Gday
I am inspecting some property in a couple of weeks, a couple of which might be positive geared.
But I have never purchased property nor mortgaged a property.
I’ve read Kiyosaki books, 0-130 Properties and Fundamentals of Investing Success, and attended a Master Class. So I have some knowledge of the issues.
I’d like someone to work with as a sounding board, mentor or guru. I am also willing to act as a sounding board for them too.
I live near Parramatta.
Anyone interested?
Andrew
0411 700 439i need someone to talk to regarding this matter as well (investing), how about if we formed some small circle of people starting out in IP, i need some mentor and guru too.
Cheers
An addition to my original post:
I had a look at Investment Detective today and there are some purchasing costs I do not know how to estimate, e.g.
– legals
– mortgage registration (with whom?)
– building inspectionAndrew
Hi Andrew and Learning Guy,
I have often thought of a regular meeting of like-interested bodies to just kick around their ideas and use each other as a sounding board.If you or any one else thinks this is a good idea I am also in Sydney area and could meet one evening. Matbe try Southern Conveyancing on 95997500 for quote on Legals and “Stamp Duty ” estimate can be obtained from http://www.stgeorge.com.au and I think building inspection costs will depend on location of property. eg Was quoted xs of $600 for written report but because I actually had seen the property and required an over the phone report from a different builder I will pay a heck of a lot less than that. Most times the written report may only say “where we could see” and I believe this is to cover themselves and give themselvs an out clause ..! Look at the place with a critical eye and then talk to local builder and get a couple of quotes. I believe you will be happy if the properties are in the country because they seem to be more forthcoming.
Cheers for nowLen
Legals – Around $500 – $1,000 for a conveyancer… $800 plus for a solicitor. More than $1,500 is a rip off on standard property
Mortgage Registration – Less than $100 in all States and paid to the State Revenue Office. The lender will take care of it out of settlement funds when they register the mortgage on your property.
Building Inspection – Between $500 and %1,000 for a decent one. Make sure you order building AND PEST inspection to cover yourself. No need to do this with Strate units as your solicitor would inspect the history held with the Strata.
The Mortgage Adviserhttp://www.themortgageadviser.com.au
Essential Links Website NEW LINKS & NEW FORMAT
PS: I would be interested in attending a Sydney group as well but most people are too scared to invite me… Maybe they just don’t like me!!!
Anyway, there is one organised through this forum but it is ‘controlled’ by a highly strung share trader who prevents those who disagree with him from attending. I don’t know the value of such a group but they seem content with it. Each to their own.
The Mortgage Adviserhttp://www.themortgageadviser.com.au
Essential Links Website NEW LINKS & NEW FORMAT
Geez Loueeze,We seem to have a few interested parties to meet together .Nibody willing to bite the bullet,so maybe give it a go. I am in Beverly Hills and can travel to anywhere in Sydney. Any suggestions from anyone and we’ll try for a most convenient place, and time.
Cheers Len
any one in melbourne ?
thx
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