Total Members: 158,522

equityking

  • equityking replied to the topic SMH Article on Wrapper in the forum Creative Investing 19 years, 5 months ago

    So if I buy a home with a mortgage, lose my job and my wife gets sick, the bank will be understanding and not worry about it?

    People who eneter into a wrap deal understand the contract and agree to it. If they don’t breach it there is no problems. How is this so different to getting a mortgage through a bank?

    I’m sure if the “approved” agencies…[Read more]

  • equityking replied to the topic Deposit Bond Dilemma in the forum Help Needed! 19 years, 5 months ago

    I’d be extremely unhappy with my solicitor

  • equityking replied to the topic wraps cashflow in the forum Creative Investing 19 years, 6 months ago

    In my Opinion it needs to be at least a 2.2% split

  • equityking replied to the topic Investing with Options in the forum No Subject 19 years, 7 months ago

    Richard,

    In my experience options are normally 5% of the purchase price. How did you secure the price on an $800,000 property for a measly $1000?

    How long was the option valid for?

    Cheers,

    Jordan

  • equityking replied to the topic Buy or Rent? (Brisbane area) in the forum Help Needed! 19 years, 7 months ago

    Do you have a deposit now ready to go?

    You will need to live somewhere and save it if you don’t. You’ll need at least 12% of the purchase price in cash to buy one of those small studio apartments you are referring to.

  • equityking replied to the topic How do you? in the forum No Subject 19 years, 7 months ago

    EG:
    Purchase $240000 rent $280 per week %?

    Determine yearly rental return
    280 x 52 = 14,560

    then divide the return by the purchase price
    14,560 / 240,000 = 0.06

    Times this by 100
    6.06% return P.A

  • equityking replied to the topic Whats Better in the forum General Property 19 years, 7 months ago

    If your looking for long time capital growth – BUILDINGS DEPRECIATE, LAND APPRECIATES.

  • equityking replied to the topic Excuses for inactivity in the forum General Property 19 years, 7 months ago

    There was a lot of talk that if the election went the way it did, it would create a little surge and confidence in the market. We’ve noticed a slight increase in enquiry since at our office (real estate agency) but not enough to put it down to the election results I think.

  • equityking replied to the topic Can I claim anything in this case? in the forum No Subject 19 years, 7 months ago

    I would say you couldn’t. However, I believe technically if the property is advertised for rent but is empty you can claim. Just be careful, if you are doing major improvements it might be deemed ‘un lettable’ for that time.

  • equityking replied to the topic Real Estate Agencies in the forum Help Needed! 19 years, 7 months ago

    Easiest way would be yellowpages.com.au or click on the ‘search for an agent’ link on real estate.com.au

    alternatively you could contact the office of fair trading for NSW

  • equityking replied to the topic Can i get out of sale contract? in the forum No Subject 19 years, 7 months ago

    I agree with Blondie.

    The only complication would be if you decided to list it again within this 3 month period with another agent. If it sold with the other agent in this time, and your first agency has not granted termination of the contract, you would be liable to pay 2 lots of commission.

    Depending what the original deal was with the agent…[Read more]

  • equityking replied to the topic 3 months in new job? in the forum Help Needed! 19 years, 7 months ago

    From my experience a letter from the employer stating that they are NOT on a probationary period is normally sufficient. But this will not be the case with all lenders.

  • equityking replied to the topic How to Choose an Agent in the forum No Subject 19 years, 7 months ago

    Open listing is the least effective way to sell any real estate. It’s kind of like ‘everyone gets a crack at it, but nobody is responsible for it’.

    The agents probably are’nt working for you as hard as they could, for the reason that you’ve made no commitment to them.

    I would recommend putting on with the agent who gets most results in the area…[Read more]

  • equityking replied to the topic Negative gearing + positive cash flow strategy in the forum General Property 19 years, 7 months ago

    I believe in diversifying your property portfolio. It is a personal thing though, depending on your desired outcome and personal income.
    Myself being young, and on a fairly good income I believe in offsetting positive cashflow properties with negative ones. However, these negatively geared properties are slected specifically for capital growth…[Read more]

  • equityking replied to the topic I want to be a Real Estate Agent in the forum Opinionated! 19 years, 7 months ago

    Choosing to become a real estate agent is a great decision, however of course I”m biased.
    My advice would be:

    Always keep the big picture in mind, at first you’ll be investing a lot of time.

    Work for someone you trust and are proud to be associated with.

    Stay away from any ‘Jenman Approved’ agencies

    Good luck

equityking

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