Just a thought, I bought my 4 bedroom house in 2002. I owe $60 000 and I remorgaged at an apprasial of $200 000 in April. I own a two bedroom in Coober Pedy outright and have $70 000 equity left.
If I reno my house it should be worth 200-220 a week in rent with repayments being $413 a month.
Is it true that I can rent it out and pay…[Read more]
I own an IP in Coober Pedy. It cost me $45 000 and it makes $100 pw giving me good returns.
It is near Roxby Downs which is a mining area. My tenents have lived there since June 1994.
So I have great tenants, great returns and a great PM. Their fees are a little high 11% but there’s not much you can do about that in a remote…[Read more]
I can’t make the 14th sorry but it sounds like Kurra is on top of the situation.
Hope you have a good introduction, and post all about it and what you guys have come up with after the first meeting.
I’ve been offline for a few days but I’ve just replied to your PM’s.
One guy has told me we can get a huge online airfare discount if we book 10 group seats or more so lets hope the interest stays high.
There are a few Sydneysiders who want to start meeting so if there is anyone living in West Sydney around Liverpool and you would like…[Read more]
I’ve just read the latest messages. I personally think a monthly meetings is a great idea.
I live in Goulburn and have just started attending a Canberra group but it would be good if we could form a US minded group around the Sydney to Goulburn area.
Bekstar, with a brother as a lawyer and a property investor in the US I can see you…[Read more]
I was looking at buying two mobile homes in Roxby Downs, near Coober Pedy but I had a change of heart after some due diligence i undertook.
The property would make a before tax profit of $60 per week but when it’s untenanted the site fees for the park alone are $100-110 per week.
Also you can’t get a home loan for a mobile which…[Read more]
http://www.somersoft.com/forums/showthread.php?t=18101 This link you have already been given will show that it’s virtually impossible to get finance in the US so I hope you have a lot of equity.
Terry got it in one. Never discuss it with the tenant as naturally no one ever wants to pay more money out of their pocket than what they have to.
If this is the first time you’re putting the rent up in two years then they should realise when they get the letter that they’ve had it pretty easy anyway.
Originally posted by foundation:
That’s $3,000 per fortnight in repayments! What happens in the event of a vacancy? If interest raties rise by 1%, where are they going to get the additional $390 per fortnight to keep their heads above water?
foundation, what are raties???
I know what rates are but what are raties???
I would buy the property now as if you buy +ve CF It will start to make money now not in two years time when you return.
There are many people on this forum who own property in New Zealand, the US, Uk etc, so you don’t need to be in the country to manage your property if you have a good PM.
If you buy now you should know how reliable…[Read more]
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