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  • Profile photo of PenguinJrPenguinJr
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    April 14, 2004 - 2:18 pm

    HHhmmMmMm.. so.. help me out here…

    Queensland would be a much better place to look for positive cash flow IP yes?

    and whats that about land tax? letting fee?

    Thanx, i’m still a newbie.

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    Profile photo of PenguinJrPenguinJr
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    March 7, 2004 - 8:32 am

    Hi guys,
    What’s needed to qualify for a lodoc anyway?

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    Profile photo of PenguinJrPenguinJr
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    March 3, 2004 - 1:04 pm

    Hmm..

    Hey Derek, do you mind explaining wat ‘savvy’ is? and the concept of line of credit?

    Thanx in advance =)

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    Profile photo of PenguinJrPenguinJr
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    February 28, 2004 - 5:01 am

    guys? girls? According to http://www.reiv.com.au/information/pg_info_calc.html
    QLD pays more stamp duty than NSW, is this true?

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    Profile photo of PenguinJrPenguinJr
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    February 26, 2004 - 8:29 am

    Oh nice, where did u get that review from?

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    February 26, 2004 - 8:25 am

    btw according to the calculator that georgisj gave, QLD pays more stamp duty than NSW?!

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    Profile photo of PenguinJrPenguinJr
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    February 26, 2004 - 8:23 am

    Hm.. thanx guys.

    I’m looking for an investment property in QLD for B&H and maybe wraps.

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    Profile photo of PenguinJrPenguinJr
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    February 24, 2004 - 2:38 pm

    …..

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    Profile photo of PenguinJrPenguinJr
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    February 23, 2004 - 10:49 am

    To qualify for loans such as the ‘loDoc’ or ‘noDoc’, do they only need the average income and a substantial amount of deposit?

    They dont need things such as proof of bill payments and stuff?

    Sorry if I sound ignorant, i’m still learning.

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    Profile photo of PenguinJrPenguinJr
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    February 23, 2004 - 10:45 am

    hm… yea.. I’m well aware of those…

    Its just that I just started on my self-employment… and I know that its gonna take time for the lenders to approve me. Even then, I still wanna learn as much as possible whilst gathering up the cash and building up some good income statement to convince the lenders.

    This is one of the many resources that I’m trying to build/gather. =).

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    February 23, 2004 - 10:34 am

    Hm.. all in all I basically understood what everyone was saying, and that there is this convention of charging rents on a monthly basis.

    I also understand the importance of analysing the clauses carefully…

    but I’m not too sure if I understand the following:

    Originally posted by elves:

    1 year, with option to resign at 3+3, so first year if ok then resing at 3 year intervals, you got the foot in the door.

    Are you assuming that I’m the renter? I was* thinking of purchasing a commercial property in which the vendor wants to lease it back on a 3×3 deal.

    *Not anymore since the vendor has gone broke and the property is in a foreclosure now and is identified as a ‘high risk’ by the R/E agents.

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    Profile photo of PenguinJrPenguinJr
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    February 22, 2004 - 6:24 am

    So we should only have a banker/mortgage broker?
    Whereas we can have a different conveyancer, solicitor, etc according to the locations?

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    February 22, 2004 - 6:20 am

    the difference in a year.

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    February 21, 2004 - 5:41 pm

    Hmm.. interesting..

    and part of the reason why I asked whether it matters if its paid monthly or weekly is… if you get paid monthly… you only get y x 12 = 12y. if you get paid weekly.. you get y/4 x 52 = 13y. A month worth of lease difference.

    Anywayz… I’ll do more research on this. thanx peeps.

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    February 21, 2004 - 5:29 pm

    Thanx guys,

    Thats what I thought too… damn mortgage choice… >.<

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    February 21, 2004 - 2:03 am

    oww.. i get it… Thanx peeps =).

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    February 21, 2004 - 2:02 am

    Hm.. good point guys =).
    win/win situation huh ^^, thanx.

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    February 20, 2004 - 4:22 pm

    Hm… I understand tender and stuff..

    but for the deposit bond… is it like a … um… “promise” in a way? but it needs an approval first right?

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    February 20, 2004 - 2:12 pm

    Wow.. very detailed information guys =)..

    I understood everything except ‘trust’… What is a trust?

    And btw, if you’re pre-approved already, why do you need those current pay slips and stuff? And the thing with me is that I’m mostly self-employed. Hmm..

    But thanx for the insight, i’ll be sure to save all those information. [^]

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    February 20, 2004 - 1:57 pm

    I know that no-one has said it… I was just making a conclusion from all that and ponder if I understood cap rate properly or not.

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