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April 28, 2014 - 12:10 am

Sorry about the above format, my ipad won’t allow me to go back and edit!

[SandtrackersParticipant@sandtrackersJoin Date: 2009Post Count: 32]

April 27, 2014 - 10:38 pm

Thanks for that info, do you, or does anyone know of anyone in WA that is doing this sort of stuff?

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April 24, 2014 - 10:34 pm

Hi eVeryone

i am currently getting together details of borrowing capacity to buy an investment and then try and sell with rent to buy/VF.

i note above Tamara that you mention a JV. I am in WA, is there anyone out there willing to look at a JV, if so how would it work? I buy the property in my name, and then my JV partner finds a buyer and negotiates all the terms? Then what is in it for the JV partner long term?

thanks for your help.

trying desperately to get into the property investing market, with currently 1 -ve geared IP to my name, plus PPOR… I tried to sell my IP on rent to buy, and got let down twice, so had to rent traditionally again as mortgage had to be paid, and I couldn’t afford for it to continue to be vacant.

Looking long term to replace my income.

i am time poor at the moment, having last year signed up with Steve Donaldson but couldn’t continue due to time commitments. (Following failure of  my attempt on rent to buy above).

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April 24, 2014 - 9:34 pm

Hi there, am glad this post has resurfaced, as I was also looking at BH for my next investment. I am from WA so it is my 1st time looking interstate.

Can I get your thoughts people, on the following.

i am considering and comparing investing here to perhaps that of a wa mining town – Karratha and surrounds? Any thoughts? It would also be a buy without viewing if it is BH.

i need low risk and money in my pocket each week. I can’t afford for potentially high vacancy rates, due to cf.

Also, I have approximately 90,000 in Super, and wanted to consider smsf?  I believe it is costly to set up, but can someone advise on how it works. Ie as it is a Superfund doing the investing, would I still have access to the +ve CF? or would i need to let it build up again and use as a deposit for another IP?

I also have my ppor valued at say 490,000 and one IP valued at say 400,ooo, with loans of 635,000. Equity therefore of  255,000. Is it better therefore to use my equity here or go the smsf?

We have a household income of around 100,000 PA so would hope serviceability isn’t an issue…

thanks for your help anyone and everyone :)

 

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September 26, 2011 - 11:58 am

Thanks Tracey, sorry I missed the post, I have been sick fit the last 3 weeks. I will check out your website to see if meeting dates are listed on there… If not, can you send me some details.
Also do you know of any one in WA that does VF investing, as this is an area I am interested in.
Thanks
Tracy

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September 16, 2011 - 10:46 am

Hi Paul, we paid 670K for the property, and have spent about 20K putting boundary fence, aircon upstairs and down, plus window treatments in some areas…
We currently have approx. 270k equity based on that price..
We bought 3 years ago… Look forward to some clarity.

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September 16, 2011 - 10:42 am

Hi Paul, thanks for the offer to call you, I have been quite sick and trying to get over pneumonia…. Not good, but I will definitely call you when I am back on my feet.
Thnx again

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September 14, 2011 - 1:36 pm

Just answered my own question regarding the JV split!! Having now read your negative2positive… So another question, I assume we have to go on today’s market prices, when looking at resale, even tho this is under what we paid for the house itself? How much can you add for resale to a new buyer under VF, as oppose to in a normal purchase agreement? What kind of deposit would you ask for a property worth 650K?
Thank you”……… Again

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September 14, 2011 - 1:23 pm

Me again, thank you for that feed back, I am motivated, but also realize there is more to it than just getting an offer, or coming up with the win win figures in the 1st place. I see that 1) I need an ACL as I understand it, I know I then need to find a lawyer to draw up the contract, find a tool or similar that will calculate interest payments, etc etc. Work out how to do credit checks. The list goes on..
I know once I have done it once or twice I will be able to fly with it, I manage my own business, with clients and books, include payroll for a couple of casual workers, and am a very competent person (if I do say so myself) .
As far as selling with A VF’er in WA, do u guys have some one in WA or recommend anyone?
Also, with the 50/50 thing, does that also include 50% from the sale proceeds? Ie say I purchased something new for 380K and we agreed a sale price of 420K, does the JV partner get half? If so, how would this work with our PPR? Would I remortgage that to it’s max before heading into a JV, as all of our equity is sat on that property?
Thanks again. Just going to check your negative2positive sight out.
Tracy

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September 13, 2011 - 1:16 pm

Hi Ryan, the massive pack, does this cover VF stuff, or wraps or similar, as I understood it was mainly lease options? If it does I am interested in it. I am in WA, where are you?
Thanks
Tracy

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September 13, 2011 - 11:15 am

Thanks Paul, it seems I need a lot of experience in this field(that of controlling rather then buying property) in order to move into a cash flow positive life style? I think I am going to try again to sell our PPR and at least get our mortgage down some what. The trouble is, it didn’t sell at the beginning of the year so I am not holding my breath.
On another note, I listened to David and Julie on line a few weeks ago , they seem very down to earth… How come you are not doing these seminars? Seems to be money in just that, as oppose to investing!! Although they are close friends, would u recommend some one like me doing a weekend course or would I be better off going into a couple of JV’s? I understand they started off doing Rick Ottons course? Is that any good do u know?
Thanks for your help along my way so far , much appreciated

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September 13, 2011 - 11:00 am

Thanks for your thoughts Paul and Jason. I am serious about investing and my mind is boggling. My 1st step is to try and sell our PPR whilst we build a newer down sized PPR. If it doesn’t sell then I will look at selling using VF. Although this will still leave us with a big mortgage, yet with some +ve CF to assist. I then will look at my other investment which is only 3 months into a 12 month lease, to put that on VF closer to the time. Creating CF is my 1st aim, then buy and hold… Would love to find a local mentor to assist as 50% in a JV is quite high don’t you think?

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September 8, 2011 - 2:16 am

Thanks Sherry and JAson, glad I am in the right hands.!

Now Paul, I am just a little confused, just a little mind you .
If I were to buy my next property on VF is it possible to still get +CF from it. I will already be paying higher than normal mortgage payments on it, so if I rent it out, I would have thought that it isn’t likely to return +ve or am I able to then on sell it on VF terms..
I know down the track I really need to learn more, and become at lot more creative. I just want to be able to move on following these 1st 2 properties in the short term..
By the way have you heard of David Siacci and their investing? From what I have read, it is VF with a twist, and more on control of property than buying? What are your thoughts?
Thanks again
Tracy

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September 6, 2011 - 6:07 am

Thanks again Paul, seems we just have a 2 way forum going here .
If I could get 1000 pm +CF on both, then that would hugely assist paying towards my mortgage on the newly built PPOR, the only other issue that I would then need to clarify, is where do I stand in obtaining my next IP, as I would not have a deposit for 1. I am happy to sit with just the 2 in the short term, but how do I go about securing my next one?
My short term goal is to do VF deals to eventually replace our incomes, then I will incorporate buy and hold properties for long term wealth.
Hope you can help on this too?
Thanks again for all your help.
Tracy

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September 5, 2011 - 12:41 pm

Thanks Paul, I will hold onto the IP til closer to when the lease is due, and I may approach the tenants 1st. With our PPOR, I am looking at using 100k from it for our next house, and then using 50-70k for our next IP. However if I went VF with our PPOR I would need both that and our initial IP to bring me a reasonable +CF to sustain our new mortgage.
Can i ask you therefore Is it reasonable to get some one on VF for a property worth close on 650K?
If I were to keep both properties and live in the new one that I am building, is it reasonable to say expect about 200PW +CF from both put together.
When I worked a little calculation, with a min deposit from both and. +2% on top of the interest rate that I am paying, I personally think the repayments for both would be too high? But that is just me and I understand the mind set of some one wanting to own their own home is completely different to mine.
Would appreciate your advice on your own experience with these values and likelihood of success before I consider putting this home on the market.
Thanks again
Tracy

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September 4, 2011 - 11:36 am

Thanks again Paul for your help. I know you guys do JV deals.. Do you consider deals in Perth? My current investment has only had tenants in for 2 months on a 12 month contract. I was hoping to sell our ppr so we can reduce the debts on our next ppr which we are building. Our ppr is worth about 620 and our investment about 370 in today’s market. Is it worth us trying VF on both do u think? Do I need a ACL to do a deal either in joint venture or when I go alone? Look forward to hearing back from you.
Tracy

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September 3, 2011 - 2:08 am

Just another quick query on this issue too, I assume after a few houses you will not have much equity to continue purchasing, so how do you continue to get houses to offer a VF option?

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September 2, 2011 - 3:38 am

Thanks for your information Paul.. Myself and partner have our own business so I can spend as much or as little time on this as possible. Our business is quite manually intensive, and I have always been interested in property as my #1 income, but have never done anything about it. I now want it to eventually replace our business income – however long that takes.. Having set this business up 10 years ago, both of us working full time as well as setting up business, it know the feeling of the day when you can both quit your paid employment… I have always said also that I am not out there to rip anyone off, just want enough to pay for my day to day living..

Now I want a better liefestyle, without working so hard

to start off with, do I need to get a licence or register with any one before I start. I am interested in the Instalment contracts way, altho I havent read much about lease/options, and will do so in next few weeks.

Are there any sites or products I could check out to give me a full run down on it all. I know Steve used to do a Wrap pack many years ago??

I know there are a couple thru The Results Programme that are offering a weekend thing for about 4K, but I cant get to Melbourne at that time.

Really Appreciate your help
regards
Tracy

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October 31, 2010 - 1:00 pm

Hi There

Could you explain more about where you say the developer pays interest where the deposit funds are relaeased?  If we purchase an off the plan house/land package, where does this come in that the developer pays you interest?

thanks

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October 24, 2010 - 1:55 pm

jlb2431 wrote:

Hi Aloha,

The FHOG only applies if the parties (including a partner) havent entered into the property market before.
 
But there is other government goodies that I am currently taking full advantage of but runing them negative geared at the moment, that is building  new homes off the plan in new developements. I just find a simple reasonable priced block (hard to find, but they are there) then building just the most basic 3-4bed, double garage, with the creature comforts of a basic ensuite and built-ins. I've built two and there almost neutral geared (IO loans), my first cost me $349k and rents for $430/w from the moment it was complete, the property value is now $410k, according to the realestate.
 I only paid stamp duty on the blocks and with the goverments cutting the stamp duty in half for new homes it made the costs in settlement fee's alot easier. I also claim full tax depreciation on the properties and no worries of to many hidden costs after the home is complete ie, hotwater system failing and it has a seven year stuctural warranty.  
I am currently looking around the outer towns of Melbourne or Brisbane for my next investment which I would like to start in the begining of the next financial year (when we are cashed up) and have noticed alot of developers in these areas advertising deals.
Thats just a little food for thought and it's not for everybody as it can lead to larger dept, but it's suiting me at the moment. Just do your homework before jumping in to deep.

Regards
J

Hi J

When you mention building and finding deals from developers – I find they generally would sell you the block at the same time – or are you referring to builders? I have bought a few blocks and built on them, but for some reason or another have had to always sell them when complete. I have however alwas found the block myself and then a builder as oppose to a developer?

Can you give me more info on your projects, as this is a path I would like to continue to take – I have a house on the go at the moment.
thanks