Forum Replies Created
Hello Scremin,
West Aussie here……no wonder you want to come home and where else better to invest. 10k enough if you want to invest in regional WA, still some nice cash flow positive deals out there, we are pinning our hopes on one right now…..just trying to raise the deposit (10k FUNNILY ENOUGH!!!) and of course waiting for a reply to the O&A we put in today. Good luck when you return. See ya….sq[
]Thanks for all your feedback guys, at present talking to father in law about him taking a loan out for $10,000 for us using none of his money (we pay the loan), so we’ll wait and see what his accountant says and if he can do it for us. I’m very determined to get this property as I feel pretty good about it and have done heaps of research on the area (have been researching for about 10 months). Our broker says (without going into our situation too much), that our only other option is to completely re-finance our existing H/E loan, IP Loan and PPOR to get this next property………we are certainly running the wire but have a strong belief in what we are doing! Will keep you all informed…thanks again..any more comments welcome SQ…[
]Hi clarksonsclan,
I too am in Perth and pretty new to the forum. I am currently following Steve’s principals but had never read his book or looked at this forum before my first purchase. Just felt that positive cash flow was the way to go because for one we couldn’t afford to be putting in any money from our own pocket. I had done a lot of research and reading on investing in property and have always wanted to have a go. This forum has given me more confidence and has certainly helped with the purchase of my next IP. I have soley gone on the equity in my own home which is in Joondalup as our income doesn’t count for anything (very average), but anything is possible with a good Mortgage Broker, Accountant, some decent equity and a pos cash flow purchase in mind. We have bought in country WA as we finally realised we couldn’t get anything in the city. Above our price range…….so we started very small, got our feet wet, learnt some more and will build up our portfolio from there. Great to see more Perth people getting into the forum. Good luck with your investing. SQ[
]Hi ya,
Our first IP has an asbestos roof and is returning a healthy cash flow. I must say I was almost put off by the fact it has an asbestos roof but I have family living in the area that I bought in and they assured me that renting it would not be a problem (which is hasn’t been so far). They look better with a lick of paint also. I was told between $3000 -5000 to cart away existing roof and replace with a tin (not colourbond) roof which a few people in the town have already done. I am talking WA though, could be more expensive in the east. I suppose when it comes down to it you need to look at your investment goals and weigh it all up. Happy investing
suzieq.[
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