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Hi Folino, I would go to 2 or 3 accountants and advisers before deciding what to do as each person may give you a little better advice.
This is what i normaly do and it may cost 3 or 4 hundred dollars to do this but it can save you tens of thousands of dollars depending on the way you set everything up.C2 that would be ripping the other person off, if they contributed half the deposit at the start then they should have half of what ever its worth on todays market obviously less any costs.
leoau. you could minus half the realestate fee of what you pay the other person. as this would happen if you both sold the property now. If you don't minus this fee and you buy the other person out, when you eventualy sell you will cop the full agent fee.
Iam sure it says FIRST HOME OWNERS GRANT. i did ask my accountant he said no you can't get it if you own a home but have rented this out. he done some research and now he says yes you can possibly get it because the other property's are investments and now you want your first home you are going to live in.
well will this work you buy house at $300k you pay stamp duty on $300k the vendor pays tax on $300k (if any) the banks loan you 90-95% on the $300k its also valued at $300k
Now the vendor gives you a gift of $15k Or $30k surely thats just like receiving a plasma tv for your christmas presentI don't see why you can't up the loan take some equity out and pay the other person. but prob run it past your accountant
Hi Kev.
i agree with most above don't listen to your mates or even family. Listen to yourself you will no what you want and how you will get there. study as much as you can and learn as much as you can. Ive just spent 4 months studying approx 800 hours on the net learning all about recisions and my new local area etc. And after all that ive made $150k. Read michael yardney's book (how to become a multimillionaire in your spare time) there is some interesting advise in the book. some people don't like michael but you may learn a thing or two and thats all that matters at the end of the day.
Hey harb, you say global warming is a scam and scientists are ripping everyone off saying there is global warming. how do you no that the honest scientists arn't the scammers trying to earn that quick buck . my mum lives on the water front and shes been saying for the last few years the sea levels have been rising up the wall outside the house, i didn't take much notice then the other week they had motor scrapers going up and down the beach removing half a meter of sand, have they been outside your house lately.
Hi again whats the interest rates start at for commercial property
Hi Is no doc still around or is that gone. And who is left that still will do low doc and whats there floating and fixed interest rate. Cheers
hi if you no alot about the town your looking at buying in or you live in the town its probaly not a bad idea but if you don't no much about the town you might find the house will sit vacant quite alot as 3000 people is not many unless theres a shortage of rental houses and it will probaly be hard to sell later but it all comes down to if you buy it right and at the end of the day $60k is not much
no point in looking at sharemarket unless you no what your doing or you study it for quite a while. you mite want to go to a good mortgage broker and see what you can actually borrow the economy at the mo has made banks tighten up and a bank prob wont look at 95 and 100% loans way to much risk for them but it would depend on your own circumstances. let us no what you do
you have to look at the $338 extra your paying in rent thats $17,576 p/a. if you have owned for 5 years you have already lost approx $88k in interest today the unit owes you $518,000 if you sell today you loose $150k if you hold for 5 more years it will owe you near $600k do you think it will be worth $600k in 5 years. just one way to look at the dollar side of things
Don't forget realestate fees when you sell they will eat that $13k. be carefull with building get all fixed quotes as you can easily loose that $13k on unexpected costs. you would almost be better of offering $350k or less for one that is already built. but thats just my thoughts you may have other ideas
businessglobal wrote:There is never really a right or wrong time to buy, it depends on the deal, your strategy, goals and financial circumstances. The last few months I have purchased 15 properties, and building a few homes also, and the buying has been very good, and decent margin in all of the purchases. A lot of it comes down to finding the deals, contacts, strategy. There are always good buys in the market, but you must be ready, finance approved or cash, short clauses, quick settlements,and know your market inside out where you are buying.I have been in property for nearly 15 years now, and found the last few months has been some fantastic opportunities out there, dont follow the sheep and run for the hills afraid, research, speak to highly specialised people, investors buying up now, speak to buyers agents, advisors, valuers, and switched on agents to gather your info, and facts.
Always make sure you have enough cash to back you up if needed, dont buy others problems if you dont know how to fix then, no matter how cheap and try to learn from others that know or own more than you.
Goodluck- assess each deal on its merits, location, price, value, potential, demand and pain thresh hold – if you can hold in worst case scenario, then it can only get better.
Watch the flow of money, I am fortunate I know a lot of greeks, lebanese, italians and have a lot in my family so I watch and listen to whats going on, where, and try to learn from others that have been doing property nearly 40- 50 years.
Stay positive, and if something doesn't feel right, well don't do it, there are opportunite's out there daily, you just have to get off the phone, net, out of the cafe, unchain yourself from the office desk and pound the streets looking for opportunities and talking to the locals and ask lots of questions to educate yourself whats really going on in the market, and where the deals are.
Bye-
hi i like your posts you have your head still on top of your shoulders and your doing things in the way that you will not loose
not like some of these negative people on here most of you talk a whole lotta shit.
if i listened to people as i was growing up i would probaly be broke today. don't start your own business you have a good job yea what making $12.50 per hour. don't expand your business but i did and doubled my profits. then those same people were saying don't sell your business your doing so well but i did because i could see the economy was going to crap out and it has and the work has dried up. then people said dont move to oz why not the weather is better and i go there for 2 months a year for a holiday. ok then you want to transfer all your nz cash over to oz if you dont you will loose thousands and if i do ile loose thousands so what did i do transfered enough to set my self up buy a car furniture and have a little play money but that transer hurt 79cents to the dollar then i sat and watched the housing market as well as the exchange rates what happend the exchange rate got good for me 90 cents to the dollar then droped to 87cents o shit o well ile catch it next time ile lock in 92 cents it mite bounce back and it did on saturday.
so i beleive do whats best for you and don't always take other peoples advice most of them havn't done it them selves so how would they no if its going to work or notmy 2cents with the economy 30% drop in house prices from its peak give or take depending on where you are in oz. you may see the odd 50% drop if a fool paid way to much when it peaked. i looked at a bunch of industrial units 3 months ago and offered 35% less than the asking price it was refused so i walked away ive just been offered them for 20% below what they wanted i turned it down an will now sit and wait till they realy hurt as they have not leased any of them or sold any of them in 3 months
hopefully you under stood most of this my writing aint the best since i left school at 13
thanks for reading
