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  • Profile photo of NucopiaNucopia
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    Profile photo of NucopiaNucopia
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    were can i find a good  broker ?

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    Profile photo of NucopiaNucopia
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    thanks for all the good replies.
    Sorry I was not more specific with what I was doing
    The bathroom has  a new vanity and Mirrors, and I have  heaps of tiles that some one gave me… all are the same pattern/color so good for my purpose…I have  neighbor who is a plumber and  an another one  is an electrician.. They will do any of the pipe work  and rewiring for me..
    My $1,000 budget is for a bath tub( would love a spar/bath combo), Shower stall and some Lights… basically I need  a low cost  supplier  I can buy these things from..
    The  house is located  in Wellington NSW …. Dubbo is the nearest big Town…

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    Does any one know a place that has factory seconds or cheap bathroom fixtures and fittings showers baths etc web site would be great.
    thanks

    Profile photo of NucopiaNucopia
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    Ok sounds like a plan …Marsh ?
    who is that ? can you elaborate a little more please…

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     Hi guys thanks for taking the time to answer
    what I was after was one that would be affordable( cheap) and would have multiple benefits when I insure 6 properties with them.
    Im with cgu on 2 properties at the mo but they dont lower the premiums for multiple policies.
    thought some one might know of one that did,  give a discount ,rebate  on multiple policies or a cash back if you do not claim  on a policy… just looking for the best bang for my buck
    appreciate any help
    nucopia 

    Profile photo of NucopiaNucopia
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    Profile photo of NucopiaNucopia
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    Good work RVP and keep  dreaming learning and struggling to get to were you want to go. your on the right track already.
    my advice is to  look on this web site http://www.realestate.com.au (one of many out there)
    get a feel for the area that you feel comfortable with and get to know some of the agents in that area.
    make a plan and take it step by step
    first choose several area's you wish to investigate
    get to know the area and the agents that are in the area
    Talk to them, visit the area and look at all the properties advertised also look at places that are  closed up and not occupied ask  neighbors why they are vacant . I found a very nice home like this  that I picked up  very cheap because the elderly owner had no next of kin and a need to secure his long term stay in an aged care facility..another time I found a home that was not on the market but was in limbo because of a divorce, once  both parties realised they could get out of debt and stop fighting over the house in   court… and  by selling to me both would  walked away with some cash  before the bank  foreclosed and they lost every thing . They were happy to sell at 30% blow market. and not pay commission to an agent…
    RVP start here  http://www.realestate.com.au
     send emails and call and talk to the agents then go out and take a look around you may not find what your looking for right away,  but if you keep looking you will find bargains out there. its just learning to  recognising them when you see them…

    Profile photo of NucopiaNucopia
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    Remember that if you get unemployed, you still have to pay interest.
    hahahahaha
    I have not been employed for almost 10 years now and my property income has always surpassed the interest I pay. Its also left me with a nice level of accruing cash surplus. Funny rental increases are keeping pace with rate rises and demand for rental property is increasing all the time. Cashed up and ready to take advantage of the market mmmmmm make it on the up curve or the down it don’t matter With a loan to value ratio of less then 30 % and equity to borrow if and when I see the time is right and the opportunity arises.
    Im unemployed and loving it!

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    Psychiatrist
    why keep the tenant ?
    new PM and New Tenant !!! would have been the best outcome
    good to see things have improved for now
    good luck

    Profile photo of NucopiaNucopia
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    Nice one
    Now can you tell us the name of the clearance center PLEASE
    much appreciate it cheers

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    Shrimpo
    hold onto it  and look at the long term picture ,  what you are paying out of pocket could be considered as forced savings.
    by the time you finish your studies you will be on the fast track and be way ahead of your peers, Plus be  in a position with employment  to approach the bank to draw down equity for buying your second and possibly third I.P. in a very short time…
    Your investing time now in an education   and will reap the rewards for the hard work and sacrafice. Imagine how much you have achieved over the last 14 years ..
    same with  your property… invest some time now of which you have plenty of at 19 years of age and in a few short years you can gain a lot more then if you take a quick profit now .
    look at it this way you sell @ 200k  take out your 30k deposit leaves you 170 k then remove the selling costs  GST early repayment fee 's and repayment of  your mortgage   If you  think about it  clearly ,you will be left with a lot less then  50 K.

    Profile photo of NucopiaNucopia
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    It means you need to call the agent and get the price

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    Price on Application

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    Hi Elka
    Yes, I was also thinking to do this, pay 20% and borrow an IO loan for the balance and leave the money in the 2  offset account I have on my other loans.
    I have 4 IO loans  2 x 98K over  2 properties still have 40% equity left on both. both fixed for 3 years. 
                                    1 x  48K  still have 70% equity on this I.P  and its linked to an offset account.
    On my  PpoR I   have  a  127K  IO loan  with an  offset account and  the bank said I have used only 29% of the  equity from its value of 3 years ago… so I still have 71%  equity  left..
    Holding a bit over 80K  cash which I divide between the 2 offsets accounts  Loan repayments amount to about 2K per month with the offset accounts….  rental income is $2,440 per month  so I have about 400 monthly left over to save for Rates insurance and so on.
    I still have one I.P with out any mortgage over it and valued at about 125K…
    The Ip I'm looking at is only 70K with a tenant paying $135 weekly($540 Month)  I can borrow 50K @ 8.3% with repayments of $406 per month and I will  still have $130 left over per month( hopefully), after I pay the IO loan if I get it…. 
     I was thinking , I need to structure things a little better to take maximum advantage of my situation…. 
    I was also thinking to pay cash get the  title and use both titles to draw down 80% equity from  both titles for further property purchases ..still need to save deposit this way….
    I,m getting a good discount on this one for cash , but I can still organize a loan over it if needs be..
     ???
    nucopia

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    Thanks Maree
    I made an offer to  the agent and its been accepted conditional on building and pest inspections.
    Need to get these organized asap and find a good conveyance/Solicitor.
    looks like a busy week ahead

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    Hi djac
    Why not look for an I.P in Ararat Stawell or Hasham Victoria,for around 70<80,000 pay cash, find a P.M and start banking the weekly rental. Save the rental income and any saving from your job and you can use the I.P and your savings to finance your next purchase.
    Start small with what you have and grow over time…
    Good luck

    Profile photo of NucopiaNucopia
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     Thanks every one
     Really appreciate the comments, I'm not 100% sure what way I'm going to go with this,.
    I'll need to give it some more thought be fore deciding .  

     cheers
    nucopia 

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    Alotti

    You can find ip's now in N.S.W  under 100K and with  a return of 135<160 weekly . I know I just bought 2 in the last  6 months …
    growth may be a little lower  in those area's but still good for collateral with the bank later on.
    100k i.P even at 8%  per annum  growth   tied in with the positive income over the same time is way better then parking 100k in the bank at 8 % and paying tax on the capital gain..
    i.P's give better tax breaks as well … just find a good accountant with experience in property investing.

    I have my eye on a half dozen places at the moment and  all are  around or under 100K.  I got cash , so I just need to do my home work and decide if its a good time for me as well. 
    I really can't  say  this is a good time to go borrowing 300 or 400 k to get into an  i.p that may not  have the weekly returns to cover the monthly repayments with the bank
    So good hunting  and let us know how you go with it !
    nucopia

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