Wraps are not bad, but as I mentioned before you are not a typical wrapee.
Wraps are designed to suit CF+ properties where rent is higher than a typical mortgage (go figure). And generally traditional finance cannot be obtained. Even with a wrap deal in the area you are describing your repayment is still going to be that sort of figure or…[Read more]
If you are in such a good position, why do you need to be wrapped? The bank is the best place for you to source finance. Wraps are for people that generally have poor credit history or no/low deposit, or other reasons.
It seems strange that you posted this request! But good luck.
The DIY Dog Wash
Like a laundromat for dogs, without the spin…[Read more]
Well done Chief,
Sorry my resposne was so late, but obviously you are happy with the deal and that is what counts.
The DIY Dog Wash
Like a laundromat for dogs, without the spin cycle!
TAKING PRE-REGISTRATIONS NOW!
That price sounds OK, depends on where in Kings Park, you say the M7 is not far but how far as many homes in the area are not far (not far from their back fence!!!!). If your land is 700 plus and the house is modern then maybe the property is worth more. I think your top end is something like $420k.
Our experience with the area was to buy a ppor…[Read more]
You could try going to look at display homes and stores like freedom that have got great ideas on what is modern and then you can look for a similar item at a price point that works for you.
I do like the renting furniture idea too.
I am not an expert BUT! Personally I would look at ways of keeping that particular property because it sounds like a jewel in your crown so to speak. Have a chat with your lender about releasing equity through line of credit facility or the like. You can then still buy more property and keep this great located property.
Thanks for the offer but it was just for people to discuss ways of making money on this type of property, there is so much of it in the area I live and I thought people might like to discuss what people could do with it if they bought some. Otherthan just land banking, which returns nothing until it is sold.
BTW, you should remove your…[Read more]
I get the % of list price now but I don’t see how you use it as your criteria, if your not giving to much away could “please explain”
Welcome to the forum.
Without exactly answering your question, I think you should spend a lot of time in this and other forums like it before you get started so that when you do buy the risk will not be as high because you will have learnt what to do not just followed the recommendation of a stranger.
Hi Del Hi KAye
Good to be back!
Could you please explain to me what you mean by the land content being 85% of list price. I it is a dumb Q to you but I don’t know what you mean.
Find a niche to differenciate you from the rest ie: in some regional areas they bring outside teachers and medical staff who are used to higher rents and when compared to the areas average condition a rental property that is very clean with a good basic decor are willing to pay more for the better property. Positioning yourself at the top of the…[Read more]
This rule as mentioned highlights to the user deals that have a 10.4% return, however it is there to “quickly” help you work it out especially if you are infron of an agent or something like that. The ultimate level of return that you are looking fo ris entirely up to you.
Don’t get caught up on these formulas. It is just a…[Read more]
Maybe you could contact someone like Rick Otton who is Sydney based and offer your time for free to increase his time leverage and your knowledge. The answer is no if you don’t ask.
Originally posted by emcdonald:
was anyone on this forum one of the ‘property proteges?’
All of the Mappers are members of this forum and or attended Steves Property Masters last year.
You probably already know some of them by their alias.
The sub forum are actual a great feature as it helps to catagorise the topics being posted enabling people to view discussion in the area of their interest.
If all topics remained as they once were in only a couple of forums and the traffic of posts remained high then filtering throught the stuff that doesn’t interest you is alot more irritating…[Read more]
Speak to your bank, ask who their panel of valuers is and ask if they will accept a valuation that you have paid for with one of their panel members subject to the valuation stating the specific reason that it is being done (which is what you would have spoken to your bank about anyway).
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