Forum Replies Created
Another thought – why don’t you refinance and use the equity to buy the new car and then you still get to keep the property.
Hi Octagonal
I used an Agents Buyer in Vic (I live in NSW) namely Jack Henderson from Metropole Properties to buy my first investment property this year. The money paid was well worth it as I believe he got me a great apartment in a great location. He did all of the leg work, negotiating and followed through till the end. I would have no hesitation in recommending Jack and intend to use his services again in the near future. Check them out at http://www.metropole.com.au.
Regards
ShelleyI use Ed Chan of Chan & Naylor. Check out their website at http://www.chan-naylor.com.au. Ed is one of the best and knows everything about properties, taxation and trusts. He is an investor himself.
Hope this helps
ShelleyWooooo Hooooo!!!!! I have a tenant. Signed yesterday for a 12 month lease at $225/wk. A little below what I was hoping for but just glad to have some-one in there to help me pay for it.
Thanks for all your responses.
Shelley
A tip from Dale Gatherum-Goss I’ve never forgotten.
Don’t ask your Accountant “Can I claim xyz?”
instead ask “How can I claim xyz?” A good Accountant will think of a way.
Shelley
Thanks so much for all your replies. I have taken them all on board and am putting on my thinking cap.
Fingers crossed I will a tenant very soon.
Shelley
I have an exclusive agent agreement for 60 days and am confident that once they get some-one all the right checks will be done to ensure I get some-one good so trying another property manager at this stage is a no-go.
There are tax benefits with a HDT. The loss can be distributed to a beneficiary (being the highest income earner) rather than being carried forward in a family trust hence taking advantage of negative gearing.
Regards
ShelleySpeak to your Accountant re a Hybrid Discretionary Trust depending on which state you are purchasing in. With a HDT you will get the benefits of negative gearing as well as asset protection.
Am just a beginner myself but similar position with regards to equity and cashflow. Have set up a HDT and just purchased my first property.
Hope this helps a bit
ShelleyI’m not sure why the change in plans. I think she is inexperienced with investing and is not sure which direction she wants to take. I think she likes developing rather than buying already established. She thought she had a sale set up prior to commencement but now that has fallen through and the market has dropped she is thinking of other scenarios.
Thanks for your responses.
ShelleyA second job could be in the form of housecleaning or even ironing in your own home for cash in hand. If you have a family ironing at night when they are in bed means you won’t have to sacrifice time with them. Housecleaning pays good money. I pay my housecleaner $15/hr for 3 hours. She does 2 a day for 5 days per week therefore her pocket money is $450 per week. Not bad hey? Gardening, lawn mowing, babysitting, petsitting are all others to think about.
Good luck with it all.
ShelleyI agree Coastymike but doesn’t help with this situation. Can anyone else offer advice?
Thanks
ShelleyYou could also try Metropole Properties. Check out http://www.metropole.com.au or search Michael Yardney on this site. I have just used them for my first purchase and can thoroughly recommend them. PM me for any other info.
Regards
ShelleyI have just used a buyers agent, namely Jack Henderson from Metropole Properties, to buy my first investment property. For me it was a case of someone holding my hand to make the first step. I have learn’t so much from Jack and he has helped me all the way and continues to do so even after the deal has been done. The fee you pay is nothing when down the track you see what a great investment they have sourced for you. I can thoroughly recommend them. Feel free to PM me with any questions.
Regards
ShelleyI am a client of Investors Direct and have used them to make my first investment purchase. Their team is very thorough from word go and have different sections which follow your loan from start to finish. No problems at all and very helpful.Recommend them 10 out of 10.
Regards
ShelleyHi Jason
I’m from Singleton and use a Sydney based Accountant by the name of Edward Chan. You can check them out at chan-naylor.com.au. I had an initial consultation and have since set-up a trust structure through them all over the phone and email so you don’t really need to live near Sydney to have a good accountant. I can thoroughly recommend Edward and he invests in property himself so is very clued up about it all.
Hope this helps
ShelleyHi B Smith
As Coastymike stated Ed Chan from Chan & Naylor is very good. I use them and Ed is an investor himself so knows all the tricks of the trade. Check them out at http://www.chan-naylor.com.au.
Regards
ShelleyI can recommend Metropole as listed above by Michael. I am currently using them to get my first IP in Melbourne. I also live in NSW and the difference in States has not been a problem. Feel free to PM me for more info.
Regards
ShelleyHis horses name is Friday. My 11 year old came home from school with this one a while ago.
Regards
Shelley
If you are looking for a buyers agent in Melbourne I can recommend Metropole Properties. Check them out at http://www.metropole.com.au. Their agent is a fantastic help. They charge 2.5% of the purchase price plus an initial agreeement fee of $1100. Well worth the money if you are time-poor. They know the area very well and the current market. I wouldn’t go past them. I am currently dealing with them in order to clench my first deal.
If you would like any more info feel free to PM me.
Regards
Shelley
