Hey

I was just wondering do the banks actually lend you so much money.. for example:

I buy house number 1 with a loan of $170K and its neutral geared. Will the banks actually lend me more money to buy another house even thought i already have $170k dept? Is there not a limit that they will lend to a single individual on a 50K p/a income?

For…[Read more]

How much would you have in your bank if you liquidated all your IP’s and paid off all the loans Nathan? (if you dont mind me asking)

Nathan Birch wrote:
Sorry I meant 34 buy n holds at 25. Damn iphone.

Hey Nathan, how many do you still have loans for?

Say you fixed an interest only loan for 7 years, what happens when you finish the 7 years.. do you have to pay the loan back?

Can you pre-pay a variable interest only loan?

[“PROFIT: $30,768*
*Before tax”]

How much will you pay in CGT?

What tools/methods do you use to research a suburb?
The things I came off the top of my head were: walking around the area, checking public transport, shops, entertainment and avaliability of jobs, checking upcoming developments, checking zoning on the area you want to invest in… medium house prices, medium rents..
Have I missed anything?

Thanks Angel.

How much does a quality property manager charge for their services? I assume you only need one when you have developed a large portfolio of houses (10+ maybe?).

I’m in QLD

Do you think nathans method is the ‘best’ method to use Angel?

How does this work: The newer the property the better the depreciation benefits for tax minimisation benefits?

If I buy a house fo $200 k, renovate it and then sell it for $250k that means I will be paying ~ 25k in CGT however if i used the 50K profit as a downpayment on another house does that mean I pay no tax on it?

thanks angel, i had a think about it and worked it out however your example is really useful, thanks

However at the end of the day I would have 10 homeloans and 10 properties. However it says that the houses will double from 200K to 400K… would they really go up by such a large amount?

*edited* * *: i just worked it out by myself.

thanks.

Equity is your assets – dept right? So if i have a house that is worth $400 000 and I have paid off $200 000 of the loan that means I have $200 000 in equity. So then I can borrow this money and add it back to the original loan right? So i would then have a $400 000 loan to repay but i would have $200 000 in cash that I could use to…[Read more]

Do you also buy properties all over australia or do you stick to one area? How would you manage tenents if you live in another state?How do you obtain finance for a property? Do you go for a interest only loan?How does equity work (from what i understand it works similar to this  (please correcct me if I am wrong) : Buy a house for $200 000…[Read more]

Hey thanks for the replies.

Can i get a real life example of the sort of price-range you work in, amount you spend on renovations how much rent is, how much the loan costs you, how much you sell for?
Sort of along the lines of: buy property for $300 000, rent for $_ _ _, renovations cost $_ _ _, rent after renovations $_ _ _, sold for $_ _ _,…[Read more]

Can i ask what sort of properties do you go for? Do you aim to purchase cashflow positive properties or do you aim to renovate the property to make it cahsflow positive or do you just aim to fix it up and sell it for profit using rent to lessen the amount you have to pay on the loan?

thanks, so there are rental properties that would produce positive cashflow (ie pay for themselves) ??
are they hard to find? Why would the tenant not just take a loan out on the house if the amount of rent will cover the loan???

Sorry about the newbie questions but im new to this.