Total Members: 158,199

bennido

  • bennido replied to the topic Investing in regional Victoria in the forum Creative Investing 16 years, 9 months ago

    I have a number of +ve cashflow properties in regional areas and since I live in Melbourne, all of them are in Victoria. They've all done very well and look after themselves (actually by ppty mgrs) with little or no effort from me. There's even been a little capital growth but not as much as in the cities. But I don't mind as income is what I am…[Read more]

  • bennido replied to the topic Positive Cash Flow Properties in the forum Creative Investing 16 years, 9 months ago

    Though $45K +ve cashflow properties have all but disappeared, there are tons of choices if you are willing to spend $100 – $150K. And you don't even need to be creative about it .. :)

  • bennido replied to the topic Recording expenses in the forum Legal & Accounting 16 years, 9 months ago

    The ATO actually has a very good template that comes with the Tax Pack.

  • bennido replied to the topic Are Trust Necessary? in the forum Legal & Accounting 16 years, 9 months ago

    I have read a lot of property books and you will find the experts can't even agree among themselves if a trust is worthwhile or not ! For example, Margaret Lomas finds it unnecessary while Steve McKnight encourages it.So do your own research and make up your own mind as everyone's situation is different. You may very well find a trust a luxury you…[Read more]

  • bennido replied to the topic queries about deer park in melbourne in the forum Yes, Deer Park is 16 years, 9 months ago

    Yes, Deer Park is historically "lower class". But being sandwiched in between the new "upper class" suburbs like Caroline Springs and Cairnlea, there has been significant improvement in the area – e.g. new buildings and new shops popping in the Deer Park shopping area, redevelopment of parks, etc. So don't write off Deer Park too soon.…[Read more]

  • bennido replied to the topic X Collateralising in the forum Finance 16 years, 9 months ago

    When I started out investing, my 1st 2 IP loans was CC'd with my PPOR. Thankfully, it hasn't caused me any problems and they are still CC'd. But as I haven't needed to sell any of them and they all now have a decent amount of equity, I haven't bothered to refinance them and split them up.Now all my new loans are created as standalone loans, with…[Read more]

  • bennido replied to the topic LVR on a strata-titled unit in a block of 8 units in the forum Finance 16 years, 9 months ago

    Good to know Qld. I once went to Westpac to query on their loan to purchase a block of 4 units for me to subdivide and sell individually. However, they said because it was 4 (i.e. more than 3 units), I needed to come up with 30% deposit. Guess from your post, it indicates there are alternatives available.

  • bennido replied to the topic Retirement homes in the forum Help Needed! 16 years, 9 months ago

    They're generally not very popular because of limited capital growth potential. However, like Tyson said, they can be very good earners and will provide a good income base for you to expand your portfolio. Its a similar case with service apartments and the like.

  • bennido replied to the topic Should I sell or hang in there ??? in the forum Help Needed! 16 years, 9 months ago

    Well, firstly, I would never buy a property unless I am earning income from it from day 1 (i.e. positive gearing strategy). That's the key principle that I strictly adhere to and its worked well for me.However, it looks like you are following a negative gearing strategy with the hope of making money through capital gains. If that is indeed your…[Read more]

  • bennido replied to the topic Bricks & mortar vs Timber Weatherboard in the forum Help Needed! 16 years, 9 months ago

    As an investment, I prefer brick homes. But as a home, I prefer the look and feel of timber homes.

  • bennido replied to the topic Cashflow+ property for sale!! in the forum The problem with these sort 16 years, 9 months ago

    The problem with these sort of deals is that after the lease back period, the actual market rent is way lower than $535 pw. I have a number of friends who love display home deals, but its pretty much betting that they can sell it after the leaseback is up and make some capital gains. Or at least not to lose any money. This way, the rental income…[Read more]

  • bennido replied to the topic Sharing Tips- in the forum General Property 16 years, 9 months ago

    Not all countries have the same interest rates. There are many countries with much lower interest rates than Australia.If you can get access to funds from outside Australia at a lower interest rate, it can make a significant impact on your returns.

  • bennido replied to the topic Answers to “Where to Find CF+ Deals” in the forum mathew aiken wrote:hi adam i 16 years, 9 months ago

    mathew aiken wrote:
    hi adam i was wondering if the 11 second solution can still work in this day and age? i have been looking for properties and have found a few that i liked but when i did the 11 second solution it seems that it doesnt work out to be positively geared. for example a house selling for 169000 making a potential 260 dollars a week…[Read more]

  • bennido replied to the topic Answers to “Where to Find CF+ Deals” in the forum I noticed in the past year 16 years, 9 months ago

    I noticed in the past year or two, it has been getting easier to find +ve geared properties with little or no work needed to make them so. This is especially true in the regional areas.Most probably because of the drought people are panicking and selling their properties. So the prices has levelled off or even dropped, while rent has remained…[Read more]

  • bennido replied to the topic underground level? in the forum General Property 16 years, 9 months ago

    I see many houses like that in the new estates .. but whatever you do don't build an underground garage .. VERY BAD feng shui .. :D

  • bennido replied to the topic Henley Properties and Hotondo Homes in the forum General Property 16 years, 9 months ago

    I have a PPOR in VIC built by Henly about 4-5 yrs ago .. never had a problem and everything is still fine … but here's some advice though, it is the foreman that Henly assigns to your project which is the key .. he's the guy who manages all the subcontractors and the person who you talk to about anything to do with construction … the 1st…[Read more]

  • bennido replied to the topic Bought a dud in the forum Help Needed! 16 years, 9 months ago

    All good suggestions above but if all else fails, don't be afraid to SELL … Part of good investing is to know when to let go, as well as when to buy … Tough luck mate !

  • NEVER !!!! … but that's just my opinion .. :D

  • bennido replied to the topic Average property management percentage in the forum Help Needed! 16 years, 9 months ago

    I get about 6% – 7% (in VIC).I would shop around if you get quoted more than that though.

  • bennido replied to the topic Finding Postively Geared Properties….. in the forum Help Needed! 16 years, 9 months ago

    Hi Tim,Congrats on your first post. If you read Steve's follow up books, you'll see that even Steve admits finding +ve geared solutions are harder and harder. That is, without doing some sort of "creating".But if you look hard enough, you will find many +ve geared properties right from purchase. Admittedly, most of these are in rural areas (like w…[Read more]

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