Hi new to the forum

angelica

angelica

Hi all
I am a newbie to this forum,
Just want to introduce myself,
I hope I can learn lots form you all,
I have been watching for a while,just thought I would show my face :eek:
 
I live in the city,my ex husband and I have a few properties but now I have to go out into the big world by myself.
I thought I would learn from the pros :D
 
ask as many q's as you like , thats what we are all here for, SS have meetings and educational meets as well , its a fair lot on here, and a good chat site for property addicts, lol.
 
I have the house I live in now worth about 440K, owned outright but mortgaged to cover the others.
also an investment house worth about 420K owe 340K
I have land with a new house being built,finished worth about 400K owe 300K when finished.
I have another property interstate worth around 440K unencumbered,this is the one I don't know what to do with?Its returning good money,just don't know what to do to use it to buy more property or something?
Debt at the moment around 600K and when the other house finished around the 800K.
I now I have lots,just don't know what to do from now on?:(
 
you could keep going , as your doing so well, or reduce some of the other debts, this would also depend on you income and personal issues, now your singel the banks might be a little more cautious,
your set up either way, others might give you there opinion too!
 
The properties look after themselves with the rents coming in and I don't have to put much in and also I have an income in excess of 100K PA,that doesn't look to be a problem with the banks.

Jamie (Ex) did most of the financing with the banks for me when we were together .I know he knew what he was doing but just to be sure,

I have a line of credit attached to my house for around 800K with NAB and out of that all the properties with different accounts have been purchased.I pay interest only and all rents go back into their own accounts.
I also have an offset account attached to that account.

Does this sound right?
Everything I have is in my name only and all loans were taken with my income alone as he used another bank for his.
 
BayView said:
great photo.

Sorry; but it had to be said. :D
Click to expand...

yeah, no older than 25, earning 100k+ as interior decorator!!!, a bit of property equity........hmmmmm, a dream too good to be true for a bunch of guys on a property forum. :)

welcome Angelica.....some questions for you to ponder:

- what are your 2 rental yields as a % of current values?
- are you building to rent or sell?
- what region are your properties? cap city mid/outer ring? regional?
- has your work as an interior decorator slowed down in the last 6 months or are you expecting it to?

1. considering the market is slowing, you might struggle to beat 5%pa growth.
2. rents have also been flattish for 12 mths in many regions.
3. could be marginal to do a fix and flick in this climate, even if you do a JV with a tradie. stamp duty, interest, rea comm would bite.

Many investors are waiting to see what happens in spring with auction listings and clearances.

Ultimately, it comes down to your strategy. active/passive conservative/agressive, short/longer term perspective, and your contacts. If you know builders, JVs where you buy and they do the work within a set time frame, that can work.
 
angelica said:
The properties look after themselves with the rents coming in and I don't have to put much in and also I have an income in excess of 100K PA,that doesn't look to be a problem with the banks.

Jamie (Ex) did most of the financing with the banks for me when we were together .I know he knew what he was doing but just to be sure,

I have a line of credit attached to my house for around 800K with NAB and out of that all the properties with different accounts have been purchased.I pay interest only and all rents go back into their own accounts.
I also have an offset account attached to that account.

Does this sound right?
Everything I have is in my name only and all loans were taken with my income alone as he used another bank for his.
Click to expand...

Welcome Angelica.

Apart from I rent my place where I live, the set up is similar, my IP's are each their own, offset acct attached, interest only, rent into that...neat and tidy, no IP murking the waters of others.

Sounds good. Well done.

I am accumulating increasing assets as quick as I can, building a base, buying/building well as I possibly can, leveraging equity into buying/building more IP's and buying what I consider good value (deals).

The IP's take care of themselves, (financially), (some have property managers), and I concentrate on the next deal.

My end goal is financial independence. So I guess I am working back from that to do what I need to do, to achieve that the best way possible in my circumstances.

I do the finance part, as in communications with our mortgage broker, (who is an experienced investor herself), we work together, and I learn a lot from her-on the financing side, it's not a particular strength of mine, but it is a necessity and it is very interesting. It is fun. Investing in property is a lot of fun.

My MB says "property is a girl's best friend" :)
 
Hi Angelica.

Maybe just hold onto thoseproperties for a while until you get a plan on what you would like to do?

Also...if you are unsure on loans, finances and tax issues! Research, research researc and ask lots of questions! Even call people and just ask...And if you are unsure how loans work speaking to people who on here do understand loans for investment will also help!

Welcome. Its good to see some more young chics on here! Now i;ve just got to get my sparky mate on here. Are you reading this Ryan?? :p
 
Bayview, I've revised my 85% to 100%. ;)

edit:
just noticed Angelica has 1 green kudos dot after 6 posts.....that's got to be some kind of record.
 
angelica said:
The properties look after themselves with the rents coming in and I don't have to put much in and also I have an income in excess of 100K PA,that doesn't look to be a problem with the banks.

Jamie (Ex) did most of the financing with the banks for me when we were together .I know he knew what he was doing but just to be sure,

I have a line of credit attached to my house for around 800K with NAB and out of that all the properties with different accounts have been purchased.I pay interest only and all rents go back into their own accounts.
I also have an offset account attached to that account.

Does this sound right?
Everything I have is in my name only and all loans were taken with my income alone as he used another bank for his.
Click to expand...

I would only be asking yourself the obvious question that can only be addressed by you and you alone,what do you want in Life because with the set-up you have in place just keep doing what you have been doing,and by the sounds of what you have done once quantifying everything the only problem i can see is if the rates go up and the rents stay the same and after 10 years of solid 'GC",that also stalls but i think you would have that base already covered by locking in the rates,plus for someone with all these Titles in your own name from day one you don't sound like someone that needs advice..willair..
 
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