Total Members: 158,283

TaylorChang

  • Maybe tell us what you want to achieve and what’s your current situation here.
    then we can see how to help you.
    Because maybe what you see no opportunity, other may see great potential.

    we all here to help and learn :)

  • TaylorChang replied to the topic renting vs home occupier in the forum Help Needed! 8 years, 5 months ago

    It’s all depend on what you want in life.

    Some people like to live their own home where there is an emotional value in it.

    Some people happy just to rent and buy an investment property.

    At the lending and servicing calculation point of view, in general, renting gives more borrowing power than buying your own home to live in.

  • TaylorChang‘s profile was updated 8 years, 5 months ago

  • TaylorChang replied to the topic Personal Loan for Deposit and 0% credit card balance transfers in the forum Finance 8 years, 5 months ago

    Hi Richard,

    It is exciting to know you are launch No Deposit Housing Pty Ltd.

    I got a few inquires in no deposit with good income in the last a few months.

    Looking forward to hear more about it

    Cheers :)

  • TaylorChang replied to the topic bad credit in australia. in the forum Overseas Deals 8 years, 6 months ago

    Bad credit not necessary kill the borrowing.

    If it is long time ago, say 5+ years ago, then you still have good chance to get the lending from the major lender(s), providing you have been paying all the creditor(s) on time …etc.

    Just like Jamie mentioned above, it’s all come down to what’s on your credit file.

  • TaylorChang‘s profile was updated 8 years, 6 months ago

  • TaylorChang replied to the topic Poll: What makes a better property investment? in the forum Opinionated! 8 years, 7 months ago

    This is a very interesting poll.

    I often found some people paying too much for the old and tired property in comparison with existing recently renovated property.

    Sometimes, people over estimated their ability to renovate but under estimate the existing renovated property value.

  • TaylorChang replied to the topic Vendor Finance 101 – Help Needed! in the forum Finance 8 years, 9 months ago

    What you can do is to negotiate with the buyer on all the terms&condition and price.

    Once both of you agrees on thing(s) put down in writing, then use it as a draft to form a formal legal agreement by a solicitor.

    Make sure your contract is done by a solicitor who has experience in vendor finance.

  • TaylorChang‘s profile was updated 8 years, 9 months ago

  • TaylorChang changed their profile picture 8 years, 9 months ago

  • scha9799 replied to the topic selling a property that has fallen in value in gladstone in the forum Help Needed! 8 years, 9 months ago

    Hi Daniel,

    It’s painful to watch the negative cash flow draining your hard earning money….

    I sold a negative cash flow property before. But it was in Sydney suburb area. I sold it at low price and now look back I should have keep it for a few more years then I will be laughing now.

    However, having said that, Gladstone is totally different…[Read more]

  • scha9799 replied to the topic Wasting Time in the forum Finance 8 years, 10 months ago

    I think respect and understanding are the keys.

    A basic understand all the professional regardless, agents, brokers, accountants, builders….. we all need to respect people’s time and effect.

    Connect with right people, people with passion on what they offering.
    Clearly time waster or people just want to cut other people’s deal is not really…[Read more]

  • scha9799 replied to the topic Looking for Mort broker in the forum Finance 8 years, 11 months ago

    Why not give Jamie a call see if he can help you.

  • TaylorChang‘s profile was updated 8 years, 11 months ago

  • scha9799 replied to the topic New member- lots of questions! in the forum Help Needed! 9 years, 1 month ago

    Hi Paul,

    Sorry to say, I think you took the depreciation and capital works incorrectly.

    Let’s put all the tax, depreciation and capital work aside.

    Just look at the simply figures rental income, interest and loan amount for now
    say interest rate is @ 5% for all 4 properties.

    Given that you said from the first post.
    P1) Rent 350 * 52 = 18,200…[Read more]

  • scha9799 replied to the topic Becoming a mortgage broker in the forum Finance 9 years, 1 month ago

    thank you guys

    Sound like I need to focus on getting it, rather than finding the way to get around it.

  • scha9799 replied to the topic Mortgage Broker Fees in the forum Finance 9 years, 1 month ago

    Was fee charge disclosed up front ?

    Ask your broker what is the fee charge for ?

    How complex is your financial situation ?
    All I know is if you are dealing with investment banking area of finance, you are expecting to pay consultation fee. ( I am talking about big time investors, high net worth investors)
    however, this is not normal for…[Read more]

  • scha9799 replied to the topic New member- lots of questions! in the forum Help Needed! 9 years, 1 month ago

    Hi Paul,

    Put it simply, positive cashflow is a concept which mean more money coming in than the money going out.
    Tax (depreciation and capital works) is just paper lost which can help cashflow be more positive.

    From the above number, say without counting property 4(PPOR), you are about -1,877pa or -36.10pw. After depreciation and capital works,…[Read more]

  • scha9799 replied to the topic Becoming a mortgage broker in the forum Finance 9 years, 1 month ago

    Thank you for the above,

    Just out of my curiosity, currently, I am working in the financial service industry (fund management) and with finance degree. Do you guys think I can get an exemption from doing the certificate or diploma course to get the MFAA or FBAA ?

  • scha9799 replied to the topic New member- lots of questions! in the forum Help Needed! 9 years, 1 month ago

    Hi Paul,

    Assuming the interest rate for your properties are around 4.6% – 4.8%, Your portfolio should be cashflow positive or at least neutral.

    Just wondering when you said selling property to paying off “bad debt”, what do you mean by “bad debt” ? and what sort of interest rate are you paying for the “bad debt” ? also how much do you owe for…[Read more]

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TaylorChang

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