Forum Replies Created
Hi firstly good are to develop
that area always has a strong demand, when are you planning to start building?
Take your time as you know the building game is quiet in Victoria.
So of your in the game your going to save a whole heap of cash..
also speak to the councils and see what there building requirementsare
Also it might bee a good idea to speak to a Local drafter
AlSo get in contact with a broker who understands building loans etc
Jpcashflow | JP Financial Group
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As much as people might not like Robert the guy has made allot of money…
but as a fan of robert I would rather invest my time and money in learning from some one like steve
Acutaly I aam gong to post a new topic lol
Jpcashflow | JP Financial Group
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Email Me | Phone MeYour first port of call in finance :)
Speak to Jamie on this site he we will help you out, remember loan structure is just as important As rates or lvr
Valuations will very from bank to bank,
Cba valued my home at 420 and nab at 360 lol
Jpcashflow | JP Financial Group
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Email Me | Phone MeYour first port of call in finance :)
Hi Hannah 998,
Hope it all works out the way you want it to.
You say at the start that you invested 30K of your own money for landscape "etc"? Maybe you can put a file together for tha valuer with all the receipts to show you have actually spend 30K.
But just keep in mind (open mind) because you spend 30K on your house this does not mean your house will go up by 30K.
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
D WOLFE great point!!!!
I always say this, many people struggle when times are good and many people thrive when times are bad.
simple as that…
Jpcashflow | JP Financial Group
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Email Me | Phone MeYour first port of call in finance :)
I still think rates will get allot lower and I hope things continue to improve but I think the issue is that in employment is steadily increasing.
I know lot of experts say retails is being effected by the Internet but is it really that simple?
PeoePle are buying good online but it's getting to a stage where people are buying from oversease sites.
Also when retails struggle there are many industries that feel the pinch
if shops are quiet landlords reduce the amount of cleaners required, reduce security, shops spend less on renovations and staff get cut off too.
But overall we are still in the best country by far. & I hav to agree with jack cash is king at the nomen
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Rates aare goin to go down down!!!
jamie from your point of view when banks lower there rates do u think there lending polices change
Jpcashflow | JP Financial Group
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Email Me | Phone MeYour first port of call in finance :)
Freckle, why not run an internet course then? $40 bucks a pop x 100 = you do the math hahah.
Paul does make some valid points, I think going to these events are good for a couple of reasons
1) Keeps you focused
2) you meet some postive people who may have the same goals as you.
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Pricing war is going to star just about now lol
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
That's so true Richard and Nigel,
A common occurrence I usually here is this, I want to make 50
k on my first deal, if I can't make that it's not worth it.
When building a brick fence you can't just build iit in one go, it
takes
time brick by brick……
My best deal was 7 years ago bough a house for 185, leased my house to the government.
Sold it for 320 to the government, got a good tax break as well ffor helping tthem out
Oh I made a small 30 k profit in ttwo months bought a house under valued by 30 k settled , renovated and made
A profit,
I must admit these days I aam a bit more conservative
Jpcashflow | JP Financial Group
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Email Me | Phone MeYour first port of call in finance :)
Hi guys
this guy is a master at his craft, but more importantly you will get to meet like minded people at this event an for 80 bucks not bad at all. Spend 80 bucks on foxtel or spend 80 bucks and you
might learn ssome thing new, meet new people and maybe creates a opportunity
Just before you go to this session, on a note pad write what you are hoping to achieve ffrom the event, are you prepared to take action from any advice but more importantly will this event help you in any way to achieve your ffinial goal
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Hi Amelie,
Hope you are well?
Firstly welcome aboard and good luck with your new venture.
Like most have suggested, maybe just wait until you settled on the property and once you acutaly have the property in your hands maybe look at quting.
You say you hate your job and you want to quit? Rather than just rushing in quitting are you able to work part time and study full time in some sort of capacity?
Maybe use that “extra” income from part time work to help you reach your goals?
We live in interesting times, If your partner lost his job, Do you have enough surplus cash to live and to continue to invest?
Sorry If I sound a bit direct but so many people just quit before exploring all other options.
PS never advertise that you want to quit, you just never know who else might be on this site, EG your bank manger, work colleague
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Depending on your target market, which suburbs ate good to buy in? To me the property it self is more important, can we add value, can we look at future development "etc" you also have to look at your area an say if I built another room why other homes am I competing in the area, the property game has changed and you need to treat it like a Bussiness,
When I first bought my up on my 21st birthday you could buy pretty much buy any property an the value would increase every day. That was only 7 years ago but now you need to look at all the fundamentals also every one is going to have there preferred places to buy, so you need to buy some thing that suits your long term goal
For me u focus allot on shares, it works for me, im
up every day by 5 and I don't go bed until 12, always reasearching
But what I recommend you do is this, network , build a good team around you , get a good broker, mentor , lawer and accountant to me this is more important in your early stages of investing
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Hi avalonesa
even if you get 60 dollars a month after the loan, you still need to cover insurance, maintance, insurance, rates "etc" you will still find after all of these expense your property would be negative geared.
The old saying that buy some thing close to the city has changed and here are my reasons
If you look at melbourne, there are more corporate companies who are moving out of the CBD or into another state all Together,
a few companies I deal with who are blue chip firms have moved into areas like laverton, keilor park, Derrimut and even dandenong . Why are they moving cheaper rents!!!
our train system is developing more and more and look at this example as well, my wife and I live in deer park she catches the v line to work it takes her 40 mins into the CBd, her work mate lives in st kiilda and she takes the same time.
Most areas now have schools, transportation an shop
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Good times or bad times is irreverent to me, what matters the most Is
My own fincial situations is, sures times might be tough but it could be allot worse.
For me being a young guy this is the first recession I have experienced so this will only prepare me better for the next time
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Hi Guys,
I have to agree with Terry, Banks are providing breathing space for allot of people at the moment. But is it really just first home buyers or the times we live in?
For the last 20 years people /business have always faced these challenges, I think the numbers might look “bad” but in reality our population has also increased over the last 20 years as well.
The issue we have in today’s world, is people have too much bad debt, car loans, Holiday loans, furniture loans, I pad phones.
A relative of mine said to me two months ago that the place he was working at was closing down in three months time, two weeks later he takes out a 80K loan to by a mustang.
He still has not found a job yet…. Are people just silly?
Jpcashflow | JP Financial Group
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Email Me | Phone MeYour first port of call in finance :)
Hi money for u
Good idea….
Its amazing how many people are starting to get back into the share market the yields are great
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Hi All + Great thread Rosa,
Saving for a deposit is never easy and it’s not usually caused because someone is not earning enough $$$, There are plenty of people out there who are on the big bucks but they still can’t save because they simply don't know how too and they may also have bad spending habits.
Here are my tips:
1) Budgeting (Very Important) – Set up a fortnightly / Monthly budget, Have a list of all of your incomes Vs expenses, see if you can cut out any of your expenses, In your expenses Column add a mandatory “Savings Plan”, Rosa has provided every one with some great options
– Any spare cash left over – just save it – You will be surprised how much that little extra will help.
2) Money habits: What is your current spending habits? You need to be disciplined, focused, stingy & also you need to know what your goal is, 20K in one year, 30 K in one year "etc".
3) 2nd Job: Are you able to secure a 2nd Job? This was my favorite tool to build up my savings, I used 1 wage (Part time job) – 100% of this income was saved + my with my primary income, I saved most of it as well.
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Hi Work Ur Money,
Firstly welcome to this forum, Since I am a big batman fan lol, I would be more than happy to offer you an opinion.
Best thing to do is to talk to an expert in this field, Terryw on this forum will be able to provide you with great advice on structures “etc” for your situation.
My wife and I have our holdings split into two categories – 1) Into a Trust and 2) under my name as well.
Are you planning to set up the structure yourself? If so I would honestly recommend getting an expert to set this up for your properly, Also see what the PROS and CONS will be for each structure/situation.
I would also talk to an accountant about transferring shares from your name into another entity, from my personal experience, we had allot of shares that were making a profit and some of the shares we moved into the trust incurred capital gains tax as well.
Do your due diligence and set up it correctly from the start, I have a great accountant based in Melbourne who knows shares back to front, If you want his details please let me know.
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Is the QLD market going up or down, every one is going to have a different opinion and that what makes investing interesting.
I think what might matter the most is how is this property contributing to your overall goal?
Nigel raised a good point as well, opportunity cost? Some times a under performing asset may cost you more based on missing opportunities vs holding the property for a gain.
Have you spoke to your accountant? If you sold for a loss, can you claim a capital loss to offset any future capital gain?
The biggest fear people have in investing is making a loss, sure you might make a loss now, but the experiences you have learnt will make you more money in the future.
I know people have suggested that "new roads", "works" "etc" might occur, But ask your self this question, if non of these planned "works" occur what will happen to your property then?
Maybe call the council and see what stage they are up to in regards to new roads and works "etc". Do some further researh.
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
