Now that adds an interesting problem, you may need to check with your lender but if the PPOR is x collatoralised (spell checker) with your IPs then you will need to fund or refinance the amount used out of the equity (generally your 20% deposit and the costs you borrowed), when you sell your IPs.
That doesn’t sound realy clear let me know…[Read more]
You can ONLY purchase your FIRST property with the FHOG. The purchase is intended for the property to be your PPOR and you need to move in within the first 12 months.
The length of time you must live in teh residence is not specified and you need to prove you lived there if questioned ie: utility accounts etc.…[Read more]
By my rough calcs, they are both cashflow positive now in that they would be covering their own mrt payments and general outgoings (making assumptions on cost of outgoings)with good available equity (also based on assumptions about outstanding mortgage and interest rates) but I figured you have about 100k or more to play with.
I wanted to offer my services as a helper for that seminar but it is my birthday! I personally think it would be a B****y good present, but not everyone agrees with me[].
I empathise with your situation, and the answer is not going to be a straight forward one, as investing is horses for courses.
But can you give a bit more info like, how long you had each what you paid and how much rent they are getting. I am sure someone here can help you be creative or point you in teh right direction for making a…[Read more]
My experience at 2 of Steve’s seminars is that a total cost of around $3000 (hubby & I) was recouped in our first deal, I also have purchased most of Steve & Daves products at a further $1000 approx. and feel every penny was more than worth it.
We played a real estate game at the 2 day seminar which I razzed as being a bit rushed and not…[Read more]
I love reading posts like yours and Cobra’s, they remind me of how I felt only 6 months ago. The first deal is so hard but once you make that offer the adrenalin starts to flow and you are so hyped up and when the offer is accepted you go higher and for a split second you think oh **** we just bought a ****** house, and then back to oh my…[Read more]
I don’t think any additional forums are necessary, but a way of tracking your own posts would be good. EG view by my alias for 1 day, 5 days, 14 days etc.
Deccs,
For me it felt like being hit by a semi, but I can honestly say wow what an experience … can we do it again! I learnt so much by doing the deal and because I had attended Steves Master Seminar weekend I identified the tenant as a potential wrap and my first +IP turned into my first wrap. Jump in, whats the worst that can happen, you have…[Read more]
I had to have a chuckle when I read this post, for two reasons, firstly I know Del and she is so lovely as is her hubby that thinking she is a negative know-it-all was too funny.
Secondly, it read like a school yard squabble … this forum is here to learn about +cashflow property investing. It is here so that those newbies wanting to…[Read more]