Forum Replies Created
You got it right Paul.
Landt.Not 48.
LandtHere’s another one.
You’ve got a bag with 50 gloves inside. 25 left and 25 right. How many do you have to take out before you have a pair.
LandtHi Simon,
my thought was that a property worth $150K would not get a rental income of $250 per week, and I wondered if maybe the RE had inflated the rent to make it more attractive to buyers. Of course I’m really happy and a bit jealous if this is not the case.
Landt.Hi Mandy,
I have to say that I’m a bit worried that you’ve been sold a property with an artificially inflated rent. If you can still get $250 rent after the lease is up then I’d say you’d bought well.
Good luck.
LandtHi Navis,
welcome to the site, I think you’ll find it very very useful.
You will also find that there are not many cashflow properties just sitting out there. You have to go out there and make it cashflow +ve. It might be valuable for you to buy Steve’s second book, and get some ideas from that.
Good luck
Landt.Hi Techhowse,
I haven’t been to one yet myself, but everyone seems to rave about Steve’s masterclass. maybe that’s a place to start.
Landt.Hi TurboB,
don’t forget that there is no cooling off period with an auction. You must be prepared to leave a 10% deposit, unless you have made prior arrangements, and the contract is unconditional. Be very sure that it’s what you want before you make the winning bid. Good luck, and let us know how you get on.
Landt.Hi Westan,
I don’t know if it will help, because I have no property in the US, but being a Sottish catholic, I have millions of cousins in America.
I’ve never met any of them but they’re all in my address book and I’d be happy to email and ask them if they have any ideas. I’ve also sent you a PM.
Please let me know.
LandtHi Wilko,
I’m in the same sort of position, and have recently spoken to Simon about using his services. He’s put me on to someone in Melbourne, and although I haven’t settled anything yet, I’m really happy with the level of service, and the interest rates that have been offered to me. Just my 2 cents.
Landt.Hi Lister,
when you’re buying your first IP it has to be something that you are comfortable with, since it’s a scarey prospect first time around. Land will always go up in value, but for my first IP I found a flat that had a huge courtyard, in a great location and it has nearly doubled in value in 5 years. So just do your due diligence, keep searching and the property that feels right for you will turn up.
Landt.Hi Wingnut,
welcome to the forum. I live in Melbourne, and I have to say that you’ll be hard pushed to find any properties here that are cashflow +ve. However if you buy in the right areas,at the right price, you should certainly see some capital growth. You may find it useful to buy Steve’s second book that gives you some ideas on how to capitalise on a property to perhaps make it cashflow neutral or positive.
Landt.Hi Mike,
the only thing I can see is that it’s quite a hike in the rent, and you run the risk of losing your tenants. What you’re proposing is an increase of around $32.00 a week, so even if it’s comparable with other rental properties, it’s a lot in one hit for your tenants. Maybe you could split the increase into one increase now and another in 6 months, to soften the blow. Just a thought.
Landt.Hi Infinate,
I would assume that when it comes to tax time you simply record when it was no longer an IP. You would stop claiming any tax benefits from that point. You should then have bills and statements in your name to prove it was a PPR from that date. I’m interested to know if you have to do anything else.[exhappy]
Landt.Thanks Kerwyn,
Landt.Hi all,
why is it that the interest rates are higher in NZ than in Australia?
Thanks
Landt.Hi Calvin,
thanks for sharing your knowledge, but looking at the figures you provided the properties would not be cashflow +ve. Please tell me if I’ve misunderstood where you’re coming from.
Thanks
Landt.Hi Dazzling,
I don’t suppose you’d like to share with us where the other 16 are since you’re consolidating at the moment? Please feel free to PM me.
Thanks
LandtHi John,
I agree with Sharon. I also have a friend who lives in a share house and loves it. The couple who own it apparently have 2 in Melbourne and have included all utilities in the rent, plus they cook all the tenants a hot meal every night. I couldn’t tell you if it’s making any money, but the house is always full.
Landt.Hi Steven,
so far I’ve called RAMS twice and they tell me they’re very very busy at the moment and someone will call me when they have time.
Very interesting!
Landt.
