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  • Profile photo of Shackles OffShackles Off
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    @shackles-off
    Join Date: 2004
    Post Count: 12
    April 12, 2005 - 12:31 pm

    Hello,
    We are in the same boat as Wilko , I am sceptical about using financial advisors for the exact reasons mentioned above. Where is the best place to go for the sort of advice that Wilko and I’m sure a few others are looking for. Is this part of the service with the likes of Metropole (I see you posted above Michael)or Hunter House Hunters.
    Where do you get advice on how to put together a balanced portfolio of properties when starting out……….Sorry I wasnt much help to you Wilko but I too am curious on this one ?
    Cheers
    Shackles

    Greg
    If you’ve got nothing to say , say nothing.

    Profile photo of Shackles OffShackles Off
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    @shackles-off
    Join Date: 2004
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    April 5, 2005 - 4:19 pm

    Thanks Derek , will do :)

    Greg
    If you’ve got nothing to say , say nothing.

    Profile photo of Shackles OffShackles Off
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    April 3, 2005 - 11:55 am

    thanks for the reply GreatPig ……..

    will sus it out

    Cheers

    Profile photo of Shackles OffShackles Off
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    @shackles-off
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    April 3, 2005 - 11:51 am

    Cheers for the recommendations , will follow them up don’t mind buying outside of Western Australia where I live as long as it’s a worth while exercise. Does anybody know of such agents that do operate in Perth at all , would like to check out all options?
    Thanks
    Greg

    Profile photo of Shackles OffShackles Off
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    @shackles-off
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    April 2, 2005 - 8:36 pm

    Wake,
    thanks for the reply. Don’t actually have any particular buyers agent in mind.
    If anyone is willing to recommend one that they have found to be good to deal with I’d appreciate it :)

    Cheers
    Shackles

    Profile photo of Shackles OffShackles Off
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    @shackles-off
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    April 1, 2005 - 9:27 pm

    Hi Leo,

    while I am no expert, the way I understand it is that at the end of the day you dont own the property because you will still owe the original cost of the IP, when and if you do sell it you will still need to pay back the lender the full amount borrowed.Hopefully in this time the IP would of appreciated in value and you keep what ever growth the property has made less CGT. If you intend to keep the proprty for income in future years then you take out IO now to keep repayments down and use the rental income to pay this, when you are in a position to pay both P&I (when you have paid off PPOR)you hammer the IP until it is paid off where you own it outright and rent from this will give you income……….again I don’t profess to be an expert , if I am wrong please correct me as I have obviously got it wrong and don’t understand it anymore than Leo does ????
    Cheers

    Profile photo of Shackles OffShackles Off
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    @shackles-off
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    December 19, 2004 - 10:27 pm

    Thanks for your thoughts and input.
    I think for now i’ll just cool my heels a bit and digest what you have said. Will see my accountant about the tax situation if i sell before the 12 months is up versus holding onto it for another 4 months.I think “lifestyle” says it all , it is a great lifestyle property but as an investment i’m not so sure? I have just finished reading Steve’s book and have a new outlook on what an investment property should be (creating a positive cash flow as opposed to creating a negative one)
    Think maybe i rushed into the decision of buying it and never really gave it much thought, don’t want to make the same mistake again here………first lesson learnt “due diligence”
    No doubt i will have many more questions as i start my journey towards financial independence and will be calling on your experience again along the way.
    Merry christmas and have a great new year
    Cheers
    Shackles Off

Viewing 7 posts - 1 through 7 (of 7 total)