Total Members: 158,197

propertypower

  • propertypower replied to the topic My parents are looking to buy their first IP??? in the forum Hi rich richie,I would go 16 years, 5 months ago

    Hi rich richie,I would go with Terry's 3rd option because with a cash settlement they might have a better negotiation power and may be able to buy a property at a discount. The Sydney market is still struggling and there are plenty of discount opportunities. Assuming they are able to buy something at around 15% below valuation (which is…[Read more]

  • propertypower replied to the topic Finance options for a recent migrant to Australia in the forum Finance 16 years, 5 months ago

    thanks Terry

  • propertypower replied to the topic CF+ Spotting Services? in the forum Help Needed! 16 years, 5 months ago

    Hi MG,There are a number of sites that offer annual subscription (e.g http://www.positiverealestate.com.au, http://www.cashflowcapital.com.au, etc). The best thing is for you to do your own search/research.Alternatively, you can pay me spotters fees and I will send you listings :)

  • Hi ao,I think it depends on the intent of the person giving you advice. If they are trying to sell you something or will receive some financial benefit from the advice then they should be appropriately licensed to provide you the advice. if its just an opinion and not directed towards your specific circumstances then it is different.Besides, it is…[Read more]

  • propertypower replied to the topic Found that elusive positive cash flow property… finally in the forum General Property 16 years, 5 months ago

    hi hgwells,Its great to hear you found a positive cash flow property. As you said, they are still out there….it requires more research and sometimes bit of creativity to create the positive cash flow.Once again, congratulations and good luck for the future.Happy investing!!

  • propertypower replied to the topic Retirement villages in the forum Help Needed! 16 years, 5 months ago

    hi pearl81,Welcome to the forum.I had looked at the opportunity sometime last year but dropped the idea due to the following reasons:* Limited capital growth* Low LVR (around 65%-70%)* You cannot add value to the property because you cannot do anything with the investment. The only option is to lease it to the retirment village management* The…[Read more]

  • propertypower replied to the topic Should I sell? in the forum Help Needed! 16 years, 5 months ago

    Hi pgebara,It depends on how much equity you have in the property? You need to consider selling costs and CGT if you were to sell.What do you intend to do with the cash after you sell? Assuming you will use it for further investing, I don't think you need to sell the property. Maybe look at drawing the equity out from your property and use that…[Read more]

  • propertypower replied to the topic Which property should I pay off first? in the forum Help Needed! 16 years, 5 months ago

    Hi Dan,There are few things you should do:1. Change the loan on Property #1 from P&I to IO.2. Remove the cross-collateralisation on your propert & block of land.Given the loan amount on property #2 is higher than the market value, it might be a good idea to start parking your spare cash in it.

  • propertypower replied to the topic Cash Vrs Loans in the forum Help Needed! 16 years, 5 months ago

    Hi Kurn,First of all, you should pay off any bad-debts (car loan, credit card, store cards, etc.)You should consider diversifying between property and share market (may be 2/3, 1/3 split).With property investment, I think you should look buying more than one property. Use some of your cash for deposit and closing cost and get IO loan for the rest.…[Read more]

  • propertypower replied to the topic cesar loan in the forum Help Needed! 16 years, 5 months ago

    Hi,I am not 100% sure but I think they are non-conformance loans.

  • propertypower replied to the topic Real estate sign boards in the forum General Property 16 years, 5 months ago

    Hi Carol,If you are considering selling your property, you want as many prospective buyers as possible. Having a sign board with some photos makes it more visible to people and therefore creates awareness and demand.

  • propertypower replied to the topic getting more out of equity in the forum Help Needed! 16 years, 5 months ago

    Hi Wade,Couple of options you may want to consider:Option 1: Get the DA to add value, continue living in it and use the equity to buy an IP#1. Option 2: Get the DA to add value, convert your PPoR to an IP and start renting, use the equity in the current property to buy IP#2.

  • propertypower replied to the topic Best use of cash and equity in the forum Finance 16 years, 5 months ago

    hi Peter,First of all, congratulations on having a great cash/equity position.I agree with the comments above but I think serviceability might become an issue. I don't know how much your wife will earn when she starts the new job but on your income there will be some challenges.I think you should invest your cash in some good income generating…[Read more]

  • propertypower replied to the topic How to estimate current property value in the forum Help Needed! 16 years, 5 months ago

    Hi bsguptaIt depends on whether you want the valuation to be done to find out market valuation or valuation for lending purpose.For market value, have a look at the newspaper to see what similar properties in your area sold for. The Herald Sun has all sales data every week (on Monday or Tuesday). Alternatively, you can contact some property agents…[Read more]

  • propertypower replied to the topic how long? in the forum Help Needed! 16 years, 5 months ago

    Hi Nathan,As long as your property qualifies the "main residence' test as per ATO, capital gains tax will not apply.Below is an excerpt from ATO website on the concept of "main residence"The following factors may be relevant in working out whether a dwelling is your main residence: * the length of time you live there – there is no minimum time a p…[Read more]

  • propertypower replied to the topic general investment advice in the forum Help Needed! 16 years, 5 months ago

    Hi cqblove,Firstly, congratulations on your excellent job.You should probably start witth high capital growth investments even if they are negatively geared. With your income and big tax bill, couple of negatively geared properties won't hurt (too much). Then to balance the portfolio buy some couple of cash flow positive properties. You should…[Read more]

  • Hi Ming,It depends on what your plans are – how long can you keep servicing the negatively geared properties? Are you closer to retirement and therefore need some cash flow from the properties?The other thing is, at 60% LVR, your properties should be getting close to cash flow neutral to positively geared. Make sure your are getting market rent…[Read more]

  • propertypower replied to the topic finance clause in the forum Legal & Accounting 16 years, 5 months ago

    I think Fri 19/10 will be the 21st day. If his solicitor did not request for an extension for finance clause and assuming all other conditions of purchase are met, your contract should be considered unconditional from Sat 20/10.

  • propertypower replied to the topic The Bank valuation in the forum General Property 16 years, 5 months ago

    Hi Ben,You should do more research on the valuation of the property. Maybe you offered too much. Has the vendor done major capital improvements to the property? Because the valuers have to base their valuation on comparable sales, there may not be anything directly comparable.Assuming, in your offer to purchase the property you included the clause…[Read more]

  • propertypower replied to the topic Insight Financial Group in the forum Heads Up! 16 years, 5 months ago

    thanks Marc, for posting stories about such shonksters

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propertypower

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