If she will carry, why don’t you get a no docs at 65% LVR. That way she gets a big hit upfront.

Hellman

Is property the absolute best way to make money?

Yes, where else can you find a way to make $$$ while u sleep and still capture Cap. Gains (many peoples houses have double, or risen 100%+ over the last few years).

As for share trading, it can be good, but I know many more failures than winners. And with property unless you have done some thig…[Read more]

Gross Relisation has proved a perfect outline of the pros and cons. If you were going to go through with it (though as I said before I seriously suggest you take GRs advice) would be to triple check the vacancy factor as well as the rents you can get.

Also there was no managment fee or maintainance fee in your figuers. If you had a plasma TV and…[Read more]

http://www.jaffasoft.com

Or of course there is Steve McKnight’s Investment Detective.
-> https://www.propertyinvesting.com/resources/24.html

Hellman

“How do people feel this affects the investment?”

If the are is in demand from those type of tennats then it shouldn’t be a problem.

Also it being residential could mean you could see to a developer.

Hellman

Commercial

Pros-
~Higher CF
~Tennants pay for outgoings (usually)
~Sometimes higher deprication

Cons-
~Higher Deposit Required (Minimum of 30%, usually more like 35%)
-Once a tennant moves out it can be much harder to attract a new one (unless you offer cash backs, which decrease your yield – city offices).
~Can be much higher risk:
-Can have…[Read more]

29,000 public sector job losses…. I read recently a senior labour figure quoted approx 33,000 PS jobs were not needed.

I am delaying alot of gratification for long term gain. But it won’t be long before it tilts to gratification over money. Though I must say doing deals is fun.

Hellman

Thanks Hellman,

“So is the thinking the same when it comes to general residential property?”

>Not really, see if you select’established’ house suburbs, usually developers aren’t going to target those areas (and flood the market). Also you usually get a higher density of home owners which means you’re never going to get a flood of selle…[Read more]

Because of the massive amount of supply for these type of apartments, banks are very reluctant to lend on them. Also when they are 2-3yrs old they tend to rent for less than ‘new’ apartments (which are seen to be newer/better by tennants).

As for -gearing your servicability comes mainly from your income. In the ends the bank only care that you…[Read more]

As long as you charge market rent, what you are proposing is very achievable.

You may have to prove to the AT0 that the rent is market rent. Simply get a few RE agents around an ask for their opinons of what the proeprty would rent for.

Hellman

The con with land banking is two fold. 1) No income; 2) It can take a very long time (which can also have it’s bad points in terms of different Gov./Council agendas).

Hellman

My guess is that you are repo’ing the house to pay the solicitors debt and when you have stumped up the full amount for what you paid for the property, that will pay off the 1st mortgage.

Perhaps the same solicitors had lent out the funds (some solicitors have funds of client’s money which they lend out) and are now selling the property because…[Read more]

I just was thinking the same thing!

Creepy Hellman

I don’t use a bank manger for finance (although I have a ‘personal banker’ – I just don’t use them) because I find mortgage brokers to be better. The mortgage brokers on this forum are in my opinon great. Their high level of knowledge and eagerness to help and explain is a fantastic resource.

As for other team members (lawyers, property managers…[Read more]

pabbs73 – “Does anyone know of a ‘Switched On’, financial adviser/broker”
—
Beast – “actually Im looking for the same thing but I’m in Sydney.”
—
Beast – “I never said I wanted a broker.”
—

I’m confused! Beast if you are looking for an advisor it is very difficult to find a finacial advisor whom knows about property, because they make no…[Read more]

Probably not…

As a watchdog it has to be able to guard property, and really I don’t think a susage dog could do that (for example it couldn’t really chase thieves that well).

However if you did alot of short term accom. then you *might* be able to claim the animal for public relations / marketing. For example if you used the dog on say your…[Read more]

60 days!!!! I’ve had home loans with corporate trustee (company) and trust in 30 days (damn valuers always taking too bloody long….).

Hellman

Best to go here for your question on mobile parks (as in Aust. it’s slightly different – finance, etc).

MMF – Jerry Hoganson’s MobileWealth Forum
http://www.mastermindforum.com/phorum/list.php?f=14

Hellman

grossrealisation can you perhaps show us your workings when working out what is FMV for coreyjay’s property – I would be very interested in learning this methodology.

Hellman

Looking at your portfolio buying a residential +CF ain’t going to help much (the best I’ve found is around $2K p/yr cashflow). Also because you are losing $10k per yr, and your portfolio is only $4k away from 80% LVR I don’t think the banks are going to lend you much more than what you’ve got (esp. if you are losing moeny on it).

I guess my…[Read more]