Forum Replies Created
- Originally posted by OutbackJack:
Milly
Just thought you may like to know that http://www.rsvp.co.au is probably a better forum for making new contacts.[blush2]
(Yoda)
Hey I can garantee that it works, met my missus there 5 years ago, still together.
Originally posted by NEWGEN:Originally posted by Monopoly:What’s to fear????????
Jo
The only thing I fear is media generated hype. [weird]
But wouldn’t the Media generated hype be a good thing for us poor investors, hey the prices come down and we purchase at a better price.
Because I had a fixed interest rate, they say I had to make the payments each month regardless if I were in front or not, because they say I missed a few payments they say I were in arrears.
What about this, I will approach him tomorrow as I feel this is too good an investment to miss.
I approach him on, I purchase the property on the basis that he signs a lease for 12 months, he will be able to pay his bills and also have a little left over, rental at $110 per week will just cover the payments.
At the same time he saves money due to not paying loans etc off, he being on some sort of benefits will also get rental assistance, I could get him to check while he is there as to how much he gets.
I could also ask him to pay the rates for the first year and also any water rates etc or even up the rent by an extra $10.00
He posibly would need the cash to pay of the bills, long story but his wife now resides with the bloke next door.
Bathroom needs work, and posibly the kitchen, he states you could posibly rent it for around $110 per week.
There is a garage but it has a dirt floor and is wooden, maybe a lick of paint will do that.
Have to ring the bank tomorrow so will ask them about the posibility of getting a investment loan.
Also like the idea of drawing on equity.
Its just over the positive cash flow bit but I can see potential growth in value.
Its in a quiet court location, its valued at rock bottom, its got room for improvement.
$800 per week rental, wow, geez, I pay $55 per week repayments on my house..
Thinking of purchasing a small caravan and paying $50 a week rent in a van park, geez, charge someone $130 a week here, profit, only my missus will not allow me to do it.
Can you mod the plan and show me what you mean?
No one else using any sort of software[eh]
OK, did a rough floor plan of the unit
http://www.qsl.net/vk3hhh/house/unit/unit.xls
See what you guys think
Anyone know any better software to do this with?
The first room they come into is the Loungeroom, its huge, the whole unit is a converted garage, they walk into the loungeroom and then into the kitchen, one bedroom, small, needs work off course but I reckon increase size.
Brothers are worried that to increase and move the doorway, you have to make a hole in the brickwork, I don’t see a problem.
The kitchen is at least twice that size, missus reckons you don’t need a big kitchen, all we would be doing is moving a wall 1 metre.
My thoughts..
I he has been having trouble paying his rent an extra $10 might just tip him over the edge, if he has been a good tenant and keeps the place tidy etc, why increase just yet, let him know that you appreciate him sticking with you and leave the rent as is.
Why risk loosing a good tenant for an extra $10
My rule is every 10K you spend purchasing, you need $15 per week to cover repayments, so if you spend $40K to purchase, you need minimun $60 per week, $60K you need $90 per week..
Bit unfortunate that you lost out but hey, luck of the draw, I bought my house 7 years ago, its now triple, I wish I had of bought more..
Whats the 11 second rule, I hear people talking about it all the time.
ASIC for companies on 1300 555 600, as for trusts, maybe your local solicitor, not to sure about trusts as I have never dealt with them.
A company will cost you $800 to register plus a few minor expences, you just download and print a form 201 from the ASIC website (www.asic.gov.au) and then go from there.
Remember, each calender year after registration you must do a compay review which costs $200. and also you must notify of any changes that happen in the company.
No idea about trusts but I seem to think that they are a lot simpler.
We recently bought it like that Bernard so we are not too fazed as we got it like real cheap, it was supposed to go to a rates recovery auction 5 weeks ago, the owner agreed to sell it to us before the auction so we paid the rates and all legal fees and stopped the auction, we have heard that some people were going to pay around 45K for it at the auction, we got it for around 20K.
2 Bedroom with a single bedroom unit.
We Actualy settle this week, he just wants to get rid of it.
Not currently insured, no idea when it last was, renovators delight.. pics at
http://www.qsl.net/vk3hhh/house/house.htm
Worth a try and will give them a call, hate to put windows in and have them broken.
Marry me.
its a quiet street in Latrobe Valley, the old owner has half a veranda up made out of concrete, its got a kinda side on view to a tennis court and also a football ground, what I am propossing to do is deck it the full length of the front of the house and place a roof over top, it will also add shelter to the front door.
All up, 2BR, single BR unit down back yard, I expect it may sell for around 120K
