Forum Replies Created
hover shoes, red.[hat]
lifexperience
Steven,
thanks for explaining, am i right in thinking that this offset would be a handy place to keep the extra cash borrowed until needed for payments on props i put in trust?Or are you just suggesting to keep a few bucks tied to PPoR as extra security in case of loan default?
Am I missing anything?
[smart]lifexperience
Steve,
good deal for the MAP it would seem.Are you asking for thoughts on how to calculate the return?
if so. you could calculate that $4k against any closing costs.
or.. maybe calculate against a money value created for time spent researching the deal if it was no money down.
Ie: say 50 hours setting it up and value your hours at about say $25 bucks an hour.
You could work out the effective return for the prop as a standard for any more deals you set up.
ie $4000 / (50 * 25) = 320% annual return on time spent (@ $25 per hour)
Were you asking about this?
[daisy]
lifexperience
Thanks steve
[jester]To add to Simons post,
I would also consider having an offset attached to the owner occupied loan,What is an offset, explain please. I’m unfamiliar with this.[eh]
lifexperience
Maybe follow ambulances?[drummer]
lifexperience
Down here in melbs, the underworld are killing each other off.
You might be able to get a tip from anyone in the mobster game of upcoming places.[curtain]lifexperience
My one question remains though.Can I consider a property investment cf+ at what deposit level?
0%, 10%, 20%, 30%…… at 100% everything is cf+. So where is the cut-off point?Is there a definition out there?
hi glen,
If you have a property that has more expenses annually than income. It ain’t +ve cashflow baby. Even if you get it for no money down.
But, usually if it is +ve cashflow ie:making money, the less money you put down, the better the %. (although you pay more interest for a higher loan so be careful if that last 20% is on the credit card).
cheers[daisy]
lifexperience
MortgageHunter,
great idea, i’ve been looking for a way to safely leverage the props i have in my own name to buy more IP’s (which are going in a trust).YAY!!!!!!<smiles>[thumbsupanim]
Would the interest on the LOC be deductible if it was a PPR?
lifexperienceharro,
I have recently bought some rural props. The biggest problem was Lenders Mortgage Insurance for lending more than 80%. (i borrowed 85%),I was informed an 80% or less lend was easier.
Have you considered second mortgages or other options to get the higher LVRs you want.
What professional advice have you been given so far? … trusts?
[cowboy2]
lifexperience
This site is a wonderful creation, congrats.
[thumbsupanim]
Still,I liked it the old way too. [cry]
lifexperience
Russ,
Would paying more than the property was worth really help her condition and happiness? [dozey] .I doubt her money situation is the cause of her un-happiness (if she is actually un-happy). Some of the great geniuses of our time lived in mess.
As with investing with intelligence, compassionate actions can be more effective if wisdom is added. (similar to buddhist practice)
Why throw money you can’t afford at this problem, there could be more effective gestures and actions that make the world a better place(especially in ones everyday interaction with people from now).[inlove]
This thread (and a lot of your posts in the past) have shown your compassion Russ, could you maybe be thankful for the chance to grow even more in this part of your life.[angel]
lifexperience
30 million, why so low?
You wouldn’t get your own planet with world peace, chill out dimension or even hover shoes for everyone with that.
C’mon people aim bigger, [pimp]
lifexperience
just ask tenants nicely to take a form with ya bank details and the “periodic payment” amount and start date to their bank.
It helps if you both use same bank, i open a new account if this is not the case.[jester]
lifexperience
I have nothing to pick on any-ones technique, it’s hard when you don’t know their full story.
My technique (work in progress) is to buy props that are slightly neg-geared in potential growth areas (ie: country), and then get creative and do as much as i can to turn them +ve cash flow.
[cowboy2]
lifexperience
Hi,
Have you considered using the wonderful powers of computers.I ask my tenants to set up periodic payments straight into my rent accounts. They just do this at the bank. costs about $2 -$5 depending if its the same bank or not. (i offer to refund these fees to them, but you don’t have to).
If they are with centrelink, set up a Centrepay account. $1 per transfer.(be patient with centrelink, they are slow with everything!)
Cheaper than paying thugs to knee-cap ’em!!!.
[hat]
lifexperience
Shushar,
I get my inner peas by opening the tin, and diging in deep with a spoon. [drummer]lifexperience
Welcome dude,[cowboy2]
Why are you investing?, what do you hope to acheive?, what do want it to provide you?:These are some questions i started with before deciding a strategy to use.It’s hard to choose a good road when you haven’t got the destination.[guitar]
lifexperience
Jo,
cool bananas, and that is a good point to not take things literally.I noticed your use of italics for emphasis. Try coloursthereare some niceprettyones.
Keep that passion, it livens up the forum.[sunny][jester]
lifexperience
Ace Acey!
Money has no taint whatsoever.It’s not how much you have, it’s how you use it.
Only if you have millions of dollars can you can give millions to charities.
I like this, it is going on my motivation wall.[specool]
lifexperience
Misty1,
I do the initial work on the house in the beginning, but have all extras done by others (jims mowing, fire-wood deliverer, etc.)Good point on theft and damage, I will let you know how i go. But there is insurance for some things and for the rest, i am hoping to absorb any extra costs like these with the other good properties. I am aiming for one huge problem house for every 10 props.
I can’t reccomend this system as time will only tell if it is feasible, no probs so far.
However I am getting more focused on my due diligence checks on tenants as i have more tenants to choose from.
As with all my ideas, time will tell. And I’ll keep everyone posted[daisy]
lifexperience
