Forum Replies Created
Hey there AD,
Thanx for the info on discretionary trusts. Have they always been around? Was there any other differences that we should be aware off? i must check it out!!
Off the subject, have u had much experience in vendor financing (wrap) ventures? I am keen to learn!!
thank again
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Everyone wants to go to heaven but nobody wants to die!!Hey there,
Anyway u go u must comply with a plan! Have u sat down and established a plan yet, that includes goals/objectives in the short-term and the long-term? Investing is like a strategy. Its how to obtain/acheive your goals.
From there u can research and find suitable investing strategies that make your goals come true.
cheers
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Everyone wants to go heaven but nobody wants to dieHi Go girl,
I have one unit far from me ( hope to build on that though > houses) I have a real estate Agent manage it and do the periodical inspections required and I have had no problems to date. I feel that I don’t have any more or less problems with this property as opposed to the ones I have closer. I will be personally inspecting the city one for my first time in 2 years.
Can other tell me how often they inspect their investments.
Cheers IsagoldDear All
My understanding is that the valuation done by the valuers for the Bank Valuation is done specifically for the bank for loan purposes only. Any one correct me if I am wrong but it is a type of fire sale valuation.
The bank I deal with will tell me verbally the valuation they have put on the investment, but they never give me the valuation in writing. I later try and get the same valuers the bank has used to re value my investment after I have improved the building and re-present this back to the bank and then re mortgage the building on this new improved valuation, which then gives me the equity to buy another.
My bank requests that I pay the initial valuation fee upfront it is usually $250.
Cheers IsagoldBruce, as per your post ensuring that the bank give a copy, I have a question. My partner and I purchased our first just over a year ago now and have only recently been advised that the 2pager val’ that we got is not the complete one and we should persue the bank for a copy of the complete written val as we’re entitled to it and it’s a tool we can use down the track. I called our bank, and they were very vague about this. The response I recieved was that they would get back to us, I havent heard. Should I pursue this or is it a lost cause? If we are entitled to it why are they making it so hard to give us the entire report?
Gracie
I like this idea, my partner and I are very new to this game! We have bought one in the past year. I want to be more aggressively investing but need to have the opportunity to speak to those who are doing it. Forums are great but would love to meet people in preference as I feel there would be more results…pls keep me posted.thanks muchly have done some shopping around, but it’s always good to get a feel from those in the know[
]Hi Dan,
I am moving to Perth in the next few months and would be interested joining like minded people in talking about investment ideas. Also anyone living in perth can you give me an idea what 250k will buy me. Thanks tailsEmail is [email protected]
Both me and my girlfriend have been given the fhbg and we have both sold within the 12 months. I even have a friend who sold his premises to his girl friend where the both have received the grant. My interpretation of the grant is that you have to be seen to be living in the premises with in the first 12 months for how long it doesnt matter. Tails
“TOP TEN”
1. Warragul(including Drouin)
2. Shepparton
3. Traralgon
4. Lakes Entrance
5. Echuca
6. Healesville
7. Ballarat
8. Mansfield
9. Daylesford
10.BendigeBased on population growth(Growth corridors), Proximity to Melbourne and existing or proposed freeways, Lifestyle changes for Baby Boomers(over next 20 years),destination or tourist towns, Rental occupancy rates and high rental $$ yields, Facilities and government infrastructure.
Within all these the property should be close to shops, schools an in general CBD of the town. House should be in reasonable condition on a big block if possible. “They ain’t making any more Land”. These sort of properties can be hard to find, but when you do find one it’ll be worth it. Like they say, if it was easy everyone would be doing it!
Cheers
Canuck“TOP TEN”
1. Warragul(including Drouin)
2. Shepparton
3. Traralgon
4. Lakes Entrance
5. Echuca
6. Healesville
7. Ballarat
8. Mansfield
9. Daylesford
10.BendigoBased on population growth(growth corridors), Proximity to Melbourne and existing or proposed freeways, Lifestyle changes for Baby Boomers(over next 20 years), destination or tourist towns, Rental occupancy rates and high rental $$ yields, Facilities and government infrastrucutre.
Within all these the property should be close to shops, schools and in general CBD of the town. House should be in reasonable condition on a big block if possible. “They ain’t making any more Land”. These sort of properties can be hard to find, but when you do find one it’ll be worth it. Like they say, if it was easy everyone would be doing it!
Cheers
CanuckTails,
There are plenty of options. Fast growth there in the last two years especially around the city near river. I would look at Shelley, Doubleview, Brentwood (no views here though but good location older homes). Also don’t discount where all the government investment is going and that is near the coast both north and south (especially around Rockingham).Hope this helps.
So AD are you even going to give us a small hint where these properties are?
Dear All and Jo Anne
I would be interested to hear more on this subject as well.
I asked my bank a couple of years ago about this , but the person concerned had not really heard of it or at least (they) did not practice this form of transaction. Any suggestions?
Can you go to the banks and ask for bankrupt property information and propose to purchase the default amount??
Cheers IsagoldThanks for the feedback Steve … and to others who have emailed with support and advice.
Felicity, I did find one topic that did a basic copmarison, similar to what Steve and yourself have said here. I just thought there would have been more discussion than what I found. Perhaps I didn’t look hard enough. I’ve only just noticed the time filter in the search function.
Regards,
DaveTEdited by – [email protected] on 31/01/2003 09:43:44 AM
Hi All
( MY )experience with Landlords Insurance is that it is not worth the paper it is written on. I have had the tennant from Hell!, but the insurance company viewed it as Poor Housekeeping. > Stubbing cig buts out in new carpet, oil and grease from motors inside the house, chopping up directly on New Kitchen benches etc etc. Long story. But the end of it was, unless I took out criminal action and court action which would end up more then the cost of damages in the long run (solicitors!) the Insurance company would not look at it. I don’t bother any more with Landlords Insurance. ( to end on a bright note after I fixed the house up again , that house has had wonderful permanent tennants in it now for over 2 years).
Cheers IsagoldHey Savanna 100,
I agree that Warrnambool is a popular choice, but the prices there have jumped over the past 18 months. I’m sure there’s still room to move, but finding a positively geared property may be hard. Good luck to anyone looking in that area. Let us know if anyone does the deal!Don’t know the NSW market except for Moama and Corowa. Both have good little weatherboards on decent blocks near facilities that come up from time to time. Good rents in area.
Good luck to us all!Canuck
Dear All,
Could you clarify your criteria for Cash Flow Positive? e.g. is that after bank interest, managment fees, R&M. Or is it Gross return?And
What do you consider a reasonable return (%) on your investment?Cheers Isagold
What I look at is the long term prospects of a town. If I can buy a property in a small to medium size town and positively gear it from the start, I ask myself what’s the down side of this deal? Worst case scenerio could be a few percent in Capital Growth per year over the next ten years. If so, I still have someone paying the property off(Money in my pocket) and made money on the limited Capital Growth. However, if the town is showing signs of population growth, the Capital Growth will most likely average out at 7 or 8% over the next ten years. You tell me, wheres the down side? Like Steve has stated this works well when you have more properties. Don’t try to make a fortune on 2 or 3 properties. If you’ve factored in your maintenance and costs of holding the property, the risk is low and controlable.
Given this, have a look at Corowa, Rutherglen, Sale, Traralgon, Warragul, Drouin and Eaglehawk. Some are growing towns, others are growing destination areas. Look for Golf courses, RSL clubs, Medical facilities and freeway access to Melbourne.
Walking distance to shops, facilities and CBD’s is recommended.
Buy bigger blocks if possible for unit or subdivision development in years to come.Good luck to us all!
Cheers,
Canuck
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