PropertyInvesting.com | Matt39 | Activity https://www.propertyinvesting.com/members/matt39/activity/ Activity feed for Matt39. Sun, 12 Apr 2026 16:50:54 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 9b60d152e862d96ec767189cffa94061 Matt39 replied to the topic Creative lending/advice for my situation in the forum Finance https://www.propertyinvesting.com/topic/4409527-creative-lendingadvice-for-my-situation/#post-4692191 Mon, 17 Jun 2013 03:48:05 +0000 Building isn't really an option. In the last 6 months things have changed heaps in Muswellbrook and for what I would spend building I could be negative gearing possibly a couple hundred a week. The vacancy rates have sky rocketed too so getting it rented out is a long shot. Definitely need to sell. 

]]> 35bd4608179d25eb06892b7d3f661d1f Matt39 replied to the topic Creative lending/advice for my situation in the forum Finance https://www.propertyinvesting.com/topic/4409527-creative-lendingadvice-for-my-situation/#post-4692189 Wed, 12 Jun 2013 10:14:12 +0000 Thanks for the advice guys it has been appreciated. I have a few properties to look at on Friday and I will still go through with doing so. I won't be sourcing any creative lending in the meantime though I will just let nature run it's course regarding my land and see what happens from there.

Once again this forum has proved very helpful to me.

]]> 1d328491eba2e25922d92ed098dd9062 Matt39 replied to the topic Changing jobs in same industry, how will this affect my ability to get a loan? in the forum Finance https://www.propertyinvesting.com/topic/4409435-changing-jobs-in-same-industry-how-will-this-affect-my-ability-to-get-a-loan/#post-4691359 Thu, 06 Jun 2013 07:12:09 +0000 Thanks for the advice guys it has been helpful. If I can manage to buy a property soon I will get the credit cards while I am on a higher wage then I have the option of using them on a lower income. Once the renovations are done and I pay off the cards I'll get rid of them.

]]> 2239d998669175972806b52760bcdb9a Matt39 replied to the topic Lot reconfigurations and sub divisions, Toowoomba in the forum Thanks for the input mate. So https://www.propertyinvesting.com/topic/4409493-lot-reconfigurations-and-sub-divisions-toowoomba/#post-4691955 Thu, 06 Jun 2013 04:21:49 +0000 Thanks for the input mate. So overall lot reconfigurations are usually cheaper? If that is the case I may chase them further.

]]> b850323396b5a237bbf041cc9b2bf08a Matt39 replied to the topic Changing jobs in same industry, how will this affect my ability to get a loan? in the forum Finance https://www.propertyinvesting.com/topic/4409435-changing-jobs-in-same-industry-how-will-this-affect-my-ability-to-get-a-loan/#post-4691356 Tue, 04 Jun 2013 20:15:11 +0000 Thanks for the advice guys ill take that into consideration in the future. So the credit card isn't too bad? What if I were to take out two cards with $15k-$20k limits each, one with interest free period (45-60 days) and 0% balance transfer (3-5 months) to fund a renovation?

]]> 5a83e68491012b70608dbccd097d53e9 Matt39 replied to the topic Building vs Buying in Toowoomba/Brisbane in the forum Help Needed! https://www.propertyinvesting.com/topic/4409334-building-vs-buying-in-toowoombabrisbane/#post-4690647 Tue, 04 Jun 2013 06:54:55 +0000 Qlds007 wrote:
Sure Matt drop us a line or call if easier.

Going back to the numbers what you have to bear in mind is the acquisition costs associated with a Qld purchase.

With a 30K deposit you certainly aren't going to be buying 2 properties at the same time as the deposit and acqusition costs alone will make a significant dent in your…[Read more]

]]> e778f99232311fe109ee962e38517f31 Matt39 replied to the topic Changing jobs in same industry, how will this affect my ability to get a loan? in the forum Finance https://www.propertyinvesting.com/topic/4409435-changing-jobs-in-same-industry-how-will-this-affect-my-ability-to-get-a-loan/#post-4691353 Tue, 04 Jun 2013 06:51:40 +0000 TheFinanceShop wrote:
This would not score well particularly when there is only one applicant. I would avoid a lender that does auto credit scoring. Go with a lender that will not credit score. Plenty out there. Also you need to ensure that the overall application is strong.

Which are lenders that don't credit score? And do they charge…[Read more]

]]> 892555e0be48af6f2bcebb7fb14b350c Matt39 replied to the topic Changing jobs in same industry, how will this affect my ability to get a loan? in the forum Finance https://www.propertyinvesting.com/topic/4409435-changing-jobs-in-same-industry-how-will-this-affect-my-ability-to-get-a-loan/#post-4691350 Wed, 29 May 2013 07:59:49 +0000 Jamie M wrote:
Duplicate thread – already responded in other thread.

Cheers

Jamie

Yeah mate just a bit of a technical area on my part haha

The LVR would be around 95%, just myself as the applicant

]]> 6d29355da3ae4b9b49ee244196fd084d Matt39 replied to the topic Changing jobs in same industry, how will this affect my ability to get a loan? in the forum Finance https://www.propertyinvesting.com/topic/4409437-changing-jobs-in-same-industry-how-will-this-affect-my-ability-to-get-a-loan-2/#post-4691368 Tue, 28 May 2013 11:24:34 +0000 Thats understandable Jamie, thanks for the insight. Just trying to find out as much as I can about my options so I don't make a dud move!

]]> 5b6af46fcac5b44dcfecd04eaadd8d35 Matt39 replied to the topic Changing jobs in same industry, how will this affect my ability to get a loan? in the forum Finance https://www.propertyinvesting.com/topic/4409437-changing-jobs-in-same-industry-how-will-this-affect-my-ability-to-get-a-loan-2/#post-4691366 Tue, 28 May 2013 11:01:36 +0000 Thanks Jamie, yeah I would be borrowing with 5% deposit. I have been in the same field for over 2 years with a 5 month break and another 18 months really. 

What are the specifics you would need to know? It is a very hypothetical equation I know.

]]> c7c241efc92b76373fd5de6a8fb90cb7 Matt39 replied to the topic Building vs Buying in Toowoomba/Brisbane in the forum Help Needed! https://www.propertyinvesting.com/topic/4409334-building-vs-buying-in-toowoombabrisbane/#post-4690645 Mon, 27 May 2013 08:26:53 +0000 Qlds007 wrote:
Hi Matt

Ok if you have owned before then hate to say NO you wouldn't get the S/D concession or indeed the Building Grant.

With $30K it depends on what you are trying to achieve from your purchase / s ?

If you want to spread it across a couple of purchases then your choice of finance is quite important.

There are a couple of…[Read more]

]]> a20c826cdb5ac6e3ea722321af6594db Matt39 replied to the topic Best place for renovation/hold or renovation/sell in Toowoomba? in the forum Help Needed! https://www.propertyinvesting.com/topic/4409350-best-place-for-renovationhold-or-renovationsell-in-toowoomba-2/#post-4690728 Sun, 26 May 2013 11:15:59 +0000 Thanks for the comments guys. I have been doing lots of research lately and Harristown and Newtown both came up on the radar like you said being that they are very affordable with tenants ready to go. It is likely Id renovate and flip if possible for my first couple then get something a bit more solid for the rental income. Hopefully I can buy…[Read more]

]]> e9c84a05a81fa569b5f221a98d798249 Matt39 replied to the topic Building vs Buying in Toowoomba/Brisbane in the forum Help Needed! https://www.propertyinvesting.com/topic/4409334-building-vs-buying-in-toowoombabrisbane/#post-4690643 Sat, 11 May 2013 12:09:05 +0000 Qlds007 wrote:
Hi Matt

Couple of quick points that might be worth thinking about.

1) FHOG has been and gone and has been replaced with $15K Great Start Grant. As long as you move in with 12 months and live in the property continously for 6 months you should qualify. Course assumes that you have never owned another property in Oz before (PPOR…[Read more]

]]> 76ceb195bf7f31cc05b0112448e351b6 Matt39 replied to the topic Investing in Chinchilla? Specifically Chinchilla Park development? in the forum Help Needed! https://www.propertyinvesting.com/topic/4409298-investing-in-chinchilla-specifically-chinchilla-park-development/#post-4690419 Sat, 11 May 2013 02:42:39 +0000 taxdiva wrote:
Hi Matt39
I have been very interested reading your journey with investing and impressed you are starting so early. Wish I had started earlier. I have an IP in Brook St Muswellbrook and looking for some local opinon. The property is vacant and has been since Feb. It is a 3brm in the heart of town. What are your thoughts on the…[Read more]

]]> 4c030cfa0023f2d011334efaabb37988 Matt39 replied to the topic Investing in Chinchilla? Specifically Chinchilla Park development? in the forum Help Needed! https://www.propertyinvesting.com/topic/4409298-investing-in-chinchilla-specifically-chinchilla-park-development/#post-4690417 Fri, 10 May 2013 12:16:05 +0000 Thanks for your opinions guys they are more than appreciated. JPS I think I summed this up in my comment on the other thread but I have decided to shelve the Chinchilla idea for reasons you guys have covered. This will be my first IP so something stead that is gaining equity and allowing me to move onto another project is what I need now, and…[Read more]

]]> 29e8254046f56fdbac8195dcaaeca78a Matt39 replied to the topic Positive geared = servicablility? in the forum Finance https://www.propertyinvesting.com/topic/4409299-positive-geared-servicablility/#post-4690427 Fri, 10 May 2013 12:09:33 +0000 Shape wrote:

2. Servicing rate is based on current standard variable rate + 2% 

So are you still positive after increasing the rate to 2% and taking in gross rent of 70%?

Can you explain what you mean by that? Please forgive my ignorance

]]> 6e89bfbec992868a27d1ec1ae264ff67 Matt39 replied to the topic Positive geared = servicablility? in the forum Finance https://www.propertyinvesting.com/topic/4409299-positive-geared-servicablility/#post-4690426 Fri, 10 May 2013 12:08:23 +0000 Thanks for the reply JPS and Shape your comments are appreciated.

JPS since this would be my first IP I have decided to can the Chinchilla idea for now. Seems to risky just now and I shudder at the thought I may have a house that I ultimately can't sell in a few years. I do not hope this happens to you but just your comment about houses sitting…[Read more]

]]> 8c612be35317eeea776fb636cbe0a124 Matt39 replied to the topic ATT: Accountants/financial planners, Advice needed on feasibility of trust for purchase of positvely geared property in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4409297-att-accountantsfinancial-planners-advice-needed-on-feasibility-of-trust-for-purchase-of-positvely-geared-property/#post-4690413 Tue, 07 May 2013 11:12:15 +0000 Qlds007 wrote:
On a separate issue are you sure you can get a 95% lvr in Chinchilla?

Done a few deals up there and must admit off the top of my head didn't think the MI would go past 90%.

Certainly if it is Gemworth they wont be doing in interest only these days.

Course always happy to be proved wrong by 95% in a Trust structure call me old…[Read more]

]]> 46c5f12162a0030b18347a07e99cf281 Matt39 replied to the topic Positive geared = servicablility? in the forum Finance https://www.propertyinvesting.com/topic/4409299-positive-geared-servicablility/#post-4690423 Tue, 07 May 2013 07:31:42 +0000 Jamie M wrote:
Most lenders will take somewhere between 75% to 80% of the gross rent for servicing. Therefore, the higher the rent, the better your servicing. The only caveat being certain postcodes/areas where lenders have placed restrictions on the percentage of rent they'll consider.

Jamie

Thanks for the info Jamie. What sort of areas do…[Read more]

]]> cbd7e0309f3bb305019f0abfb30a3989 Matt39 replied to the topic Positive geared = servicablility? in the forum Finance https://www.propertyinvesting.com/topic/4409299-positive-geared-servicablility/#post-4690422 Tue, 07 May 2013 07:29:40 +0000 Qlds007 wrote:
Matt a $200 positive gearing i assume that is per month.

Are you sure it is not a Display home with a leaseback arrangement or similar and if not you must be putting in a decent sized deposit.
Are you sure you want to put that much in ?

Remember over and above the cash deductions you will also receive non cash deductions you can…[Read more]

]]> e57ce919bb09d6395fda5d3358e8243d Matt39 replied to the topic ATT: Accountants/financial planners, Advice needed on feasibility of trust for purchase of positvely geared property in the forum qlddk wrote:Emerald rentals https://www.propertyinvesting.com/topic/4409297-att-accountantsfinancial-planners-advice-needed-on-feasibility-of-trust-for-purchase-of-positvely-geared-property/#post-4690412 Tue, 07 May 2013 07:10:25 +0000 qlddk wrote:
Emerald rentals just fell on its face…
I would be very careful about buying in Chinchilla and I work out here right now.
42000 workers? maybe, but no all at once, and most in FIFO like me
then afterwards, maybe a few thousand workers fulltime, some/most might live here
I am interested in the whole trust setup advise…[Read more]

]]> 2787acc5116ae2da01060972740b22d4 Matt39 replied to the topic ATT: Accountants/financial planners, Advice needed on feasibility of trust for purchase of positvely geared property in the forum Qlds007 wrote:On a separate https://www.propertyinvesting.com/topic/4409297-att-accountantsfinancial-planners-advice-needed-on-feasibility-of-trust-for-purchase-of-positvely-geared-property/#post-4690411 Tue, 07 May 2013 07:01:36 +0000 Qlds007 wrote:
On a separate issue are you sure you can get a 95% lvr in Chinchilla?

My friend works for the company I'm going with I'm being told Commonwealth will offer LVR of 95%-90%, I will most likely contribute 7.5%-10%

]]> ee3399f90a29e4878434a42aebffcbed Matt39 replied to the topic ATT: Accountants/financial planners, Advice needed on feasibility of trust for purchase of positvely geared property in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4409297-att-accountantsfinancial-planners-advice-needed-on-feasibility-of-trust-for-purchase-of-positvely-geared-property/#post-4690406 Mon, 06 May 2013 11:36:35 +0000 Terryw wrote:
You forgot to mention lawyers – A trust is nothing but a bunch of legal obligations.
.

Yeah rookie error there, thats why we ask questions haha. I have a conveyancer, can they advise me on a trust? I am also interested in the legal side, in case the unthinkable happens ie) getting sued, she devil partner taking my hard earned…[Read more]

]]> 221871aef52c497daa3f944c2f0a1690 Matt39 replied to the topic Best suburbs in and around Brisbane for renovate to hold/sell?? in the forum Help Needed! https://www.propertyinvesting.com/topic/4409209-best-suburbs-in-and-around-brisbane-for-renovate-to-holdsell/#post-4689978 Sun, 05 May 2013 11:34:46 +0000 Thanks for the input guys it has been helpful. While Brisbane is on the rise again I think it's best to wait until I can get in at a higher end of the market. I have also lived in Ipswich for 6 years and some are advising me to look there to get in cheap. I just can't see ipswich being the performer it claims to be. It has some benefits but think…[Read more]

]]> dd115858d37016024ef706f9c3ca1eb4 Matt39 replied to the topic Best suburbs in and around Brisbane for renovate to hold/sell?? in the forum Help Needed! https://www.propertyinvesting.com/topic/4409209-best-suburbs-in-and-around-brisbane-for-renovate-to-holdsell/#post-4689975 Sun, 05 May 2013 07:36:36 +0000 adriannqld wrote:
Come on, doesnt anyone here have a Crystal Ball?

 

haha would make this property investing thing a little easier eh?

Brisbane looks attractive being the bottom of the market atm. I don't have a partner mate so will get a female friend to pick colours for me maybe . .

Although thinking about Chinchilla/Miles region, lots…[Read more]

]]> 28747346820a0c3c59d1606213077c1f Matt39 replied to the topic Best suburbs in and around Brisbane for renovate to hold/sell?? in the forum Help Needed! https://www.propertyinvesting.com/topic/4409209-best-suburbs-in-and-around-brisbane-for-renovate-to-holdsell/#post-4689973 Fri, 03 May 2013 07:48:46 +0000 Thanks for the advice. I grew up on the east side of brisbane so I may have an advantage in that area. I am exploring a few different options at the moment and your advice is definitely appreciated

]]> f447dfb0d3c39344c90fd80544119f46 Matt39 replied to the topic Best suburbs in and around Brisbane for renovate to hold/sell?? in the forum Help Needed! https://www.propertyinvesting.com/topic/4409209-best-suburbs-in-and-around-brisbane-for-renovate-to-holdsell/#post-4689971 Mon, 29 Apr 2013 09:19:16 +0000 I am considering Ipswich as i lived there for 6 years. Although there are many "markets within markets" in ipswich, some good and bad areas so I may need to do some research

]]> 5859a22ff25382a20146f2314b8623a8 Matt39 replied to the topic Best suburbs in and around Brisbane for renovate to hold/sell?? in the forum Help Needed! https://www.propertyinvesting.com/topic/4409209-best-suburbs-in-and-around-brisbane-for-renovate-to-holdsell/#post-4689969 Tue, 23 Apr 2013 10:16:47 +0000 I will consider either a unit or house but preferably a house. Will be looking to buy at the back end of this year if that makes a difference.

]]> 8eefc10bc2986efad833ba50583f44e7 Matt39 replied to the topic First project, mining town (Muswellbrook), advice needed! in the forum Help Needed! https://www.propertyinvesting.com/topic/4409198-first-project-mining-town-muswellbrook-advice-needed/#post-4689899 Mon, 22 Apr 2013 07:28:15 +0000 Thanks for your comment Freckle, its funny that you mention this as overnight I have decided selling is the way to go. Your stats have confirmed this for me so this makes me feel more confident about this thank you.

After the sales fees and adding in savings I should have $30K plus to invest in something else, a much better outcome I believe! Thank you.

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