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Steven

  • Actually, one thing to add in.

    The first step I mentioned to “work out your goal”.

    I mentioned this is due to the strategy would be different depending on the goal. This is a “technical reason”.

    There is also another reason that I would like to add in. This is more of a “psychological reason”. That is during the process of making investments,…[Read more]

  • This.

    Also per one of my posts in the forum.

    Work out what you want to achieve first, then work out a strategy that aligns with your goal (eg: if you want to live of 20+ IPs passive income and be able to quit your job, then the strategy of buying negative gearing IPs probably isn’t going to align with your goal very well).

    Then find the right…[Read more]

  • Hi all

    Seen a lot of posts here where people are just starting and not know how to start.

    The suggestion I have is: work out what goal you are trying to achieve and the strategy first, before you even look at the first property.

    Basically it works like this:

    1. Work out what are you trying to achieve with buying properties. The reason is…[Read more]

  • Both are important.

    Without high yield you don’t get serviceability to apply for more borrowing (unless you have an insane amount of cash that you don’t need to borrow)

    Without high growth, then you don’t get enough deposit to buy the next one

    Instead, it is also important to think which one will break you.

    Lack of growth may make things…[Read more]

  • Hi all

    Asking about putting building inspection clause in a contract. I would like to find out has anybody successfully got vendor to remediate an issue that is NOT exactly considered a “major defect” before?

    I understand that if a major defect is found, the buyer has the option to pull out of the contract. (or alternatively the vendor can offer…[Read more]

  • I hardly pay attention to Medium price.

    I have made the rule to do the following:

    1. Look at “Sold within 800-1500 metres radios in the past 2-3 months” and make offers based on that, as long as the numbers make sense to me. It is up to vendor to accept or reject my offer but it is up to me to make my offer.

    2. Never up my offer unless I am…[Read more]

  • I think the idea of buying under value is to be able to add your own values. As the likes of Steve McKnight and many investors on this forum would point out “don’t buy a solution, but instead implement your own solution and then sell your solution”.

    Where you make money is not when everything is done for you, but instead for yourself to overcome…[Read more]

  • I think the idea of buying under value is to be able to add your own values. As the likes of Steve McKnight and many investors on this forum would point out “don’t buy a solution, but instead implement your own solution and then sell your solution”.

    Where you make money is not when everything is done for you, but instead for yourself to overcome…[Read more]

  • So in other words, if your spending is like this:

    $1500 for food

    $800 for loan repayment

    Not only will banks add a few on top of the $800 to make your loan repayment look bigger (akin to adding an extra 2-3% on the actual interest rate to stress test your loan), but they will also add some money on top of $1500 for food to make it look like you…[Read more]

  • What about non-debit related spending? Like food, groceries, etc..

    If my living expense (not loans, etc.. just pure non-debit expense) is 1500 per month, will banks automatically assume it is 500-1000 higher than my actual spending as well?

  • Quick question about Stress testing.

    I understand that when applying for a loan, banks would use a rate that is higher than the actual interest rate to assess your serviceability, such as if the actual lending interest is 4%, banks might internally use 6-7% when analyzing your application, as a way to ensure if the interest rate hikes, you will…[Read more]

  • I don’t like crystal ball gazing… in other words, I don’t try to “time the market” as I have no confidence that I will get that right.

    Experts get them wrong the whole time.

    Media keeps on hyping it up but gets them wrong all the time.

    Economists get them wrong the whole time.

    Business Analysts get them wrong the whole time.

    So what makes…[Read more]

  • In this case, then we are talking about the same thing.

    In my example:

     

    Instead of buying at standard $250K market value, investors buy at $150K, spend $20-30K adding value and result in property achieving $250K value even though they only spent $180K on that. And as far as from practical application’s point of view, investors considers t…[Read more]

  • I think the issue with this thread is it is getting hung up on trying to debate the “definition” of something that is defined loosely when in reality, at the end of the day, what investors really care about is the practical strategies and the outcome it drives.

    Instead of buying at standard $250K market value, investors buy at $150K, spend…[Read more]

  • I don’t exactly like the idea of “crystal ball gazing” the market, because expert economists get them wrong all the time, so what makes us think non-expert economists can get them right?

    In the Eastern Asian philosophy, they say “you can control the Earth, but you can’t control the Heaven”.

    Market is like “Heaven” to my opinion and I have no…[Read more]

  • Steven replied to the topic Ex commissioned home in the forum General Property 2 months ago

    OK. Interesting story you have with your Moe property. Was it a property located on King St by any chance?

    One of the things that always tends to get me is most people (agents, tenants, property managers) tend to think “a better kitchen / bathroom” adds more value than “better carpet / wall paint”.

    It seems there is a general perception that “a…[Read more]

  • Steven replied to the topic Ex commissioned home in the forum General Property 2 months ago

    When you say Latrobe Valley, do you mean area like Traralgon?

    I haven’t seen anything popping up that is below 200K in Traralgon recently. In fact, it appears the cheapest properties that show up now days in that area are now at least 250K or more.

    I bought a house in Traralgon for low 200K sometime last year, and recently I see a well renovated…[Read more]

  • Steven replied to the topic Ex commissioned home in the forum General Property 2 months ago

    When you say Latrobe Valley, do you mean area like Traralgon?

    I haven’t seen anything popping up that is below 200K in Traralgon recently. In fact, it appears the cheapest properties that show up now days in that area are now at least 250K or more.

    I bought a house in Traralgon for low 200K sometime last year, and recently I see a well renovated…[Read more]

  • Steven replied to the topic Ex commissioned home in the forum General Property 2 months ago

    I was looking in Horsham.

    It appears there were a few sold in North Eastern direction of Horsham and they were sold for low 200K or below 200K. But then there are also a few sold for over 300K in that general direction as well. (A few sold at Dooen Road for well over 300K).

    Speaking with agent, I was told the places near Mary St / Winifred St,…[Read more]

  • Hi all

    Today I hear the term ex comissioned home for the first time.

    Is someone able to explain what it means? (tried to google, there are lots of “opinions” about if they are good/bad, but haven’t been able to find a proper definition).

    Also, why are they good / bad?

     

    Steven

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Steven

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