Total Members: 158,199

John Maxwell

  • John Maxwell replied to the topic Who has Bought in Gladstone? Share experience and Advice in the forum Help Needed! 11 years, 8 months ago

    Hi Dean,

    No there are none of our Gladstone deals left currently – all 25 were snapped up in a flash, as you’d expect. I’d have to go and find out which estate they are in as this was a deal my business partner did earlier (they just settled in the last month or so I believe).

  • John Maxwell replied to the topic Accessing equity after buying BMV in the forum Finance 11 years, 8 months ago

    I’m not going to argue with you Yosarian… You might want to look into it further, I was a Mortgage Broker for 11 years, mostly dealing with Non- Bank Lenders but my first paragraph is correct.

    In my second and third paragraphs U am referring to Option agreements. The Option agreement allows us to nominate the buyer and the price. The valuation…[Read more]

  • John Maxwell replied to the topic Accessing equity after buying BMV in the forum Rick,
    Depending on the
    11 years, 8 months ago

    Rick,

    Depending on the lender, the Mortgage insurance is usually paid in large blocks of settlements. This means your loan is often not officially registered for sometimes 2-3 months. This will prevent you from changing the loan and upgrading to access equity.

    With our members, we do things a little different for this very reason. We also source…[Read more]

  • Sounds like a hell of a lot of headaches ahead or ‘lessons’ ahead, to me.
    I think you can do a lot better! Definitely red flags for me on this one.
    Think about what kind of investment YOU want and go and get THAT!
    Leave the headache deals to others to worry about.

  • John Maxwell replied to the topic Lower valuation than the purchase price in the forum Help Needed! 11 years, 8 months ago

    You should definitely be finding another Valuer. Personally it is unacceptable for the valuation to be lower than the purchase price. That’s like me selling a car valued at $10,000 for $12,000. Sure, some will pay more for it based on features and other benefits but it’s an emotional decision to pay more.

    There are always more deals and better…[Read more]

  • John Maxwell replied to the topic purchase with family??? in the forum Help Needed! 11 years, 8 months ago

    Hi skybee,

    A lot of our members/ clients have received advice in the same circumstances as you are in. They opted to set up a suitable trust structure to purchase the property through. You should seek suitable professional advice on this but I thought this would help to know. Also, as advised above, there are different finance options available…[Read more]

  • Hi Jadatom05,

    The aim of property investing is to make money right? This is always by either cashflow gain v’s capital growth. Cashflow is achieved through rent v’s costs … Therefore the more rent you receive and/ or the less costs you have the better the cashflow over time. If you can negotiate on BMV deals then the capital increases faster…[Read more]

  • John Maxwell replied to the topic Strata title situation in the forum Help Needed! 11 years, 8 months ago

    Hi Keiko,

    As most comments previously have suggested, Torrens title would be the preferred option for many reasons. The council will be able to help you on understanding the minimum allotment sizes in your zoning and council area. You should also check for easements and any other restrictions such as construction footprint restrictions and…[Read more]

  • John Maxwell replied to the topic help/thoughts around property investing. in the forum Help Needed! 11 years, 8 months ago

    Hi Smarcube,

    You will need a good accountant and quantity surveyor to set a plan of action to maximize on your deductions. I agree with previous comments of not focusing on the tax savings only or looking to lose money thru negative gearing. The goal in investing is to make profit and balance between equity/ capital growth and cashflow gain in…[Read more]

  • John Maxwell replied to the topic Who has Bought in Gladstone? Share experience and Advice in the forum Help Needed! 11 years, 8 months ago

    Hi Danger mouse,

    My company recently completed 25 house and land package deals for our members and a few staff. Here are the basics:

    Total Val on house + land was $460k.
    Clients received upfront equity of $85k upon settlement of the land.
    This equity was then used to purchase the land – 20% Dep + Costs.
    The remainder + 10% of deposit was used to…[Read more]

  • John Maxwell replied to the topic BEGINNER!! in the forum Help Needed! 11 years, 9 months ago

    Maybe you could also put a cheap transportable home on the land?? There are often good deals around on these … but be sure to take into consideration all costs of transport, stumping, setting and connections etc this is of course subject to that council approving your application. The financiers will also request that the house is properly set/…[Read more]

  • Being self employed with a long term ABN may give you a few more options … but your Mortgage Broker will be able to advise what products are suitable … especially if he is good! lol
    If serviceability is an issue for the property you wish to purchase … then you can also consider finding a suitable ‘financing’ partner that has enough income to…[Read more]

  • John Maxwell replied to the topic Vendor Finance Coach??? in the forum Help Needed! 11 years, 9 months ago

    Hi John,

    I have attended David & Julie’s program … and in theory what they teach makes a lot of sense and can be done. However, what is in theory is not always easily executed. You must have excellent communication skills, and be able to have the vendor understand the process very clearly, and be able to see clearly the benefit to them. Point…[Read more]

  • John Maxwell replied to the topic Can new homes or units be CF neutral/positive? in the forum Hi Owl,
    Welcome to the
    11 years, 9 months ago

    Hi Owl,

    Welcome to the group! I agree with Josh, there are a lot of good properties out there in the mining regions that are CF neutral … we have also done many that are CF positive. If you know how to negotiate well and structure the deal correctly you can even set these deals up with a buffer in your loan to cover and costs, upkeep or…[Read more]

  • John Maxwell replied to the topic Advice regarding real estate investment? in the forum Always start with the end 11 years, 9 months ago

    Always start with the end result you desire and work back from that. It’s important to develop great negotiation skills or have someone negotiate for you if you don’t feel that is your strong point. If you know the reasons why someone is selling, you can work towards solving their problem whilst negotiating what you desire at the same time. Win…[Read more]

  • John Maxwell replied to the topic Who can I trust? in the forum Overseas Deals 11 years, 9 months ago

    A friend of mine, Daimian Patterson, is a trusted property coach. You can simply google him and you’ll
    Easily find plenty of research on him and his free e-book. He recently took a trip to USA and bought a number of properties himself over there. He’d be a great contact to give personal experience on what to do, what not to do and where to…[Read more]

  • John Maxwell replied to the topic Your Creative Investments (2012) in the forum Hi All,
    We recently did a
    11 years, 9 months ago

    Hi All,

    We recently did a deal for our clients in Gladstone after rescuing a Developer with 3 Land + construction deals they needed to finalise within 60 days to avoid a disaster.

    On the tail-side of that deal … being successfully completed and building trust with them … we set up a deal for about 25 of our clients to secure a house and land…[Read more]

  • Always mitigate risk … money in these times are hard to come by … and mistakes you make in Property can be very costly!
    If experience is lacking, I’d suggest not to bight off too much and learn from other people’s mistakes not your own.

    It’s always very important to have a good plan … and naturally get good advice from professionals who…[Read more]

  • John Maxwell replied to the topic “The Advanced Group” ?? in the forum Good on you Anthony & Johann 11 years, 9 months ago

    Good on you Anthony & Johann …

    I guess some people don’t appreciate that there are people who love to make a difference.

    Wayward … maybe you should invest in an iPhone and you too can chat and make a difference between appointments ;-)

  • John Maxwell replied to the topic high income earners and negative gearing in the forum General Property 11 years, 9 months ago

    I’d definitely go back to the unemotional investing strategy of making money! Why get caught up worrying about negative gearing … a good accountant/financial worth their weight in gold will be able to show you how to manage your tax and deductions in a range of ways.

    I’d agree with the comments of buying positive geared and even more preferably…[Read more]

  • Load More

John Maxwell

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