Total Members: 158,979

the_maddog

  • the_maddog replied to the topic Check my figures in the forum Help Needed! 15 years, 1 month ago

    Thanks for your replies.Yes the holding costs were a little low. Should be based on at least 90 day holdJaffasoft, all my figures were for worst case scenario. I.e. interest rate 1% higher than the current variable, Sale price $50K less than what others are going for, and the reno should only cost $10K, but I allowed $14K to be on the safe…[Read more]

  • the_maddog replied to the topic Opinions wanted in the forum Help Needed! 15 years, 4 months ago

    Its not that far out. Only 3 hours from CBD.

  • the_maddog replied to the topic Opinions wanted in the forum Help Needed! 15 years, 4 months ago

    Good question Richard. I would assume so. Have there been cases where finance is not available in Country locations?My intention is to offer subject to finance and inspection, so if we cant secure finance then we are covered

  • the_maddog replied to the topic Opinions wanted in the forum Help Needed! 15 years, 4 months ago

    No it doesn't, ha ha. I haven't actually said which state it is in.

  • the_maddog replied to the topic Opinions wanted in the forum Help Needed! 15 years, 4 months ago

    Haven't pruchased as yet. It is a mid-sized town about 13,000 people with a train line to the CBD. Reasonable employment there too

  • the_maddog replied to the topic Opinions wanted in the forum Help Needed! 15 years, 4 months ago

    More details:$110,000 Purchase price$7,000 Purchase cost$120/week repayments$140/week rentIt in the country, and unfortunately we wont be able to get to see it prior to purchase. Will be relying on a Building Inspection to assess the current condition of the property

  • the_maddog replied to the topic Our first reno project in the forum Value Adding 17 years ago

    Purchase Price: mid $200k'sReno Cost: $25kTotal Cash in: $56,624.00Expected Profit: $15,726.00Project length: 4monthsThis was your original estimate. I am guessing the profit has increased with those sort of offers?Well done, the place looks great. With the renovations on the outside, it really gives the perception of additional living space.

  • the_maddog replied to the topic Adelaide Bank 8.44% interest rate in the forum General Property 17 years, 1 month ago

    I'm with adel bank on a variable loan. Havent been informed of anything as yet. They are usually very good with that type of thing.

  • the_maddog replied to the topic renovations=capital gains or positive cashflow? in the forum HI Baby@investing,
    I heard
    17 years, 1 month ago

    HI Baby@investing,I heard something similar at a Martin Ayles Seminar. I think it comes down to how the taxation department interpret the earnings. For example, lets say you are renovating on or two properties per year on a part time basis, this would definitely be classified as capital gains as it is not you primary source of income. On the…[Read more]

  • the_maddog replied to the topic WealthScore…. How Did You Go? in the forum General Property 17 years, 1 month ago

    Thanks for the feedback Steve. I wasn't too concerned with my score at -820, as it needs to be put in context of your goals and timeline. My goal 18 months ago was to be able to afford a family home without saving for a deposit. Using the FHOG and $10,000 loan my partner and I purchased a townhouse which we renovated and sold for $60K profit which…[Read more]

  • the_maddog replied to the topic WealthScore – You’re kidding?? in the forum General Property 17 years, 1 month ago

    I'll put in a bid for lowest score, -820. If I sell all my assests, pay out my debts and stop working then apparently I will survive until…well… today

  • the_maddog replied to the topic WealthScore…. How Did You Go? in the forum I’ll put in a bid for lowest 17 years, 1 month ago

    I'll put in a bid for lowest score, -820. If I sell all my assests, pay out my debts and stop working then apparently I will survive until…well… today

  • the_maddog replied to the topic Booming exports against recession in the forum General Property 17 years, 2 months ago

    While the resource industry is seeing a huge boom at the moment, that is largely due to China's enormous growth in recent years. If China slows down their growth, even by 5 or 10% then Australia will feel a huge impact. Throw on top of that, the USA has several trillion dollars worth of debt (from the War on Terror), so they are in a high risk…[Read more]

the_maddog

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