PropertyInvesting.com | DerekLangan | Activity https://www.propertyinvesting.com/members/dereklangan/activity/ Activity feed for DerekLangan. Wed, 15 Apr 2026 03:30:41 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 dd4a3b5b1e4dbae49c6534640af4bf96 DerekLangan started the topic First investment: build or buy? Need help with options in the forum Help Needed! https://www.propertyinvesting.com/topic/5009514-first-investment-build-or-buy-need-help-with-options/ Thu, 25 Jun 2015 23:43:10 +0000 Myself and 2 other family members are in the process of getting a loan approved for our first investment. We have been looking at building a new home in a new estate close by and I was wondering if this would be a smart option? I have been tossing up whether to build from scratch or buy an older house close to the area we are looking to invest in…[Read more]

]]> c2fb09f8792b391186a46c9e3037bc68 DerekLangan replied to the topic Looking for advice to set up a trust account in the forum Help Needed! https://www.propertyinvesting.com/topic/5009243-looking-for-advice-to-set-up-a-trust-account/#post-5009493 Thu, 25 Jun 2015 08:18:06 +0000 Thanks Terry I obviously have no idea of what I am talking about and have totally misunderstood the information I was given. I guess what I wanted to find out is are there any benefits to purchasing with a trust when I start out or would it be something I look into later down the track?

]]> 38346c3b0cf0c9a1d6130c238807e475 DerekLangan replied to the topic Looking for advice to set up a trust account in the forum Help Needed! https://www.propertyinvesting.com/topic/5009243-looking-for-advice-to-set-up-a-trust-account/#post-5009317 Thu, 25 Jun 2015 00:44:54 +0000 Hi Terry thanks for your reply. We look as though we are going to take a joint personal loan in order to be able to claim any tax benefits that will apply to this investment property. What I wanted to know is, I was told last year at a property seminar that if you set up a trust and then use that trust as the director of a seperate trust which…[Read more]

]]> 1c1c920504ac867b618365eb31a65485 DerekLangan started the topic Looking for advice to set up a trust account in the forum Help Needed! https://www.propertyinvesting.com/topic/5009243-looking-for-advice-to-set-up-a-trust-account/ Tue, 23 Jun 2015 02:32:40 +0000 I am looking to set up a trust account with some family members in order to combine our loan capacity and I would like to know if anyone can help answer some questions in order to find out the best way to set up the trust and what benefits or drawbacks this may have

]]> 9a465741a1ec1ca4f4e3ec12beb4d43c DerekLangan replied to the topic Looking for Accountants in Victoria who specialise in property and business in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4996734-looking-for-accountants-in-victoria-who-specialise-in-property-and-business/#post-4996802 Tue, 18 Nov 2014 22:00:30 +0000 Jamie, thank you once again for your assistance. I checked out their website and it looks exactly like the type of firm I’m after. I also can see that your a mortgage broker… I was wondering what the process would be in order for me and my partner to have a consultation with you?

]]> 2a947353a6d05a738c5cff22d0d2ab09 DerekLangan replied to the topic Looking for Accountants in Victoria who specialise in property and business in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4996734-looking-for-accountants-in-victoria-who-specialise-in-property-and-business/#post-4996793 Tue, 18 Nov 2014 16:05:39 +0000 Thanks Jamie, is house of wealth a group? Well obviously they must be but is there someone specifically to ask for? Also how do I do a search? I’m guessing this topic has been raised in the past but I couldn’t seem to find an earlier post.

]]> bdc948ded896e35a7c0097e64c4354bf DerekLangan started the topic Looking for Accountants in Victoria who specialise in property and business in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4996734-looking-for-accountants-in-victoria-who-specialise-in-property-and-business/ Mon, 17 Nov 2014 23:51:15 +0000 Hi everyone, I have started this post in hopes of finding some contacts. I am looking at taking over a well established family business next year and also I want to start investing in some properties as soon as possible. I was hoping to find an Accountant who would specialise in helping me reduce my business costs and be able to help me structure…[Read more]

]]> 5c91fffbe8000f2055eeb1b9f3dbcf07 DerekLangan started the topic How do I get the best result out of 2 owned properties in the forum Help Needed! https://www.propertyinvesting.com/topic/4996046-how-do-i-get-the-best-result-out-of-2-owned-properties/ Tue, 28 Oct 2014 06:29:33 +0000 Hi all, my mother in law currently owns 2 properties which she would like some advice on. She has an investment property in Griffith NSW which has just become available to rent as her son is moving out and she is currently living in a property which she has recently renovated in Melton VIC. Due to unforeseen circumstances she is no longer able to…[Read more]

]]> 8aeae90f0899a509d6731aee30edbfcb DerekLangan replied to the topic Renovations: Cheapest way to add value to your property in the forum Help Needed! https://www.propertyinvesting.com/topic/4995947-renovations-cheapest-way-to-add-value-to-your-property/#post-4996039 Tue, 28 Oct 2014 06:11:55 +0000 Thanks everyone, very helpful information. If anyone else has any other suggestions please feel free to message me or add to the post.

]]> 32bf2a5aeebf28b50a4539dd74f7267c DerekLangan replied to the topic Renovations: Cheapest way to add value to your property in the forum Help Needed! https://www.propertyinvesting.com/topic/4995947-renovations-cheapest-way-to-add-value-to-your-property/#post-4995976 Mon, 27 Oct 2014 10:23:25 +0000 The spread sheets you use for your renovation budgeting… Do you happen to have a template? Be good to have a copy or something to go off. I’m just wondering if you go out first to get prices on carpets and blinds and paint etc. before you purchase the property or if you have a way of knowing roughly how much it would cost to do and then look for…[Read more]

]]> f59ce7748e1916a3bd6c21d053d45063 DerekLangan replied to the topic Renovations: Cheapest way to add value to your property in the forum Help Needed! https://www.propertyinvesting.com/topic/4995947-renovations-cheapest-way-to-add-value-to-your-property/#post-4995967 Mon, 27 Oct 2014 06:38:04 +0000 Thanks for the replies. Good to know you can get paint carpet and blinds for a 3 bedroom under $2000. Was that DIY as I couldn’t imagine you could pay someone to do it all for that price? Also before you purchased your property do you get quotes from builders or evaluators? If not how do you estimate prices for the changes you want to make in…[Read more]

]]> 11a798a636b4c0a84c44b0fda91fd70c DerekLangan started the topic Renovations: Cheapest way to add value to your property in the forum Help Needed! https://www.propertyinvesting.com/topic/4995947-renovations-cheapest-way-to-add-value-to-your-property/ Sun, 26 Oct 2014 00:39:47 +0000 Hi everybody, just about to start investing into some positive cash flow properties that I have found and I was wondering if I could get some advice off some experienced investors as to what would be the cheapest way to add perceived value to a property in order to gain equity. I’m looking to get some rough cost examples and an idea of how much I…[Read more]

]]> 910a2bebb77ca9e63572523e4477df69 DerekLangan replied to the topic Looking for a good mortgage broker and info on home loans in the forum Finance https://www.propertyinvesting.com/topic/4410776-looking-for-a-good-mortgage-broker-and-info-on-home-loans/#post-4699720 Tue, 04 Mar 2014 00:08:17 +0000 Cheers Terry, I know how frustrating it can be in commission based jobs as I have worked in sales for 10 years but I don't plan on wasting anyones time let alone my own. I just want to make an informed decision from speaking to a few people before I decide who to go ahead with. I'm sure by the sounds of things it will end up being Jamie but I…[Read more]

]]> eb52ed2ce3539892d7899a740ded2b2a DerekLangan replied to the topic Looking for a good mortgage broker and info on home loans in the forum Finance https://www.propertyinvesting.com/topic/4410776-looking-for-a-good-mortgage-broker-and-info-on-home-loans/#post-4699718 Mon, 03 Mar 2014 23:40:14 +0000 Thanks everyone for backing up Jamie. Terry I really didn't need to be told not to waste his time…. I think as a potential investor I am able to ask questions and speak to a few brokers before deciding on who to go through, how else would I learn anything? I worked as a travel consultant for over 3 years and do you think I expected everyone to…[Read more]

]]> a9bc6abe46864bda26f68ac0621c8abd DerekLangan replied to the topic Looking for a good mortgage broker and info on home loans in the forum Finance https://www.propertyinvesting.com/topic/4410776-looking-for-a-good-mortgage-broker-and-info-on-home-loans/#post-4699713 Mon, 03 Mar 2014 05:02:54 +0000 Excellent, I didn't realize Jamie was the one you were talking about from earlier in the post but thanks for the referral. I will definitely talk to Jamie before I go ahead with somone else.  

]]> d236cba8c7dcf50afee81c7fed5ad487 DerekLangan replied to the topic Looking for a good mortgage broker and info on home loans in the forum Finance https://www.propertyinvesting.com/topic/4410776-looking-for-a-good-mortgage-broker-and-info-on-home-loans/#post-4699711 Mon, 03 Mar 2014 03:52:01 +0000 Why would recommend Jamie?  Just wondering if it would be worth speaking to someone long distance or trying to go locally

]]> 8897e22c77e1bc1c417a383a3a1c0bc7 DerekLangan replied to the topic Looking for a good mortgage broker and info on home loans in the forum Finance https://www.propertyinvesting.com/topic/4410776-looking-for-a-good-mortgage-broker-and-info-on-home-loans/#post-4699710 Mon, 03 Mar 2014 03:42:54 +0000 Cheers Jamie and Sundance. Any more information regarding these brokers and why you would suggest them?

]]> 8641a5322d625b44b0d66024592ff1db DerekLangan replied to the topic Looking for a good mortgage broker and info on home loans in the forum Finance https://www.propertyinvesting.com/topic/4410776-looking-for-a-good-mortgage-broker-and-info-on-home-loans/#post-4699707 Mon, 03 Mar 2014 03:13:10 +0000 Sorry forgot to post where I'm from…. I would preferably like someone close to Lorne in Victoria but I would also be happy with anyone from Melbourne as I regularly spend a lot of time between both places

]]> db866757cbbe516a218e293a23bfc80b DerekLangan replied to the topic 1st time investor with $10,000 deposit. Where do I start and what do I look for? in the forum Help Needed! https://www.propertyinvesting.com/topic/4410767-1st-time-investor-with-10000-deposit-where-do-i-start-and-what-do-i-look-for/#post-4699637 Mon, 03 Mar 2014 02:44:34 +0000 Hey new guy thanks for your input. It makes my decision seem a lot clearer now that I take that into account. I appreciate your help and I might start up a new thread to help me with the intil borrowing process

]]> 5dd6c8b797426eab024ee337a1dbe2fb DerekLangan replied to the topic 1st time investor with $10,000 deposit. Where do I start and what do I look for? in the forum Help Needed! https://www.propertyinvesting.com/topic/4410767-1st-time-investor-with-10000-deposit-where-do-i-start-and-what-do-i-look-for/#post-4699634 Fri, 28 Feb 2014 06:21:16 +0000 Cheers Michael, might seem like basic info but for me its really valuable. So what do you suggest in this scenario? Would you save more money and try to reach the 20% mark and look for a similar deal later down the track. Because I also didn't take into account the loan being approved because 95% of the money is being loaned.

]]> 24ed7400c415bc63c9bd29b2c5b83ce9 DerekLangan replied to the topic 1st time investor with $10,000 deposit. Where do I start and what do I look for? in the forum Thanks Michael, your very https://www.propertyinvesting.com/topic/4410767-1st-time-investor-with-10000-deposit-where-do-i-start-and-what-do-i-look-for/#post-4699632 Fri, 28 Feb 2014 05:58:12 +0000 Thanks Michael, your very helpful. I was wondering can you give me an honest opinion on this particular scenario. Say if renovations come to roughly $10k to increase the market value and I leave a bit of extra money to buffer so all together it may cost me $25K including stamp duty and LMI etc. Do you think it would be better to take the loan out…[Read more]

]]> 027f4bbcdee9a6101daf844506d36864 DerekLangan replied to the topic 1st time investor with $10,000 deposit. Where do I start and what do I look for? in the forum Help Needed! https://www.propertyinvesting.com/topic/4410767-1st-time-investor-with-10000-deposit-where-do-i-start-and-what-do-i-look-for/#post-4699630 Fri, 28 Feb 2014 05:39:22 +0000 do you think it would be worth paying a professional to give me there exact opinion on cost to renovate, or is there another way to evaluate the property to find out how much needs to be spent?

]]> b085b382a96da92588dad9448f15482e DerekLangan replied to the topic 1st time investor with $10,000 deposit. Where do I start and what do I look for? in the forum Well I was thinking after a https://www.propertyinvesting.com/topic/4410767-1st-time-investor-with-10000-deposit-where-do-i-start-and-what-do-i-look-for/#post-4699627 Fri, 28 Feb 2014 05:22:13 +0000 Well I was thinking after a year of doing some small renovations to bring the place up closer to the median price in that particular area which is around $220K and then getting it re-evaluated to loan off the equity and invest in a more expensive property. Would you suggest this to still be a bad idea?

]]> 69f794ace48e59cfe9498b0c2511ee95 DerekLangan replied to the topic 1st time investor with $10,000 deposit. Where do I start and what do I look for? in the forum Help Needed! https://www.propertyinvesting.com/topic/4410767-1st-time-investor-with-10000-deposit-where-do-i-start-and-what-do-i-look-for/#post-4699625 Fri, 28 Feb 2014 05:07:19 +0000 Interesting… Thanks Jamie and thank you Michael for your input in backing up Jamie's comment. What if I found a 3 bedroom property for $150K and it was currently being rented out at $200 per week? Would you say that woud still be a smart investment even with a $10k deposit?

]]> 030a87cbb7644fac5895658831b3b600 DerekLangan replied to the topic 1st time investor with $10,000 deposit. Where do I start and what do I look for? in the forum Help Needed! https://www.propertyinvesting.com/topic/4410767-1st-time-investor-with-10000-deposit-where-do-i-start-and-what-do-i-look-for/#post-4699622 Fri, 28 Feb 2014 03:14:06 +0000 Hi Jamie,

Thanks for the info. would you say that I then need roughly $40K in order to start investing on to avoid the LMI in most cases if I was to aim at a property between $150K-$200K?
If not $10K is still over 5% of $150K plus the mortgage insurance costs. Would you advise to invest in this way or to save more money first ?

]]> 3e7e1a3d7f2788b4ce7ccf1a4edbd1af DerekLangan replied to the topic 1st time investor with $10,000 deposit. Where do I start and what do I look for? in the forum Help Needed! https://www.propertyinvesting.com/topic/4410767-1st-time-investor-with-10000-deposit-where-do-i-start-and-what-do-i-look-for/#post-4699620 Fri, 28 Feb 2014 02:40:06 +0000 Thanks for the advice Benny I appreciate your support. I think going to a group meeting may be very informative and really help me out in the long run. However I'm sure there are opportunities at some level and if anyone else may have any advice I would very much appreciate any feedback.

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