Hi InvestInIt,

Welcome to the forum.

Good to hear you would “…like to hear some independant comments, endorsements or otherwise on wrapping in Australia.”

That is, I believe, what this forum is all about!
So go ahead and feast upon the topics covered and comments made, in the many posts already on this site! I’m sure you will find plenty of posts that satisfy your appetite to further your knowledge of Wrapping…
And if you want more information try any number of the many good links on Sooshie’s post “Useful Links”.
(Thanks Sooshie and everyone who has contributed to this post, it is very … what can I say….Useful! [] )

Cheers for now,
Michael Long…

P.s Rick Otton no C…(but i’m sure you know that!.

P.s for Tim:
I haven’t forgotten about Tassie meetings, just been busy. Maybe we can look at starting them in the new year?!

“”Every day, in every way, I’m getting better and better.” – Emile Coue

Hi Kita,
And welcome to the forum… i’m sure you’ll find it brimming with useful topics!!!

I too am new to wraps, however my educational journey is well under way, having studied Steves wrap secrets revealed(highly recommended) and spending many hours sourcing info from all over the place!!

So i’ll have a crack at answering your question!!(bearing in mind, all that ANY of us can offer is our own OPINION, and remember that an opinion is merely one of a thousand ways of thinking about any given subject!)

That said, i believe that the deposit is generally collected and held as a part of the year one cash on cash return, so as you can use it in financing your next deal.
If you find it easy to save huge amounts of money in short periods of time, or you use other investment strategies to raise “quick cash” then there are certainly advantages to paying down your loan against the property.
So i guess the nearest to true answer to your question is, that you have to assess which pathway leads you to your goals, with consideration given to how you are positioned today!
Hope this has been of some use to you…

Kind Regards

Michael…

“A failure is a person who has blundered but is not capable of cashing in on the experience.”
-Elbert Hubbard

Perhaps, instead of being directed to the terms of use after every logon, members could tick a checkbox stating that they agree to the terms for the duration of their membership so as to avoid having to go through the process everytime?!

…love the glossary concept too… does anyone know of any already in existance???

Kind Regards,
Michael Long. [8D]

Hi John
I know of a couple of for sale by owner sites, however if you use one of the popular search engines such as google.com or altavista.com.au you will surely find a number more!
Here are a couple that i know of:

http://www.owner.com.au
http://www.privatesaleco.com.au
http://www.australiarealty.com.au

Hope these site are of some assistance to you!!!
Kind Regards,
Michael…

Hi Josh,
Its great to read of another young like minded “soon to be” Tassie based investor. I realise that this reply may be a little late to assist you in your decision on this property, however i have not long ago made a similar purchase, so here is my feedback.
1stly i’d like to say that i agree with Tom’s reply wholeheartedly. There is NO real factoring for capital gains in Hobart suburbs – as yet!!. Yes you are right in your appreciation of the current market trend however there are many factors that suggest that this will not be sustainable in the long term. With the bulk of 1st home owners having purchased properties, and the rising interest rates i would imagine it wont be long until we see a rapid halt to the over inflated capital growth. You will eventually see some capital growth (maybe in say 40-50yrs) however we need to look at cashflow options if we are to invest in our home state!! This brings me to the exercise of reviewing the figures on your particular deal in question.
You seem to have done your due diligence however looking at the figures you have provided may i be as bold as to say that you are ommitting some BIG factors in determining the cashflow of your property as Tom pointed out. With these factors worked in to your analysis ( $500 for maint., $160 insurance & an ultra conservative $100 body corp.) your wkly cashflow is already down to $14.61/wk or $760pa. Now that said you are STILL in the black assuming no more is required for any amount allocated for any expense. Therefore as long as you are investing for cashflow and the obvious equity build then my personal belief would be that the figures stack up so go for it… ah but one last thing to consider 8 mins can take you a long way in Tas so remember the golden rule of location. some of the areas 8 mins out of Hobart are going to land you in high maintenance and repairs territory, and if this is the case then you are going to blow your figures right out the window and land yourself in negative gearing territory… brrrr who wants to go there!!!
So in short your figures look ok to me but always consider ALL aspects of your deal, and remember, this is just my opinion and should be treated as such!! Good luck with your investing… feel free to drop me an email sometime [email protected]
I’m also young in the world of investing(25) and love to chat with like minded people!!! For your interest i have purchased two units at Midway pt and am now looking to start my wrap portfolio. wait till you have tennants and you will have EXTRA motivation for wrappin’ to the max!!!
kind regards
Michael Long