Total Members: 158,662

mattsta

  • mattsta replied to the topic Equity to purchase 2nd property in the forum Help Needed! 10 years, 1 month ago

    For loan 2, I generally like to use Home Equity Lines of Credit (HELOC) which acts as a separate loan, and whihc you can use for deposits for your next IPs.

  • mattsta replied to the topic Determining property value in the forum Help Needed! 10 years, 1 month ago

    Yeah if it’s a regional town and a multi-unit property, >8% is not too unusual because of the lack of demand both from city-dwellers/city-based investors as well as locals in the town.

    I bought a multi-unit property in a NSW country town – very CF+ and very profitable – that had a gross rental return of 15%! Still have it today. Always great to…[Read more]

  • mattsta replied to the topic Positively Cashflow – Looking for example how you keep buying? in the forum Help Needed! 10 years, 1 month ago

    Hi Ben,

    You have got the main gist of positive cashflow investing, and your question revolves around what JacM called ‘natural equity growth’ – which is a good description.

    One of your assumptions was this: ‘So now my equity is down to 30k and for this example let’s say there is no capital growth for 10 years so that figure does not c…[Read more]

  • mattsta replied to the topic Where to find info on best places to invest in Western Sydney? in the forum Help Needed! 10 years, 1 month ago

    I saw some a few months ago in Western Sydney for around 290 just past the blacktown area.. but they get snatched up very very quickly, and the demand has been driving up prices so that there really isn’t much anymore.

    You could wait for the market in Western Sydney to slow or burst and then get into it when prices dip a little – but you may…[Read more]

  • mattsta replied to the topic Help for WA investor in the forum Help Needed! 10 years, 1 month ago

    Hey Sandtrackers,

    Yeah it was a bit hard to read your original post.

    Anyway, here are some feedback from some of your comments.

    If you’re planning to buy without viewing, be sure to still at least get building inspections and pest inspections done on the property and have the reports sent to you before you settle on the property. That’s what I…[Read more]

  • mattsta replied to the topic Helpful tips for when writing up an offer in the forum Help Needed! 10 years, 1 month ago

    Also, you could add “Subject to” clauses regarding the acceptability of the building inspection results and pest inspection results.

    I always put them in my offers.

  • mattsta changed their profile picture 10 years, 1 month ago

  • mattsta replied to the topic investing in bronxy areas in the forum Help Needed! 10 years, 1 month ago

    Agree with TheNewGuy…. If you want Positive Cashflow properties, they generally aren’t achieved through building brand new. That’s from my experience. Look at the numbers yourself.

    You’re better off finding existing properties in low-socio economic areas that deliver a high % ROI from the current achievable rents.

  • mattsta replied to the topic Getting Started Property Portfolio in the forum Help Needed! 10 years, 1 month ago

    The strategies mentioned above are sound. You can use a home equity line of credit (HELOC) in order to borrow against your existing PPOR or first IP.

    My suggestion to to focus on the first property and make sure that is good. Take is step by step, and the first step would be to get your first IP. From there, it gets easier to get more propertie…[Read more]

  • mattsta replied to the topic How do you find out the vacancy rate for a suburb? in the forum General Property 10 years, 1 month ago

    Personally I use the SQM Reseach for vacancy rates. It’s free to use their vacancy rate platform as well, which is very useful.

    Other than that I prefer to physically check out the suburb and get a feel for the vacancy, by driving around and talking to RE agents and other investors who have invested in the area.

  • I’ve been using terri scheer for my properties. So I’m familiar with them. A clearer question from you would be good so we could help.

  • mattsta replied to the topic What type of vehicle do you have ?? in the forum Opinionated! 10 years, 2 months ago

    I don’t have a car because I choose not to – mainly because I’d rather purchase properties or put money into my businesses, but also because I work from home mainly, or am travelling. I think it would hurt me more to own a car and have it sit there not being used.

  • mattsta replied to the topic BUYING A PROPERTY WITH A PARTNER in the forum Help Needed! 10 years, 4 months ago

    I bought my first property with my fiance when she was my only my girlfriend (de facto partner). We shared the mortgage to make it easier, and we talked at length about the commitment to buy a property together.

    I think a big factor in it is the trust you have in your girlfriend and the relationship. We had a solicitor help us out with the…[Read more]

  • mattsta replied to the topic Need help setting up. in the forum Help Needed! 10 years, 4 months ago

    I strongly suggest you have the property in both your names. If it's just in your friends name, and something goes wrong, you may not be able to property exercise your rights to the property.

    I think you should write up an agreement in advance about termination, and you could talk it amongst yourselves and get a lawyer to help you fine tune it.

  • If you're worried about the hidden surprises, you could do due diligence and inspect it yourself, as well as get pest inspection and building inspection done.

    For gang issues, you could visit the property and get a feel of the surrrounding neghbourhood. Also talk to some locals in the area to figure out the good and bad areas.

  • mattsta replied to the topic Broken hill – anyone own property there? in the forum Help Needed! 10 years, 4 months ago

    When looking at BH properties, don't forget to check out the costs of holding property there. I think from my previous research, the council rates were generally higher than other places and also the property management fees are higher too. I think the reason being the distance away from other major towns bumps up the rates and fees. As long as…[Read more]

  • mattsta replied to the topic Tenant been harrased by a neighbour in the forum Help Needed! 10 years, 4 months ago

    I've been renovating one of my block of flats, and while I've been here, one of the tenants went on a drunk rampage against another tenant. I was there while it happened, and had to call the police. Very frustrating stuff!

    It is a little awkward to kick him out while I'm here doing renos, but when I leave in the next few days, I'm going to make…[Read more]

  • mattsta replied to the topic A Question For Steve in the forum General Property 10 years, 5 months ago

    Hey MiniMogul,

    Great story! Read through it all, even though it was a little long – it certainly was detailed and very inspirational.

    I'm just getting into NZ properties now, and agree with you about the benefits. I already have 5 units in Australia, but the benefits of NZ cashflow positive properties are very alluring, and my next properties…[Read more]

  • mattsta replied to the topic “The big picture” – for new readers especially… in the forum General Property 10 years, 5 months ago

    Hey Benny, I like how you have found some real gems in the forum. It's often hard to trawl through so many of the forum's posts to get to the ones wit hthe great insights… Keep it up!! I think it will really be useful for the newbies (And even the more seasoned) investors out there

  • mattsta replied to the topic The old convert the PPOR trick.. in the forum Help Needed! 10 years, 5 months ago

    Personally, I'd go for a longer term rental. I'd rather have the consistency, and it will be much easier to get finance – and since it's less of a hassle, it could mean more time for you to focus on growing your portfolio.

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