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  • Profile photo of Prop16Prop16
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    @prop16
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    October 18, 2003 - 3:41 pm

    A place that once hosted the world’s best Grand Prix! ………say no more![;)]
    Shame that I live in Brissy[:(]

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    October 18, 2003 - 3:16 am

    and replacement of furniture every …..years

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    October 17, 2003 - 9:18 pm

    Yes Anastasia,

    how true what Bill have said!
    It would be more satisfying if I had contacted one of the brokers here in the Forum. But at the time I wasn’t aware about this Forum.
    My broker didn’t give me the advice I need to know as an investor and how to structure the loan properly. From the people here you get everything you need to know.
    My appreciation goes to Bill, thanks again for all your advice mate!

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    October 17, 2003 - 10:37 am

    Happy Birthday Arty!
    I know what your wish is………. a + cashflow IP on a plate?[:)]
    Sorry, can’t give, haven’t got one yet![:(]
    Enjoy the day!

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    October 11, 2003 - 9:12 am

    Does anybody know a good Accountant with IP experience and a Conveyancer/Solicitor in the western suburbs of Brisbane?

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    October 5, 2003 - 5:44 am

    Arty,

    Yes, I think we have to add a few dollars in the budget, just incase it happend.

    But somebody bought a +cashflow IP for a little over 300K. Looks like this is also possible.

    Profile photo of Prop16Prop16
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    October 5, 2003 - 4:58 am

    Arty,

    somebody said this morning that he bought a few + ones last week (between 30 and 80K) I think. And the rent, mind blowing. Realy +cashflow and 11 ss!!!
    It’s still there somewhere.
    It would be interesting how the IPs look like, isn’t it

    Profile photo of Prop16Prop16
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    October 5, 2003 - 3:18 am

    Hi Christopher,

    since you have a Certificate in IT why don’t you start a Home Business by providing personal service to people in your area about how to use a computer and teaching them the basics of MS Office and Excel and Internet. One of your target is eg. older people who don’t want to go to the TAFE College because they don’t want anybody to know that they can’t use a computer. Teach them how to use the internet so they can chat with their grand children and probably with other people of their age. I think it will be an entertainment for them. I’m sure they will save a lot of money by not playing the pokies.
    Advise them what computer to buy, get them a good deal and make a deal with a computer supplier.
    Secondly to fix computers of people who have problems with their software.

    How much you charge is up to you (below the market price of course)
    Put an ad in the local newspaper to promote your service so that people could contact you.

    Probably you could call your home business:
    “HOUSTON WE HAVE A PROBLEM”???

    Good Luck in your endeauvors!

    Profile photo of Prop16Prop16
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    September 28, 2003 - 12:45 pm

    I’ll remember that Bandit.
    To make a prop. from neg. to pos. we have to make additional payments. This is not tax deductable or? As far as I know only the interest is tax deduc.
    Any other solutions?
    Sorry for so many questions from a beginner.

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    September 28, 2003 - 12:17 pm

    Thanks Gents,

    I made a BIG calculation error!
    How much above the 11ss rule would you go?

    Profile photo of Prop16Prop16
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    September 28, 2003 - 12:10 pm

    Thanks Monster,
    I forgot that!!![:O]
    Not a good one though………[:(]

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    September 28, 2003 - 11:56 am

    Hi Bandit,

    thanks for your respond. Here are the datas, mind to give me your opinion?

    Sale Price (excl. GST) : $225,000.-
    Annual rental (excl. GST): $ 18,270.-
    Actual return : 8%
    Outgoings paid by tenant
    Lease end date : 31-1-04
    Lease term : 4.5 yrs
    Options : 5
    Rent review and Frequency: 3%

    Applying 11 ss rule:
    Weekly rent : $18,270/52 = $351.35
    Purchase price : $351.35×1000= $351,350.-
    (well above the sale
    price isn’t it?)
    Pittfalls??
    Is it a good investment?
    Somebody like to comment?

    Profile photo of Prop16Prop16
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    September 22, 2003 - 12:57 pm

    Flat average rent per week= ($75+$85):2=$80
    6 Flats= 6x$80= $480 per week rent income
    Applying 11 sec.: $480:2= $240 x 1000= $240,000
    Price= $250,000
    How come +cashflow???
    Or is my calculation wrong?

    Profile photo of Prop16Prop16
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    September 22, 2003 - 12:01 pm

    Hi Simon,

    how are you?
    You might remember my case of yesterday where you gave me some valuable advice.
    After reading Renee’s post does it mean that it would be a good idea to put my spare money (cash money) into a mortgage offset account after I bought the first IP. The loan has to be with an offset facility right?
    Thanks!

    Profile photo of Prop16Prop16
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    September 21, 2003 - 3:04 am

    Hi Simon,

    indeed, very confused! I’ve to digest what you’ve said over lunch I think.
    I become an expert at the end of the day if it’s going on like this!
    Then, maybe I would be able to help other people too one day.
    Thanks Gents! A great afternoon to you all too!
    (gtg now)

    Profile photo of Prop16Prop16
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    September 21, 2003 - 2:36 am

    Thank you so much Chris!
    You’ve opened my eyes to possibilities I never had thought before. You also have made Investing in Properties so much easier to understand than the books I’ve read (at least for me).
    I hope my example also would be a great help for other New Investors.
    Again, much appreciated!

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    September 21, 2003 - 1:11 am

    Thanks for your quick reply and congratulations with your new IP Simon!
    What I don’t understand is the following: “I would only 100% recommend the 100% option if there was a PPOR debt to be reduced as well”.
    Do you mind to explain this a litlle bit more?
    (I’ve paid off my PPOR).
    Could the intended IP also be used as security and hence I could borrow more?

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    September 18, 2003 - 12:52 pm

    Thanks Steph,

    but I defrag and clean the C: drive every second week. The message “the Program is not responding keep coming up” and I have to restart the browser again.
    Any idea from the computer wizards?

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    September 16, 2003 - 10:31 am

    Thanks for the comments guys.
    Working from 8.30 till 17.30 I only have time on week ends. Browse the net every night but couldn’t find anything special.

    $405.- divided by 3 students (3BRM) makes $135.- per head. Probably for overseas students?

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    September 2, 2003 - 12:49 pm

    Yes, I forgot the depreciation too, doogs. That much? Another bonus isn’t it?
    The more I think the more I feel I should go for it. Also because there’s no other new 2BRM Apartment in the neighbouhood under $300,000.-. It’s located near a big Shopping Centre (3 minutes walk), shops, cafes and restaurants in front of the door, close to the railway station and bus stop. I pay approx. $20,000.- in tax.

    I’ll make the decision tomorrow. There’s no business without risk. But…..this is a calculated risk.

    Many thanks for your feedback guys!

Viewing 20 posts - 101 through 120 (of 125 total)
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