Forum Replies Created

Viewing 20 posts - 21 through 40 (of 87 total)
1 2 3 4 5
  • Profile photo of shoooshooshoooshoo
    Member
    @shoooshoo
    Join Date: 2011
    Post Count: 90
    September 2, 2011 - 12:24 pm

    so its like selling a property , but with a loan attached to it, but if you cant sell it, you end up keeping the house, but with the higher interest rate?

    Profile photo of shoooshooshoooshoo
    Member
    @shoooshoo
    Join Date: 2011
    Post Count: 90
    September 2, 2011 - 9:09 am

    hi guys, thanks for your replies, appreciated. I’m mainly looking for positive geared properties. the way i understand it currently, is that the pay structure is you have to subscribe for at least 1year, and if you want to cancel, you have to pay a 50% cancellation fee, that is why it seems dodgy, the joining fee is about $1700 for a year, with full interestate access to everything. I guess its cheaper than hiriing a buyers agent, but then again you cant see the property.

    Profile photo of shoooshooshoooshoo
    Member
    @shoooshoo
    Join Date: 2011
    Post Count: 90
    September 1, 2011 - 1:33 pm

    hi Jasin

    i dont know the details unfortunatley. but thanks for the information. do you know what the LVR required borrowing amount is in blackwater/dysart?

    Profile photo of shoooshooshoooshoo
    Member
    @shoooshoo
    Join Date: 2011
    Post Count: 90
    September 1, 2011 - 12:27 pm
    JaSin66 wrote:
    I bought in Blackwater in the early days, I was (still) employed with Utah now BMA, I bought the company house for $8000 which seemed somewhat ludicrous back then because everyone was renting off the company for $15 a week, I received my $7000 First Home Buyers Grant, sold it many years later for $220,000, $20,000 under market value (sold it to family member), that style of house is now selling for $300-$400,000 depending on upgrades/makeovers etc, I bought another house 4 years ago for $385,000 that had been extensively reno’ed (a bargain) it’s now valued at $430-$450,000. I’m looking at 2 other properties here, 1st returns 10.1% gross,….2nd 10.4%

    i read on the forum that someone in blackwater was trying to sell their property for 12months and couldn’t sell it.??

    Profile photo of shoooshooshoooshoo
    Member
    @shoooshoo
    Join Date: 2011
    Post Count: 90
    September 1, 2011 - 12:13 pm

    hi Paul,

    thanks for the info, i also read your website. The one thing that seems to be an issue, from what i read is that you can “run out of time” advertising your property to be vendor financed, and you have to carry the loan with the higher interest yourself. can you provide more clarification?

    Profile photo of shoooshooshoooshoo
    Member
    @shoooshoo
    Join Date: 2011
    Post Count: 90
    September 1, 2011 - 6:21 am
    ryan mclean wrote:
    Vendor finance is actually pretty simple when you do understand it. Instead of the bank lending you money you assume the loan with the buyer. This is perfectly legal and done everyday! It is even more common in America.

    This post on creating cashflow with vendor finance covers the basics and may help you to get a better understand.

    In regards to the lenders I have the follow tips.

    1. Find lenders who take into account 80% of the full market rate for the rent. Not 80% of 4% rental yield. What if your rental yield is 10%?
    2. Don't lock everything in with one lender
    3. You may need to find lenders who offer a higher interest rate for the increased risk.
    4 Over time get your properties REVALUED and get the rental income from them revalued also. Hopefully this will add to your serviceability

    Ryan McLean
    CashFlow Investor

    ps. Another article that may help is how to buy more property.

    hi Ryan

    i’m reading now the link you posted on “cashflow owner finance”, and i dont understand why would any buyer would use vendor finance, if the interest rate is higher, and the purchase price is higher as well, etc, is it because they cant borrow from the bank for whatever reason that they need to use “vendor finance”. also what happens if the buyer defaults on the loan? so many questions..hahaa…i will keep reading

    Profile photo of shoooshooshoooshoo
    Member
    @shoooshoo
    Join Date: 2011
    Post Count: 90
    August 31, 2011 - 3:27 am

    thanks guys you are champions.  I have started reading Ryan Mclean's links, so much to read, i'm going to try to get through it, my brain has been a vacum for information lately.

    Profile photo of shoooshooshoooshoo
    Member
    @shoooshoo
    Join Date: 2011
    Post Count: 90
    August 30, 2011 - 10:49 am
    xdrew wrote:
    shoooshoo wrote:
    Seriously guys, i have no idea what Xdrew or Paul are talking about. Vendors finance? i thought the bank only provides finance.  Please provide clarifications, i will also research the matter. And thank you for your posts

    Thats what the banks want you to think. That the banks can be the sole suppliers of housing finance for your requirements.

    However they are just the top of the lending pyramid.

    In any non-specific order .. here are a couple of options you've probably never thought of .. yet these options exist.

    Bank Lenders
    Non-Bank Lenders (at the moment most of these are really backend Banks)
    Equity Based Lenders
    Vendor Financed Loans (the owner supplies finance)
    Solicitors Funds
    Groupshare (Property Trust)
    Family Member OR Family Member signatory (be careful this means THEY guarantee your deal)
    Profitshare (Vendor financed Owner developed)
    Rendered profit deals – no vendor finance .. no liability .. you get a better price for his property and split the profits.

    There is more than one way to make a deal.

    thanks Xdrew for the information. Ok, lets start from the start with your list, with the bank lenders,

    these are obviously the big banks, smaller banks, what about credit unions, etc, are they safe?

    Profile photo of shoooshooshoooshoo
    Member
    @shoooshoo
    Join Date: 2011
    Post Count: 90
    August 30, 2011 - 10:38 am

    hi guys, i came to this post to get information of the latest CF+ locations in australia, can someone update me, instead of going through 20pages of the forum :)…many thanks.

    Profile photo of shoooshooshoooshoo
    Member
    @shoooshoo
    Join Date: 2011
    Post Count: 90
    August 30, 2011 - 3:40 am

    Seriously guys, i have no idea what Xdrew or Paul are talking about. Vendors finance? i thought the bank only provides finance.  Please provide clarifications, i will also research the matter. And thank you for your posts

    Profile photo of shoooshooshoooshoo
    Member
    @shoooshoo
    Join Date: 2011
    Post Count: 90
    August 29, 2011 - 10:22 pm

    hi Josh, thanks for your comments.  I saw both my third party broker and bank manager.

    interesting, thanks guys. Michael your number 5 point: …rather then the "current SVR + 2%= 9%"… SVR is that the servicecibility + 2% interest rate rise?

    Profile photo of shoooshooshoooshoo
    Member
    @shoooshoo
    Join Date: 2011
    Post Count: 90
    August 29, 2011 - 6:38 am

    many what kind of mum is that? :)

    Profile photo of shoooshooshoooshoo
    Member
    @shoooshoo
    Join Date: 2011
    Post Count: 90
    August 28, 2011 - 12:28 pm
    Prattman77 wrote:
    Carla may well be right, I am just going on what we have 'enjoyed'.  Monthly updates of 'just one more month, due to (insert lame reason here)'.  I recognised the pictures of the plan on her website as the same as the ones we bought.  The two developments appear to be back-to-back on to Queen Elizabeth Drive bordering the shops I mentioned.  Send the plans if you wish, and I can send you some pics of the building site, due for completion… next month. :-)

    i have sent you a PM with my email. how is it that you got a lease for 2 years, before it even finishes?

    Profile photo of shoooshooshoooshoo
    Member
    @shoooshoo
    Join Date: 2011
    Post Count: 90
    August 28, 2011 - 8:56 am
    Prattman77 wrote:
    Hey guys,
    Interesting.  There are a set of identical units just being finished near the local shops.  I bought one off the plan.  The downside (don't laugh too much) is they are now TWO YEARS past their original completion date.  They were due for completion late 2009.  The builder went bust not long ago, and the construction was taken over by another mob just this month.  The only upside is that I paid (deposit on) $374k, and the already signed lease is for $1000/wk.

    Dysart is still going gangbusters, but buy one of these with a huge grain of salt about the completion date.  Huge.

    wow wow wow..what’s going here, you telling you have been waiting more than two years for these to finish? are you sure these are the same ones? i can send you the detailed plans and everthing to confirm. the agent Carla, from “properfy4profit.com.au” told me that settlement is due this time next year.

    Profile photo of shoooshooshoooshoo
    Member
    @shoooshoo
    Join Date: 2011
    Post Count: 90
    August 27, 2011 - 1:34 pm

    hey guys

    i’m considering buying this unit in Dysart, i have heard that this unit, or maybe something like it, was going for cheaper in the local newspaper.

    http://www.realestate.com.au/property-apartment-qld-dysart-107626389

    Profile photo of shoooshooshoooshoo
    Member
    @shoooshoo
    Join Date: 2011
    Post Count: 90
    August 25, 2011 - 8:29 am

    thanks Josh :)

    Profile photo of shoooshooshoooshoo
    Member
    @shoooshoo
    Join Date: 2011
    Post Count: 90
    August 23, 2011 - 1:59 am
    shoooshoo wrote:
    shoooshoo wrote:
    Hi guys just read this article about the massive mining investment from the Indian company in galilee basin. Is this the mega mine happening in alpha? Also in relation to the surat Basin, there was a small report yesterday that a building company in Brisbane has just secured a $57m contract with Qld Gas Company to build 1300 transportable accommodation facilities. Something you may want to include in your due-diligence if you are still looking at the Surat Basin area.

    ….thanks Josh, your da man.. also i'm starting to hate my due diligence!!!! hahaha. where did you get this info from? also i was searching for your phone number, thought i would give you a ring and have a chat.

    i asked one of the developers in the area about this, and this was his response, what are your thoughts:

    Hi…..Thank you your reply message and its great to see you are looking at what is happening out here. The article you saw is genuine and QGC are investing a lot of money into worker accommodation as you can see, they are also investing a simular amount into a housing programme for their management and more permanent staff. QGC have set up their head office here in Chinchilla and now operate 3 flights a day through the Chinchilla airport. Although QGC are a big player in the Surat Basin they are only one of the many companies out here. The workers camps are great for people coming to the area and can not find accommodation, the camps are $135 per night which does include there meals, however these are mainly used by single workers whereas the more permanent workers bring their families out find suitable properties for their families, the need for these camps will only increase as rental properties are getting harder to find. Ask yourself the question, would you live in a camp or rent a home if you could? Most shift workers will vary there shifts and some will fly home on there time off. Each mine or project operate differently but they do contribute to their workers accommodation either by providing a room in a camp or contributing to their rent as well as relocation packages if they choose to bring the family out here.

    Profile photo of shoooshooshoooshoo
    Member
    @shoooshoo
    Join Date: 2011
    Post Count: 90
    August 22, 2011 - 1:25 pm

    Thanks Josh for the link, the article states that these units will be positioned in Robee and Wolebee.

    Profile photo of shoooshooshoooshoo
    Member
    @shoooshoo
    Join Date: 2011
    Post Count: 90
    August 21, 2011 - 11:50 am
    Derek wrote:
    HI abcd,

    Have sent PM.

    can you send me a PM as well :) looking at investing in regional/mining towns.

    Profile photo of shoooshooshoooshoo
    Member
    @shoooshoo
    Join Date: 2011
    Post Count: 90
    August 20, 2011 - 9:40 am
    shoooshoo wrote:
    Hi guys just read this article about the massive mining investment from the Indian company in galilee basin. Is this the mega mine happening in alpha?

    Also in relation to the surat Basin, there was a small report yesterday that a building company in Brisbane has just secured a $57m contract with Qld Gas Company to build 1300 transportable accommodation facilities. Something you may want to include in your due-diligence if you are still looking at the Surat Basin area.

    ….thanks Josh, your da man.. also i’m starting to hate my due diligence!!!! hahaha. where did you get this info from? also i was searching for your phone number, thought i would give you a ring and have a chat.

Viewing 20 posts - 21 through 40 (of 87 total)
1 2 3 4 5