Forum Replies Created
Hi PurpleBlondie,
You have to be really careful in Perth for good PM’s. My wife is a PM and she often tells me how she can’t believe how young and inexperienced PM’s are here. There is a severe shortage of good PM’s thats for sure. I happen to know that RE’s in Perth just can’t find good ones. For a 5 day course too, they leave and can earn seriously good money. My wife is back tomorrow from a PM meeting in Sydney, if you’re interested in some free advice PM me and I’ll ask her to respond tomorrow night.
Good Luck,
ZucanTell me Turboz, if you go to the bother of providing your details and emailing your enquiry, wouldn’t you expect to receive a phone call or correspondence. Emailed a mortgage broker, once, they phoned me back, gave me some excellent advice with a choice of 30 lenders and got my business. Customer service is what it’s all about. Good to see you had a good experience though. Maybe I’ll give them another chance on my next IP purchase.
I don’t know about how fast but I requested someone to get in touch with me through the forum over two weeks ago. I got one email saying someone would get in touch with me, since then, nothing. Ended up going to the ANZ. Bit disappointing. Maybe you’ll have better luck.
Grant,
A $380k loan @7.32% over 25 years paid fortnightly is going to cost roughly $1275. Your colleague must have had a substantial amount of equity on that sort of money to be only paying $80 per fortnight. Considering that DHA take 15 – 16% of the income as a management fee as well. My experience when looking at these deals is that unless you’re going in with a substantial deposit, your going to be heavily negative geared. I personally wouldn’t be comfortable with that. This severely hinders your cash flow for possibly a long period of time.
In saying that, I have friends who have purchased DHA properties, however, they are dual income households and they bought when DHA were a bit more reasonable on there pricing. DHA properties are too expensive in my view.
With no deposit I would have thought you would be far better served to continue saving and use the FHOG like everyone else to try and enter the market. Is it an option to start with a lower cost IP first, say a unit in Logan Central at $110k with as little as $5500 down plus costs. Slowly increase your equity, over time, get a revaluation etc etc etc.
Hope this helps.
I’d move out! Too heavily -ve for my liking.
If it’s a scam it looks like a good one. Forums have a lot of posts on them going into last year. Some of the posts are very religious. Looks dodgy to me, no mention of what exactly the money is invested in nor a lot of talk about returns.
Yes Jasal, that’s exactly how I feel. Their is so much to know and learn, I’m thinking about paying the additional cost and getting a buyers agent to assist me. I’d like my first property to be in Adelaide, simply because I have family there and go back regularly. Thanks everyone for the advice.
Thanks for the response. I’m only in Adelaide for the next few days. Have been looking more in the North East area. Will send some details.
Thanks everyone for the replies. Next step is to find out how much I can borrow and then I’ll know where to look. Has anyone gone in first with a spotter or taken a chance themselves.
