Hi Victoria,

They are around from time to time. In the last 6 months we have purchased a block of 4, and last week settled on a block of 5. Both +ve geared.

We got 80% finance OK for both. Over 6 units gets tricky, and gets appraised on a case by case basis from what I believe (NAB).

Don’t give up!!

Good luck,
Del []

Hey Richmond,

Congratulations, you deserve it. You are always trying to help others, and you give good advice.

Well done, we all support you.

Although, being a Hawthorn supporter, this week IS set to be one more week of pain!!

Go Crawfie – (Hank)!

Del & Will

Hi Sooshie,

Yes, the regulars have been a bit quiet lately!! Personally, I have been researching lots, & trying to make sure that a settlement “happens” and it can be very time consuming.

As Arty said “this one is a doosie”. Rather than him being “disgusting”, I think he is sad, and has a major problem. He needs good advice from someone,…[Read more]

Hi Sach,

Do a “search”. Enter in P.I. Roll call.

There was a similiar post and everyone told a bit about themselves here.

It was just after the last Masters Seminar.

It’s good reading

Enjoy,[]

Del

Hi Michael,

There are a LOT of AVERAGE brokers out there!!

From experience, I believe you couldn’t do better than Stuart Wemmys from http://www.prosolution.com.au. He is based in Melbourne. He assists a lot of people on this forum.

I found he is looking at your “big picture”, not simply trying for approval on a loan.

Good luck, []

Del

Mini,

Sorry to hear about the fire. Glad to hear your property manager & insurance co. are working for you.

It’s amazing how much you can learn about this industry in such a short time. Because you’re involved and organizing things etc, it’s something that you can’t just learn from a book or seminar. Priceless!

Good luck with the repairs etc,…[Read more]

Mel,

Sounds exciting.

Who says you have to start at the bottom and work up??

Work smarter not harder, don’t they say??[8D]

Good luck,

Del

Westan,

You beat me by about an hour !!

Better late than never I guess.[]

Del

Melanie,

Yes, it’s great at first to just be able to buy some, but when you sit down and work out the difference in return, it makes you stop and re-think.

We’ve only been doing this just over 6 months. It’s amazing what you can achieve, and learn in such a short space of time,

Good luck Mel, you’ll get there quick too.[]

Del

Hi Andrew,

Thanks for that. As a rule, would you sell before the 12 months is up? Or would you hold off because of the CGT. We have one IP we are considering putting on the market as it’s just positive, which we bought in March for $80,000, did a $8,000 reno and is now valued at $115000-$120,000. After you consider 48.5%CGT it doesn’t leave…[Read more]

nu gen,

You should not be up for CGT if you are selling your PPOR. This is exempt.

Good luck,

Del

Hi Westan,

Another tonne!!

I notice it took you months to slowly reach your first 100, but only 2 weeks to talk your way to your second tonne.

Keep up the good work,[]
“Talk to you soon”

Del

Hello Fizman,

I would be re-financing as quick as I could, as you are certainly doing things the hard way, however, I’d really consider selling the house and renting for a while.

I would either cut up the credit card, or if you can’t do that, lock it away for an absolute emergency – No cheating..[]

Start using a Money Diary. Enter your weekly…[Read more]

Argyle,

What would be your buying strategy?
Capital gains or cashflow?
It appears to be far from +ve casflow.

It wouldn’t fit my criteria. But that’s just me.

Good luck,

Del

Hi Troy,

If you are looking to only have one or two IP’s then the 95% lend is probably best. Why use your own money?

But, if you are looking for several IP’s then you should be looking for an 80% lend. Otherwise the mortgage insurancer will say – “NO more loans, too risky”.

Steve & Dave always use 80 / 20 loans, as do most of the…[Read more]

Well said Amit !!

Del

Argyle610

It’s great how you can become such an “expert” in Steve & Dave’s business, simply from reading their book!

You obviously have it all worked out.

The only thing, you are quite incorrect.[]

Del

Hi Fullout,

We own one block of 4 units, and this week settle on one block of 5 units. Both blocks are +ve cashflow.

Re your question: The answer would be commercial finance. Stuart or Terryw or one of the other brokers would be better to answer this, however I think a lender will only lend 70% LVR. The interest rate I think would be 1% or…[Read more]

Hi Richmond,

We also settle on a couple this week. A block of 5 units, and also a house. All +ve cashflow.

It is hard finding em at the moment though, so we’ve decided to go down a side road for a while, and today we made arrangements to subdivide a block of 4 units and sell em off one by one, possibly by vendor finance. The subdivision…[Read more]

Hi Brent,

Don’t you need a refrigeration mechanic? Why not just try your local newspaper. Shouldn’t be that hard.

Del