Forum Replies Created
Cabo why dont you post your numbers I’m sure you will get a more insightful response from some of the great brokers and others on the forum?
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHad a look in the mirror lately??
Yep..in a cafe..there was a sign there it said “No wonder you go home alone”
so i left..
alone ![biggrin]
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorInvestors Club, Craig Turnbulls group, And unsure what Tracey’s group in Subi is called..a search on the Forum may yield results..
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorR U taking the P C?
R
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorPeter SPANN has some classic auction techniques..haven’t read much about tactics from anyone else..
Too long to go into details here, you may be able to find his info somehwere though?REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorWe have our IP’s with different PM’s..makes negotiations easier [biggrin]
10.5% Is that including GST?
I thought it was bad in WA at the going rate of 9.35% (our lowest is at 8.5%)
Good luck with the rent increase $20 p/wk is a big jump (to me) in one hit, the tenant may leave on principle..however, you may just get a better one atthe higher rate, ya never know,let us know how you go..
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorClick onto Infochoice as there is some helpful calculators there as well..
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHi Shelley,
What is your LVR and DSR?
Will servicing the loan be a problem?
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorI think adding “contract subject to this being approved by council first” is fine, however you would need to add something such as that the contract will be signed x days after this is achieved or some such thing..as who knows how long it will take to get council approval, so how do you set a settlement date?
and also to add a finance clause; would probably be more worrying for the vendor than the above as it looks like you just want a way out if you change your mind..?
What would you think if the deal was offered to you?
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorThanks Calvin..looks great to me
I also had an e-mail from someone saying they allow 33% of PAYG income Plus 75% of all rental income.
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculator:
http://outhouserag.typepad.com/outhouserag/files/hyperboy.wmv
.Hope that works and at least its safe..
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorOriginally posted by calvin@thirty4:Psychiatrist,
are you trying to find out what you pay/ And/or what penalty interest late rental payments incurr?If you are only looking for tracability? It is easy enough to set up an “Agent ID” on a deposit book with most banks. What it does it allows several different agents (read Tennants or REAs) depositing into one account but each having a different id code. This makes tracking who pays what and when very easy when looking at your statements.
I can’t recall what they are called, but I remember a friend that has one off-set account against his PPOR collecting rent from 6 other IPs all with their own ID.Doesn’t do much calculating, but sure helps sort out the muck and allows easy tracability!
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonNever heard of that one calvin, sounds interesting..
Our statements show the REA companies name and Trust a/c name when rental deposits go in.
Roofarmers soundsinteresting as well..i’ll go open excel now…
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorI thought they allow a certain % of your PAYG Income , plus a % of any of your rental income; If that figure is greater than your loans annual repayments they are happy..
however, the banks may have different ratio requirements?
Any of the brokers able to assist here?
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorThis time of the year is prone to flies anyway isn’t it??
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHmmm..
Off the top of my head..
1- Build your Team
By this I mean find a good broker, accountant and ensure you have other investors upon whom you can *bounce* ideas off (such as this forum [biggrin]), as someone said, you should not be the smartest person in your team (however, question everything and learn along the way..which brings me to..)
2- Knowledge, Knowledge, Knowledge
is as Important as Location, Location, Location and IMHO even more so when it comes to Investing.Start compiling information and learning how the game works rather than getting someone to do it all for you; you will always look after your money better than others as you have the motivation to do so, however, you cannot go past good advice from knowledgeable people..
3- Get started now..
You may not have the cash right this minute but you can sure as heck start building a strategy for when you do have it..best thing is it costs you nothing to start looking in REA windows, free RE publications,speaking to bank managers, brokers and planning your budget etc..
4 – (BONUS)[biggrin] Know the Costs going in!
Know the financial statements inside out when you look to purchase.
What are operating expenses?
What are the loan payments?
Vacancy costs and rates?
Tax- costs and benefits?
What does the cash flow statement look like? These are key issues that must be looked at before making a solid investment.“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorPost some numbers for people to assist, have you had a QS do a depreciation schedule?
Have you filed a tax variation form?
More Info = More Help..
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorIt makes cents to become rich and happy?
Have you ever read “As a Man Thinketh” by James ALLEN, over 100 odd years old and a great read.
Not only that but “Applied Knowledge is POWER” the forum and many members can attest to that
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorRAMK, It’s definetly woth getting some inside info from CATA on the best structures, also search this forum..
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorAnd you pick of the bunch Richard ;o)
They usually seem to take it in turns being market leaders..maybe go contrarian??
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorAgree with sending a PM to QLD007..he’s been helpful to me..
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculator
