PropertyInvesting.com | 99chris99 | Activity

99chris99 replied to the topic Setting up a trust in the forum Legal & Accounting

Tue, 15 May 2007 08:40:11 +0000

How much does a trust cost to set up? And who do you consult to set it up?

99chris99 replied to the topic Feedback Steve McKnight 2007 Seminar in the forum Heads Up!

Thu, 03 May 2007 11:02:16 +0000

elkam wrote:
May I ask what the 28 day challenge is?Thank youElka

If you can find and finance a property bargain within 28 days (after the seminar) you will get $500 off the upcoming advanced seminar

99chris99 replied to the topic Feedback Steve McKnight 2007 Seminar in the forum Heads Up!

Wed, 02 May 2007 09:22:59 +0000

I certainly enjoyed it! I think that his 28 day challenge is very encouraging!

99chris99 replied to the topic Finding properties in the forum General Property

Wed, 02 May 2007 09:13:18 +0000

All good answers. While I am rather inexperienced, I learned quickly that the net is only good for an idea of an area, but the best deals come from talking in person to the agents. Many of the best deals will never get as far as hitting the internet, as they are first offered to the agents 'hot list' contacts… people that he/she considers…[Read more]

99chris99 replied to the topic Tenant lied on application in the forum Legal & Accounting

Tue, 01 May 2007 10:05:08 +0000

Hi I smell a little bit of discrimination, however I can understand your reason for being cautious. Yes, she lied. So you must be asking yourself what else she has lied about. However I think she can't really be blamed. I think that she realises that telling a landlord straight up about her job will cause unneccesary concern. And I think this i…[Read more]

99chris99 replied to the topic finance from family member in the forum Finance

Tue, 01 May 2007 09:43:09 +0000

Terryw wrote:
One potential problem is if the MIL has a loan over the property. She would need a cash payment to pay that out. If this is the case she could vendor finance it to you on an installment contract instead though.

Luckily she owns it outright. I am thinking I will offer her about 30k extra than market value for doing me the favour

99chris99 replied to the topic finance from family member in the forum Finance

Mon, 30 Apr 2007 08:47:34 +0000

I will certainly keep my end of the deal… Thats part of the reason I want a formal contract. I want her to understand that I am obliged to repay her, because I dont want her to think I am ripping her off. She is still having a little trouble understanding what I am proposing.

99chris99 replied to the topic How much can I borrow? in the forum Well I have been approved

Tue, 03 Apr 2007 08:31:28 +0000

Well I have been approved for the $100000 I applied for so Im quite happy about that! Age wasnt a factor. Thanks for your advice guys

99chris99 replied to the topic Broken Hill? in the forum General Property

Fri, 30 Mar 2007 09:01:13 +0000

I have been to BH before and I do get vibes that it has great potential! I think I just need to look firther into the mining industry down there, and how long it has left!

99chris99 replied to the topic How much can I borrow? in the forum I applied for a pre-approval

Fri, 30 Mar 2007 08:44:40 +0000

I applied for a pre-approval today at Wizard, and the man there seemed quite confident in getting me the loan I am after…I guess I will have to wait until Wednesday to find out!

99chris99 replied to the topic How much can I borrow? in the forum Finance

Fri, 23 Mar 2007 11:04:14 +0000

Thats great news! I was worried that id have to wait a few years. After reading Steves books I am motivated and cant wait to begin investing!

99chris99 replied to the topic Areas under 100K in the forum No Subject

Fri, 23 Mar 2007 10:54:16 +0000

of course. Stay out of the major cities. Maybe try looking for some larger country towns. I am from NSW, and I have come across properties that have great returns and are under $100,000 in many different areas, including Broken Hill, Dubbo, Bathurst and Armidale. I dont think there is any particular area that is good to invest. You just have to…[Read more]

99chris99 replied to the topic Water in the forum No Subject

Fri, 23 Mar 2007 10:44:13 +0000

thats correct. I found out the other way, when I was the tenant. I was always under the impression that landlord always paid for water, until i was given a water bill and was told that because each unit had its own meter we paid our own water.
So yes, its true!

99chris99 replied to the topic How much can I borrow? in the forum Finance

Fri, 23 Mar 2007 09:36:07 +0000

Thats alright because I have 20% anyway. Yes, its in regional NSW, in a fair sized town. Will my age be a factor though?

99chris99 replied to the topic sourcing property while travelling in the forum Overseas Deals

Fri, 23 Mar 2007 09:31:13 +0000

All you can do is research my friend. You will need a fair knowledge of not just the country of choice, but the area within it. There will also be different taxes and regulations, and you may need a fair knowledge of the economy. On prices always rising however, that is certainly false. Make sure you research past performances on capital growth in…[Read more]

99chris99 replied to the topic Areas under 100K in the forum General Property

Thu, 22 Mar 2007 09:22:22 +0000

You may find that the high land tax in Tasmania makes it difficult to achieve positive cashflow.
However, this does not mean the rest of Australia is not a smart place to invest. As for wages staying the same while house prices are soaring, that is not necessarily a bad thing. It possibly means that with many people driven away from buying due to…[Read more]

99chris99 replied to the topic positive cashflow mortgage...a smart option? in the forum No Subject

Thu, 22 Mar 2007 09:09:44 +0000

I do not want to rely on a property increasing in value, especially as I would be looking in rural areas.
I will continue to look hard for a property that will produce positive cashflow while using a more traditional mortgage option.
Thanks for all your help [thumbsup2]