Forum Replies Created
Hi Matthew,
Welcome to the forum and chin up! You have achieved a lot for your age and should be very proud of yourself…
Richard & Dan42 have provided some great information but the thing i would like to add is move as far away from CBA as soon as possible!! I used to work there in their mortgage department and they are all about tying peoples portfolios up to benefit themselves not the client. I can only presume they have cross collateralised your properties & business dealings but this can be unwound with a good structure.
If you need an unbelievable accountant please pm me their details as this will be the first step you can make to achieving true financial freedom! I too went down a similar path to yourself at your age (now 34) and it has only been in the past 3.5 years that things are really cracking along nicely in all areas of our lives finances, portfolio and of course business but it took a lot of hard work to get there.
Remember also we have been through one of the toughest financial periods of all time with the GFC which has cause chaos on all fronts especially finance/property markets and don't get me started on what the labor government has done to continuously screw us all over, mind you some of the major banks aren't much better.
If you want some free advise or help with where you are heading, what structure you need or just a general chat i'm more than happy to have a chin wag with you to assist. Don't loose sight of your dreams or hope in what you believe!
Cheers
Hi Parraboy,
Good to see your a blue and yellow supporter that's always a good start.
You have to have a clear and defined strategy going forward for the next 10 years of what you would like to achieve from your portfolio. For me personally i will not buy anything that does not see a minimum of 10%pa in capital growth and a rental yield of 7% + in the current markets.
What we teach clients is you have to look at your portfolio as a business. Within a business you have employees, some good, some bad. You need to treat your properties in the same respect and find out which of your properties give you the highest returns with the minimal amount of effort vs the bad properties that give you the lowest returns and require lots of effort/cash-flow.Not knowing your entire situation and working off the above listed information i would get rid of Medowie and look for a better investment. If you like the area take a look at Cessnock/Raymond Terrece/Rutherford etc where mining is having a huge impact on these towns. Remember the key to investing is research!
Give me a call if you want to have a chat!
Qlds007 wrote:Sorry Trent that is clearly untrueFirstly you can only purchase a completed house not house/land where by the super fund buys the land and builds
I have done many of these in my SMSF.
Funding the deal maybe a different matter but again that can be acheived albeit a bit around the houses.
You can purchase vacant land, construct, renovate etc as long as all such investments are covered off in your Trust Deed or the Trustees agree to such an strategy.
Cheers
Yours in Finance
Richard,
I must apologise for being misinformed around this matter. We would love to speak to you further around this matter as the people we have had involved may have misguided us with this information and the banks.
Its a great way to purchase but as always it has some good & bad points.
Firstly you can only purchase a completed house not house/land where by the super fund buys the land and builds the house the banks wont do it. As previously stated accountant NEEDS to know what they are doing and make sure they explain all the good & bad points before you enter into it.
We have had a couple of clients purchase this way which has been a challenge at times but in the end works out perfectly as it is neutrally geared and making the fund money.
Matt, you can pretty much bank on around $1400 – $1500 per square meter but it really comes down to your inclusions! Our homes are built for around the 270k mark which include Chef, Westinghouse & sometimes Miele appliances which is a big difference to the Chinese crap available as we usually build 5 at a time.
i.e. worst case $1500 x 200m2 = $300,000
If you have a design you want quoted feel free to email it through and I will pass it onto our builders and see what they come back with.
If you need any further information with regards of where to and not too purchase in Chinchilla we're more than happy to help!
Hi Natasha,
We have quite a few clients coming in from WA as they are very like minded to us QLD'ers although i'm a ring in from south of the boarder. Gladstone is a great region to buy in and yes you do have to be wary of what you buy but what you probably dont know is there is 5 main builders in the area with 2billion real estate/marketing companies competing for peoples business and its very cut throat.
Kent gave some sound advise in saying look for things that may add value to the property in years to come, simple things like larger land mass that may be able to be further subdivided in the future, a external flat or shed goes a long way along with furniture packages.
If your interested in knowing more we are more than happy to help you out even if you don't purchase one of our packages. My one question to you would be what is your main reason for investing into Gladstone?
Was one of the first investment books i read and changed my life. Great starting point!
People truly don't realise the wealth throughout the Surat & Bowen Basins.
Our clients whom have purchased in Chinchilla have seen 50k in capital growth over the past 6 – 12 months. Roma clients have seen solid capital growth also but the rents have remained very high even through the tougher times.Now is the time to buy as it is going to go banana's of the course of the next few years and you need to hang on for the ride.
Hi there,
The best place to invest really comes down to what you want out of the investment personally. See below
– Dalby – would be careful here right now due to flooding and over supply. On the plus side it is a great town with a lot of backing, only an 1.5hrs from Toowoomba & 3hrs from Brisbane and is the gateway to the Surat Basin.
– Chinchilla – my personal favourite due to high capital growth predictions, major retailers coming to town currently like Woolworths, McDonalds, KFC etc, large mining companies around – Extrata, BHP, Santos, Link Energy, 200 years worth of gas (LNG) reserves, 20-25 years worth of coal reserves, direct rail link & LNG pipelines to Gladstone and it is backed up by a massive agricultural industry.
– Miles – great area also, good solid growth, excellent rental incomes right in the middle of the mining boom
– Roma – massive rents (cash-flow positive), beautiful town, has its own airport, all major retailers already in town and sits on the the same mining interests as Chinchilla.
– Others? Too many others to list but you need to look at the size of the towns, what is the longevity of the town, why is it a good place to invest and does it meet your investment long term strategy.
Hope this helps, don't hesitate to contact me directly on the details below if you would like some further information on any region.
gronk007 wrote:AIF QLD wrote:Hi all,As we are all a community hear, I thought i would share some of our experiences we have recently had with a couple of finance groups that you should all be very wary of and make a list of it to keep everyone informed.
- Firstly a group going by the name of Columbus Capital, our group has had all sorts of dramas with these guys trying to force clients into a corner to settle and then upping the rates into default rates for not completing…
- Secondly a group going by the name of Viking Capital – Chris Jarvis & Gary Simonite gave a client an indicative offer for one amount on a project in QLD with a fee to be paid and then came back with an offer that was half the original amount and the interest rate went up 5%. The fee also was non refundable, so they get people in with an indicative offer that looks good, pay your money and then don't deliver on what is promised.
Extreme care needs to be taken when dealing with these groups. They are a very slick outfits and lucky for us our clients were able to get out before anything else happened.
Your not part of the AIF Mob who used to finance hardware with the Clear Telecoms Group?Nope, we are independent group set up specifically for residential/commercial finance & investment properties specialists.
I cannot believe this tool is still in operation. We had issues with him many years ago whereby the state & federal police were involved, along with the all the mainstream lenders had stopped lending to them. BE VERY WARY OF BHART & his groups they are not very nice people.Mark,
Word of mouth is the best way to get people involved. Why dont you go back to your other investors and see if they have friends/family whom want to do something like what you are saying. From my experience it all comes down to the return $$$.
Guys,
The only way this can be done is if the developer/builder issue a COS on the completed property or combined house land package full purchase amount all on one contract so the construction element is taken away from the scenario. The developer/builder will then have to construct the property off their own backs so meet the bank regulations.
We have done a couple this way and it has worked don't be surprised if the up the price a little because of it.
Regards,
DougieQLD,
We have a few options that might interest you and it doesn't require you to have a job. Excellent returns of up to 5% per month and no this isnt a joke – money makes money.
If your interested to know more feel free to contact me on the below details.
Regards, Trent
Whom were you dealing with at STA? Was its Gary aka Gurkan Secersi?
Pommy Ian,
There is limited stock available in Gladdy, when it comes on it is snapped up very quickly as there are quite a few people whom are similarly minded as you. We have some stock up there available now ranging from 300k – 600k. How much did you want to spend?
Feel free to give me a call or drop me an email for further info.
All of the above is pretty standard stuff really… We advise clients of the same thing, don't charge for it however a point of difference for us is following the mining booms throughout the Surat & Bowen basins. John has made his fortune through property i am led to believe and does it extremely well, not much can go wrong with this advice if you want a safe investment.
All checked out from both the referring party whom we have had dealings with for many years and the new companies references whom were personally known to our group through other dealings.
There are builders around whom will do that, I have two groups you can speak too listed below:
Ken Cornwall 0411 136 599 is a good friend of mine & based on the Sunny Coast whom builds this style of building
Global Group – Barry Jakeman 07 3236 9000 based in Brisbane are larger more commercial builders but they will do the smaller stuff if required.- Firstly a group going by the name of Columbus Capital, our group has had all sorts of dramas with these guys trying to force clients into a corner to settle and then upping the rates into default rates for not completing…
I cannot believe this tool is still in operation. We had issues with him many years ago whereby the state & federal police were involved, along with the all the mainstream lenders had stopped lending to them. BE VERY WARY OF BHART & his groups they are not very nice people.
