Forum Replies Created
Your’re on the Money now
The key is not to over extend yourself!Hi Anon
All I can Say is that if you stretch yourself, you may put yourself in a position where you have to sell in a bad market.
You need to take into consideration the fee’s and unexpected problems that can arise.
Also you cut out alot off first home buyers when you buy at that level, this can effect resale value.
At the moment some people are loosing upwards of 80k on 400k properties this would be around 110k on the 595k.
I’ve heard it said that you make you’re money when you buy.
I’d steer away from properties that attract alot of attention, these properties usually sell on the money and in today’s market you are less likely to get a deal.
Look for properties that have been listed for a while, visit some auctions and if no-one bids then show some interest.
Also there is a better chance for it to be CF+ with a lower price, as the Interest only payments will be less.
Hope this helpsFinally found the one I use.
Hope someone finds this useful.
http://fyels.com.au/wpg
Link Looks dodgy but its legitDenis
Nice work.
I made one up for our hunting, but was a bit too lazy to put it up.
Ours included things like aircon,stove type etc all those little things that can be forgotten about when visiting 10+ places in 1 dayHave you considered Body Corporate Fee’s in the CBD, some are around 6k a year.
I’ve heard a good saying on the forum here ” Hope is not an investment strategy”
We’ve just been looking at properties in the cbd and found there was limited haggle room, properties in the sub 500k seem to be doing well and selling fairly quickly for pretty much on sale price.
Another good piece of advice i’ve picked up from here is that you make your money when you buy.
Make sure you get a good Mortgage Broker, our broker saved us around 3-4k in LMI, His name is Richard Taylor(qld007 on the forum here)
We moved a little bit Further out(Taringa) and Picked up a 3 bed 2 bath(122m2) for 370k with body corp $2.5k a year an currently rented at $470( due for an increase as current tenant has been in there for 6 years)
Hope this helpsHI Allen
Thanks Heaps for your reply.
I've always wondered, you must get " Can you find me a CF+ property" alot.
I'd also be interested to know the answer to thisCheers
Denis
I second Talking to Richard.
He’s Helped put me on the right track
Just be careful with that much money you’ll be getting lots of free advice and new friendsHi Andrew
I’m in the exact situation as your’s
I’ve been looking around for about 2 months now, A friend has just finished building in Springfield lakes cost him about 380k (the house I personally think is worth around 350k) also they have just started Development behind his property so there is lots of dust/heavy machinery.
There seems to be a flood of houses on the market out that way so if demand dies down there may be deals around.
I struggled to find cashflow Positive properties out that way, and if the loan is in 1 name you may not have much incentive to Negatively gear.
I’ve found a few positive cashflow places in the city, but not sure if these are a good idea yet.
I’m just starting out so please take what I say with a pinch of salt, i’m also hoping for info so would like to keep this thread going!!Cheers
Denis
Thanks WaySolid
I was beginning to lose hope in my post!
I couldn’t believe the difference in body corporate fee’s same street, similar size buildings with 4k per year difference.
Going to visit some open houses this weekend to get a feel.Cheers
Denis
135, oh well could be worse
No worries, Glad I can finally give something back to this forum
Hi crj
As yet the only expense for my education has been Steve’s book!
I’ve acquired the rest via free methods ( Yea I know, not good )
Does anyone know any accountants who need IT support
Not sure what the Boss would say about funding an economics course, I don’t think it wise to ask.
I’ll definitely look for the tax book you recommended.
Thanks for the help.Cheers.
Denis
lol a post 6 years later
