What on earth has happened to this thread???

I too will watch this with interest; a ‘grey’ area if I’ve ever seen one.

Only initial advice I can give you is to read, then read some more, and when you’ve finished, don’t forget to read. Oh, and then, before you’re ready, jump into the market with something close to cf+

I finally fixed it.

I’ve never sold under mortgage, but have been close; and when considering all costs, I have come out in the red. Tough times unfortunately call for tough measures.

PS. Great posts on your Facebook page!

No probs Jamie.

Hey Derek,

Still working on the business plan, I’ll probably start from scratch and learn along the way. I find I’m procrastinating a hell of a lot, so it’s time for action!

Thanks for your comments.

Hello Anthony, Can I please still this for my blog?

Thanks in advance,

Andrew

Lenders often allow you to include the fees in the mortgage taken out on the property (the stamp duty and the fees). Look into this…

Why not cross-collateralise? I have found that it is far easier to get loans approved, get good deals and banks ACTUALLY want to talk to you once you have a large amount to bring to the table. Think about it….

Cross collateralising only becomes an issue if you are trying to offload and you wont re-invest your profit by paying down a loan. Think…[Read more]

This is a great thread…perhaps Ben you should read Rich Dad, Poor Dad….it’s kind of different, but still relevant to this convo.

Congrats on taking the step!!! IF your income is large enough and you can do the numbers favourably for another cf- property, do it now!!!

The thread title sort of sounds like 300-400cf+…but anyway, this may be a good deal for someone…dog box or not…

From my experience, cooling off periods are a waste of time anyway. If you want out, you can always default on ANY building inspection, or possibly on finance through the relative clauses…I PERSONALLY wouldn’t worry about it….you may choose otherwise…

Billyboy wrote:
I'm new to investing and would like to start with purchasing cashflow positive properties. 

Don’t we all????

You won’t have trouble finding a lender if you go straight to a recommended broker…

I’ve been following hone prices too….I guess boring at these prices is becoming easier

Oh sorry….on many occasions I have made a deposit with $1000….

It depends on the deal, if you are really keen, offer your max, otherwise, 1000 should do. It really makes NO difference. You can always get your deposit back…

also, what are people expectations if the grant runs out, (goes back to 10k)? will property die, cause i highly doubt ;s, at the levels im buying at anyway (250,000-270,000)
No, property will not die.

also, if we buy a house, we cant put a 10% can we, because that would have to be our money, is that correct?
No, there are may different types of…[Read more]

As long as you are intending to rent this property, I am of the understanding that you can claim deductions. if I were you, I would source the finance to get the plumbing done, then rent it…you got yourself into a real pickle….good luck….