It’s rather difficult to ask a book to clarify a point you don’t quite understand[tongue]

Kez

More investment strategies —> http://www.21stcenturyacademy.com.au/cmd.php?af=199400

Thanks Simon

That’s exactly what I was looking for.[biggrin]

Kez

More investment strategies —> http://www.21stcenturyacademy.com.au/cmd.php?af=199400

Do you own the town house outright, or are you still paying it off?

If you’re still paying it off, would the rent you’d get on it cover the repayments and running costs?

If you own it outright, have you thought about taking out a line of credit to purchase other IPs, or to help with your move? You could set it up so that the rent covered the LOC…[Read more]

Thanks bb:)

Kez

More investment strategies —> http://www.21stcenturyacademy.com.au/cmd.php?af=199400

hi syneric

Why don’t you approach several different lenders and see what they say. If none of them will come to the party on it, you could always buy it for cash, then use the immediate equity to borrow for more properties. Even in the most outback of country areas, I imagine it would be easier to get an LOC or something like that on a property…[Read more]

Hey Bradles

If you do it right, you won’t be paying off $300,000 on a single wage. You will do your research properly to ensure that the properties you buy will be at least CF neutral, and will pay themselves off. Then your single wage will be free to be used for other things [biggrin].

Cheers

Kez

More investment strategies —>…[Read more]

Hi … not exactly the same topic, but kind of related. I searched for “renting own home”, and couldn’t find what I wanted with a quick scan.

My situation is that I’m in the Defence Force and own a suitable property in my posting locality to live in. If I didn’t own this property, I would be entitled to rent assistance. Since I own the property,…[Read more]

Speaking from a tenant’s point of view (I rented for years before I finally bought a place), it is very upsetting and traumatic to be ousted from your home just because it is convenient for the owner. I had this happen to me a few times as a tenant, and it really disrupted my life in a major way. You’re talking about ‘kicking the tenants out’…[Read more]

Hi Rob

I just watched a video of Ian Daily talking at a seimnar. He is some big wig at ITP. He was saying something about trusts not being such a great idea any more. Something about the govt changing the rules, ‘cos they don’t like not having control over trusts as they come under common law.

Ian seems to think that the govt plans will make…[Read more]

Hmm … Jack does get around. I just saw some of his posts in another forum, offering advice on investing in shares. Maybe he is a 42 year old share market expert, and a 22 year old property market novice?? [blink]

I think most people do wraps to turn a CF- property into a CF+ one, or as an exit strategy. If you are more intersted in CG, maybe a wrap isn’t the right thing to do. Once you sell the place to the wrappee, the end price has nothing to do with you. You have sold it, the same as if they paid cash, except they are paying you off over a period of…[Read more]

Hi PT

With a question like that, are you sure you’re thinking of wraps, and not lease options? Sounds like you are maybe thinking of a future price for when the other person exercises their option to buy.

If that’s not the case, just pretend I’m not here. If that is the case, I have no idea, but will be eager to hear the answers!

Cheers

Kez

Thanks very much everyone[cap]

I’ll pass this all on to mum and see what she thinks.

Have a great day

Kez

Paul

What would happen if the wrapee just up and left? Would you just rent the property out or wrap it again? If the wrapee decides to leave, are there any obligations on the wrapper? Would there be a clause in the contract to cover this sort of thing, and what might it say?

Cheers

Kez

The rent … well, I was thinking that maybe Kerris Holdings might supply the house as some sort of tax free employee benefit. Not sure how, but there’s gotta be a way to do it … just gotta find it[biggrin]

Mortgage Wizard … ummm …. Advisor … ummmm …. the storm trooper [tongue4] … good idea. I might drop him and email. Have you got a…[Read more]

Is a trading company one that buys and sells the properties?

Kez

After doing some reading, I actually have an idea of forming a couple of companies. One would be the working company (ei. Kerris Renos Pty Ltd), and would not own any of the properties. Another would be the company that owns the properties (ie. Kerris Holding Pty Ltd). And then there would be me, who owns nothing, but works for Kerris Renos, doing…[Read more]

See, there’s the rub. What I plan to do (once I have gotten to a point I can give up full time work), is to buy a doer upper, live in it while I do it up, then do it all again with another one.

So, (if all goes to plan) I would be only living in each place for 6 – 9 months, and then moving on. Would I change each to my PPOR when I moved in, or…[Read more]

Hiya P

You say you want to sell because it is costing you money. Have you thought of using a different strategy to reduce the cost of owning it?

My mortgage is terrible at the moment, and I am paying really high interest. For a while I thought about selling, but now have decided to refinance. That will make a huge difference to my repayments,…[Read more]

D’oh! Silly me! *slapping my wrist*

Fancy thinking that and inexperienced “newbie” would have anything credible or logical to say.
My, I have so much to learn.[blink]

Kez