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Viewing 11 posts - 1 through 11 (of 11 total)
  • Profile photo of morgstarmorgstar
    Participant
    @morgstar
    Join Date: 2010
    Post Count: 15
    February 21, 2012 - 11:21 am

    Hi Richard

    If you get a chance please check out the below link in regards to costs.
    https://www.esuperfund.com.au/property/LoanAnalysis.aspx 

    I have put the location in St George's location finder they do say they offer home loans for super funds in the Orange area with the only exception that the max load amount needs to be under 500K. I will try and find out more info about the deposit but from everything i have seen it should be 20%.

    Thanks
    Morgan

    Profile photo of morgstarmorgstar
    Participant
    @morgstar
    Join Date: 2010
    Post Count: 15
    February 21, 2012 - 9:49 am

    Hi All

    $6000 includes stamp duty, bank legals, loan setup fee and setup of custodian trust. only fee not included is conveyancer fees.

    Min loan amount is 100K and deposit is 20%

    I have crunched all numbers involved and i can see i have a short fall of around $80.00 per week but there is room for improvement eg reno to the bathroom and kitchen.

    Funny thing is if i did buy this IP with my own money (not super money) my short fall would be only $20.00 per week and would turn into cash flow positive within 12 – 18 months.

    Thanks for your input.

    Regards
    Morgan

    Profile photo of morgstarmorgstar
    Participant
    @morgstar
    Join Date: 2010
    Post Count: 15
    February 20, 2012 - 10:23 am

    Hi Terry

    Super Fund is already setup.

    Corporate trustee structure has been used so only 20% is required not 30% as per Individual trustees.

    Closing costs around around $6000 inc stamp duty, bank legals, loan setup fee and setup of custodian trust. only fee not included is conveyancer fees.

    Thanks

    Profile photo of morgstarmorgstar
    Participant
    @morgstar
    Join Date: 2010
    Post Count: 15
    December 18, 2011 - 10:32 am

    Hey, if you don't mind me asking what did you pay for the kitchen?

    Profile photo of morgstarmorgstar
    Participant
    @morgstar
    Join Date: 2010
    Post Count: 15
    June 4, 2011 - 11:15 pm

    Hi Stringer

    I am starting to do my research on Orange for a IP property, how have you come to say that part of town is bad as that was my guess because of all the cheap property there, have you been on the ground?

    Thanks

    Profile photo of morgstarmorgstar
    Participant
    @morgstar
    Join Date: 2010
    Post Count: 15
    April 22, 2011 - 10:41 am

    I have been told you can have the income from the rent put into your personal bank account even if the house is held in a LLC, is this correct?

    Profile photo of morgstarmorgstar
    Participant
    @morgstar
    Join Date: 2010
    Post Count: 15
    April 15, 2011 - 12:41 pm

    Hi Rick

    Where did you buy if you don't mind me asking?

    Profile photo of morgstarmorgstar
    Participant
    @morgstar
    Join Date: 2010
    Post Count: 15
    January 7, 2011 - 5:08 am

    Hi

    I am looking at buying in Phoenix, Kansas City or Orlando but i wanted to buy something around $25000, i am just a bit worried if i buy at the lower end of the market i will never recoup my money in 5 to 10 years in regards to the sale.


     

    Profile photo of morgstarmorgstar
    Participant
    @morgstar
    Join Date: 2010
    Post Count: 15
    January 7, 2011 - 1:46 am

    Hi Nopz

    Where did you buy and what did you buy?

    Thanks
    Morgan

    Profile photo of morgstarmorgstar
    Participant
    @morgstar
    Join Date: 2010
    Post Count: 15
    January 5, 2011 - 8:29 pm

    Hi

    so once it produces the figures what is the next step, does it lodge the return with the fed and state? or do you need to do that yourself.

    Thanks for your help.

    Thanks
    Morgan

    Profile photo of morgstarmorgstar
    Participant
    @morgstar
    Join Date: 2010
    Post Count: 15
    December 19, 2010 - 6:27 am

    Hi does anyone know where i can find more info about these tours on the ground in the USA?

    Thanks
    Morgan

Viewing 11 posts - 1 through 11 (of 11 total)