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  • Profile photo of mattstamattsta
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    @mattsta
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    April 22, 2012 - 11:22 pm

    yeah leave it to your PM – you don't need to waste your time and energy on this

    Profile photo of mattstamattsta
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    @mattsta
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    April 22, 2012 - 11:18 pm

    what about villas and townhouses? are strata or body corp fees needed to be paid for them too?

    Profile photo of mattstamattsta
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    April 22, 2012 - 11:17 pm

    sorry for my ignorance – but what's an IO + offset setup?

    i think I understand the IO part, but not so much about the offest part…

    Profile photo of mattstamattsta
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    April 22, 2012 - 11:15 pm

    which broker did you end up going with? if you don't mind me asking? what about the fees?

    Profile photo of mattstamattsta
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    April 22, 2012 - 11:10 pm
    Phil44 wrote:
    mattsta wrote:
    hey all – just to get back on the topic of using VF to buy an investment property…

    So, what if I find sellers (not vendor financiers/VF businesses) and I calculate that I my instalment contract payments are LESS or EQUAL TO the potential rental income that I could accumulate by renting out the property to someone else. As a purchaser, could I offer an instalment contract to a seller, and then rent out the place to someone else (and then make a profit on the difference)?

    Would I need a special clause in the instalment contract which stipulated that I am allowed to rent out the place to tenant? Or is it implied that I can do this since I will have possessionary/equitable title?

    Hi Mattsta,

    Typically your vendor finance contract will let you rent it out with consent from the vendor, but your insurance company probably won't let you.

    Even the Alliance wrap specific policies do not cover the vendor terms buyer being a landlord and last time I asked they wanted the vendor to be the only landlord and to use a regular landlord policy. A second insurer (a couple of years ago) also insisted that the landlord tenant relationship only exist between the vendor and the purchaser's tenant, which in either case would probably mean a contract rewrite.

    That insurer would also only do it on a case by case basis so potentially an expensive new contract might be only good for one deal.

    A more practical solution might be a joint venture or assumptive joint venture where you control the property rather than buy it on an instalment contract, then rent it out yourself.  I haven't explored the insurance implications of this, so in my answer is a question to one of the joint venture guys here – Who is the landlord under an AJV and has anyone had a successful claim?

    Cheers,

    Phil

    hmmm i didn't consider these potential insurance issues. perhaps i should stick to more conventional financing…

    sounds risky without having insurance..
    and i wonder if vendors would seriously consider installment payments for themselves via a JV contract?

    Profile photo of mattstamattsta
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    April 22, 2012 - 11:05 pm
    fatman wrote:
    I agree with Dazzling, in regards to what Francis has said. Does not sound real sensible at all, a bit out of touch perhaps?? I have always used a solicitor, BUT a solicitor that SPECIALISES in conveyancing and one who actually INVESTS as well. Same as for an accountant, only use one that actually invests in property and has experience in property investing to ensure maximum benefits for yourself. BUT I would use a conveyancer over a solicitor without the neccessary property experience, both investing themselves and also with the legalities of everything. Thats just me though, each to their own. Thats why the forum is great, everyone can have their own say!![chill] FATMAN :-)

    I agree wit hyou here. Having the help of a conveyancer/solicitor are just one of the costs we need to consider as an investor.
    I prefer to use a solicitor, just in case there are any issues, and like you, i would rather go for ones that invest themselves and specialise in conveyancing

    Profile photo of mattstamattsta
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    April 22, 2012 - 10:58 pm

    same with me – i've been looking outside of sydney as prices are just ridiculous around here

    Profile photo of mattstamattsta
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    April 16, 2012 - 3:34 am

    i think the nsw govt is trying to get more jobs and decentralsation to the coast and other geional nsw areas but i think they need to do more

    Profile photo of mattstamattsta
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    April 16, 2012 - 3:27 am

    gettign interest from a savings account could be a worthwhile place to put your money. i've got mine at ubank

    Profile photo of mattstamattsta
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    April 16, 2012 - 3:24 am

    The OTEN/TAFE one is quite good, and you can learn while at home and even though you have a job already

    Profile photo of mattstamattsta
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    April 16, 2012 - 3:21 am

    what kind of finance issues would there be for building a home from scratch?

    Profile photo of mattstamattsta
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    April 16, 2012 - 3:19 am

    I think sydneydru got confused about point 4.
    I think you meant that you can borrow against equity for the second. This is ok

    BUT you can't borrow equity for a second IP if it's within a self-managed super fund.

    Is this what you meant Terry?

    Profile photo of mattstamattsta
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    April 16, 2012 - 3:10 am

    no car yet as im not financially wealthy (for now)…
    putting money into buying IPs instead

    Profile photo of mattstamattsta
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    April 16, 2012 - 2:43 am

    bossley park, nsw

    but thinking of moving to port macquarie or central coast nsw

    Profile photo of mattstamattsta
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    April 16, 2012 - 2:41 am

    Anyone know of any fixed rate loans for 15 years or more? so far, i could only find the COmmonwealth Bank with them

    Profile photo of mattstamattsta
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    April 16, 2012 - 2:35 am

    very unique strategy cintaku. could work for you, but from where i am right now, i don't think i could do it for now

    Profile photo of mattstamattsta
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    April 16, 2012 - 2:26 am

    i think one way to figure out the vacanacy rate for a holiday home is to call up local property managers and ask them their thoughts

    Profile photo of mattstamattsta
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    April 11, 2012 - 5:50 pm

     agree with solomon.

    It is an itneresting idea. Although, I think you get more leverage by getting a loan yourself, and keeping majority of the cashflow for yourself without having to split it with other investors

    Profile photo of mattstamattsta
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    April 11, 2012 - 5:47 pm

    what kind of cash flow do you get from your current IPs? you didn't mention that…

    Profile photo of mattstamattsta
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    April 11, 2012 - 5:44 pm

    i'm trying out 2 new creative investment ideas this year
    1) websites that generate money
    2) vendor finance investment properties

    good luck!

Viewing 20 posts - 361 through 380 (of 590 total)
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