[madeinitalyMember@madeinitalyJoin Date: 2007Post Count: 47]

October 1, 2007 - 2:07 pm

I really simpathise with you Dasheed, I recently started a similar thread.
I have been searching a lot and CF+ are a needle in a haystack however you can get creative. For example i found a property for 115k that was renting for 160pw, with long term tenants. There was no much chance for CG unless u wait for 10 years and the poperty was very old with huge need for attention. Now I followed Steve's 11 seconds solutions or whatever is called and immediately realised that the property was slightly neg geared. However it came to my mind the idea to offset the loan. In order to do that u obviously need cash which I kinda have. So the property was 115k 10% deposit plus 7%  leg exp + 5k immediate maintenance. Now the loan is around 100k approx with monthly repayments around 800$ p/m on 30 years loan. What i did was I deposited 80k cash that i had in another bank account in the loan account and the interested were calculated on only 20k and PUFF…. by magik the IP became CF+. 
Just an idea
Andy 

[madeinitalyMember@madeinitalyJoin Date: 2007Post Count: 47]

September 30, 2007 - 3:55 am

Well it looks like that other investors are in my some position disenchanted abut some cf+ deals and are quite wary of those who make disproportionate claims.

[madeinitalyMember@madeinitalyJoin Date: 2007Post Count: 47]

September 30, 2007 - 2:29 am

Global mark I hope you are fully aware of the statement you have made:15% return and a growth of 50% quarterly. Thats hardly believable. About other strategy i was thinking about Wrapping but it is hard with low socio-economic classes because they pay through centrepay and cannot afford something without rent assistance.

[madeinitalyMember@madeinitalyJoin Date: 2007Post Count: 47]

September 29, 2007 - 7:16 am

well done dvs.

can I ask you abt sharing your investment in more details

Ciao

[madeinitalyMember@madeinitalyJoin Date: 2007Post Count: 47]

September 21, 2007 - 2:19 am

Hi guys,
I got a phone call from the Rate buster guy. He said he was ready to negotiate if I was happy to wait for two months. I said no thanks then I explained him my financial position and that many other companies would be happy to waive the time rule. Guess what…
He apologised and said that he was happy to send me my pre-approval as soon as i finish my documentation.
Interesting isn't it?
Thanks anyway

[madeinitalyMember@madeinitalyJoin Date: 2007Post Count: 47]

September 21, 2007 - 1:33 am

Well I believe West and South West are bound to go up even moresooner than later due to the rippling effect hitting melbourne's suburbs. People realise they cant live near the city and move to the next suburb. That suburb grows like crazy and they have to move to the next suburb then that suburb goes crazy and people have to move further out and so on…..No doubt you will make a lot of money in the next 2-3 years if you buy now.
My 2cents thought.
Ciao

[madeinitalyMember@madeinitalyJoin Date: 2007Post Count: 47]

September 21, 2007 - 1:28 am

I totally agree with Stumunro!
Confident with time, do it yourself,
Unsure and time poor use a BA!
The only research you got to do for the latter is which BA is a good BA. And probably this will require even more time than searching for a good property deal. My 2c thought.
Ciao 

[madeinitalyMember@madeinitalyJoin Date: 2007Post Count: 47]

September 18, 2007 - 9:52 am

Thank you guys for your golden words!
I have been looking in places like Murtoa, Warraknabeal, Moe, Morwell and Traralgon. All in 6%+ ROI. I will definitely looking into the area you guys suggested. I have 100k available and in the other forum i have started (It's time to start. I need genuine advice!) many people adviced me to play safe and invest in a couple of property around 200k in Melbourne area mainly for CG. However I think that with that cash I could buy around 6 properties around 100k in regional areas (over 30.000 inhabitants) almost neutrally geared. My goal is to retire in 10 years on a decent income. My research in these regional town has shown a decrease in population growth over the years and this is a bit scary. For example coal mines in South Gippsland area bring a lot of business however if the green party will have an impact on the future election they (the mines) could be limited in operations and reduce the economic feasiblity of those places (far fetched and just food for thoughts).
When it comes to purchasing in Country areas I intend to keep them for the long haul unless I would buy development sites.
By the way I am first time investor.
What you guys think?
Cheers
Andy  

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September 18, 2007 - 9:28 am

thanks Wealth

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September 17, 2007 - 12:10 pm

I was looking at Latrobe Valley. Prices are quite affordable and the ROI appear to be around 6% However I am not sure about the vacancy rate over there. It seems you can purchase a "decent" 3b for around 130K

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September 17, 2007 - 8:07 am

I must admit 888Abundance…
You have made some invaluable points, most important I suppose is starting slowly/safely and then grow my experience knowledge in the field. I believe I have a good platform to stand on and especially passion and will however I wouldn't want to dampen my enthusiasm with big mistakes which are usually made at the beginning of something. Probably I''ll start with a unit or something bigger but in the country. What is your view on strata title?
Thanks for your support
Andy

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September 13, 2007 - 3:02 pm

hi Lalibella,
i have thought a lot about what you said and i definitely agree with you.
I think i will start with an off-the-plan-mid-200k 3 bdr 20 kms radius of Melbourne. I figured given the rippling effect emanating from the city outward those areas are bound to grow in few years. Then not long after I ll spend more time searching growth area in regional Victoria or maybe if possible even interstate. Something low 100k neutrally geared to enrich portfolio.

These are good advices and stop me from being tempted by these $105k 1 bedroom CBD apartment rented for $250pw.
which in a not long future will easily cause trouble
thanks again
andy

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September 13, 2007 - 7:47 am

Well I can assure you V8ghia it has not been easy. I have worked hard hours 3-4 different jobs at the time.
Lower end of the market is a good idea putting a big deposit. however it depends what is your perception of lower end in Melbourne, giving the fact that I would like to do just like Mark buy free standing properties and in Melbourne there is nothing below $200K semi-decent. Otherwise I will need to go to the country but as first time investor I am not that sure about that specific market. Also how come many people advice against buying units or in general strata title like apartments. I figured that if they were a good investment I could buy 5 or 6 of them. Some of them especially in Melbourne CBD or neutrally geared or even offer positive cashflow. I am sure they have a bunch of reasons not to buy them I 'd love if they could share them with me. My ultimate goal is to create a monthly income based on rentals (as many people i can imagine) a little bit Kiosaky style.
Ciao

[madeinitalyMember@madeinitalyJoin Date: 2007Post Count: 47]

September 12, 2007 - 3:36 am

Thanks L.A.
Thats what i am talking about!
I need something like that, however all the comments and advices are highly appreciated.
Cheers again
Andy

[madeinitalyMember@madeinitalyJoin Date: 2007Post Count: 47]

September 11, 2007 - 12:40 pm

Thanks for adding your comments, i really appreciate that.
– Okkamooie the answers for you:

When it comes to be handy im not a very handy person although i give anything a go, for example to my ex father in law house i installed 12sq m of raw parquetry, then sanded and polished it. I can do with a bit of painting, replace gutters…nothing major though.

About my own property i am not sure as I am happy to rent as long as i can establish my IP. In other words investing comes first, at the cost of renting a unit for years on end.

The third question is probaby my weakness. I can negotiate a deal no problem but when it comes to assessing a piece of land, a building, a development and all the legalities, contracts etc… I am at a loss and worst thing I trust NOBODY! This is probably why
a) I haven't bought a property yet 
b) I joined this site to communicate with passionate and genuine people like you and exchange support and wisdom.
Hope this provides you with a clearer picture.

Lalibella
I am sure that NG works for many and probably is my ignorance about this whole thing that makes me seeing NG as a Negative thing (pardon my pun). But you are right it is definitely limited by your income. As far as marital status im single and about my age i am still relatively young (30yo) although when i read in IP magazines that there are people as young as 23 with already 15 properties in their portfolio my heart drops into my socks. Im not familiar with 1515 tax variation. I am also aware I should have clearer goal and also like you did, create a business plan. DON"T KNOW WHERE TO START. Probably being clear about what you want to buy (as you mentioned only free standing properties) helps!

Thanks for your comments though.

Of one thing I am sure I am sick of chickening out whilst the market goes up and others get rich!

[madeinitalyMember@madeinitalyJoin Date: 2007Post Count: 47]

September 11, 2007 - 8:47 am

Come on guys, I am counting (sort of ) on you for some wise advice!

[madeinitalyMember@madeinitalyJoin Date: 2007Post Count: 47]

September 11, 2007 - 8:35 am

I just got 442, bugger! I thought it would be more
Andy

[madeinitalyMember@madeinitalyJoin Date: 2007Post Count: 47]

September 11, 2007 - 6:17 am

Thanks for your replies guys.
Happybronski, I heard about Defence housing and I am sure it is a good investment given the security involved with it however the houses are excellent quality but cashflow negative and there is a limited amount of flexibility with it. In saying that I'll keep looking into it more in depth.
Which group do you suggest Pendo?
Thanks again and keep bringing up new suggestions.
Andy