[ozpropertyguruMember@ozpropertyguruJoin Date: 2013Post Count: 17]

April 25, 2013 - 1:29 am

I'm looking at flipping for profit – that's the strategy. Since writing the question I have found a lot of material online so thanks again people for your contribution.

Best regards,

Sam Barry

[ozpropertyguruMember@ozpropertyguruJoin Date: 2013Post Count: 17]

April 22, 2013 - 8:49 am

It's a house.

[ozpropertyguruMember@ozpropertyguruJoin Date: 2013Post Count: 17]

March 30, 2013 - 12:29 pm

If I could run all the numbers by someone that would be appreciated. 

Cheers all,

Sam

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March 30, 2013 - 12:28 pm

Thanks, I've PM'ed you.

[ozpropertyguruMember@ozpropertyguruJoin Date: 2013Post Count: 17]

March 30, 2013 - 10:09 am

Thanks Terry, I'm gonna call my broker & accountant after the holiday to see what position I would be in. 

[ozpropertyguruMember@ozpropertyguruJoin Date: 2013Post Count: 17]

March 30, 2013 - 9:23 am

Thanks guys! My next question is.: Let's say the spreadsheet say's that the property is going to cost me about $80 per week. Would tax benefits cover this to make it neutrally geared? Do people rely on tax for an IP to be positive or neutrally geared?

Happy Easter to all,

Sam

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March 29, 2013 - 8:13 am

Shahin, do you mean input the total price of property as well as deposit? Or the full loan amount. For example, loan amount $270k and 30k deposit? 

[ozpropertyguruMember@ozpropertyguruJoin Date: 2013Post Count: 17]

March 29, 2013 - 4:37 am

Thanks Jamie,

I've used the spreadsheet and it looks as though there would be little difference to the end result even if I added an extra $50 a week to the rent.

I'm thinking about buying a property for $265k

Weekly rent would be $320.00

Deposit would be 10% or $26,500. However, even if I put a 20% deposit it doesn't look like the situation would differ much. 

With a 10% deposit it would be negative $44 per week and with a positive it would be $88 per week. 

It this all right? Could you please confirm… 

[ozpropertyguruMember@ozpropertyguruJoin Date: 2013Post Count: 17]

March 28, 2013 - 11:40 am

Jamie, could you recommend a link to a webpage that I could use to start learning how to crunch the numbers? I need help using numbers to know if an IP will be positive cashflow or neutral cashflow. If you know a page which contains all the formulas please let me know.

Cheers,

Sam

[ozpropertyguruMember@ozpropertyguruJoin Date: 2013Post Count: 17]

March 28, 2013 - 11:35 am

Thanks guys! That being said, that would also mean if you funded the deposit yourself you could instantly refinance and tap into the equity to purchase another IP?

[ozpropertyguruMember@ozpropertyguruJoin Date: 2013Post Count: 17]

March 4, 2013 - 11:25 pm

Cheers for the feedback. 

[ozpropertyguruMember@ozpropertyguruJoin Date: 2013Post Count: 17]

March 4, 2013 - 12:37 pm

Hey Jamie,

The thing is I don't own anything else. So for the time I'd be living in it & working with people to do it up it would in fact be my primary residence. I think flipping it would be the monetary bonus.

It's good to know that it's totally CGT exempt. 

Cheers,

Sam

[ozpropertyguruMember@ozpropertyguruJoin Date: 2013Post Count: 17]

March 4, 2013 - 9:52 am

Thanks. Yes, it does help.

[ozpropertyguruMember@ozpropertyguruJoin Date: 2013Post Count: 17]

March 3, 2013 - 10:35 am

I attended the 1-day free event and I ended up signing up. I haven't yet received the DVD's though.

Dymphna is really good at selling the dream of being financially independent. However, Steve McKnight really hits you with a all the facts needed.

I haven't been to the bootcamp so I can't really say if she's for real. A week after signing up I called her team. She offered a free coach who gave me a little coaching and said that I need at least 200k to start any type of solid portfolio. That really got on my nerves because there are people that started out with less and have accumulated a lot of wealth. I paid 5k it total for the program and then the coach told me I need 200k to start really investing. Will they then tell me I need more once I have 200k?

She's got a bulletproof sales pitch but I'm still questioning my registration to the program. She is good – I felt the high from attending the event – but is it a gimmick? She did offer a 30-day money back guarantee.

If there are more people that have studied her program I would like to hear from you….

-Sam