[BettyBlockbusterParticipant@bettyblockbusterJoin Date: 2003Post Count: 46]

September 26, 2003 - 6:18 am

Thanks for the input everyone. Looking forward to returning the favor.
BB[]

[BettyBlockbusterParticipant@bettyblockbusterJoin Date: 2003Post Count: 46]

September 26, 2003 - 5:55 am

Hi Pinky
Being a renter is actually a cheaper option financially. This way you can put your money into investment properties and get some tax advantages which you wouldn’t get if you were owner occupier My thinking is the longer you wait to do something the longer it will take to reach your goals. Saying this though I’m not suggesting you rush out and buy any old thing. Remember to do your due diligence.

When you say you have 50thou invested are you talk about the stock market? I wouldn’t think that the bank would expect you to use that money but more likely to use it as security to take out a loan. Don’t quote me on it. Your probably best advised to speak with a mortgage broker who would know the requirements from different banks.

Happy investing
BB

[BettyBlockbusterParticipant@bettyblockbusterJoin Date: 2003Post Count: 46]

September 26, 2003 - 5:41 am

That depends if the market will tolerate it or not. If your concerned about rate increae why not put a portion or all of your mortgage on a fixed interest rate.
BB

[BettyBlockbusterParticipant@bettyblockbusterJoin Date: 2003Post Count: 46]

September 25, 2003 - 12:44 pm

Hi Sandrar

I fairly certain landlords insurance only covers you when a tenant causes malicious damage to your property, the insurance company then covers your lost rent while repairs are happening.

re your current situation. Yes try a new PM but also you might be able to do something simple and cheap to attract new tenants ie a ceiling fan etc or offering the first weeks rent for free or offering to assist with removal costs or free movie tickets …. the options are endless.

BB[]

[BettyBlockbusterParticipant@bettyblockbusterJoin Date: 2003Post Count: 46]

September 25, 2003 - 12:36 pm

I was speaking with a PM yesterday from LJ Hooker who quoted me 6% of rent plus first weeks rent as a letting fee. They then have authority to spend up to $150 on repairs with out prior approval.

It’s always worth while trying to negotiate with them particularly if you’ll be providing them with ongoing business.

BB

[BettyBlockbusterParticipant@bettyblockbusterJoin Date: 2003Post Count: 46]

September 25, 2003 - 12:18 pm

Hi Jason
I just tried to email you on the address you identified and it bounced back. Would you email me at [email protected]

cheers
BB

[BettyBlockbusterParticipant@bettyblockbusterJoin Date: 2003Post Count: 46]

September 25, 2003 - 12:15 pm

Hi Poor student

I’m way impressed, I live in Canberra as well and haven’t found anything near +ve cash flow in the ACT.

Re your current problem. I remeber when I was first starting and had nothing behind me, I borrowed some of my deposit from my brother and the rest on my credit card. Then worked real hard to pay off the credit card quickly.

Another option you could consider is to do a joint venture with someone just to try and get started.

I know a creative mortgage broker also who might be able to help you on your way. Email next week on [email protected] and I’ll provide you with his details.

BB

[BettyBlockbusterParticipant@bettyblockbusterJoin Date: 2003Post Count: 46]

September 25, 2003 - 12:00 pm

Hi Ya Leviathan

If you want to send me an email after this sunday on [email protected] I’d be happy to have a chat with you about the possibility of providing you finance.

cheers
Betty[]

[BettyBlockbusterParticipant@bettyblockbusterJoin Date: 2003Post Count: 46]

September 25, 2003 - 11:43 am

Hey Daydreamer
I was interested to read your post. I was out at Oakey just three days ago, hoping to find positive cash flow properties (pcp).

Spoke with the two agents. One guy had a totally awful attitude (not sure if he just reserves that for women) and the other guy had nothing near a pcp and was much help at all.

Seems to me you must have some inside contacts.

Betty

[BettyBlockbusterParticipant@bettyblockbusterJoin Date: 2003Post Count: 46]

September 17, 2003 - 7:42 am

I’d speak to a few agents in the area and find out what a property with the same number of bedrooms etc is renting for.
BB

[BettyBlockbusterParticipant@bettyblockbusterJoin Date: 2003Post Count: 46]

September 17, 2003 - 7:39 am

Hi ya
I’d be looking at how I can put the least amount of money in to get the most out of doing the deals.
[]
BB

[BettyBlockbusterParticipant@bettyblockbusterJoin Date: 2003Post Count: 46]

August 19, 2003 - 2:20 am

Hi Ya

Can’t help you out with a template as I think it is best that you speak with a solicitor re this.

With your other questions though re research vs $$. There are a few people around who are doing a 50/50 split on the profits and losses.

If you are going to build up a substaintial portfolio I would suggest you look at setting up a discretionary trust (which costs about $1400 for the initial set up and about $200 for yearly tax appraisal) A trust will protect your asset where as with a company you are left wide open. An accountant can assist with this.

If you haven’t got Steve’s book Wealth Guardian the investment is probably worth while as it covers pro and cons of Company’s, Trusts etc.

Happy investing
BB[8D]

[BettyBlockbusterParticipant@bettyblockbusterJoin Date: 2003Post Count: 46]

August 12, 2003 - 3:01 am

Hi Gary
I would of thought you could transfer the loan from the house to the flat. It is probably worth speaking to a mortgage broker about this.

BB

[BettyBlockbusterParticipant@bettyblockbusterJoin Date: 2003Post Count: 46]

August 8, 2003 - 4:01 am

Hi Kaz

I guess it depends on what you like. Some people prefer shares others like bricks and sticks.

Me I like the later. I’m not a financial consultant, but it might be worthwhile looking for a positive cash flow investment property. But if you are receiving single parents benefit payment from Johnnie then you can’t own a property other then the one your living in.

Consider maybe then whether to buy a house to live in. Lots of factors for you to consider there. Re can you make the repayments, can you afford to buy in the area your currently living in?

It my all feel too hard at times but just keep plugging in. You’ll make progress.

BB[]

[BettyBlockbusterParticipant@bettyblockbusterJoin Date: 2003Post Count: 46]

August 8, 2003 - 3:43 am

Mox 23.

Just a few thoughts to help you get connected.

1. Attend some educational workshops on property, such as the ones Steve and Dave conduct, not the type where the are doing the hard sell.This way you will meet loke minded people.

2. Keep on at this forum and make connections with people living in your area.

3. Get a mentor who knows about property.

4. Network, there is a group called Freestylers their web address is www. Freestylers.com.au they promote network across Oz.

BB

[BettyBlockbusterParticipant@bettyblockbusterJoin Date: 2003Post Count: 46]

August 8, 2003 - 3:37 am

Depends on what you want. Positive cash flow from hi yields, or capital gain to draw on for future investments.

BB

[BettyBlockbusterParticipant@bettyblockbusterJoin Date: 2003Post Count: 46]

August 7, 2003 - 3:29 am

That’s an expensive deadlock for the tenant. I wouldn’t base the rental increase on that alone. For whos benefit is the deadlock, maybe a ceiling fan or security light would be more useful for them.

As an aside, It might be worth seeing if your insurance premium will reduce by adding deadlocks.

Re the rental increase I would suggest you find out what the rents are for similiar properties in your area and go from there. I don’t know where you are but in the ACT we are restricted to a 5% increase on the rent with an ongoing tenant.

Another consideration is how long has your tenant been there. Are they worth holding onto or do you think they will move if you increase the rent and if so will it be difficult finding another tenant.

BB

[BettyBlockbusterParticipant@bettyblockbusterJoin Date: 2003Post Count: 46]

August 4, 2003 - 3:00 am

DNANZ
I have a couple of investment properties and havn’t had anyone ask for a 2 year lease. Most people go for 6 or 12 months. Primarily due to lifestyle and moving around.

The benefit of this for the owner is if there is an upward movement in rents you can adjust your tenants rent upwards as well. With a 2 year lease you are both locked in. Good for the tenant when the cycle is moving upward. Not so good for them if rents are dropping.

BB

[BettyBlockbusterParticipant@bettyblockbusterJoin Date: 2003Post Count: 46]

August 4, 2003 - 2:52 am

Hi Ronulas

My Mortgage Broker who I use in Canberra is Stuart Green his company is Greenlight Mortgage. His contact details are
[email protected]

phone 6259 0204
Mobile 043 977 1707

He is a good guy. Knows his products and has been in the business for years.

Tell him Erutan sent you.

PS Davo’s right about the info you will need to produce.

BB[8D]

[BettyBlockbusterParticipant@bettyblockbusterJoin Date: 2003Post Count: 46]

July 29, 2003 - 5:56 am

I’ve just had a quantity surveyor do a depreciation schedule for me in Canberra. He charged $385. Seems things are a bit more expensive in your neck of the woods, NewTo PI.

BB