Thanks for quick replies scott, terry, felicity and richard.[cowboy2]

Del. I beleive exchange of contracts is at the start of the wrap deal.[dead2]

lifexperience

I posted full answer for 1 minute, and have revoked it.

Sorry all if you looked and saw answer….

It took me 45 minutes with pen and paper.

Can anyone do it in their head?[daisy]

OK, I got the answer. SO DON”T SCROLL DOWN IF YOU DONT WANT TO SEE IT

[curtain][curtain]

lifexperience

If it is an older flat, could you get in there and renovate.? You may increase the rent you can get and also build some equity to jump-start some pos cash props.

Best of luck.[cowboy2]

lifexperience

I too am relatively new to investing and know that feeling when you race into investing with eagerness for all the joys of financial freedom and then get the instant reward of hard-work, frugality and doubt creeping in.

I am living with a mate on a similar income who is just a few days older than me. He is partying it up, driving a new…[Read more]

If the place is already renting to students, should be ok.

remember though if you are setting it up, there are a lot of traps depending on how you do it. Shared houses for instance have a whole booklet of extra rules and insurance can shoot through the roof.

Also students are short term, and may only need 9 months of the year, thats 3 months of…[Read more]

Basic Categories Are

Money you give to Real Estate Agent (10% Deposit)

Money you give to Lender/Bank (initial loan fees, LMI, Lender Lawyer fees etc)

Money you give to Conveyancer (stamp duties, title office fees, remainder of sale price, conveyancer fees etc)

Oh….. and two more I forgot

Money for Insurance (building must be insured to get…[Read more]

the author makes an interesting observation about philosophy and people. he says that when you become interested in philosophy and you start to understand the human condition you begin to realise that ‘most people know very little most of the the time’ ie that once you realise that people in general dont know what they are doing then the world…[Read more]

Code:
the author makes an interesting observation about philosophy and people. he says that when you become interested in philosophy and you start to understand the human condition you begin to realise that ‘most people know very little most of the the time’ ie that once you realise that people in general dont know what they are doing then the…[Read more]

I had a tenant who was doing extra garden work and free painting in my property, so i bought him a slab of beer. (bottle shop had a deal on 30packs at the time)

Anyway, tenant got real boozey and violent. Attacked, abused and threatened other tenants and was given an immediate notice to vacate a week later.[huh]

lifexperience

lil man,
ok..this is from memory.

Sale price subtract loan amount and subtract deposits already paid.

Conveyancing
Water and Rates Search
Titles Office Search
Stamp duty on Land
Stamp duty on Mortgage
Titles Office Fee on Land
Titles Office Fee on Mortgage

Council Rates for remainder of year
Water Rates for remainder of year

Lenders Mortgage…[Read more]

I am currently confused about customer service.

If it is too good, customers try to take advantage of you.

If it is poor, customers don’t come back.

If it is in between, it is just average service.

I was talking to a guy who sells alcohol in a liqour shop over the weekend, and he has to deal with a lot of drunks trying to weasle cheap drinks.…[Read more]

It seems a lot of people want to give up smoking and don’t.

Just an idea, This forum has a lot of ambitious and successful people who would never ever “give up” in any part of their life. Maybe try changing the goal from “giving up smoking” to “Conquering a minor smoking problem”.

But if you are still having trouble, then maybe your train of…[Read more]

Ah, I don’t really need anyones hour.

Hey, with the right meditative state of mind, I should be able to drag out eternity in just one moment.

Each hour is precious, you might not get it back, so let everybody join their spare hours together with me in a universal quest to design and build for….HOVER SHOES.

[hat]

lifexperience

Trying to define your own personal exact “why” you want financial freedom.

The basic answer is to remove the need to work in a job so as to free up maximum time and still have the financial means to do what you want.

But exactly what you will do when you acheive this, is perhaps the truer question?????

gee.. if you really analyse it, you are…[Read more]

september 11

lifexperience

hmmmm,
There is a guru who says that once you find a “why”, the how will follow.

So if you can find a strong enough reason to attempt to follow those people who have created financial freedom for themselves, then you should automatically be free.

My reason is this:

I need financial freedom as soon as possible to live my life without…[Read more]

can i have it jet?[drummer]

lifexperience

If you had a clause that made the sale subject to a satisfactory building inspection, and you feel that the extra repair costs would not be a good deal for you.

You can simply tell them that you will not be buying the house unless they

1. Fix the problem…or
2. Reduce the sale price to something you are happy with.

It is my understanding that…[Read more]

Hi mango,
I’d also like to do credit checks and maybe even police checks on potential tenants.

Can anyone post who they do checks with.

Plain old phone references have got me into trouble so far.[cry]

lifexperience