Total Members: 158,522

dare_to_dream

  • dare_to_dream replied to the topic IS THE GREAT AUSTRALIAN DREAM FINALLY DEAD!!!!!!!! in the forum Help Needed! 17 years, 6 months ago

    Hi guys,

    I’m 21 and just finished Uni, i’m on about $40k p.a. as well and have a $20k HECS debt. Now you are telling him that he can still buy a $300k house. I’m sorry, but that simply is not the case. I’m not a negative person but I will point out some interesting facts:

    Stamp Duty on $300,000 approx $13,000. Now if you add in all mortgage…[Read more]

  • dare_to_dream replied to the topic Interest Only V’s Principle Loan? in the forum Help Needed! 17 years, 6 months ago

    My parents just took out an interest only loan and are aiming to have their property paid off in the next two years? For a brand new 300,000 house they only have to find $170 p/w extra. They have a PAYG tax and rent is guaranteed at $200 p/w for 5 years and the remained is $170 p/w. Which means there house would need to appreciated at ~3% per year…[Read more]

  • dare_to_dream replied to the topic I have a problem in the forum Help Needed! 17 years, 6 months ago

    Hi,

    I’m a bit confused as well… Is the property rented out at the moment? Your not clear, because the tenant should have first contacted the landlord first not you (unless it is privately rented).

    Anyway, it sounds structural to me and i’m a structural engineer and have done a few reports that sound very similar to this. Especially in regional…[Read more]

  • dare_to_dream replied to the topic PLEASE HELP High Equity, low $ flow for retirement in the forum No Subject 17 years, 6 months ago

    Hi guys,

    Terryw I recieved Steve McKnights chapter in the post last week and yes he does say that you shouldn’t withdraw money from your loan for items that depreciate.

    However, the single chapter did somewhat annoy me because he talks about the property making money if the gross rental return is larger then the interest paid on the property.…[Read more]

  • dare_to_dream replied to the topic A bit confused on CF in the forum Help Needed! 17 years, 6 months ago

    I don’t know about wrap deals…. Yes, you are making money each month. But at the end of the day, you are making the property available to buy by the tenant. Doesn’t this kind of defeat the purpose of being CF+ if you have to sell the property in 3yrs time anyway if the tenant wants???? What makes a WRAP deal so good????

    Cheers

    Paul[suave2]

  • dare_to_dream replied to the topic Home or IP to begin? in the forum Help Needed! 17 years, 6 months ago

    HI foundation,

    In this case I agree with you. I think Marc is dreaming a lot if he thinks he can still buy a property for $60,000 and get a return of $150pw and still get a 200% increase in capital growth over 20 years.

    Also, I prefer you idea of buying an investment property first. This way, the government and the tenant is atleast helping me…[Read more]

  • dare_to_dream replied to the topic Home or IP to begin? in the forum Help Needed! 17 years, 7 months ago

    Hi guys,

    Foundation you seem to be very ridiculing of Simon quite unnecessary. He is simply giving him his opinion based on his personal experience. And in an unpredictable market the only thing you can do is base your opinions or your experience and previous history.

    If you have a different opinion than you can tell the person that but that…[Read more]

  • dare_to_dream replied to the topic Self management of IP in the forum Help Needed! 17 years, 7 months ago

    Hi d_robb21,

    Can I ask how you are getting 5-6% management fees? Have you got a lot of properties or something because my understanding is that management fees are around 8-10% ?????

    Thanks
    Paul[suave2]

  • dare_to_dream replied to the topic Getting approval in the forum Finance 17 years, 7 months ago

    Hi,

    Thanks for your responses. It sounds like its not worth the hassle of pre-approvals until i’m serious about submitting offers. Does that mean that pre-approvals specify the bank/institue that the approval has been given? I will assume so unless otherwise told.

    I suppose its hard to crunch numbers the first time for a property when I don’t…[Read more]

  • dare_to_dream replied to the topic WHO’S GOING TO Martin Ayle SEMINAR OCT 06 ADELAIDE in the forum General Property 17 years, 7 months ago

    Hi Celeste,

    Can you tell me when his seminar is on, where it is and how much it is to go too? I will be in Adelaide from 20th October til the 7th November.

    Sounds like it might be worth going to because I live in rural Victoria so I don’t get to the cities very often.

    Regards
    Paul

  • dare_to_dream replied to the topic ADELAIDE in the forum Help Needed! 17 years, 7 months ago

    Hi,

    can I ask, does multi-tenancy accomodations work in an area of Adelaide or is it work particularly well in just one of two suburbs? Also, does the property need to be 3BRs or more to do this?

    Thanks
    Paul[suave2]

  • dare_to_dream replied to the topic Adelaide suburbs in the forum Help Needed! 17 years, 7 months ago

    Hi Xenia,

    Is the creative way your talking lease options? Or are their other ways of creating cashflow positive properties without giving the tenant the option of buying your property at a later date?

    Regards
    Paul[suave2]

  • dare_to_dream replied to the topic Adelaide’s Best? in the forum Help Needed! 17 years, 7 months ago

    Hi Xenia,

    You say their have been no cashflow positive properties within a 10km radius of Adelaide in the last 10years, what about investment units/hotel rooms in inner city Adelaide? Positive Cashflow Properties website has investment properties (fully furnished) with rental guarantees returning up to 10%??

    What do you think of these investment…[Read more]

  • dare_to_dream replied to the topic Research & Feasability Studies in the forum Help Needed! 17 years, 7 months ago

    Hi,

    I noticed all these feasability studies are for large developments. Is their any similar design spreadsheets that can be used for single residential dwellings?

    Also, how do people go about researching an area and identifying areas that are likely to have good capital growth? Is it just a matter of talking to real estate agants in the area,…[Read more]

  • dare_to_dream replied to the topic Buying in a Complex – Pros + Cons in the forum Help Needed! 17 years, 8 months ago

    Hi Phorsha,

    I do not personally own an IP in complex’s, however I did a bit of research into properties in complex’s in Brisbane and also Cairns, because of the high gross returns. However, like you said body corporate, maintenance (e.g. grass, pool, spa’s etc..) make the property negative or neutrally geared!

    Anyway, I had a friend buy an IP in…[Read more]

  • dare_to_dream replied to the topic Cashflow Positive or Capital Growth? in the forum Help Needed! 17 years, 8 months ago

    Hi,

    Thanks for your response. What do you mean when you say get a loan that allows you to pay some of the interest and capitalize the rest?

    Also, I read a news article about 3 months ago that talked about someone trying to patent an idea that allows you to just pay off your principal only and once you’ve paid that off you can pay that remaining…[Read more]

  • dare_to_dream replied to the topic Trust, company or yourself? in the forum Legal & Accounting 17 years, 8 months ago

    hi,

    Who should I talk to if I wanted to set up a trust for IP’s? Also, can anyone list the advantages of a trust (as opposed to in your name)? I’m sorry, but i’m not really sure how trusts work and how they are set up.

    What would you do if you are buying a property, taking your FHOG, but intend on moving out in 12months and renting it out? Do…[Read more]

  • dare_to_dream replied to the topic Where to start at age 41? in the forum Help Needed! 17 years, 8 months ago

    Hi Kum Yin,

    I’ve looked at thousands of properties on realestate.com.au all across Australia. In Mildura, where I live, i’ve looked at hundreds of properties. Unfortunately, i’m limited to Mildura if I want to live in it for 12months and be able to take the FHOG. I’m slightly concerned because the vacancy rate in Mildura is around 6 %. There are…[Read more]

  • dare_to_dream replied to the topic Cashflow Positive or Capital Growth? in the forum Help Needed! 17 years, 8 months ago

    Hi Todd,

    Thanks for your reply. I’ve checked out the website and it appears very interesting. I will have to read through the reports in more depth when i’m not at work. Although, the information (and tables) are very generalised. I also noticed that all the report is isolated the capital cities and large regional towns in Qld and NSW. Do you…[Read more]

  • dare_to_dream replied to the topic Where to start at age 41? in the forum Help Needed! 17 years, 8 months ago

    Hi,
    I’m only 22 but have $20,000 saved up for a property. I plan to live in it for 12months to get FFOG and then turn it into an investment property and pay parents board. I’m looking around $120,000- $150,000. I earn ~$1200 per fortnight and save $700-$800 per fortnight.
    How much would I need to save up before I can buy a property with the…[Read more]

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