Forum Replies Created
Thanks guys for the replies ,seems like we have made agood choice according to you all.just hope there is still some growth in the market to gain some equity fairly quickly although i doubt it,time will tell. regards mandy[sleepyanim](time for bed)
Well I for one think it extremely unfair that agents offer all their best deals to their loyal clients. how on earth are people just starting out in investing ever to get a break when agents are saving all their best props for their loyals?seems to me its just easier money for the agent, less hassle and everyones happy!(not)and so the cycle continues, the rich get richer and the gap between them and us trying to make a go of it gets wider.[thumbsdownanim
Hi veronica
for info on buying in caravan pks go to pge 7 of help needed I posted my experience concerning purchasing in one there hope this helps.
mandy[rolleyesanim]BARRY our dear grey cat.
Hi frankic
try BMT & ASSC
quantity surveyors
1300728726
they will do a depreciation schedule on everything for you at a fee of approx $660.
possibly consider furnishing the prop to really gain some depreciation, but as far as I know you can depreciate any improvements on the property as well as your usual fittings ie: curtains,carpet etc.hope this helps,regards mandy.I agree with you guys about knowitall (I wonder who gave him the name,he,s got such a chip on his shoulders it was probably himself)
surely moderators can read the useless trash he puts on here and delete it so he is not wasting genuine PI peoples time.Knowitall I have only 3 words to say to you [red]GET A LIFE.
Hi maria 9011
we purchased our 1st and only IP so far, in another state sight unseen. We actually put in an offer without seeing any photos of the property.It is probably considered quite risky by some people but I actually did my due diligence on the prop before making the offer as to how old the building was,was it in a good part of town,what was the rental income etc.
We of course have had all the inspections done to it before we settled and they have come back fine.
We are satisfied as to how all the figures have worked out and think it was the right choice for us.Some people just dont have the time or money to physicaly visit every possible IP,so if you just make sure you do all your research and the figures come back good then I say go for it. good luck
mandy[exhappy]could someone please let me know how much the tickets are.
thanks mandy
Thanks steve for the reply and I will heed your advice. Can I just ask you one other thing? I agree that you hit the glass ceiling when it comes to purchasing thru debt but would it be wise to go into partnership with afriend to buy a property that needs minimal renovation do it up together and then flip it for some quick cash, if we can get it for the right price?
and as so far as our investment prop goes we had in mind that we were just so wrapt to find something that was +CF that we were happy but we are also hoping that will gain in CG a little bit quicker with what is happening within the industry at the moment there, I suppose only time will tell.
thanks steve your advice is invaluable or is it valuable, anyhoo I mean it in the nicest possible way.
warm regards mandy[biggrin]
Hi steve,
I must say I am pretty excited to receive a reply from you,and apreciate your few words of encouragement. I feel my passion is so strong in becoming a success I know I will do it and having you as my mentor has been great.I have just about finished your latest book and if that is not an incentive for any doubting thomas to have ago then Idont know what is. Steve can you just answer me this how does one get to purchase many properties in one year? do they have to sell their homes to put forward large deposits to be able to purchase several? We have used most of the equity in our home to purchase our IP and we have no cash funds other than a 20k line of credit which my huband doesnt want to touch in cash we need it for the IP, is that the right way of thinking? I would love to get another IP asap but do you think it would be too highly leveraged?
IN reply to your question about our IP it isnt off the plan and I will take your advice and shop around for a better management rate. yes it is +CF through deprieciation but I think it will have slow CG so im wondering if that is going to hamper our progress to acquiring more props sooner. sorry ive been a bit long winded but I dont know how often I will get the opportunity to communicate with you so I thought Id give it a real go.
thanks for being agreat inspiration,kindest regards mandy.[thumbsupanim]
Hi landt64 and yack,
thanks for the reply.
I do think Ill be able to get this rent when the lease is up as it is in a mining town with great demand.regards mandy [happy3]
Hi beno
This is my very first reply/post so I hope I can help with your question. I looked at investing in a caravan park at a transportable which yes it did have +CF and the site fee was $100 pw which covered everything rates included. this can be wonderful passive income although you have to take into consideration that a bank will not lend on a transportable because there is no title. so you would have to fully fund it yourself or take out apersonal loan which of course will attract a higher int. rate,also you could not use the equity in the transportable to give you the precious leverage for future investments I hope I have all my facts right but that is what I have learned thru my experience with the prospect of investing in transportables.I must admit I was a bit sus on them when I found them and they were CF+ I thought this is too easy obviously its not too hard finding CF+ yeah right any way now ya know there,s a good reason why.
best of luck with your investing .
mandy[hair2]
