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  • Profile photo of mcubedmcubed
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    September 12, 2008 - 12:15 am

    Thanks for your response Richard.Would you buy a business or stick with property?I would have the equity in my portfolio to fund this, What would u do? TaMel

    Profile photo of mcubedmcubed
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    February 13, 2007 - 3:27 am

    Thanks everyone for ur replies,

    So basically I could just let the rent that is coming in for my unit, just use that to pay off the unit and possibly a bit more?

    and save the rest of my wage for a deposit on something else?

    Yes, the next loan I get will be interest only as would cost me too much to change my already loan over to that.
    also next loan will be fixed :-( sure lost out this first time, oh well
    u learn , only young

    thanks again

    Profile photo of mcubedmcubed
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    February 13, 2007 - 2:43 am

    Hey Devo,
    I have a place in Brisbane and when I went to list it with an agent they told me that I wouldnt get much extra for having furniture in it, they also told me that I would get max $200 per week. I did my own advertising and am getting $260 per week with a few items of furniture in it. I got about 10 calls on the day as well from potential tenants, so boo hoo to the agent I say! :-) I didnt end up listing with them in the end. The lease on this place runs out in Aug and I will be putting the rent up to $300 as I know with the furniture in there I will get that. its a two bedder near train and shops, with views. I would def charge more cause u have furniture in there as there are lots of people that are looking for furnished places, ie young couples, corporates etc
    hope this helps
    Mel

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    February 11, 2007 - 1:51 pm

    Hi
    In terms of determining the rent for ur property dont let the agent tell u what to charge! I have a unit and it is in a great location in Bris, near train line etc and the agent told me that I wouldnt get anymore than $210 for the unit. I did my own advertising and I am getting $26 per week. The advertisement only cost me $30 to run for one saturday and I got 8 callls. I recommend to do ur own research into what is being charged in the area.
    Ps the rent that I am charging is above market value, but if the tenants were smart they would have looked around first [exhappy]Good luck! mcubed

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    February 11, 2007 - 1:48 pm

    Hi
    In terms of determining the rent for ur property dont let the agent tell u what to charge! I have a unit and it is in a great location in Bris, near train line etc and the agent told me that I wouldnt get anymore than $210 for the unit. I did my own advertising and I am getting $26 per week. The advertisement only cost me $30 to run for one saturday and I got 8 callls. I recommend to do ur own research into what is being charged in the area.
    Ps the rent that I am charging is above market value, but if the tenants were smart they would have looked around first [exhappy]Good luck! mcubed

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    July 11, 2006 - 4:54 am

    Hey Cata, i would be keen to come, I am northgate – let us know details :-)

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    July 11, 2006 - 4:51 am

    Thanks for your advice
    So I dont need to wait until I have ‘lots’ of equity in the property I curerently have?
    I mean, I didnt thnk that I would be able to go and borrow say $150K for land or something? how would u pay offf both on the same wage? i can start renting my place at the end of july – will aim to get about $250.
    where to from here?

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    January 9, 2006 - 12:43 am

    Morning Everyone,
    Thanks heaps for all ur thoughts, suggestions.

    I guess I was just mad keen to have it paid off in a small number of years, but if I put everything I have into the property + rent I will receive when someone goes in there. I will use the equity after about 5 years to buy something else.
    It is just funny when people say that put ‘extra’ repayments in there.
    I mean all I have is my wage so what do they mean by extra repayments? apart from getting money from shares, family, lotto (how lucky is that!) do they mean, after paying the minimum one week they may decided to live offf baked beans for a week and pay another couple of hundred? is this what they mean?
    as most people would be trying to big repayments all the time, except for maybe families.

    thoughts?

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    November 30, 2005 - 6:25 am

    Great! thanks for the responses
    appreciate that

    so it is definately not 3months that u can live in the property? it must be a minimum 6 months?

    also, when it comes time to get the grant,
    how did u go about getting it?
    does it come in the form of a chq? etc

    so basically, if the tenants have just moved in and they move in one year, technically if i move in on the day they move out does this still apply?
    ie can i still get the grant?

    thanks again

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    October 17, 2005 - 10:26 pm

    hEY CAZZ67

    I AM FROM MIDDLEMOUNT, ABOUT AN HOURS DRIVE FROM MORANBAH. I HAVE FAMILY THAT WORK IN THE MINES THERE AND THERE IS STILL ENOUGH COAL THERE FOR ANOTHER 30 YRS SO i WOULDNT BE SAYING THAT U HAVE MISSED THE BOAT.
    I AM NOT AN EXPERT ON GIVING ADVICE ABOUT PROPERTY, JUST LETTTING YOU WHAT I HAVE HEARD
    I WOULD SAY THAT IT WOULD BE A GOOD PLACE TO BUY AS THE MINERS GET PAID STACKS!! I KNOW A GUY WHO IS IN HIS 20’S WHO IS GETTING PAID OVER $100k

    CHEERS

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    April 15, 2005 - 4:35 am

    thanks for that guys

    my contract ends in June but word has it the job will be advertised between now and June.

    80% LVG (what does this mean?) leverge?

    i have been working full time since July 2003
    this is my second job

    savings have been consistant since then

    thoughts?

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    April 14, 2005 - 5:34 am

    hey Derek
    thanks for that,
    the thing is that i have seen this house before, it was for sale last year and it must have not got sold so that vendors did painted the whole house again, and put it back on the market, this is exactly what iam looking for .
    i am 22
    if i didnt get the job (minimual chance) there are always heaps of other jobs areound that are permanent
    thanks

    thoughts?

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    February 23, 2005 - 2:16 am

    woodsman!

    thanks for ur response
    please tell me more about share funds (overseas)

    and to everyone else thanks for ur input! really appreciat it :-)
    i just want to starting investing asap, but reliase i need to read more!
    possibly wait until the market settles down,
    but the longer i wait, i wont be able acheive my goal of having 1M worth of property by the time i am 30! and ideas to get there quicker! thanks again. i was thinking of getting some amp shares or westpac bank shares with 8 g’s??

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    February 22, 2005 - 6:42 am

    thanks so much for all ur responses!
    so looks like i need to read more, – boring! :-( i just want to get in there and start!
    anyone want to take me on board??

    basically i have 10 g’s, fulltime job and looking to create weatlh asap!

    thoughts>?

    Profile photo of mcubedmcubed
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    February 17, 2005 - 6:07 am

    thanks for ur response!

    well i am steering more toward property over shares, as i see shares to be a bit risky? thoughts?

    i have just noticed somethign in new farm, brisbane (near city) $120,000 studio, looks nice, 155 per week rented atm. thoughts? do i still get the gov grant for this if i bought a unit?

    as for personality, I am so keen to get ahead property wise! i have worked a bit in real estate (administration only) although just recently got licesne. agent paid for it. although not in the industry atm.
    dont mind a bit of hard work! to get somewhere.

    havent done much research.

    look forward to ur reponses

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    February 2, 2005 - 8:26 am

    kwilko,
    do i stil get the $7000 grant if i buy the house as an investment?
    or must i live it in?

    thanks

    ps if i do buy a house to live in how long do u have to live in it to avoid paying some sort of tax? thanks

    Profile photo of mcubedmcubed
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    January 17, 2005 - 11:59 pm

    Dear Kwilko,
    Thanks so much for ur advice! That was great to hear back so soon!
    Do you think I have enough deposit to start looking to buy a house? I am working full time for the QLD Govt. Iam on a contract but my job is going to go permanent next month.

    do u think it would be wise tolook at buying the property in bundaberg @ 147K despite having to pay stamp duty? or would it be better to look for something where i live? (brisbane)?

    if i buy a preloved home is the grant $7000, is it still any more if u buy a new home?

    I would look forward to hearing bak from you soon,
    thanks again, Mcubed

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