Forum Replies Created
Mortein?
Perhaps followed with a surface spray for lingering effect?
be careful tho that you don’t just make them mad. Is there a swimming pool you can jump into for escape like on the cartoons?
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Originally posted by Nat R:Whatever…all I know is that Derivex was a joke (an unfunny one at that) and way way too many people on here who claim they know what they are talking about took it hook line and sinker.
C’mon Nat – you can do better than that.
You are just going on the offensive when someone puts you in the hot seat!
We both know ASIC had little to do with Derivex stopping business regardless of what Derivex suggested.
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Rob,
That isn’t an easy question with an easy answer.
You really need to sit down with a development financier and go through a lot of questions too and fro to determine your borrowing ability.
Will depend on the project as much as anything.
But with that money saved you will find you can borrow a substantial amount. But don’t forget you need to service the debt in the meantime.
Cheers,
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Highest leverage is to use it as a 5% deposit on residential property.
Comercial will be a 30% deposit
Shares will be a 100% – 30% depending on the quality of the share or MF.
As far as best use for cash flow goes that al ldepends upon yield. A high yielding residential property will give the most bang for buck in general.
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I have never been involved with the Investors Club. However an investor I respect a lot is.
I reckon it is probably not the 100% solution when growing a portfolio. But it is a solid system that has a lot of support built in. When we are starting out the most important thing is to get started and a 90% solution is better than doing nothing. We all know those people who suffer greatly from analysis paralysis and always seem to be researching but never doing anything.
If it comes to a choice of using TIC or doing nothing then I think the choice is easy.
I would also support any of my inexperienced clients who told me they were thinking of using them.
Perhaps one idea is to go to their meetings and get involved. Use them to start your portfolio off and then be in a position to judge whether they add value or not and whether to remain in their system or go it alone.
All the best and keep us posted.
Cheers
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Very hard to say whether you are overextended.
Know nothing of your plans or goals let alone what you make each week.
I think the real issue is can you afford to keep this going as is?
If yes then I think you sound like you are doing well. You are buying properties that rent well and go up in value. Keep doing that and some day you will wake up and find you are rich!
Cheers,
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Sage advice from Derek.
I think most couples start with one meber who was gung ho and one who was not so informed and enthusiastic.
I am not surprised that announcing the use of all your equity has her rattled! Would rattle me too.
As Derek suggested why not go and buy an IP.
When the dust settles buy another.
It will all come together.
Remember if you push her she will push back. Take is slowly and respect her feelings and beliefs.
Cheers,
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
For me personally, I have accepted that no one is going to hand me a cash +ve deal on a plate, especially in my choosen areas, and have accepted that in my current situation I don’t have a lot of time to go hunting, so have diverted my available time and energy into other investment options.
regards,
Paul
yes they will. Buyers Agents will hand you a deal for a fee. Just like most investments!
Cheers,
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
yep
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Almost Jaffa,
If you buy land for $100K you pay SD on that amount.
If you then build 10 units you get them at cost price.
Land plus units = a property worth $2M but you only paid SD on the initial $100K.
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I think you should buy whatever is typical for your area that you are investing in.
I personally would only consider 1 bedroom apartments in inner Sydney.
As far as being easier to rent – I doubt it. They will only appeal to single people and perhaps the odd young couple.
As far as houses go I would stick to 3 – 4 bedrooms in middle class suburbs.
Just my opinion and plenty of people do well pursuing other strategies.
Cheers,
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Is it correct that any deposit I pay to the vendor will be assumed as savings $$$ by the bank?
yes – as long as you show the paper trail. ie money saved in your account then transferred with a deposit receipt from the solicitors trust fund.
The remaining 10% is adjusted at settlement. You just draw a bank cheque and pass it to your solicitor. He will instruct you accordingly.
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Originally posted by Pro-Active:Originally posted by Mortgage Hunter:However there is no reason why you cannot ask them to leave, offer to pay their costs to move or any other avenue which gives them some choice and incentive in the matter.
I suspect the PM doesn’t wish to lose the rental. Each rental property is worth $thousands$ when calculating the value of the rent roll and is often the true “wealth value” of a real estate agency.
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Simon is right here, in that rental rolls are the cashflow to many a real estate agency, especially in lean times. Just to give you an approximation, the average property is “worth” the equivalent to four week’s rent when onselling rolls to other agents.
Cheers,
Jacque
http://www.housesearchaustralia.com.au
Totally Independent Buyers Agents- Sydneyhttp://www.invested.com.au Australia’s premier Investor Education site
I heard it was even significantly higher than that – something like $5000 for an average Sydney property?
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Perhaps you can write to the owner care of the address – the mail might be redirected.
Get an agent to look it up on RPDATA is an idea but any agent worth his salt will call first and convince the owner to let him sell rather than to you. So be careful getting an agent involved.
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
“be ye angels?”,
“nay we are but MEN!”
Tenacious D?
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Anything is possible.
Would need to get a little more background from the lady before making any suggestions as to likelihood or amount available.
Suggest she speak to a decent broker and start looking for property at the cheaper end of town.
Cheers,
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Originally posted by iamsooty:Thanks Derek: The website is : http://www.premiumfinance.com.au they have been operating 18 months. GUESS WHAT! Steve sent out the Virtual Kick Start Resource, so I have started that tonight … We are on a little journey of discovery. We know that we are infants here – we have just two (2) houses – NO, there is not a Zero missing at the end of that 2 … they are doing very well – one has doubled in value in 8 years and an agent has just recommended that the other one would go on the market for 70k more than purchase price 18months ago. So Steve’s course will help us know what direction we take. That’s it from this little chatterbox!
You are no baby investor! You have two IP’s more than most folks and should be giving us advice!
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Originally posted by Dazzling:giving me a 7% net return, so when borrowing at say 6.6%, it is positively cash flowed from the start.Only just…. surely rates and insurance eats into that profit? Have you factored in a repair budget as well?
I use the term “nett” to mean everything has been paid for except the mortgage. Maybe my definition is different to others.
If a prop is doing 8% nett, and the mortgage is 7%, it is making money for you.
The 8% nett might be say 11% gross minus all of the costs (rates / water rates / land tax / insurances / repairs etc etc etc).
What do others understand of the term “nett” ??
Righto my mistake – read gross when he said nett.
But stillsailing close to the wind – an unexpected repair or vacancy will quickly turn it negative…
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Originally posted by adambc:Simon,
Could you possibly elaborate on how to access these MP3 audio books please? This sounds great!
Thanks,
Adam
Oasis Finance
for your Vendor Finance solutions
Achieve the Dream!
[email protected]mmm I buy them…
Check your local library for CD’s too.
There are also the odd free download on the internet if you look hard enough.
Some people download them from file sharing sites but I am sure this is illegal and I wouldn’t condone anyone do that.
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Originally posted by WindDrifter:Thank You one and all! [thumbsupanim]
I have never been a strong reader so I guess this will be a massive self improvement! i am taking 3 months off my part-time degree so at least I know what to fill the time with now.
Thanks again for the warm welcome and I hope to learn a lot. Maybe one day I could even repay the favour in a couple years!! [biggrin]
Cheers,
WDSome of these books are available via MP3, I know RK has a lot of audio stuff on the market.
I “read” my books whilst walking the dog or driving the car and just finished a very interesting one on Warren Buffett.
Cheers,
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
