Hi Dezability,
Just curious did you have trouble with finance. I remember a while back even if you did pay a 20% deposit you still had to jump through hoops to get it across the line. Good work though and good luck with it all.

I only have one jv and its with a mate but we have seperate loans. It doesn’t have that many faults as long as you and your partner have the same goals and plans.

Pros: Easy to get your foot in the door
Less capital needs to be put down

Cons: Risk of partner defaulting
Have to access equity with partner on title.

Hi dave,
Very understandable and sensible to be thinking like this

1. Yes although you are still responsible for the other halfs morgage because both of your names are on the title
2. The female will always win especially with kids! from memory 60% of your assets (including super) is the most they can get if married.(could be wrong though)
3. I…[Read more]

Cash Flow positive properties are easy to find if you target the right area and know the market!!! Low socio economic areas are highly cashflow positive with current interest rates and a lot of these properties have been sitting on the market for months(room to negotiate massively). If you are scared of bad tenants or rent arrears call a local…[Read more]

Have you considered offering a long settlement period? If the property has been on the market for a while im sure they'll be happy to have a longer settlement, you may be able to solely save in time or both save some money for a deposit? Hope this helps

Catalyst wrote:
Hi, when calculating whether a property is REALLY cash flow positive I count ALL costs to me. I borrow 105% so calculate that. But even if you haven't borrowed all the money you need to calculate lost earnings.

i.e. You have paid $38,052 out of your pocket (does that include solicitors costs, building reports etc)? This should…[Read more]

Looks better than the one i use lol

Albury Whittles does a good job. Guess it just depends who is working in that branch

Sorry to hear about your phobias. As Jamie mentioned it is possible but I think you’d have more luck if you were in a joint venture situation(maybe a family member could help use with cash/equity/be security for you and help with the loan servicing). Good luck

1) Yep thats right. You can try for a 5% depoist at cooling off just so you can have more money in your account
2) I would personally call them and than send an email to confirm your offer, I find its easier to haggle over the phone. Make sure you mention negative aspects about the property before you put the offer in. Good luck

You can ask for…[Read more]

Hi Ajay,
I was thinking the same thing although from what ive been hearing they would be expecting it to be finished completelty in 2030 if not longer if they debate it which they will.

Benny wrote:

I recall this kind of thing happening around 2000 – 2002 (I think).  Everything was booming, and these groups would tout "cheap properties" by bussing people to smaller towns/cities.  Of course, ANY more remote town is going to have a completely different pricing structure to Syd, Mel, Bne, etc.   So they promoted these "cheap"…[Read more]

I’ve only ever had the first offer accepted once but I always offer a ridiculously low offer with some valid points ie old hot water system, concrete cracking and bad neighbourhood etc the agent has to legally pass the offer on according to their legislation. They normally come back with an counter offer and than you normally negotiate of that.…[Read more]

*can

Hahaha I did tiling at my ppor so I could get good at it for when I did my IPs. It was a learning experience alright now Im good at it and my ip have great tiling and there is one row of uneven tiles in my laundry that taunts me every time I see them. Point of post practice on someone else’s property if you cab

Hi Shanin thanks for the reply. They would be side by side/single storey and its a major regional victorian city.

Same as Jamie i got a spreadsheet for all properties so i can monitor monthly, quarerly etc profit and losses. I can send you a copy if you would like? also all paper goes into folders

Would be a shame if someone "stole" it before you could get it into storage  

Offset could be my partner <3 i do the same as Jamie all rent/salary goes in and just use a credit card and repay before the interest kicks in

Qlds007 wrote:
DK not saying money can't be made but it is not an area loved by the mortgage insurers.

Cheers

Yours in Finance

   Valid point