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  • Profile photo of johnno2johnno2
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    @johnno2
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    December 31, 2005 - 2:16 pm

    Hi Joelc
    Fanstastic effort keep that mindset rolling along eventually you will have private means & your friends will still be working & under the pump
    I have always paid 30to 40% deposit on low doc does not matter how much deposit you have to pay just get in the game you can always refinace later if need be surprising how well this caper goes after a while if you stay conservative the money & assets just keep accumalating just be patient hope this helps johnno [biggrin] 5

    Profile photo of johnno2johnno2
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    December 30, 2005 - 12:16 pm

    hi kb1975
    Would start with smaller project like buy & small reno or touch up rent out get other people to help pay the mortage dont forget you have to wear all the costs on townhouse developments & it can be along drawn out process
    Friends of mine have been doing two townhouses on the one block taken maybe three years to do finished in November
    tried to auction one guess what not one bid & no offers since (still got huge interest bill to pay with no help)
    In that time i have bought several houses all being rented except one which i am renovating & living in
    Hope this helps

    Profile photo of johnno2johnno2
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    December 25, 2005 - 4:18 am

    Hi showersinger
    I have never bought this type of investment always hovells to value add worked for me some say that part of the profit in the next up cycle as gone into the builders pocket however if you feel ok the best time to buy property is yesterday

    Profile photo of johnno2johnno2
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    February 3, 2005 - 12:33 pm

    Hi Phillip Many thanks we did suspect the screen –
    but we did need confirmation – got new screen & guess what, the program works a treat! [biggrin]

    johnno

    Profile photo of johnno2johnno2
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    October 4, 2004 - 10:16 am

    Hi Apprentice Investor
    I use Bruce Gordon for all my properties in Melbourne he can be reached on 95021123 Fax 95020157
    Email [email protected]
    Good luck
    johnno

    Profile photo of johnno2johnno2
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    December 15, 2003 - 1:09 pm

    Hi riffraff& younginvestor i am in the Upwey area thrilled to get a reply my email is [email protected] please feel free to contact me i would be delighted we maybe then could discuss stuff Regards johnno

    Profile photo of johnno2johnno2
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    December 9, 2003 - 11:22 am

    Hi RobAde i can Rec Mark Walters 98210666 he is really switched on regards johnno

    Profile photo of johnno2johnno2
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    October 16, 2003 - 11:43 am

    Hi Maggie
    Frankston Nth is the original Housing Commision area in Frankston
    Corner Ballarto Road & Dandenong Road up to the golf course Prices seem to remain steady in a down market but do increase in an up market like [:)]we are in at the moment
    In my opinion there are better buys in other parts of Frankston. Doubt you will get the 11sec job though

    Regards Johnno

    Profile photo of johnno2johnno2
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    October 16, 2003 - 3:56 am

    Hi Maggie
    Just renovating a property in Frankston working O.K. for me but i treat it like a job & buisness anyway buy & hold is my system

    [:)] Regards johnno

    Profile photo of johnno2johnno2
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    September 21, 2003 - 8:20 am

    Hi action man sorry about the mixed reply am new to this site trying to work out how to use it]

    Profile photo of johnno2johnno2
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    September 21, 2003 - 8:11 am

    I understand closing cost to be all expenses over & above purchase price ie stamp duty, mortage stamps etc [:)]quote]
    A rather simple question, unfortunately one which I don’t quite understand 100%.
    For those of you who have read steve’s book, he referes to closing costs as part of the initial cash needed to aquire a property: for example

    Initial Cash needed to aquire the deal:
    Deposit: lets say 10% $10,000
    Closing Costs: $??????
    Loan Establishment: $800 (as an estimate)
    Initial Cash needed: $(obviously $10,800 plus closing costs:

    Can someone define closing costs for me please!!
    [/quote]

Viewing 11 posts - 1 through 11 (of 11 total)