I actually heard the last one on the radio – very funny[biggrin]

I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how

if you do not believe in philanthropy, all you want to do is keep making money and more money and more money – it becomes greed and you never become satisfied with what you have.

Jesus Christ said, “Do unto others as you would have them do unto yo” but even if you don’t beleive in Christianity, this is a basic principle to be able to live in society.

You need to put yourself in the shoes of the less fortunate in order to be grateful of the gifts and blessings that come your way. Life and breath is a gift – imagine those that are in an incubator.

Money is not everything and you need to experience this by giving it away…

kind regards,
George.

I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how

Hi Joh,

I understand what you want. Fisrt things first.

You have to make sure that your three friends will defenitely rent out the bedrooms from you.When you sign the contract, make it ‘subject to approval of tenants’ – You don’t want to sign the contract, then find out that your mates, will not rent it out and find yourself stuck by yourself making the loan repayments and with a $500k loan, it won’t be easy.

I would suggest not looking for an apartment in the city as a 4 B/R apartment will cost you over $1M. I would suggest looking at Prahran, St. Kilda, Richmond, Port Melbourne or even maybe South Melb (leave Sth. Melb as a last resort).

Second, you need to assess whether you’ll be ina good financial position by purchasing the property and renting it out.

Some basic figures:

Property = $500k

Deposit = $50k (10%)

Loan Repayments = $33,750 pa (7.5% IO on $450k)

Rental = $15,600 pa ($100 pp x 3 persons x 52 wks)

You’ll have to fork out an extra $18k+ to make the loan repayments which do not even include principle. Be mindful also that I have not included the costs above of Legal fees, agen fees, rates, Body Corporate, Title fees, bank fees, Stamp duty etc. Also, you can either put a 20% deposit down of $100k cash – ask yourself if you have this cash. If not you can put 10% which is $50k but you’ll need to add Mortgage Insurance of several thousand dollars.

Assess all your figures first befoere you rush or decide into anything.

Kind regards,
George.

I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how

I beleive at present, it would be the best place to get your 1st investmenst property. PM or email Westan and Minimogul and they’ll help u out.

Kind Regards,
George.

I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how

If your looking at Shepparton, I can reccommend Donna from Stockdale and Leggo. I don’t have her number on me at the moment – PM me and reply with her number.

PM’s usually charge around 7.5% of the rental.

Kind Regards,
George.

I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how

Hi Gerard,

Ultimately, you’ll have to speak with a solicitor. But if you be more specific in what you want to know, perhaps we might be able to help you on this forum.

Kind Regards,
George.

I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how

Hi Scott,

welcome to the forum – Im sure you’ll find this site very useful in your property investing career.

You’ll need to check with council in regards to permits, and whether they have any future development proposals in that area or on your block of land.

You’ll need to get a surveyor and builder to assess the costs of developing that project. Then you’ll need to speak with agents to assess how much you’ll be able to sell them for.

Hope this helps

Kind Regards,
George.

I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how

Your not doing anything wrong – it does work – you just have to look harder and look outside the square so to speak.

Please as I tell everyone – it is not a Rule – it is just a guide. Don’t lket this be the benchmark on which you purchase properties. If you do, you’ll get nowhere. You have to learn how to create creative deals. Not even Steve goes by it anymore – he has a new equation that supersedes the 11 sec equation.

Kind Regards,
George.

I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how

Hi Jenny,

There is NO rule of thumb. Someone might need to replace a door knob. Another might need to replace the roof.

The way to assess each property is b4 you go unconditional on it, you have a building inspection done and the report will tell you what is required and how much that builder believes it will cost. Some reports show that the property is in sound condition and no maintenace is needed. As I’ve said b4 in another post, one of my properties that I wanted to get, the report stated that it needed $30k worth of work.

The best way to do it is that if you purchase a +CF property, have the rent go back into the account and leave it there – don’t re-draw on it. Leave it there just in case in the future it is needed for maintenace. However, I like to keep $10k on the side always for emergencies.

Hope this helps,

Kind Regards,
George.

I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how

…well, we tend to buy American guru books to invest here – so I suggest you can – most of the principles are the same and it is a very enlightening and motivational book.

…anything is possible. It all depends on how you make the deal. You can make money through a boom or a depression.

There are other investors from the UK on this site but I can’t remember who they are – perhaps you should start a thread on it. I suggest you also get some guru’s book from the UK and research the towns and cities over there. Speak to like-minded investors over there aswell as agents, accountants and solicitors who know the tax system and the laws that govern property investing.

Hope this helps

Kind Regards,
George.

I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how