[collieParticipant@collieJoin Date: 2004Post Count: 60]

March 9, 2010 - 7:05 am

yes, we are only just getting proactive, very late obviously. The developer has been paying for a lot of advertising already and we just let things slide over christmas, stupid thing to do i know, anyway thanks for everyone’s replies, a lesson perhaps for people in what NOT to do

[collieParticipant@collieJoin Date: 2004Post Count: 60]

March 8, 2010 - 9:02 am

we considered the retirement unit as it is positive cashflow (with a tenant) We have advertised the unit for 3 weeks as a rental with only 2 responses and 1 inspection.

Just a Crappy decision at the end of the day, have to learn the lesson and move on….

[collieParticipant@collieJoin Date: 2004Post Count: 60]

January 21, 2009 - 4:32 am

We have recently settled on a strata titled retirement village unit in wangaratta VIC. The 1 br unit cost us $109,000 we got a 80% loan through Widebay Australia, a credit union based in QLD. We were without a tenant for 2.5 months as this was a new development, we now have a tenant paying 1050 p/mth, a good return, after costs we are ahead $30 per week. The growth i don’t expect to be much, but it is good for a passive investor like myself. We will see some growth in the future but not as good as a standard residential, obviously.

We are a 1 income family with 3 kids and earn about 40k per year, this is a 2nd investment property, cashflow is highly important to us because we cannot afford to hold a property that is going to cost us a heap of money, this is a good option for us at present.

happy investing

[collieParticipant@collieJoin Date: 2004Post Count: 60]

August 29, 2005 - 5:28 am

Hi, there are many ways i’m sure to sell your house. Advertise in local paper, trading mail, call local house removal people and see if they are interested as some of them buy and then transport to their stockyard and then sell themselves.
Goodluck….

collie

[collieParticipant@collieJoin Date: 2004Post Count: 60]

August 10, 2005 - 5:15 am

It is a large 5 bedroom house.
How would I find out wether I can use exisitng property as security? Is it best to just get a broker on the case?

collie

[collieParticipant@collieJoin Date: 2004Post Count: 60]

August 10, 2005 - 3:45 am

Don’t really have nay cash to put in, as we need to keep a bit for furnishing the place.
Thanks for your reply Terry.
Regards,

collie

[collieParticipant@collieJoin Date: 2004Post Count: 60]

June 16, 2005 - 7:01 am

Never heard of the place but great to see I have one named after me 9or my nickname anyway!!)

Thanks all

collie

[collieParticipant@collieJoin Date: 2004Post Count: 60]

June 16, 2005 - 1:35 am

Thanks Terry for your reply. Much appreciated.

collie

[collieParticipant@collieJoin Date: 2004Post Count: 60]

May 25, 2005 - 1:37 am

Hi,
My husband and I have just settled on our first property and used a buyers agent who cost less than $6000 alot less, found a property for us in under a month which is positive cash flow by about $45 per week, she frequents these message boards at times and her forum name is scotty3. Maybe you could PM her if you are interested?
Hope this is helpful we founf she really helped us to stop procrastinating and just do it!!
Given us the confidence to do our next deal too…
Regards, Colette

collie

[collieParticipant@collieJoin Date: 2004Post Count: 60]

May 15, 2005 - 5:39 am

Hi Robert and thanks for your reply.
We have about $14,500 equity in our new property and that is about it!!
Also have family who may be willing to go guarentor with a house worth about $300,000
Anyone else have any comments on the developing side?
Thanks Again

collie

[collieParticipant@collieJoin Date: 2004Post Count: 60]

May 15, 2005 - 4:26 am

Thanks Guys for your replys, I think we are going to have to do some in depth research cause alot of this trust stuff doesn’t make alot of sense at the moment!!
Anyway onward and upward!!!!!!!!
Research, Research and more research!!!!

collie

[collieParticipant@collieJoin Date: 2004Post Count: 60]

May 14, 2005 - 3:34 am

Hi Kay,
We didn’t need a 30% deposit as unit is classed as a residential property. We actually loaned 90% purcahse price. Our buyers agent only cost us $3000 which I think was a bargain becasue has really helped us to overcome our fear and procrastination.
Hotel group pays all cost as part of the lease… they lease unit to tourists as fuuly furnished unit @ $120 per night, so they are making money and so are we!!! A win/win solution I rekon.
Yes we took our buyers fee from net return, still looks good!!!
Thanks for questions and input..

collie

[collieParticipant@collieJoin Date: 2004Post Count: 60]

May 14, 2005 - 3:11 am

Thanks guys for your encouragement!!!
Love to catch up Padmaa with updates of your deals too!!
PM me and we’ll arrange a time to get together.
Regards,

collie

[collieParticipant@collieJoin Date: 2004Post Count: 60]

April 26, 2005 - 8:48 am

Hi, anytime is a good time to invest as long as you have stratergies in place to protect yourself and certainly I would be having a bit of a buffer in place for when interest rates rise.
Goodluck!

collie

[collieParticipant@collieJoin Date: 2004Post Count: 60]

April 26, 2005 - 8:44 am

i’d use it for a deposit for another property and definately put it in a offset account while looking for another property as Terry suggested.
Good luck and good on you for being in such a financial position at your age.

collie

[collieParticipant@collieJoin Date: 2004Post Count: 60]

April 26, 2005 - 8:39 am

I’ll back up the Jaffasoft recommendation it is very hepful also another you can try is http://www.yourmortgage.com.au go to calculators and then to link, can I afford an investment property.
Goodluck.

collie

[collieParticipant@collieJoin Date: 2004Post Count: 60]

April 25, 2005 - 11:50 am

Before buying ask yourself the question “Why am i buying property?” “What am I hoping to gain from this?” For example if you want to buy and hold for the long term and are relying on CG to bring you profit your stratergy will be different than if you were wanting to biy a cashflow property that makes money from day one, and then different agian if you wanted to do a buy-reno-sell etc, etc. So the big question is why?
Work out how you are going to profit before you buy the deal…
Have fun and good luck!!!

collie

[collieParticipant@collieJoin Date: 2004Post Count: 60]

April 25, 2005 - 11:44 am

No you are not eligible for the FHOG if you are living with your partner and they have owned property before. Look at ato.gov.au and follow links to FHOG info or go to http://www.osr.nsw.gov.au if you live in NSW.
In answer to first question lots of finance and banks sites have calculators for costs also jaffasoft.com does too.
Have Fun!!

collie

[collieParticipant@collieJoin Date: 2004Post Count: 60]

April 25, 2005 - 11:39 am

Most bank sites have there own calculators on there loan info pages, also in the links page on this site there is a few links to sites with calculators on them.
Hope that is helpful,
Cheers,

collie

[collieParticipant@collieJoin Date: 2004Post Count: 60]

April 11, 2005 - 8:02 am

Actually you can still access FHOG if you buy an investment property. Look on the ATO website the rules have changed, as long as you do not live in the property you can access the grant when you go to buy your new home. Alas you do miss out on the stamp duty concesions though……………
Mu hubby and I put off buying property for years because we hadn’t bought our own home yet, still haven’t, but decided to bite the bullet and start investing as we pay minimal rent and are happy with where we are renting. After doing research discovered that we will still be eligible for FHOG after all!!! This rule changed in 2004 I think.
Have fun all

collie