/103-5202972-3403010

Haven’t read it myself. This is not an endorsement. Just the result of a curiosity search late one night.

eeshole

Andy,

It’s probably a good idea to get a valuation, and also to check what similar apartments in the area are selling for. Then you have a definite idea of how much the unit is worth, and whether it’s worthwhile ditching it and losing the deposit.

How long would it take you to save the deposit again if you had to back out and lose it? In that…[Read more]

I am not on the Jenman payroll. I have had no previous dealings with him.

I have been to his website and read with interest the articles on it. I think he does a good job of educating the public about the corruption and dishonesty of those in the real estate industry.

I have emailed him twice about the content of his articles and both times he…[Read more]