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Thanks for all of your feedback guys its much appreciated.
Stu sounds like you may be the man for the deal.
Regards
ALex[8D]
BTW i am in Melb!!!]
Regards
Alex[8D]hey all.
Well here we go.. its taken me some time to finnally get up the nerve to start investing.
LAst friday a rang a R/E agent in Ararat whose name starts with an S… and booked in to view a property this Saturday. spoke to them twice actually.TOnight i looked at the net for properties and lo and behold the house wasnt there. checked the sold properties page and there it was. Sold on Monday. Todays Wednesday. full 2 days to contact to tell me.Not only that not even a call to see if i wanted to beat the offer. Well no wonder Real Estates have a bad name.
It makes a good start for me in the world of investing. I guess i can understand now why R/E agents have such a bad name even in the country areas where peopleare usually known for thier hospitality.
From now on i am Taking no prisoners.
Sorry about the long post guys JUst venting i guess..
Lesson learnt Dont trust real estate agents……..
RegardsAlex
Hey Stu
I am in the same boat as Wilandel. Just set up a trust and i am looking at a cpl properties on the weekend and just dont know about finance and who is the best institution/broker to go and see.
(totally finance illiterate)Regards
AlexThanks for your posts Betty and AD.
So AD does that mean even tho u have put in an offer and had it accepted/contract signed that you can amend it further if something else comes up that was unforseen???
ThanksAlex
Fullout
In Vic if you are more than 25km over the speed limit automatic 1 month suspension of license..Regards
AlexHey Sooshie
That sort of explains a few things.I have been great thanx! Been doing lots, got my structure set up and doing a lot of research.And U?
Thanks for your helpRegards and happy hunting
AlexHi again
Just thought i would add..
purchase price is $44000
rents at $100/week
rates are $500 /year so the lease on land is on top of the aboveRegards
Alexsorry about the long post
Hi Chark,
I am basically a newbie myself.
I think you need to establish exacly what your goals are. Judging by the numbers you gave for the 2 houses, and assuning you have a 20% deposit for each these are some rough calculations for you.
Springwood
Purchase price: $160000
Deposit: – $32000
Stamp duty : + $4300
Legals:approx: + $500
Mortgage fees: + $500
Balance: $133000
$133300 P/I loan @ 6% over 25 years works out to be $858/month
Rental income $190/week works out to be $823 /monthLeaving you $35 a week out of pocket
This does not include Rates, insurance,management fees, Etc
Salisbury
Purchase price: $190000
Deposit: -$ 38000
Stamp Duty: +$ 5275
Legals approx: +$ 500
Motgage fees : +$ 500
Balace: $158275$158275 P/I loan @6% over 25years works out to be $1020/month
Rental income of $210/week works out to be $910/month
Leaving you with $110 out of pocket each week.
This figure doesnt include the other outgoings as i have stated above.
What you might have to think about is that the tax saving really worth you being $150 /week out of pocket before all the other charges.
Anyone please correct me if i am wrong as i am trying to get the hang of all this myself.Basically Chark all i am saying is that you have to work out what road you want to take to your investing goals but i would much rather have a property put money into my pocket each week than take it.
I hope i have been of some help.
Take care and happy investing.
Would love to have a copy othe the flyer..
Please send to [email protected]Ta in avdance
regards
Alex
[8D]i think it might eat into their profit margin dorkyboy………
Alex
Hi all,
I wanna thank Steve and the gang for an awesome weekend. The weekend was jam packed with valuable info that i am still getting my head around.
since the weekend i have been scanning the net for deals and ringing agents asking about properties and joined as a member with Guerrilla Realestate The seminar was probably the best kick in the butt i couldve had.
It was good to meet other like minded people and learn that for every problem that there is a solution.
Once again i offer my deepest thanks and cant wait till i purchase my first IP.
Regards
Alex B-P
