Total Members: 158,564

kellylock

  • kellylock replied to the topic From 0 to 130 Properties ……Feedback in the forum General Property 16 years, 6 months ago

    Hi Daniel and isco,I started by reading Steves book 3 years ago, when the market was changing. I would recommend reading Steves second book, 260+ properties in 7.5 yrs, and then read a variety of books by different authors. It can be confusing, but I have found it really useful to "collect" a range of strategies from different authors, and you can…[Read more]

  • kellylock replied to the topic Determining the market cycle? in the forum Creative Investing 16 years, 12 months ago

    The point here is, by all means do your research, due diligence, and educate yourself… but wouldn't you be a bit silly if it stopped you investing in a promising deal… and there are still promising deals (even with the statistics).

  • kellylock replied to the topic Positive Cash Flow Properties in the forum Creative Investing 16 years, 12 months ago

    Just because there are no $45,000 properties anymore, doesn't mean you can't begin.In order to get a positive cashflow property you may need to become more creative (Steveé second book has some ideas, as do other books on the market).Find a place to start: maybe a unit, maybe build a share portfolio first, whatever suits your circumstances, but…[Read more]

  • kellylock replied to the topic Property Investing 101 – Advice needed! in the forum Help Needed! 16 years, 12 months ago

    Research and education….That was my starting place.

  • kellylock replied to the topic How to invest with little equity? in the forum Finance 17 years, 1 month ago

    I guess may (very simplistic) view is to …. SAVE.I would continue to pump money into my homeloan, save some in an investment account and begin small with some shares or something like that. Then, once the market has risen, and some extra is paid into the mortgage, your friend should have some equity there to play with, as well as some…[Read more]

  • kellylock replied to the topic Where should I buy in Melbourne in the forum Help Needed! 17 years, 1 month ago

    What do you want from your property? Do you want good capital growth? Do you want a median house? What sort of tenants do you want to target? (middle class, or lower?) Do you want to renovate or subdivide and sell?In terms of potential capital growth:Suburbs located near the new Eastlink tollway may be worth a look. Some of them may have already…[Read more]

  • How do you know the heritage listing of Property 1 will be removed?Hopefully you have done all your research in the area and have written down what you would do in a worst case scenario. It seems good, and congratulations on your purchase.Who pays the debt? The company or trust or you?Kelly

  • Do you have a loan for the land? If you build a house and borrow more to do it, will the cost of the loan be too much to positively gear? I would put in enough cash into your IP/land to make it pay for itself (I mean, so that the tenants pay for it all), and then put the rest of the cash into something else that will work for you, another…[Read more]

  • kellylock replied to the topic No Money Down / 2nd Mortgage in the forum Creative Investing 17 years, 1 month ago

    That is how it works. Usually the vendor doesn't go and physically go and get another mortgage, they just "lend" you 20% of their property, which you pay them back at a higher rate. Usually vendors who don't need the money immediately are the ones that are more open to doing this. Sometimes the vendor does want some sort of deposit, say 10% or…[Read more]

  • kellylock replied to the topic Latest property report in the forum Heads Up! 17 years, 1 month ago

    Do you have to be a subscriber to the site?

  • How do you get loans for all that property???Kelly

  • kellylock replied to the topic Quantity Surveyor Necessary? in the forum Legal & Accounting 17 years, 1 month ago

    I have also recently looked at getting a brand new property, and I was told that a QS is THE qualified person who works out the depreciation schedule, while your accountant looks after the tax side of things.That is the depth of my experience.Kelly

  • kellylock replied to the topic How fast does rental income increase? in the forum Help Needed! 17 years, 1 month ago

    Rental income increases differently in different circumstances.Sometimes it is in the rental contract to increase according to inflation. It rarely increases according to capital growth. (That I know of anyway) But (in recent times) it has increased due to demand and supply (demand is high and supply is low).Kelly

  • kellylock replied to the topic What is Dual Occupany compared to a Strata home? in the forum Help Needed! 17 years, 1 month ago

    Strata titled properties usually have a body corporate because they have some shared land. The actual properties within the strata title can still be subdivided and be on separate titles though. (I think…can anyone else confirm?).Kelly

  • kellylock replied to the topic which clauses to inc in house offer??? in the forum Congratulations!Kelly 17 years, 1 month ago

    Congratulations!Kelly

  • kellylock replied to the topic what you don’t know about “the Secret” in the forum General Property 17 years, 1 month ago

    The Article was definitely interesting. I must say, I believe that when you earn something, you treasure it more. But I also believe in the power of positive thinking, and in believing in yourself to do the amazing things that you are capable of inside….I find it a difficult concept to grasp that these two things are opposite.Kelly 

  • kellylock replied to the topic Hi All – New Member – Can you help me? in the forum Help Needed! 17 years, 1 month ago

    Call a mortgage broker now (I mean, don''t wait till you have a job) and ask them a series of questions. A lot of lenders are willing to lend if you have been in a secure job for a little while. This may give you an idea of how long before you can get a loan.Talking to different people is a great way to learn things, even if its just other peoples…[Read more]

  • kellylock replied to the topic Help please in the forum Help Needed! 17 years, 1 month ago

    If you buy an IP first, you will be ineligible for the FHOG later, as you will have already bought one house.If it is an IP straightaway, you should be able to claim any cost associated with the IP, but check with you accountant (who should specialise in tax stuff with IP's) and see what they say.You will really have to crunch all the numbers to…[Read more]

  • kellylock replied to the topic Turning PPOR into IP in the forum Help Needed! 17 years, 1 month ago

    The other thing is, the more that you redraw, the longer it will take for the property to turn into a positively geared property. Or is it that you want the tax benefits over the positive cash flow?Instead, could you use the equity (because you have a fair bit) to buy something. Obviously not your PPOR, but maybe another investment, thereby…[Read more]

  • kellylock replied to the topic home turn inv prroperty in the forum Help Needed! 17 years, 1 month ago

    Look at the rental return you could achieve with your home – turning Investment prop. Will you be able to survive with the mortgage?If you rent out the new house (the one you are building), you will have much more depreciation benefits from all the new fittings etc.. which is an on-paper loss that you can offset against your taxable income. This…[Read more]

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