[TaylorChangParticipant@scha9799Join Date: 2009Post Count: 234]

June 10, 2016 - 6:11 pm

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 | Finance Broker
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[TaylorChangParticipant@scha9799Join Date: 2009Post Count: 234]

October 22, 2015 - 2:50 pm

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 | Finance Broker
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[TaylorChangParticipant@scha9799Join Date: 2009Post Count: 234]

October 22, 2015 - 11:25 am

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 | Finance Broker
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[TaylorChangParticipant@scha9799Join Date: 2009Post Count: 234]

October 12, 2015 - 2:47 pm

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 | Finance Broker
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[TaylorChangParticipant@scha9799Join Date: 2009Post Count: 234]

August 21, 2015 - 11:35 am

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 | Finance Broker
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[TaylorChangParticipant@scha9799Join Date: 2009Post Count: 234]

July 5, 2015 - 11:41 pm

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 | Finance Broker
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[TaylorChangParticipant@scha9799Join Date: 2009Post Count: 234]

July 5, 2015 - 10:48 pm

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 demographics and economic from Sydney.

Alternatively, maybe you can try to sell it at vendor finance term to minimize some loss.

I hope this help

TaylorChang | Finance Broker
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[TaylorChangParticipant@scha9799Join Date: 2009Post Count: 234]

May 23, 2015 - 4:22 pm

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 welcome anywhere.

I have respect with many brokers and other professional on the forum.

I would encourage people do an initial interview with professional, after that choose one or two, then focus the energy on something else, let the professional doing their job.

After all, investing is about team work to go for the same direction, not to waste time of blaming or changing a good team then forget the big picture ahead.

TaylorChang | Finance Broker
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[TaylorChangParticipant@scha9799Join Date: 2009Post Count: 234]

May 18, 2015 - 6:14 pm

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

TaylorChang | Finance Broker
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[TaylorChangParticipant@scha9799Join Date: 2009Post Count: 234]

February 17, 2015 - 9:43 pm

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 ; owe 240,000 * 5% = 12,000 ; So net is 18,200 – 12,000 = 6,200
P2) Rent 450 * 52 = 23,400 ; owe 304,000 * 5% = 15,200 ; So net is 23,400 – 15,200 = 8,200
P3) Rent 500 * 52 = 26,000 ; owe 190,000 * 5% = 9,500 ; So net is 26,000 – 9,500 = 16,500
P4) Rent 0 * 52 = 0 ; owe 350,000 * 5% = 17,500 ; So net is 0 – 17,500 = -17,500

3 properties
6,200 + 8,200 + 16,500 = 30,900

PPOR
-17,500

Hence, 30,900 – 17,500 = 13,400
Overall, your portfolio is still positive.

If take the maintenance fee, management fee, a few weeks of vacancy… I would expect your portfolio are still in a positive or at least neutral position.

If you take tax, depreciation, capital work into account, then your portfolio will be stayed in a positive cashflow position.

If you confused about the concept of tax, depreciation, capital work, I would suggest DON’T look at it at all.
Do your number on interest charge on loan from your bank statement, and the rental income from your rental statement.
All them up for all the properties for the past year, then you should be able to see for your cashflow.

I hope this help :)

TaylorChang | Finance Broker
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[TaylorChangParticipant@scha9799Join Date: 2009Post Count: 234]

February 17, 2015 - 6:23 pm

thank you guys

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

TaylorChang | Finance Broker
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[TaylorChangParticipant@scha9799Join Date: 2009Post Count: 234]

February 17, 2015 - 6:18 pm

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 retail or small investor.

TaylorChang | Finance Broker
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[TaylorChangParticipant@scha9799Join Date: 2009Post Count: 234]

February 17, 2015 - 7:40 am

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, your number is +16,998pa or +326.88pw. Positive Cashflow.

PPOR with 350,000 on 5% interest is about 336.53pw interest payable .

The portfolio( property 1,2,3) bring in (+326.88pw) and PPOR out ( -336.10pw), overall, is just say -10 pw which is negligible.
Your PPOR is not a “bad debt”, is just not an income producing debt at this stage.

To me you are in a good cashflow position, there is no need to sell.

• This reply was modified 9 years, 2 months ago by  TaylorChang.

TaylorChang | Finance Broker
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[TaylorChangParticipant@scha9799Join Date: 2009Post Count: 234]

February 16, 2015 - 12:16 am

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 ?

TaylorChang | Finance Broker
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[TaylorChangParticipant@scha9799Join Date: 2009Post Count: 234]

February 15, 2015 - 11:40 pm

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 the “bad debt” ?

TaylorChang | Finance Broker
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[TaylorChangParticipant@scha9799Join Date: 2009Post Count: 234]

February 14, 2015 - 12:51 am

Hi all,

I have been thinking becoming a broker for a long time, and finally this I enrolled myself Certificate 4.

Just wondering what is different between MFAA and FBAA ? ( all I know is MFAA needs diploma and FBAA just required Certificate 4) ?

What about the aggregator ? Does most of the aggregator require to brokers to have MFAA or FBAA ? or it does not really matter ?

Thanks in advance

• This reply was modified 9 years, 2 months ago by  TaylorChang.

TaylorChang | Finance Broker
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[TaylorChangParticipant@scha9799Join Date: 2009Post Count: 234]

January 24, 2015 - 10:27 am

I did it before.

Nothing wrong, a broker set up for me.

TaylorChang | Finance Broker
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[TaylorChangParticipant@scha9799Join Date: 2009Post Count: 234]

December 31, 2014 - 7:24 am

It’s a very inspirational story !

Thank you for sharing :)

TaylorChang | Finance Broker
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[TaylorChangParticipant@scha9799Join Date: 2009Post Count: 234]

December 12, 2014 - 10:32 am

Hi,

I read a lot, talk to people in the industry a lot, listen to all the good, bad and ugly about so called “mentor”, “coach”, “expert”. I learnt a lot over the years.

There is no right or wrong way to invest in property.
A lot of time, I found it’s just “common sense”, not the “rocket science”.
Just get on realestate.com find a property within your budget and call the agent, start the conversation then follow up …

Somehow, people forgot about the “common sense”, especially when there are many jargon and terminology used.

I totally agreed what Steve said ” The wealth creation industry is filled with people who talk a good game but have never been on the field.”

There are many people with knowledgeable and willing to share their knowledge on these forum, like Steve and Nigel. Maybe have a chat with them.

• This reply was modified 9 years, 4 months ago by  TaylorChang.
• This reply was modified 9 years, 4 months ago by  TaylorChang.
• This reply was modified 9 years, 4 months ago by  TaylorChang.

TaylorChang | Finance Broker
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[TaylorChangParticipant@scha9799Join Date: 2009Post Count: 234]

November 5, 2014 - 1:05 am

I see, thank you for the information.

TaylorChang | Finance Broker
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Home loan | Commercial loan | 0414 691 517