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  • Profile photo of walkernickwalkernick
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    @walkernick
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    Post Count: 68
    June 18, 2003 - 8:25 am

    Hi Curl Curl,

    I have been looking in the Maitland/Cessnock/Kurri Kurri area outside of Newcastle and it has seen phenomenal growth over the past year especially in the low price ranges…it’s very hard to find positive cashflow properties there anymore. However if you are looking for capital growth, the Hunter area has good prospects because of its proximity to Sydney, relatively lower house prices and expanding industry (check out the Hunter Employment Zone – http://www.hez.com.au). Also many people are now being priced out of the Central Coast and are looking further north.

    Hope this helps
    -Nick

    Profile photo of walkernickwalkernick
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    June 17, 2003 - 9:31 am

    Hey Fullout

    The best way to make a complaint about the police is to write to or call the Ombudsmand or Commissioner of Police.

    -Nick

    Profile photo of walkernickwalkernick
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    June 17, 2003 - 2:31 am

    Hey David

    Oops – didn’t check that post before I pressed send!! They valued it significantly below the purchase price =)

    -Nick

    Profile photo of walkernickwalkernick
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    June 16, 2003 - 11:50 pm

    Hey everyone,

    Can I just say I’m really enjoying reading about the different people on this forum! Great idea this Leigh…

    I’ll keep mine short, but I’m Nick, 20 years old and studying Finance/Law at university in Sydney. I almost purchased my first property (b+h) using my parent’s equity for security about 2 months ago. Luckily for me, the bank valued that house at more than the agreed price, which made me think twice and reconsider the deal. It’s still for sale – but I now doubt we will buy it.

    We are now starting a full steam ahead wrap strategy with all the new knowledge that I have from the masters seminar – setting up a trust, and not cross collateralising! I couldn’t bear the thought of the bank taking our own house….

    I have 3 and a half years left of my degree, and really hope to have built a nice passive income for myself and father by the time I graduate – so he can retire, and so I can work and travel wherever I want.

    Well wasn’t that short hey.. I’m off to study for exams now =)

    Look forward to reading more of these posts

    Cya all
    -Nick

    Profile photo of walkernickwalkernick
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    @walkernick
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    June 14, 2003 - 2:06 pm

    hey guys,

    thanks for your responses. they confirm the sentiments that i was having during the seminar…

    the example given was the more ambitious one presented in the seminar – the other example was to charge $100 more rent and offer 5% of the equity…

    the thing is, the presenter was saying that these equity leases easily make sydney property positive cashflow – yet to do this under the 11 second solution the returns would almost need to be doubled!

    the seminar was a free way to get a 6 month subscription to wealth creater, but offered little else =)

    night all
    -nick

    Profile photo of walkernickwalkernick
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    June 10, 2003 - 11:49 am

    Hey Terry

    You legend! People like you make this forum so great =)

    Thanks
    -Nick

    Profile photo of walkernickwalkernick
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    June 8, 2003 - 1:03 pm

    How about a widescreen DVD version? Now that would be cool… =)

    Profile photo of walkernickwalkernick
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    @walkernick
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    June 8, 2003 - 1:00 pm

    Hey Nathan, Terry and Michael,

    Thank you for replying, it’s really appreciated.

    Just to clarify – when you talk about the percentage premiums, are these percentages on the entire mortage amount – or just on the amount that exceeds 80% LVR?

    Terry, I look forward to hearing from you on Tuesday. My email is [email protected] if that is more convenient.

    Thanks
    -Nick

    Profile photo of walkernickwalkernick
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    June 7, 2003 - 12:56 pm

    Hey Michael,

    Thanks for posting up that list, it was an interesting read!

    Being 19 and having many friends that rent, I know a lot of people with terribly uncooperative landlords.

    Remember that just as we are learning how to get the best deal for us, tenants have every right to negotiate a good deal for them. While it is true that the title of the house may not be in their name, it is the tenant’s home – and they have the right to be comfortable in it

    I think the lesson to learn from this list is that a tenant shouldn’t have to ‘bargain’ with his landlord just to get a reasonable deal. As Steve says, property is about people and the landlord’s offer should already be great for the tenant. By saying ‘no’ to any request the tenant may have you are hardly creating a win-win outcome!

    My 2 cents worth anyway =)

    Regards,
    -Nick

    Profile photo of walkernickwalkernick
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    June 7, 2003 - 2:21 am

    Hey Brett,

    Well done that’s a fantastic achievement to get the ball rolling so to speak.

    Are you talking about the mid north coast of NSW?

    Regards
    Nick

    Profile photo of walkernickwalkernick
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    June 3, 2003 - 11:31 am

    Hey there,

    that sounds like a really innovative idea! did you get your responses from the flyers or from the referral system? i would love to see a copy of the flyer, my email is [email protected] which area were you looking?

    regards,

    nick walker =)

    Profile photo of walkernickwalkernick
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    May 12, 2003 - 7:04 am

    Hi everyone,

    I just thought I would comment that EZ-Rent seems really comprehensive and a great analysis program to use. I have just tried it on a property I am looking at buying and when you look at the whole picture, things are not always as rosy as they look to start with!
    Thanks for making it available free! I will definitely be using it in future.

    -Nick Walker

    Profile photo of walkernickwalkernick
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    May 7, 2003 - 1:57 pm

    Hi CStar,

    I may be wrong, but do the FHBG rules really state that you must live in the property for a year??

    I have been ‘advised’ by my accountant that if I want the FHBG for my first property (which is an investment) then all I need to do is go live in it for a weekend, change my address with the RTA and then if the ATO or anyone asks, I got sick of living by myself and went back home for the great home cooked meals – but they let you keep the $7000.

    I’m not sure whether this is the most ethical thing to do, but from what I understand, if I go to buy my own Principle Place of Residence, and the FHBG is still around, I no longer am eligable for the grant if I have owned property (investment or otherwise) – and this to me seems very discrimantory against young people who take the initiative to buy an investment first!!

    Any accountants out there might want to tell me if I’m completely wrong here!

    Cheers
    -Nick Walker

    Profile photo of walkernickwalkernick
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    May 7, 2003 - 1:45 pm

    Hi everyone

    The Australian Property Institute publishes a list of Certified Valuers in NSW and lists their ‘standing’ in the institute eg fellow, associate, etc. I got a copy of the NSW book at the recent Property Expo, and I’m sure there’s one for Victoria available as well.

    While it doesn’t specifically list valuers that the banks use, the valuers who are recognised by the Institute have to follow a strict code of conduct. Try calling the institute for a copy in Victoria.

    -Nick

    Profile photo of walkernickwalkernick
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    May 5, 2003 - 12:48 pm

    Hi Fullout,

    From my experience, lenders take the lower of the contract price or the valuation price. However, this will depend on the length of the settlement, and whether the valuer is recognised by the bank. The property I am presently buying has a September settlement and I have arranged with the vendor to do some renovations before settlement. As such, I am going to attempt to get the property re-valued by the bank closer to settlement so I can borrow based on the true rather than the contract price. My advisers have told me that this is a possibility not a certainty.

    Cheers
    -Nick

    Profile photo of walkernickwalkernick
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    May 5, 2003 - 12:43 pm

    Hi Bruce,

    What state are you in? I am a university student in Sydney currently purchasing my first property. I have found that I can only afford to look outside of Sydney and as such am buying near Newcastle. I suggest you buy the Australian Property Investor magazine to compare the growth rates and median prices of various areas, and start taking trips to go look at pleanty of properties there. The only way you really know whether prices will go up in the future is to go study the market yourself. But a few things that will bolster future growth include:

    -close to the coast
    -close to current or pending transport links
    -close to large or expanding industrial or commercial areas
    -close to tourism hot-spots such as wineries
    -close to popular retirement destinations
    -in an area where council is undertaking a town beautifical or ‘renewal’ process
    -in an area with above average population growth (check the ABS catalogue 3218.0 for these statistics)

    If you would like to have a chat about anything shoot me an email at [email protected]

    Cheers
    -Nick Walker

    Profile photo of walkernickwalkernick
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    April 13, 2003 - 11:53 am

    Hi quentin,

    I would just like to question your reasoning that someone young would be better with capital gains.

    I am 19 and currently purchasing my first property which is cashflow positive (positively geared in fact). I reason I like the strategy so much is, being on a much tighter income that older people (I am a student) I want to protect myself against the risk of possible interest rate rises and potential ‘disaster’ like extended vacancy, tenant damage. I believe that, when on a lower income, positive cashflow provides that security.

    Also from a tax point of view, making a positive from return from your property means, when I am in a low tax bracket, I do not pay any tax on my gains, whereas if I was in the top tax bracket then some of the gains would be taxed. Please feel free to dismiss all my arguments because I am young and naive!!

    Thanks,
    -Nick

    Profile photo of walkernickwalkernick
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    April 13, 2003 - 11:32 am

    Hi everyone,

    Today i spent $13 to go to the property expo in Sydney which, for what it was, was good value and an informative day.

    However, the information provided at the event, in large part, was either from people who

    a) don’t invest in property, or have a tiny portfolio
    b) who are just trying to adversitse their company, or
    c) who are not willing to go into any detail on the topics they are speaking about.

    It is the same information that everyone has heard before…and that anyone can log onto a couple of websites and find out for themselves.

    To get the kind of information that the herd doesn’t get, we need to pay. If Steve did charge $13 for his seminar, then you’d have the entertainment centre filled with people who all would go and apply his principles. I’m happy to pay for his seminar because firstly, it’s not an unreasonable price for a whole weekend (including food!), and secondly, because I know that the rest of Australia isn’t going out applying his techniques. Nobody who spoke at the expo today had a portfolio of 130 properties.

    So how about we stop calling each other names, and if we choose to follow the herd that’s our own choice. But don’t judge anyone based on your own biased opinions.

    Bye everyone!
    -Nick =)

    Profile photo of walkernickwalkernick
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    March 16, 2003 - 12:50 am

    hi peter

    i probably cant help you with all your questions, but my accountant has told me that any trips made prior to signing the contract on your first property will not be deductible. he has told me that it’s probably OK to claim the travel to go sign the contract and any travel subsequent to that. as for books, etc purchased before your first property, they will most probably not be deductible. hope this helps

    cheers
    -nick

    Profile photo of walkernickwalkernick
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    March 12, 2003 - 10:13 am

    hey ppl,

    i have created a spreadsheet that does quite detailed analysis on a property’s profitability..

    includes cash on cash analysis, cashflow, interest only and p+I loans, etc.

    I would be interested in having a look at what other ppl have created and I’m happy to share my work. Shoot me a mail at [email protected] if anyone is interested in having a look

    cheers
    -nick

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