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Not to sure yet,, but thanks for the info.
Is a percentage charged more common than a flat rate fee? Only curious because the agent I might use charges a flat rate fee, which could end up more expensive especially if he finds me cheap properties.
I'm concentrating more on positive cash flow, so your right my current property is providing that, i think i just got a little excited and ahead of myself, to think just maybe i could do more with my money, but as ive been advised your portfolio needs to have a mix of high and low risk properties, i think my current one is low risk, and if i were to deal with my mate, it could be potentially dealing with higher risk properties. So i think i will keep my current property and just refinance and save a bit more and go from there, thanks again for all your suggestions, great site.
There all good points, but something I forgot to mention is that my property is only cash flow positive because I have an interest only loan, if i was paying the principal as well I would be losing about 60 bucks a week, but I do recieve around 7000 in depreciation, does this change any of your views, wouldn't It b better off purchasing something or even 2 properties that are positive cash flow and also pay the principal off aswell???
jmsrachel wrote:The question you need to ask your friend is have you done this with your money before? Or do you want to practice with my Money first?Him and his boss have been doing it for quite some years and have quite a few clients. They are good at what they do, but my dilemma is should I sell my property and start again with them, I think what I might do is hold on to my property and buy my next one through them and see how that goes. Thanks very much for all your replies.
Well I'm guessing that if he can buy me 2 or 3 undervalue it's going to have instant equity and also be positive geared, so I'm assuming it will make more money.
