Forum Replies Created
Hi Nathan,
I am new to this as well, but I have one little tip. It is important to keep the end in mind. That is, set goals. For example do you want to own 1 million worth of property in 10 yrs time or do you want $100,00 worth of income each year? Once you set the bigger goals you can break it down into smaller goals and you will have more confidence knowing you are making the right decision when the choices come up. You need to choose a strategy. Buy & hold, wrap, lease, renovate etc. Once you work out which strategy you want to use, it then becomes easier to choose what kind of finance you want – P & I (principal and interest) – paying the loan down or IO (interest only) paying the interest only. You have lots of choices to make (for example is it important for you to own your own home before you buy your first IP). So just my little tip – keep the end in mind.Hi all,
A link to the latest star ratings on mortgages.
http://www.cannex.com.au/starrate.htmI phoned the Australian Tax office and I asked them to send me 3 booklets they have.
1. Personal investors guide to capital gains tax.
2. Rental properties.
3. Guide to depreciating assests.Great Seminar!!
We got lots of tips. Our eyes and minds were openned
many times over the weekend. Thankyou Steve for all your
effort.
TaraThey are around at 10% yield, even in Brisbane
I have one I am looking at now.
In the outer areas, I have just heard of a buyers Advocate
locating positively geared properties around
the Toowoomba area if you are interested you
can email me and I will pass on his details.
Tara.Hi All,
My husband and I are going. We are really
looking forward to it. Meeting like minded
people who are willing to share their
knowledge. It’s going to be great!
TaraWay to go! Congratulations AD!
It’s great to hear about your
success and your enthusiasm!!
It is very inspiring to us newby’s just
starting out. I also look forward to
further posts re your success.
Tara.I saw one in a newspaper that went something
like this:
“WHY PAY DEAD MONEY”
Private sale of …. bed home, close to …. Vendor will
finance for $….. deposit and only $….repayments per week.
No bank qualifying. Call …..on Ph…..Hope that helps
TaraAd & Bruce,
Thanks for your reply. It’s great to hear how you
approach it. It has helped me a lot.
Tara.Jason and Ad,
Thanks heaps for your reply. I really appreciated
your comments. I went back over the figures like
you suggested and found the rates were much higher
than I thought. So at $140,000 the property was
actually negatively geared by $7.00 per week. At
$135,000 the rent would probably have just covered
the outgoings. This was a really good experience
for me and really brought home the importance of
getting the figures right. It also has me wondering
if those of you with experience,
has developed a benchmark or rule-of-thumb
for how much cashflow after the expenses (rates, insurance,
property management fees, interest)to aim for when
looking at a property.
Thanks everyone
TaraHe Rie,
I just set up a LOC using a split loan
with an interest rate of 6.12%. One of
the reasons the broker may be steering you
away from it is that for it to work it should only
be used for investment purposes. That requires
a lot of discipline and therefore it would not suit
everyone. Something to consider, hope that helps.
Tara
