Nice one. Thanks for the feedback guys. Good luck!

Don’t worry Wayne, you & I both can’t buy them all mate. I think we can just be happy for our fellow forumites who have…

What do you mean by tenants in common agreement? You mean just buy property as tenants in common. I believe the only difference between that and joint tenancy is right of survivorship. Any lawyers out there to confirm? Also if you’re a first home buyer, can’t get benefits if your other buyer (or two) has previously ownned properties. Good luck

Good work! Don’t muck about when you guys see a bargain do you? Last Stage 1 was sold out in one afternoon so I’m willing to bet it’ll be all gone by now. Congrats! Is anyone planning to live up there? How far is it from the Somerly estate?

Thats not Anchorage by any chance was it Ausprop? What happenend to being neighbours…

Somerly looks like its getting pricey for where it is but then again so is everywhere in the south. People have been saying the North side is under priced but with this latest kind of pricing, doesn’t look like it to me. Developers are really cutting up the…[Read more]

Thanks for that in depth explanation. I had always thought Colorbond was MORE expensive than tiles. Well, thats what the Project home Sales Reps tell me anyway and that, “For you, its free…” yada yada.. Some houses do look better in Colorbond than tiles but I suppose tiles will never age in style. Or will it?? Perhaps it depends on what state you’re in?

Those elevated blocks are definitely unique. Was contemplating those too but numbers didn’t quite stack up. Someone I got to look at it for me said that you could potentially get slight ocean views from a 2 storey. It would cost in excess of over $230K to put the simplest 2 storey (lofty style). Plus interest holding costs, finished product is…[Read more]

Marisas right. Shut up shop till Nov when they’ll take on 12 more only in the Mandurah region. Prices would be up again from that quoted. I’m anticipating once summer comes round. Who are you thinking of using Regrow? Heard Highbury Homes turn things around quite quickly….

Looked into that estate too but its very exxy. I suppose its OK if you intend to live there rather than as an IP. Bruce is a very shrewd businessman who represents a group of investors thats been landbanking for what seems to me a long time now. Last I heard he was struggling to get council approval for that stuff up the front as they wanted them…[Read more]

Can I add a big thank you to Marisa as well. I had a look at Singleton for the first time over the weekend. I was thinking it was going to be a long trek into Perth but the drive out was a very comfortable 45mins on a freeway that still had a lot of 60km zones. The amount of developments over there is just incredible. Very impressed with Anchorage…[Read more]

Can I just add that if you are looking to get the stamp duty exemption in NSW also (which is worth up to $20K), you MUST NOT have acquired a property in Oz previously, irrespective of whether you only had a relevant interest in the property (which is OK for FHOG). Not sure about other states’ stamp duty concessions though if you had only owned an…[Read more]

Hi KP, can’t seem to PM you. If you send me a PM, I also have a guy at Celeb which I’m pretty bullish about too. I emailed the guy Marisa was talking about – hes still a bit off yet to start that business. I’ll be in the same position early next year so we could possibly get the same tradies…?

Rob W, Any luck with the double storeys? I was…[Read more]

Hi ya, my girlfriend and I were in a similar situation. I own a few IPs but she is can get the FHOG in NSW. We were looking at maybe getting something together >$500K but yes, she loses $20K stamp duty exemption so on the w’end shes put an offer on a unit at low $4s which has been accepted. She intends to live at home (unit currently rented) and…[Read more]

Sounds like you’ve found a lender. Is it still on commercial rates? I would have thought if you said you wanted 6 contracts drawn up, it could be resi loan and can maybe borrow more with LMI?? If they’re balking, then maybe try to stagger the settlement say 2x2x2 at a time? Would need the vendor to agree to arrangement too though.

Life IS pretty…[Read more]

You’ll find what you learnt at uni is of very little relevance in the real world of property investment and wealth creation. You’ll learn more from your fellow forumites than them case laws you’re used to trawling through. I’m thinking that Steven put you through an accountnat? I was going to suggest that you don’t just use any old accountant. You…[Read more]

Another article to add to the mix.

http://www.economist.com/cities/displaystory.cfm?story_id=4079027&fsrc=nwl

You mean Steven? Directors g’tee usually required if the trustee company borrows the funds seeing the co. is probably a $2 co. with no assets. This means the directors (you) will have to g’tee the obligations under the loan. Not too much of a hassle, just more paper work the bank needs to send out to you so a little more time consuming. But if you…[Read more]

One way to find out how much its worth is get a good offer then go to finance. Unfortunately the bank made us pay for the valuation – $1500 I think but that worked in our favour cos it came in lower than the contract price so I was able to negotiate vendor even lower to meet the valuation price. Make sure you go to a lender that will show you the…[Read more]

Are they the same as LPTs that invest in CPs? Guys at work structure that kind of stuff, some listed, some not and then offload them to retail. I recall from reading one of the prospectuses that they do rip a fair amount of fees out. They try to sell it as a pure income play – some with very little particpation of capital growth. All depends on…[Read more]

I believe the exemption may only be available between H & W transfers but I may be wrong. Could extend to father and son? Also depends on the states – easiest just to call their customer enquiry lines. Let us know how you go. Good luck.

Hi Caston, did it work? I reckon thats a myth but it sure does help. I’m 29 and recently moved back to the folks’ (helps on the finance application when you don’t have to put PPOR mortgage or rent figures).
Thanks Dazzling, this has been a very interesting post as I too am dealing with this issue. The folks actually like having me back although I…[Read more]