Finally acheived a major goal

[juggernaut]

Home page will be a branded web interface

________________________________________
Hi all. I have just purchased my second IP within 12 months and just wanted to thank all of the contributors on this Forum who have provided me with a plethora of information enabling me to make, IMHO, some wise investment decisions. I would also like to thank Rolf Latham, my mortgage broker whom I am sure most of you would recognise from his posts on this forum. Having decided to use a HDT for my investment container, finding a lending institution that met my requirements was not easy to say the least and Rolf took a lot of that pain away from me. I'd also like to thank Dale Gatherum-Goss and his team for setting up my HDT and putting up with my never ending barage of questions.

Just so you know, my recent purchase is a 3 bedroom house on 809 squares meters on 2 x separate lots and conforms to council’s multi-dwelling code. I already have the house secured with a tenant in place on a 12 month lease on a 4.7% yield (gross). Being 5 km from the Brisbane CBD, despite being on a relatively busy street, I am very happy indeed.

Thanks again to all the gurus out there.

 

[lizzie]

woohooo - the first of many. sounds like a good buy. what are your eventual plans with it?

bet you feel good ...

 

[MichaelW]

Snap!

Sounds like the day for announcing some awesome results. Well done!!

Maybe we need to start a thread on the Somsersoft Barometer again, seems like there's a fair bit of property transactions going on with forumites and back on the eastern seaboard too...

Congratulations mate. Sounds awesome,
Mike

 

[Jacque]

Interesting, isn't it?
Some great deals being done against the current herd mentality of doom and gloom. So much for following public sentiment

 

[juggernaut]

Hi Lizzie. I am going to do nothing at the moment. Give me 5 years or so and I will either subdivide and build a second house or demolish the existing property and build 4 or more units.

That's the plan anyway

Ciao

 

[Macca]

Onya Jug,

That is a big enough bite, a little bit of consolidation while working on the plans is all part of the SANF.

Good luck

 

[djones]

Congrats on your purchase....it looks to be a good one. however why not build now...wont the building expenses increase over time?(please note i am talking purely from investment point of view and dont know anything about your personal circumstances or preferences)....


Also will be interesetd to know how much does the HDT setup cost and what are its ongoing expenses (like accountant, other paperwork etc) . I am assuming accountants costs are more in case of an HDT vs Ip in personal name...

Thanks

 

[ani]

well done

It sounds great!

 

[crest133]

Onya Juggernaut, feels like the Forum just got a shot in the arm too.
Congratulations
crest133

 

[rj]

I reckon we start an "achievement thread"

RJ

 

[Panda]

Well done. That’s a great achievement.

I am in total agreement to the achievement thread. It would be good if we could keep the thread clean of discussion and just have peoples achievements no matter how large or how small. It would be a great place to go just to get motivation and inspiration.

Do others agree? What do the modrators say?

Cheers,
Panda

 

[juggernaut]

Hi Djones, sorry about the delayed posting. To answer your questions,
- "however why not build now": I don't have the cash or the equity to do that now.
- "how much does the HDT setup cost and what are its ongoing expenses (like accountant, other paperwork etc)": I had it set up professionally buy a company who does allot of things and has an excellent reputation for doing so (http://www.gatherumgoss.com/). It cost me approx. $2700 to set it up with minimal running costs. You can prepare your own tax return if you like of get your accountant to do it. The cost for my personal tax and HDT tax returns was about $800.

Hope this helps.

 

[Les]

G'day Juggernaut,

Well done - sounds like a solid buy to me. I also own one with those parameters (it feels good !!!)

Regards,

PS For those advocating an "achievement thread", look for a separate thread of that name - let's talk about it .....

 

[djones]

Thanks Juggernaut for the information. I think i should be reading Dale's Trust Magic to get some detailed information about Trusts....as i might want to use them for my next purchase.

 

[kero]

well done juggernaut, its always good to hear successful stories from fellow forumites!