Forum Replies Created
- joeandchels wrote:Thanks for the reply Tony.
So in terms of mentorship for two years, is that on a full time basis only? Or is it possible to maintain your regular full time job and get the mentoring on a part time basis?
Does it mean I would require a mentor in person, or is correspondence also fine?
Thanks again
Joe
You can do it part time and doesn’t need to be face to face although that would be better. The internet has great tools for conferencing and webinar etc, you would need to get the experience and coaching and your mentor would provide you with a letter recommending you once you are ready to go out on your own as a fully fledged broker
The 99/1% is useful if one of you is the high income earner in regards to tax benefits, you need to consult with your accountant about that. If your husband has already applied for FHOG once then he will not be entitled to it a second time. Stamp duty (transfer duty) is payable on transfer of title.
You will need to be mentored for the first 2 years by another mortgage broker. Once you have 2 years industry experience you can go out on your own and get fully accredited. You will need Cert IV under your belt. For more info call the MFAA or FBAA. I’m not in a position to take on anyone right now in terms of a full time commitment but happy to give advise if you want to email or call me, perhaps one of the brokers on the forum can help you.
If you are unable to borrow money now due to servicing issues how will you repay mums loan? Is there any way you can increase your income to be able to service the extra loan?
From my experience dealing with property investors the feedback I get is Financial Planners generally seem focused mainly on super, shares and managed funds (correct me if I am wrong) and haven’t been renown for giving good advice on property. Maybe due to where you derive your income from I guess. In my opinion property is one of the best investment avenues available. I like the leveraging that borrowed money on property can give me if its all about a return on the size of an asset. .. (getting sidetracked here).. I would like to see more Financial Planners getting involved in property.
Hi Kelly welcome to the forum.
lucigoosey wrote:Hi TonyAppreciate the sensible response. Just wondering what does your company do? your website looks interesting
Thanks
Your question is interesting as I built my website to let people know what I do and I am wondering how it is not delivering this information. Any feedback would be helpful. I am a mortgage broker and buyers agent working mainly with property investors who are interested in building a portfolio.
Regarding builders in Gladstone its a small town and everyone knows everyone. Builders from out of town have come in and some are getting a very bad reputation for rough work. The reason you need to stick with Gladstone born and bred builders is because the only way they could have survived is to keep the quality of work up to scratch and it has been a very competitive environment. Happy to recommend good reliable local builders if need be.
Also most block sizes vary from 600m2 to 800m2, 700m2 is average for new estates in G.
Some of the coastal areas like Toolooa get coal dust blowing back from the stockpiles and long term residents there have serious lung related issues.. Toolooa is also a low socoio economic area and pretty rough. I would look more to areas like Kin Kora, Emmadale, New Auckland, Kirkwood. The Kin Kora shopping centre is a bit of a hub.. any of these areas are close to facilities. Gladstone is a small town and only takes minutes to get from one end to the other. Calliope is also ok 18 mins from Kin Kora and very popular for people who want to live away from the mainstream. I got your email and will send you the info pack.
My advise is to never do anything in regards to finance that you are uncomfortable with. If for whatever reason you don’t want to proceed you have every right to put the brakes on and take the time you want to explore all your options. A mortgage is a serious commitment and you don’t want to make hasty decisions. You are not fully committed to the loan until you sign the actual mortgage documents after the bank has issued formal approval.
How much are you paying for the property have you spend time to see what other similar properties are selling for? Happy to send you an investor info pack on Gladstone that will give you a wide view so you have the full picture. Feel free to shoot me an email and I will get back to you.
In a nutshell the export deal there is the largest in the history of Australia. Its one of Australia’s largest coal exporting ports, all the material from the entire Surat basin gets sent to Gladstone where it is exported. All the big players are investing there, British Gas, Santos, Rio Tinto etc, QLD government predicts that Gladstone region will increase by 76% over the next 10 years. The population is currently 50,000 with literally 1000s or people moving there in the near future i,e, Australia Pacific LNG project have 4000 workers on their way there, British Gas and Santos have around 7,000 workers arriving soon.
There is not enough available land and a very limited supply of housing and the demand is massive. If you do your research well you will get some good insight.
The property boom has just kicked in and as you know this will drive prices up quickly (it already is) if you want to take advantage of this market get in now.
I have done alot of research and spent quite a bit of time in Gladstone and have put together a full investor info pack from a wide range of sources. Happy to send it to you if you shoot me an email.
You might consider renting the property out first for a while so that its an income producing asset before you spend money on ‘repairs’. To the best of my knowledge it wont be much of a tax benefit to you prior to this. Check with your accountant.
Hi Nic you question is unusual, can you explain the reasoning behind your question?
Hi Trav I have a few different funding sources that might be able to help you, shoot me an email and I will get back to you.
Hi yes you can use paper tape and plaster the same as you would gyprock joins but if theres a gap you need to solid fill that first or you will get cracks in the join. Plaster is good for tight fit joins. Although you could try filling wider cracks with cornice cement first as that sets super hard then do the paper tape and plaster (GB 100) for setting the rest…. I have done heaps of these, just make sure theres full timber backing behind all the joins.
The theory of paying your home off in 5 years and building a portfolio is common throughout the property seminar community. In reality it would be a very small % of people (if any) who actually pull it off. The guts of the matter is how will you cope with debt i.e. the debt required to ‘further property invest’? Be wary of promises that sound too good to be true. I have no comment on the company you mentioned, but I know that as with all similar companies they are in it to make money and will do that via you buying properties through them. I hope you get some good feedback from other forum members.
Happy to send you Residex suburb report if you shoot me an email. I would buy in Kedron.
I have a NSW last quarterly property market update that shows sales statistics, if you shoot me an email I will forward you a copy.
Slow and steady wins the race, find deals that you can manage that are within your capacity and build up.. if you do your research you will find opportunities that can work for you. If you go to far to fast you may not have the foundation to support it and you end up tin trouble.
