Forum Replies Created
Hi Leeanne,
You are so lucky that you live in QLD.
+ve cashflow properties are in many large regional towns of QLD.
Have you searched http://www.realestate.com.au , and http://www.property.com.au ? They are a great starting point. Search by price, and include all areas. Do your due diligence on each property though. There are a lot of sharks out there, waiting to pounce on unsuspecting buyers.
Don’t give up,[
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Good luck,Del
Hi Muppet,
Thanks for resurrecting this post from the archives!!
It is definately interesting reading.
Wonder who will still be around 12 months from now? Hopefully me![
]Regards,
Del [
]Hi Beachboy,
Debt can be scarey if you haven’t taken proper precautions.
Perhaps you could take out or increase your life insurance policy to cover the amount of debt.
We did this, so that if one of us dies, we could pay out all loans easily (if necessary), without causing the other to sell, sell, sell at a time of crisis.
Perhaps have some loans at fixed interest rates, some loans over 3, 5 and 1 yr terms. Have some variable, etc. etc. Also, all of our loans AT THE MOMENT are P & I – to reduce.
The bottom line is – if you don’t feel comfortable with debt, don’t have a high LVR.
Good luck,
Del [
]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 []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, perhaps you can be a good listener for him. That may be a good starting point for him.
I wish you both luck.
Bye,
Del[]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
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 heaps, but it is still a deposit on the next one with hopefully a better return.
Or would you wait the 12 mths? Thanks,
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,[
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“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 wages on a calander or spreadsheet, and list all of your daily & weekly expenses. Religiously write down and account for every cent that you are spending. Do this for 12 months. It can make an amazing difference to see what you actually earn, and what you are actually spending money on.
The last thing I would be doing at the moment is buying an IP. Interest rates are on the way up, and the last thing you need is a +ve cashflow ppty, to turn -ve, because of interest rate hikes. Also, properties are overpriced at the moment, it is a sellers market. Don’t get caught up in the hype about property investing. All investments can be risky. Please take care and get your finances in order first.
Best of luck for the future, you CAN do it!![
]Del
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