[Tony FlemingParticipant@the-dark-knightJoin Date: 2008Post Count: 396]

January 30, 2014 - 3:46 am

Hi dave,

Very understandable and sensible to be thinking like this

1. Yes although you are still responsible for the other halfs morgage because both of your names are on the title

2. The female will always win especially with kids! from memory 60% of your assets (including super) is the most they can get if married.(could be wrong though)

3. I believe its very similar to a normal default. Property will be repossessed unless you pay for their half default.

4. None really they have a option on E-tax to put yourownership percentage in. 

 

Tony Fleming | Triumphant Property Group
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[Tony FlemingParticipant@the-dark-knightJoin Date: 2008Post Count: 396]

January 29, 2014 - 8:44 am

Cash Flow positive properties are easy to find if you target the right area and know the market!!! Low socio economic areas are highly cashflow positive with current interest rates and a lot of these properties have been sitting on the market for months(room to negotiate massively). If you are scared of bad tenants or rent arrears call a local property manager. As long as its not a family business or the property manager has an interest in the company they will tell the truth. I've called about numerous housing commission/bad areas. They tell you straight up bad area/don't do it/stay away or its borderline/good strata managers/postives about it. They don't want you to buy a dud because its more work for them/they have to deal with the tenants/grumpy vendor. Hope this helps

Tony Fleming | Triumphant Property Group
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[Tony FlemingParticipant@the-dark-knightJoin Date: 2008Post Count: 396]

January 29, 2014 - 7:07 am

Have you considered offering a long settlement period? If the property has been on the market for a while im sure they'll be happy to have a longer settlement, you may be able to solely save in time or both save some money for a deposit? Hope this helps

Tony Fleming | Triumphant Property Group
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[Tony FlemingParticipant@the-dark-knightJoin Date: 2008Post Count: 396]

January 29, 2014 - 7:01 am

Catalyst wrote:

Hi, when calculating whether a property is REALLY cash flow positive I count ALL costs to me. I borrow 105% so calculate that. But even if you haven't borrowed all the money you need to calculate lost earnings.

i.e. You have paid $38,052 out of your pocket (does that include solicitors costs, building reports etc)? This should all be included. 

If you had that $38,052 in the bank you would be getting interest on it (say $1500) so you need to deduct that from you "profit".

Then that gives you a TRUE representation of the change in your circumstances from before and after purchase. And that is what makes the difference. How much better or worse off are you if you make the purchase?

Some people pay a big deposit then kid themselves that they are CF+.   Numbers don't lie but your interpretation of them can. Good on you for questioning. A lot of people would just go "how great am I" and jump in. LOL

Agree 100% with deducting the interest that you would be earning. I always try to and pay the smallest deposit and use LMI(tac deductible and possibly the best way of growing your portfolio in a short period of time)

Tony Fleming | Triumphant Property Group
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[Tony FlemingParticipant@the-dark-knightJoin Date: 2008Post Count: 396]

January 29, 2014 - 3:24 am

Looks better than the one i use lol

Tony Fleming | Triumphant Property Group
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January 28, 2014 - 11:37 am

Albury Whittles does a good job. Guess it just depends who is working in that branch

Tony Fleming | Triumphant Property Group
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January 28, 2014 - 11:32 am

Sorry to hear about your phobias. As Jamie mentioned it is possible but I think you’d have more luck if you were in a joint venture situation(maybe a family member could help use with cash/equity/be security for you and help with the loan servicing). Good luck

Tony Fleming | Triumphant Property Group
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[Tony FlemingParticipant@the-dark-knightJoin Date: 2008Post Count: 396]

January 23, 2014 - 1:50 am

1) Yep thats right. You can try for a 5% depoist at cooling off just so you can have more money in your account

2) I would personally call them and than send an email to confirm your offer, I find its easier to haggle over the phone. Make sure you mention negative aspects about the property before you put the offer in. Good luck

You can ask for subject to finance if you think it will sell soon

Tony Fleming | Triumphant Property Group
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January 19, 2014 - 12:50 pm

Hi Ajay,
I was thinking the same thing although from what ive been hearing they would be expecting it to be finished completelty in 2030 if not longer if they debate it which they will.

Tony Fleming | Triumphant Property Group
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January 18, 2014 - 3:09 am

Benny wrote:

I recall this kind of thing happening around 2000 – 2002 (I think).  Everything was booming, and these groups would tout "cheap properties" by bussing people to smaller towns/cities.  Of course, ANY more remote town is going to have a completely different pricing structure to Syd, Mel, Bne, etc.   So they promoted these "cheap" places – even with their loaded commissions on top, the prices SOUNDED cheap to city buyers who hadn't become familiar with local prices.

Even trips to the Gold Coast (they flew you up from Syd for FREE) had Sydney-siders saying "Wow, that IS cheap!"   These buyers didn't know what they didn't know, so were lulled into purchasing properties that a local would have picked up for at least $50k less.   I heard even the route that took them to the inspection was carefully planned so that buyers wouldn't see any billboards promoting OTHER off-the-plan properties for way less cost….. 

Oh, and the buyers were "never left alone" to wander down the street (don't want them looking in local RE offices, now do we?).

And any "deal" would involve equity in their own PPOR, as the valuations for the new "investment" would never stack up on their own.   It is a shameful practice.  Be sure to wise up all of your friends who even sound like they are "looking at property investment".   Send 'em here instead !!!

Benny

They wont be able to do that anymore thanks to our little friend the internet

Tony Fleming | Triumphant Property Group
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January 15, 2014 - 8:13 am

I’ve only ever had the first offer accepted once but I always offer a ridiculously low offer with some valid points ie old hot water system, concrete cracking and bad neighbourhood etc the agent has to legally pass the offer on according to their legislation. They normally come back with an counter offer and than you normally negotiate of that. Just make sure you know the market and facts about the area. No agent is going to listen to you if you dont have factual information about the area. I personally believe in talking to the agent verbally or by phone. Hope this helps

Tony Fleming | Triumphant Property Group
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January 13, 2014 - 10:41 pm

*can

Tony Fleming | Triumphant Property Group
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[Tony FlemingParticipant@the-dark-knightJoin Date: 2008Post Count: 396]

January 13, 2014 - 10:40 pm

Hahaha I did tiling at my ppor so I could get good at it for when I did my IPs. It was a learning experience alright now Im good at it and my ip have great tiling and there is one row of uneven tiles in my laundry that taunts me every time I see them. Point of post practice on someone else’s property if you cab

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January 11, 2014 - 12:49 pm

Thanks New guy & and Shahin. Not quite sure if property development is for me but I want to mix up my current strategy and take my portfolio in a different direction. Ill let you know how it goes

Tony Fleming | Triumphant Property Group
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January 11, 2014 - 8:18 am

Hi Shanin thanks for the reply. They would be side by side/single storey and its a major regional victorian city.

Tony Fleming | Triumphant Property Group
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[Tony FlemingParticipant@the-dark-knightJoin Date: 2008Post Count: 396]

January 3, 2014 - 9:55 pm

Same as Jamie i got a spreadsheet for all properties so i can monitor monthly, quarerly etc profit and losses. I can send you a copy if you would like? also all paper goes into folders

Tony Fleming | Triumphant Property Group
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December 4, 2013 - 12:57 am

Would be a shame if someone "stole" it before you could get it into storage  

Tony Fleming | Triumphant Property Group
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[Tony FlemingParticipant@the-dark-knightJoin Date: 2008Post Count: 396]

November 27, 2013 - 10:29 pm

Offset could be my partner <3 i do the same as Jamie all rent/salary goes in and just use a credit card and repay before the interest kicks in

Tony Fleming | Triumphant Property Group
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November 20, 2013 - 12:15 am

Qlds007 wrote:

DK not saying money can't be made but it is not an area loved by the mortgage insurers.

Cheers

Yours in Finance

   Valid point

Tony Fleming | Triumphant Property Group
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November 19, 2013 - 11:15 pm

What's wrong with Lavington lol its a great place I've made some money there . Carlito- Albury was on Terry Ryders list for his hotspotting company at the start of the year. From memory the general area so Albury/Wodonga had a lot of minor infrastructure projects in the pipeline over the coming years. As Richard said there are good and bad areas but they are easy to spot if you drive around down there. Hope this helps

Tony Fleming | Triumphant Property Group
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NSW Buyer's Agent specialising in Western Sydney-Blue Mountains-Orange-Albury