Forum Replies Created
Has anyone else have an opinion?
Monopoly,
I like your way of thinking you are cautious and ask all the right questions and in the long run it is your final say. I think it depends on how long you have been investing and what you know and dont know.
I large amount of people post on this forum and i think the question asked the most is: “Where do you find Positive Cashflow Properties”I buy and hold, i sell and i buy more with a larger deposit from proceeds of sale therefore converting – cashflow Investment property into + cashflow properties no matter where they are.
And that is only one strategy i use their are many more.
So you dont have to hold for ever to move forward.But thats your choice.I hope this helps a little.
Cheers Dom[exhappy]I dont believe you are “stupid, condescending or just plain ignorant”.
But if you had fifty dollars given to you in cash every week in your hands and you had ten properties each returning $50, would it not be better to take the risk than to be giving that fifty dllars a week to the bank for a long long time.
“That’s fine, for those who are prepared to take such risks”
Should their be any risk if you have done your homework?
Because i spend countless of hours reasearching investment properties i find + cashflow properties every day and with minimal risk or none at all.
Its just a matter of time and once you make that first $50 you just go back for more.
Every one has a different strategy high growth or passive income, you just have to work out what you want to do and do it.
DomI am in queensland , does anybody know what form i may have to start with if i get an offer?
Dom[biggrin]You can do all of that and more yourself and you will save on their fees that they will charge you.
Dom[sleepyanim]Its not easy to make money.[buz2]
sizzling_duck,
One Ip is neutrally geared the other is my PPor, and 3 positively geared IP”S.
“Do you know how much equity is available to you in those places and if that would be enough to keep you ‘travelling happy’?”
“I will end up with about $210000 in cash approximatly.”This would be a great deposit for a larger property around $450,000.
Dom
Thanks Terry ,
You are correct thats what i meant to say,but is their not an other strategy where i can use some of that cash if not all to purchase + geared propertys to help pay the new loan.So you dont have to use any of your own money.Even then i may not hit the highest tax bracket which is around $65000 a year.
DomDo you know exactly how much exit fees are ?And did you know you can incorporate them with the new lender? You might be very surprised.
As for reasons why it would definatly be better in the long run.
This worked for me , iwent to the bank and told them i was going to refinance with an other bank and they wanted to know why.
I explained that i did not want cross-collaterised my 4 investment properies wiyh my PPOr and guess what “Bingo” they obliged.
Cheers DomExcellent answer Terry
Dom[biggrin]No answers just take your buisness elswhere (Refinance).It will pay of in the long run.
Dom[wink]Not till the Fat lady sings.
If anybody is reading this then Steve McKnight has acheived something special he has brought us (Property Investors) all together.
And i have learnt so much.
Thankyou Steve & Co.
Dom[thumbsup2]Jaffasoft,
Where can you change the loan from P&I To Interest only?
DomYack the Topic was “Challenge” not for sale or would you like to buy something of me.Even thought i understand where your coming from.
Dom[biggrin]Thanks people for the feedback but only one person has been able to do this.This must be to hard even for the proffessional investors.
Dom[biggrin]
Hodgson,
Trust funds are basically a protection from someone suing you(Accountants use these) and can be used for tax savings.Check out the search facility on this forum and type in trust or trust structures.You will see the benifits and non benifits a trust can help you with depending on your situation.
Cheers Dom[smiling]Hodgson,
I cant see an error if your taking that first big step into property Investing. And it is a big step some people have found it easy and some people have just been completly put of by IP,s because you have a resposibility to your tennent,property manager and your family.It can put stress on you if you cant afford the repayments (No tennant) and repairs and maintanance must be included in a positve cash flow property PCFP.Just an example i read about 3 months ago a tennent asked the landlord to fix a hole in the carpet in his lounge room the lanlord refused, the tennant soon after tripped and injured himself and successfully sued the landlord for a large amount of money ($100000 i believe).
Sorry i am not trying to put you of IP’S but it is good to go into it with full protection (Insurance)+ gared properties are out their i have 4 curerently and as i have said on my previous posts its he most amount of money i have ever made in my life! And fortnunatly i have very good tennents which i look after. Any repairs that are needed i have them fixed promptly. You would not believe the service i get with just offerring a gift to my property manager and tennents (Movie tickets,Shopping Voucher) and this is tax deductible.
I suggest setting up a trust first, and then reading some books talk to an accountant and your on your way. A good broker will give you lots of options and a lot of valauble information. and of course dont forget the great people on this forum.
Cheers Dom [biggrin]Mortman,
Thankyou for reply and Just to clarify things the loan is already fixed $140000 for 5 years.But i dont have to break the loan to get access to the equity or do I?
And if i dont would i have 2 seperate loans 1 with $140000 and 1 with the equity obtained say $50000.(Credit card)
Cheers Dom[biggrin]Hello everyone,
Can someone please tell me how a line of credit works, say on your PPOR Eg owe $140000 valuation $280000 fixed for 5 years at 6.19%.(Suncorp)
Thanks DomHello everyone,
I definatly like positive cash flow propertys PCFP
I would not buy any negative cash flow properies NCFP.
I have one property with a $12 positive net cashflow each week and thats a carton of crown lagers each month for free. I am as rich as a king
Dom [stun]
Oh yeah great newsletter
