Forum Replies Created
But seriously,
I think 10k is not stacks of money but it certainly is enough to buy a house these days.
Give the agent $1000 as a deposit and leave the rest in ING Direct for the settlement period and borrow about 90%. Of course you will need to look in rural Australia but arne’t we all.
As to whether you come home and cremin keeps on working in the UK well that’s up to you but the way I see it is that being apart for a short amount of time, even if it is months, in teh grand scheme of things you could be better off.
Cheers
Leig hK[
]Read, learn, grow but most of all do it.
Hi Folks
We started about five years ago and idn’t really know it, we had to get our finances in order, and then we bought our first home (just pre fhog, [xx(]) We ploughed heaps into our homeloan and then finally this year felt we had enough equity to buy a property. The key to our success woul dbe research.
I strongly reccommend Steves book, Margret Lomas and Jan Somers, but definately read Richest Man in Babylon, it was a huge eye opener for me.
My biggest advice is go to the library, all of these books are there and they are free, thats the best price for anything[
]Good luck
Cheers
Leigh KRead, learn, grow but most of all do it.
bukti1
Thanks for the post, I would say it was interesting if I ment it!
Like all of us here we learn about and understand the risks associated with the type of investing that we choose. We know the pros and cons for BOTH positive and negative properties. Some like a mix of both others stick only with the positives!
Most of the points you raise were things we have all heard before and like anyone advocating their side only you did not manage to provide a fair unbiased opinion. I am not saying any of your information was wrong just lacking in a complete view of both sides.
I have got a negative geared unit in Sydney that has seen a good amount of growth in 6 months but still takes out more money from my bank account every month than it puts in. I have also got 2 positive cashflow properties that are putting $5000 passive income into my bank account at the end of every year after all expenses. Less income tax (say @ 30%, mine is actually less than that, but never mind!) $3500 in my pocket. My negative unit sees me shelling out $3800+ every year after all income.
We all have our own goals and reasons, so whilst your strategy is negative properties, we will all see things differently because of our own plans.
Good luck with your plans I hope they work well for you.
I choose cash[
][][]Cheers
Leigh K[]Read, learn, grow but most of all do it.
Hi Del
For my two cents, I agree with Felicity, I am building up and so want to keep as much as possible while OPM is letting do this.
Also just wondering if you ment
I think that until I get started in wrapping, I will make my loans P & I.I thought YOU would WRAP P&I also.
Cheers
Leigh K[]Read, learn, grow but most of all do it.
Westan
It depends on which strategy I am using, so this new deal is a B&H and the cahs on cash is about 16 or 17% but with a wrap about 25+%.
Cheers
Leigh K[]Read, learn, grow but most of all do it.
Hi Del
You were right it was interesting through a red[
].BTW you are only just behind on the number of posts[
]Cheers
Leigh K[]Read, learn, grow but most of all do it.
Evening Westan
Your analysis was a little more conservative than my spreadsheet, I think I got $1200 but thereabouts same o same o.
Cheers
Leigh K[]Read, learn, grow but most of all do it.
J
My two cents comes through a glass of red tonight so don’t hold much value in it if you don’t like it, but I would use the money as deposits, you can buy more and the interest is deductable.[
]Cheers
Leigh K[]Read, learn, grow but most of all do it.
Jerry
I do know where Steve and co do their property shopping … unfortunately you aren’t ready for that.
Cheers
Leigh K[]Read, learn, grow but most of all do it.
Fullout
What has your accountant advised you?
Also check out the State Revenue Office of Victoria web site, it is very informative.
Leigh K[
]Read, learn, grow but most of all do it.
[
]Read, learn, grow but most of all do it.
Woo Hoo![
]I bought the little ugly house in NHILL. $55k renting for $110pw
Apprently the original deal fell over, and I picked it up for about 10% below the original sale.Funny how things turn out.[^]
Cheers
Leigh K[]Read, learn, grow but most of all do it.
Mel
We won’t tell anyone[
]!BTW, are you mortgage broker Melanie from the MAPS group.
Cheers
LeighK[]Read, learn, grow but most of all do it.
Hi BerylF
I am a huge advocate of this product, I use it regularly, infact I used it today to send in an offer. I and others on the forum have been complimented on how professional our offers are and that we are perceived as professional investors by using these templates.
It is an e book so you get it within an minute of purchasing it. There is heaps of practical information and detailed information about each template.
All of the templates relate to any type of property, given the exception that some commercial properties may not have bedrooms etc.
All I can say about any of the products available through propertyinvesting.com is that they are truely worth the money and more in most cases.
I strongly recommend you search the forum using the search function at the top of this page to see what people have said about it in the past.
Cheers
Leigh K[]Read, learn, grow but most of all do it.
sat2003
Who are you refinancing with? I ask because I am with the NAB and we recently had out house valued to set up our LOC. I asked the NAB who their panel of valuers was and was told that they use personel who aren’t necessarily qualified valuers, hmmm[?]
Anyway, I was told that the NAB would accept a private valuation so long as it was by a registered valuer, not real estate agent, and the report had to be addressed to the NAB and stating for morgagee purposes.
We gained about 20k on top of what the bank said it was worth.
Cheers
Leigh K[]Read, learn, grow but most of all do it.
Hi Steph
I was so please to read your response, you really are getting the hang of this forum thing![
]For the Newbie’s, success is 80% attitude and 20% action. You should believe that there is absolutely no reason why Steve wouldn’t pick you. Always believe that what you want is possible.
It seems very risky especially when you have no idea about property investment like myself.
Of course there is risk, only the megre return that the banks offer us is risk free. The key is minimising the risk and you do that with knowledge. Then you at least will be investing with your eyes open.Most importantly guys remember the forum is the biggestest mentor around. Use it well[
]Good luck
Cheers
Leigh K[]Read, learn, grow but most of all do it.
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