Forums

July 12, 2003 - 7:51 am

Thanks for all of your feedback guys its much appreciated.

Stu sounds like you may be the man for the deal.

Regards

ALex[8D]

July 12, 2003 - 12:37 am

BTW i am in Melb!!!]

Regards
Alex[8D]

June 25, 2003 - 9:46 am

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……..
Regards

Alex

June 24, 2003 - 10:51 am

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
Alex

June 24, 2003 - 10:38 am

Thanks 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???
Thanks

Alex

June 17, 2003 - 8:46 am

Fullout
In Vic if you are more than 25km over the speed limit automatic 1 month suspension of license..

Regards
Alex

June 16, 2003 - 7:44 am

Hey 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 help

Regards and happy hunting
Alex

June 16, 2003 - 6:54 am

Hi 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 above

Regards
Alex

June 16, 2003 - 3:26 am

sorry about the long post

June 16, 2003 - 3:25 am

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 /month

Leaving 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.

June 3, 2003 - 7:45 pm

Would love to have a copy othe the flyer..
Please send to ctech@froggy.com.au

Ta in avdance

regards
Alex
[8D]

June 3, 2003 - 11:36 am

i think it might eat into their profit margin dorkyboy………

Alex

June 3, 2003 - 10:29 am

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