PropertyInvesting.com | siacci | Activity https://www.propertyinvesting.com/members/siacci/activity/ Activity feed for siacci. Thu, 16 Apr 2026 09:11:43 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 1441edb9240db81257f5d80ba2521bff siacci replied to the topic Handyman Special in the forum Creative Investing https://www.propertyinvesting.com/topic/4393455-handyman-special/#post-4588712 Fri, 13 Jun 2008 21:33:10 +0000 Hi Brad,Your basically got it. You get a house that needs a reno. This does not generally include structure work as Mums and Dads cant do this work themselves. The one that was done on Hot Property was bought at a cost of 285. It was estimated the work would cost 35k or so.  The buyers were offered the house at 340 and would be given a "sweat…[Read more]

]]> 610fcf35cb257509b4cb83f16c823d52 siacci replied to the topic Interest Only Loans in the forum Creative Investing https://www.propertyinvesting.com/topic/4384982-interest-only-loans-14/#post-4544928 Thu, 13 Apr 2006 07:50:36 +0000 I use your product for P+I but have to use the excel sheet for IO and Honeymoon rates.

I would like to see these options in your product.

Dave Siacci

]]> 9897ef49589cef8b5ce6df3edae64bee siacci replied to the topic Adverse ruling by Tribunal for wrappers in the forum Creative Investing https://www.propertyinvesting.com/topic/4385060-adverse-ruling-by-tribunal-for-wrappers/#post-4545324 Thu, 13 Apr 2006 07:45:17 +0000 I found this article very good reading. It points out very clearly (to me in particular) that you must do your due diligence on your potential client. You must ensure you check that they are able to meet thier repayments. You cannot just put anybody into a vendor finance contract and think “she’ll be right”. You have an obligation to do the right…[Read more]

]]> 500dad5bb7d4ab19790ff625a0e5f869 siacci replied to the topic Software in the forum Creative Investing https://www.propertyinvesting.com/topic/4384868-software-8/#post-4544268 Sat, 01 Apr 2006 09:32:09 +0000 I use Rent Manager for my rentals, a combination of Loan Alert and Excel for my wraps and Excel for 2nd mortgage carry backs.

Dave Siacci

]]> f6b79deac483669886b76e9070054c50 siacci replied to the topic Need help with WRAPS in the forum Creative Investing https://www.propertyinvesting.com/topic/4384755-need-help-with-wraps/#post-4543782 Sat, 01 Apr 2006 09:26:50 +0000 Rick Ottonn still sells his wrap pack. I have used his metod for 4 years now and have done well.

Dave Siacci

]]> f26f55b30309704b3efe89e3ff7f0815 siacci replied to the topic Wrapper required in the forum No Subject https://www.propertyinvesting.com/topic/4381753-wrapper-required/#post-4526716 Tue, 23 Aug 2005 12:22:20 +0000 the best place to start would be in the local paper classifieds for the areas you want live. Most vendor finance homes are advertised this way.

Furher to the comment by “Nat R”, you should not read and reply to posts that require the skills and brains required to make an educated and informed comment ouside your area of comfort. Not all people…[Read more]

]]> 758c733b0deef5528353625a4d86fab5 siacci replied to the topic no job, no loan :( in the forum Finance https://www.propertyinvesting.com/topic/4379963-no-job-no-loan/#post-4513943 Sat, 30 Apr 2005 03:26:21 +0000 Have you considered the possibility of buying on a lease option?This way you don’t need to rely on the banks…just to get started!The second possibility is to do a joint venture with someone who does have a job and a deposit but not the time or the knowledge to do their first investment.You share the profits giving you the chance to be in the…[Read more]

]]> 76d24120416c5a0fb42adb7dcd0dba42 siacci replied to the topic Do you pay GST on a PPOR? in the forum Help Needed! https://www.propertyinvesting.com/topic/4375643-do-you-pay-gst-on-a-ppor/#post-4487538 Tue, 24 Aug 2004 08:08:15 +0000 To the best of my knowledge NO.The advertised price should be GST incusive. You dont pay it the builder does.

Dave

]]> cb878babe1e37eb825aaf1227814fa79 siacci replied to the topic FHOG Application in the forum Creative Investing https://www.propertyinvesting.com/topic/4375580-fhog-application/#post-4487241 Thu, 19 Aug 2004 10:21:14 +0000 No you are not considered an approved agent. You need to get them to sign the FHOG docs, provide photo copies of Photograhic ID eg licence, a stat dec signed by yourself saying they have taken possession of the property and a bill with their name and new address on it. Put it all in an envelope and post it to the State Revenue Office. Takes about…[Read more]

]]> e80107670f61d255e1b2f92bbdf348f6 siacci replied to the topic Wraps, how much down? in the forum Creative Investing https://www.propertyinvesting.com/topic/4375530-wraps-how-much-down/#post-4486932 Thu, 19 Aug 2004 10:15:51 +0000 The security for the loan must be stand alone. If you want to use capital gains from another property you own you will need to extend that loan, draw the money in cash and use it for the property you intend to wrap.

David Siacci

]]> 81c3088eba4c9e1c57d81540391f748f siacci replied to the topic Wrapper Media Clippings in the forum Creative Investing https://www.propertyinvesting.com/topic/4375436-wrapper-media-clippings/#post-4486185 Wed, 18 Aug 2004 08:57:05 +0000 Vendor wraps association website at http://www.financewraps.asn.au/

Dave Siacci

]]> 80088c5f17e0e5cb6b02af357fe397c3 siacci replied to the topic Wraps, how much down? in the forum Creative Investing https://www.propertyinvesting.com/topic/4375530-wraps-how-much-down/#post-4486928 Wed, 18 Aug 2004 08:53:31 +0000 Keep in mind that you can not cross securitise the the loans for a wrap property. It must be a stand alone financial arrangement. (In Victoria anyway)

Dave Siacci

]]> 74773b91b84d7633589fee225c98b9f7 siacci replied to the topic Cross Colateralisation in the forum Finance https://www.propertyinvesting.com/topic/4375062-cross-colateralisation/#post-4483374 Wed, 04 Aug 2004 06:43:57 +0000 RE MortgageHunter
In some cases brokers commission is based on the size of the loan they write. Cross collateralising gives them a bigger loan as they can include all properties they can. Happened to us. Westpac actually redid all the loans back to stand alones 2 months later. The manager at the bank told me about the commission set up. It comes…[Read more]

]]> 3073b3e3ad09ff071070e9c783f81d33 siacci replied to the topic Wrap Deal in the forum Creative Investing https://www.propertyinvesting.com/topic/4375274-wrap-deal/#post-4485128 Mon, 02 Aug 2004 05:38:45 +0000 The amount you add to the price of the house is dependant on the price you paid and the exit strategy you have for your buyers. If you plan to have them refinance sooner rather than later then the sales price needs to be lower (very close to market value). As far as intrest rate goes you can charge upto a 2% or more if the funds you have for your…[Read more]

]]> b248b143a413b8050fc2035fb50e9149 siacci replied to the topic Repayment Schedule for Wrap in the forum No Subject https://www.propertyinvesting.com/topic/4375261-repayment-schedule-for-wrap/#post-4485078 Sun, 01 Aug 2004 09:07:10 +0000 Just to work out the payment many banks have calculators for this on thier websites. If you plan to do a few wraps then Loan Alert is a program designed to track your purchasers loan. Check out the demo version before you decide to buy at http://www.loanalert.com.au . We have found it quite useful.

Dave Siacci

]]> 7fcf9bbe6ec9c32399a231f6c2a77b05 siacci replied to the topic Incentives to help sell a property in the forum No Subject https://www.propertyinvesting.com/topic/4375210-incentives-to-help-sell-a-property/page/2/#post-4484717 Thu, 29 Jul 2004 06:07:43 +0000 Lease option it to some yuppy with high income and low net worth. Charge a premium for the unit on price but get excellent cashflow along the way. Make the payment high enough that they can refinance within a few years . Otherwise finance them the 10% deposit at a reasonable interest rate on an unregistered second mortgage(and caveat) for say 3-5…[Read more]

]]> dff765e5017f656e8157c2d1797822ef siacci replied to the topic what happens when selling for loss in the forum No Subject https://www.propertyinvesting.com/topic/4375197-what-happens-when-selling-for-loss/#post-4484312 Wed, 28 Jul 2004 08:29:06 +0000 You can off set the loss against any future capital gains. The loss carries over. Why dont you consider selling it on a wrap or lease option instead. You could then sell it for what it owes you and have cashflow till the tennantpurchaser refinances. Beats a loss.

Dave siacci

]]> ef742b7f130e7830b5e8dcdde358ca41 siacci replied to the topic Commercial loan in the forum Help Needed! https://www.propertyinvesting.com/topic/4375105-commercial-loan/#post-4483689 Wed, 28 Jul 2004 07:22:01 +0000 Maybe you could get them to finance you the deposit amount you need.

Dave Siacci

]]> 61bf583aff76596f953bad78caa034fc siacci replied to the topic your advice in the forum Creative Investing https://www.propertyinvesting.com/topic/4375195-your-advice/#post-4484291 Wed, 28 Jul 2004 07:12:40 +0000 I have attended a few seminars and found you learn heaps from being ther. BUT unless your going to put the information to work you are wasting your money. I went Ricks boot camp last year after completing 5 wraps in the 10 months prior. I did 7 more in the follwing 6 months due the information I learned at the wrap camp. I did it better and more…[Read more]

]]> 91a3f56d537c3eb0035e1c28741868bb siacci replied to the topic Jenmans Challenge in the forum Heads Up! https://www.propertyinvesting.com/topic/4375052-jenmans-challenge/page/2/#post-4483326 Tue, 27 Jul 2004 11:52:31 +0000 I believe Robert Allen has been investing in real estate in America for well over 20 years. He has also been doing seminars in America for a lot of years. If he wants to sell his information then the market will quickly decide if he is worth it or not. I go to seminars regularlly, some good, some shockers. They all cost money but without attending…[Read more]

]]> 2bd0d7cd2067b187013668e28c87a6a9 siacci replied to the topic Adding personal loans to a Wrap contract in the forum Creative Investing https://www.propertyinvesting.com/topic/4375141-adding-personal-loans-to-a-wrap-contract/#post-4483965 Mon, 26 Jul 2004 05:06:19 +0000 I would not do it. They may think this is an easy way to pay off the personal loan and then skip town. Put them on a lease option and they can go into a wrap when they have repaid the debt or tell them to come back when it is repaid and you can sell them another house then. Dont be someones free meal ticket.

Dave

]]> 6cbf9567117e670af6ab6a9744ee40e0 siacci replied to the topic Credit Checks in the forum Creative Investing https://www.propertyinvesting.com/topic/4373924-credit-checks-3/#post-4475176 Thu, 27 May 2004 08:45:32 +0000 Type a letter from the client to the agent authorising you acess to thier rental history. Get the client to sign it and give it to the agent. If they will not sign it then they must have something to hide or do not really want a home. If they whine some more then ask them if you can borrow $200K with no supporting data and on trust alone. Bet they…[Read more]

]]> cde37c410996b1527beb1a53e5309dbd siacci replied to the topic Recalculating loan wrap loan repayments in the forum Creative Investing https://www.propertyinvesting.com/topic/4374026-recalculating-loan-wrap-loan-repayments/#post-4475957 Thu, 27 May 2004 08:39:13 +0000 I do the calculation on the original loan amount not the amount owing also. Thats how the bank does mine to them so thats how I do it for my wrap clients.

Dave

]]> e4f1146fb5c895a55f720538f58f1616 siacci replied to the topic new investor in the forum Help Needed! https://www.propertyinvesting.com/topic/4374061-new-investor-5/#post-4476236 Thu, 27 May 2004 08:34:12 +0000 Yes you can. All you do is get a valuation done when you move in. The capital growth while renrted is taxable. Caital growth in an owner occupied property is not. The tax is only paid when you sell. Hope this makes sense.

Dave

]]> d8c4a05ddf6852122b16c4899b99d9cf siacci replied to the topic When do you get the electricity connected?? in the forum Creative Investing https://www.propertyinvesting.com/topic/4373818-when-do-you-get-the-electricity-connected/#post-4474514 Fri, 21 May 2004 03:10:23 +0000 I connect nothing. When you go to purchase the property you can check these things.

]]> 4ba879f5c5c7cc90e6b820b63724b03a siacci replied to the topic Integrity? in the forum General Property https://www.propertyinvesting.com/topic/4372620-integrity/#post-4465786 Tue, 06 Apr 2004 06:38:57 +0000 Integrity works both ways. If you are not comfortabe with them as tennants then be less comfortable with them as purchasers under a terms contract. You seem to have a problem with wraps, if that i s the case stick within what you are comfortable with. Cash is cash and it ONLY cash, nothing else.
I would you choose, good tenants with great history…[Read more]

]]> 98e53f3dfdc5746107f15851deac17ad siacci replied to the topic Hot Auctions! in the forum General Property https://www.propertyinvesting.com/topic/4372609-hot-auctions/#post-4465713 Mon, 05 Apr 2004 07:33:13 +0000 Went to 3 auctions on the weekend and we were the only ones there. The auctioneers at 2 put in vendor bids above what we would pay anyway. The 3rd was a joke. There was one guy put in a bid 5k over the vendors bid and they then went around trying to con people into paying more. Not vey ethical in my book. A bid is a bid, either they should pass in…[Read more]

]]> 73f01a3e701e28137b3e88bea397a739 siacci replied to the topic Paying Out A Wrap in the forum Hotch Potch https://www.propertyinvesting.com/topic/4372575-paying-out-a-wrap/#post-4465465 Mon, 05 Apr 2004 06:48:51 +0000 If a wrapper alowed his loan to be more than the purchasers loan then the wrapper is acting illegally. The courts would slaughter the wrapper on the spot.

Dave

]]> 5d1bd7649f47fd8f89a74cf390b4eaa7 siacci replied to the topic Property Inspections in the forum General Property https://www.propertyinvesting.com/topic/4372420-property-inspections/#post-4464258 Mon, 29 Mar 2004 10:14:36 +0000 I have used Norman Gledhill. He is in the Franskston area but travels around a fair bit. I have preferred ex builders as the hands on experience from them is based on experience.

Gledhill N H Quantity Surveyor & Building Consultant
2 Jamboree Ave Frankston VIC 3199
ph: (03) 9781 1253 Quantity Surveyors

Dave

]]> 779143f12b96caf60a8244c861563a80 siacci replied to the topic Buying properties for wrapping in the forum Hotch Potch https://www.propertyinvesting.com/topic/4372410-buying-properties-for-wrapping/#post-4464144 Mon, 29 Mar 2004 10:07:18 +0000 You pound the pavement. Get to know lots of RE Agents in your target area, look at lots and lots and lots of properties. You will find that you are then able to recognize a bargain when you see it. ( the cheapest is not always the bargain)And you will be amazed at how many good buys are actually out there. Buy it, then wrap it.

Dave

]]> 849248a20b89c8fff0bf3b38cc651587 siacci replied to the topic buying without an agent in the forum No Subject https://www.propertyinvesting.com/topic/4372259-buying-without-an-agent/#post-4462800 Thu, 25 Mar 2004 21:56:32 +0000 You can approach the vendor with no problems legal or ethical. People feel the way to sell a house is to get an agent and he will do the work. People find it too hard to sell themselves as they are emotionally attached to the product. The golden rule in going directly to the vendor is to not cut the agent out of his commission. Win -Win for all…[Read more]

]]> 17ac69f5e3386b9fc63f3d1b46a0bb96 siacci replied to the topic Polishing Floorboards in the forum No Subject https://www.propertyinvesting.com/topic/4372334-polishing-floorboards/#post-4463460 Thu, 25 Mar 2004 21:46:24 +0000 There is the easy way and the not so ewasy way.

Easy way is to pay a professionalto come in and do it for you.

Or go to your local hire place. Hire a large floor belt sander and an orbital floor sander. With the belt sander always run with the grain of the timber and keep the machince moving at an even pace as you move it along. The orbital will…[Read more]

]]> 0d8b37b5b9d1ee726050a8d0b5d1156f siacci replied to the topic "Property faces decade in doldrums" in the forum General Property https://www.propertyinvesting.com/topic/4372229-property-faces-decade-in-doldrums/#post-4462490 Tue, 23 Mar 2004 00:06:12 +0000 My 2 cents worth.
We are moving into a very exiting phase of the property maket for property investors. How many homes have you looked through recently that were let and how many owner occupied? We have lloked trough about 40 properties and drove by double that in the last month in Soth East Melbourne and only a small hand full were owner…[Read more]

]]> 01c73bbec42200819bd2e6c2c2b4f0f6 siacci replied to the topic RAISING THE RENT in the forum Help Needed! https://www.propertyinvesting.com/topic/4372195-raising-the-rent/#post-4462246 Mon, 22 Mar 2004 07:26:10 +0000 The problem associated with not raising the rent in line with the market is that when you actually get so far behind the market.All of a sudden need the raise rental amount but you cannot. If you were charging $150 (as your guilt kept you in check) and the interest rates went up 1-1.5% you would want to raise the rent a bit to cover the loss in…[Read more]

]]> 8adb910292029ce0f4bdf1e0e8cef569 siacci replied to the topic what to do?? in the forum Help Needed! https://www.propertyinvesting.com/topic/4371996-what-to-do-9/#post-4460630 Sun, 14 Mar 2004 11:09:46 +0000 You could sell it on a wrap or a lease option wich will give you very good dcashflow.240k@8.5% $1845 month and a deposit of about 20k per month. Good start to go to a lender and say you have guarentee income followed by equity on settlement. Use the 20 k to buy your next and so on…

Dave

]]> 21ff0a8d04ae691b2652de10182f3347 siacci replied to the topic Possible good buys? in the forum General Property https://www.propertyinvesting.com/topic/4371930-possible-good-buys/#post-4460003 Sat, 13 Mar 2004 11:42:41 +0000 At least you are looking and not just whining Waulok.Kepp at at it and you will find real kick ass deals. On the suface these look good, but look deeper and they may be great………….or not. Keep it up.

DAVE

]]> e21c73924eb6b905287ad280d1630013 siacci replied to the topic Wraps Banned in NZ in the forum Hotch Potch https://www.propertyinvesting.com/topic/4371953-wraps-banned-in-nz/#post-4460277 Sat, 13 Mar 2004 10:56:31 +0000 A recommendation from an organisation or person is not a ban.

You need to tell your lender what you are doing as required. That said there is always a lender out there. They borrow thier funds and resell it on the market at a 3-7% mark up. They are not going to say no to wrappers for long

]]> 73865d477bf842efbbf78b4ed8b451ff siacci replied to the topic Steve Live in the forum Heads Up! https://www.propertyinvesting.com/topic/4371926-steve-live-2/page/2/#post-4459950 Fri, 12 Mar 2004 07:24:51 +0000 The price charged is in direct proportion to the seriousness the attendee’s approach the use of the information provided.

Dave

]]> c406ae594afa03b28d929e0f09711690 siacci replied to the topic The best........ in the forum General Property https://www.propertyinvesting.com/topic/4371913-the-best/#post-4459807 Fri, 12 Mar 2004 00:39:36 +0000 Used this guy once in SE Melbourne. Found him genuine and the depreciation schedule was much better than I anticipated on a 25yr old home.

Gledhill N H Quantity Surveyor & Building Consultant
2 Jamboree Ave Frankston VIC 3199
ph: (03) 9781 1253 Quantity Surveyors

]]> 8000ee9e95c2e9b47e4d5f9c0a64d9c4 siacci replied to the topic Light Reading in the forum General Property https://www.propertyinvesting.com/topic/4371931-light-reading/#post-4460005 Fri, 12 Mar 2004 00:29:01 +0000 Loved all of Roberts books. Start at Rich Dad Poor Dad though as this underpins his entire way of thinking. I love reading.

Sorry cant comment on the trust things, haven’t got them.

Dave

]]> d35235514abbca7b49f12b19bea4c853 siacci replied to the topic Steve Live in the forum Heads Up! https://www.propertyinvesting.com/topic/4371926-steve-live-2/#post-4459938 Fri, 12 Mar 2004 00:22:16 +0000 We feel education is very important. I read loads of books, listen to tapes and cd’s from lots of different people. I have attended Dolf De Roos wekend in Sydney, Ricks wrap camp in Brisbane, and John Prattlets Rich Talk Poor Talk in Sydney. Attended quite a few of the so called teaser evenings and enjoyed every one of them. All money well…[Read more]

]]> 9677554b696e136d83e85a2c07f6abca siacci replied to the topic Steve Live in the forum Heads Up! https://www.propertyinvesting.com/topic/4371926-steve-live-2/#post-4459929 Thu, 11 Mar 2004 10:44:45 +0000 https://www.propertyinvesting.com/resources/17.html

This sat in melbourne. found out about it in one the recent newsletters.

Dave

]]> 18b97ba5aeff57a6d90d7ee92217d09a siacci replied to the topic Crack in brick wall in the forum General Property https://www.propertyinvesting.com/topic/4371919-crack-in-brick-wall/#post-4459860 Thu, 11 Mar 2004 09:15:16 +0000 We have been experiencing quite a lot of dry weather in the past few years and this will cause many shrinkkage problems in high clay content soils. If the area around it is very dry open ground but there is a larger area abutting the biulding or very close to it covered with concrete or a well maintained garden there will moisture differentials in…[Read more]

]]> 2eac7acc7d7aaa0b763d976f2c88146f siacci replied to the topic Steve Live in the forum Heads Up! https://www.propertyinvesting.com/topic/4371926-steve-live-2/#post-4459924 Thu, 11 Mar 2004 08:50:59 +0000 Julie and I are going too.

Dave

]]> 08ab7099cd88781ac56572b1bf838bbf siacci replied to the topic Tenant will not move out in the forum General Property https://www.propertyinvesting.com/topic/4371881-tenant-will-not-move-out/#post-4459570 Wed, 10 Mar 2004 08:38:42 +0000 This is a very difficult situation but from my experience you are stuck with them until they decide to go. Took 3 months last time it happened to me, Sorry. The bleeding hearts make the laws here in Vic no logic allowed. You could , if you were really desperate offer them some renumeration for moving. Offer to pay them once they are out and the…[Read more]

]]> cf02f6f57a2af031eb3ea0948b068a73 siacci replied to the topic Just starting and anxious to find a property in the forum General Property https://www.propertyinvesting.com/topic/4371712-just-starting-and-anxious-to-find-a-property/#post-4458276 Wed, 03 Mar 2004 08:34:18 +0000 About 5 years ago a friend of mine started buying house in Horsham (NE Vic) 7 hours from his home. We Melbournians thought he was mad. All his properties were cashflow positive from day one and he has achieved good growth too. He was doing so well at one stage that he thought he had better buy some negetive geared properties too. I suggested that…[Read more]

]]> 4b9d4142663b648d1ce12ba995fc2598 siacci replied to the topic Rental software in the forum General Property https://www.propertyinvesting.com/topic/4371451-rental-software/#post-4455716 Tue, 24 Feb 2004 06:10:47 +0000 http://www.cashflow-manager.com/australia/
Ihad used this for my rentals before I wrapped them all Quite a good bit of software.

Dave

]]> 86fb7c435a9368dd1066135aa11f8bbb siacci replied to the topic Cranbourne, Victoria in the forum General Property https://www.propertyinvesting.com/topic/4371357-cranbourne-victoria/#post-4455101 Fri, 20 Feb 2004 12:11:57 +0000 Cranbourne has great potential that will never be realized. When the councils amalgamated the focus shifted from Cranbourne (was the centre of the shire) to Berwick and Fountain Gate. The new pool at Fountain Gate was originally proposed for Cranbourne, the geographical centre of Casey but the council said Fountain Gate of take a hike. Target…[Read more]

]]> 342f36f8475f4ca9bad7a47fead467ca siacci replied to the topic Harvard Securities/ La trobe Property Research in the forum Heads Up! https://www.propertyinvesting.com/topic/4368729-harvard-securities-la-trobe-property-research/#post-4433873 Fri, 20 Feb 2004 11:55:02 +0000 Harvard are just Barry Plant Doherty dressed up. They are real estate agents ,thats all. They Will do everything for you but the prices were high, projections questionable and fees scary. They tried to talk me into a couple of IPs once and were evasive about a lot of nagging little things. Steve mentions such people in his book as the ones…[Read more]

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