February 2008 MIG Meeting

The Y-man

The Y-man

Hi All,

The next meeting for Melbourne:

Where: cnr Ballarat & Geelong Roads - Victoria University's Footscray Park Campus
When: Wednesday 27th February
Time: 6.30pm - 10:00pm
Building: Building D
Room: D409 (tea room we have used in the past)
Parking: FREE in Ballarat Road carpark
RSVP: No need to, just come along & its free

Coffee making facilities will be available

A map can be found on http://www.vu.edu.au/home/Campus_Maps/Footscray_Park/

These meetings are always very informal & informative...

Look forward to seeing you there!

Cheers,

The Y-man
 
Hi Everyone,

If there is anyone attending this meeting who can give someone a lift from/to the East St Kilda / Caulfield area, can you PM me please.

Cheers,

The Y-man
 
The Y-man said:
Hi Everyone,

If there is anyone attending this meeting who can give someone a lift from/to the East St Kilda / Caulfield area, can you PM me please.

Cheers,

The Y-man
Click to expand...

Hi All, "from" bit is ok - anyone able to take someone back to the StkE / Caulfield area? :)

Cheers,

The Y-man
 
Thanks The Y-man, can't wait to get involved in my second meeting.

Those that remember the newbie in the last meeting (i turned up late with my friend), I feel comfortable with my new strategy and have begun actively searching in to suit this criteria. Almost offered on my first :p. After reading a few posts today i expect i'll be feeling rather humble for some time!
 
Urgent advice requested... (i have made an offer and 5k off accepting :))

Hi Guys,

It has taken me a week.
I have made an offer on a house in the Frankston region and have received a counter from the agent. After an unconditional 30 day offer, and a day of negotiations, there is now a $5,000 difference between mine and vendors offers.

Yield based on meeting vendor's price is 4.2% (based on expected rent x 48 wks, inclusive of stamp and 'other' costs being a total of ~12,000).
My 'IP calculator' tells me it will cost me <$4,000 after tax per year.

I was aiming for 5% yield, however looking at the potential growth and lack of work required for the property in question (based on my very limited experience in inspections), i'm thinking 4.2% is quite reasonable.

I've consulted many around me, but not many are real players in property...
I was hoping some folk here could maybe give me 5 mins of their perspective on the phone if at all possible (TONIGHT :)). If you can, pls msg PM me from the forum and i'll call or leave my number (whichever you prefer).

This feels right, and i'm sure there are many things i've missed, but this is my first and i'm very keen to get in the market. Any assistance/ perspective would be great ;) ..
 
ManyManeuvers said:
Hi Guys,

It has taken me a week.
I have made an offer on a house in the Frankston region and have received a counter from the agent. After an unconditional 30 day offer, and a day of negotiations, there is now a $5,000 difference between mine and vendors offers.

Yield based on meeting vendor's price is 4.2% (based on expected rent x 48 wks, inclusive of stamp and 'other' costs being a total of ~12,000).
My 'IP calculator' tells me it will cost me <$4,000 after tax per year.

I was aiming for 5% yield, however looking at the potential growth and lack of work required for the property in question (based on my very limited experience in inspections), i'm thinking 4.2% is quite reasonable.

I've consulted many around me, but not many are real players in property...
I was hoping some folk here could maybe give me 5 mins of their perspective on the phone if at all possible (TONIGHT :)). If you can, pls msg PM me from the forum and i'll call or leave my number (whichever you prefer).

This feels right, and i'm sure there are many things i've missed, but this is my first and i'm very keen to get in the market. Any assistance/ perspective would be great ;) ..
Click to expand...

You probably want to start a new thread in the general area?

The Y-man
 
Melbourne meeting

Hi,

I am new to all of this. Can someone please tell me what sort of things are discussed at these meetings?

Thanks
 
Howdy,

I'll definately be there ;) Y-man, thanx for putting up the post, looking forward to catching up with everyone then...

Cheers,

Manny.
 
Hi, Y-man

I was about the ask the same question as Lilli as well. So, anyone can bring up anything as a topic of discussion? Interesting... there is still a moderator, right? Is there still a general over-arching topic to put everyone's mindset in the right direction?

Regards
Daniel
 
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