Get Into The Property Market in South Yarra, Victoria | Property

Get Into The Property Market

Locality: South Yarra, Victoria

Phone: +61 417 144 710

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23.01.2022 Ok as promised here is a summary of what people are asking at the link below to a blog. It has links to the property and also the spread sheet. Please post your feedback either there or on this page. Please pick holes in the modelling and also the concepts and ideas we want to get this right so that it can be utilised by lots of people.... Please share with your friends and get their feedback as well. http://getintopropertymarket.blogspot.com.au/

20.01.2022 Hi Guys was looking at getting us all together Sunday

14.01.2022 There was an issue with the financial link in the blog this has now been rectified thanks Steven Phang.

13.01.2022 Ok Team the property was sold at auction last Saturday for $845K 45K above our budget. All of the people still interested in putting a syndicate together please send me a message and we can get together and start looking for another property.

12.01.2022 Hope you are all having a look at the info I put together. Please send me any feedback that you may have. http://getintopropertymarket.blogspot.com.au/

09.01.2022 Ok the purpose of this site is to share the idea of a bunch of friends getting together and buying property. As we all know it is really hard to get into the inner city market the prices and the level of deposit required makes it really difficult. A lot of us like Deanne and Myself have been renting for years and feel like we are handing our rent money over to people we don't know and helping them to get rich.... Ok so how would it work. OK the house we are in is up for sale (Thank God we have a lease till Feb 2014) we think it will sell for around $700K+. So we get 10 people to put in 17K each this will cover our deposit 20% and stamp duty etc.. We get finance over 15 years with a fixed interest rate of say 6.5% each persons contribution allowing for a $5k annual sinking fund for repairs and maintenance would be around $425 per month this is principle and Interest. Deanne and I continue to rent the property at market rate with CPI increases same as we do now this is payed against the mortgage. In twelve months time we have equity in the property and look to buy another once again we look inner city and one of the group rents the property at market rates. We continue in this vain until we have 10 property's we then have security of tenure and once paid off we will have a shared income stream. I would like to know what other people think. Those of you who know I love a good spread sheet would know I have one available to show how it would work just ping me and I will send it through. Please post any potential issues that you believe would need to be addressed and help me to try and get this idea off the ground. I have asked Ben Clemens to have a look at it from a legal stand point and how we can ensure that everyone is protected.

06.01.2022 Ok we have some interested people in the concept both on FB and off can you please share the idea with your friends to see if we have any others interested and then we can organise a get together to discuss further

06.01.2022 Below is a link to some of our thoughts and the spreadsheet of the modeling for those who are interested. Please feel free to leave comments and questions or contact me on [email protected]