Does anybody know where best to find a RE Mentor in the Toowoomba/Brisbane/Gold Coast area?

Anyone interested from SE QLD?

IRT = 'In regards to'. No biggy.

Quotes? Do you need this to complete the feasibility, get an idea if the deal is a goer or actually go solid on numbers?? If it is to roughly to analyse a deal ask for an estimate, an experienced one will give you a workable range. This should give you a start point, they would have completed work recently in the area if they are local and the…[Read more]

Ask to send a builder through, ask the agent who built the property or if the owners renovated. If they say 'I do not know' motivate the agent by asking them if they could find out because you could move onto purchasing the property much quicker if they did. What you are looking for is the name of the builder or the renderer that completed the…[Read more]

Ask to send a builder through, ask the agent who built the property or if the owners renovated. If they say 'I do not know' motivate the agent by asking them if they could find out because you could move onto purchasing the property much quicker if they did. What you are looking for is the name of the builder or the renderer that completed the…[Read more]

Ask to send a builder through, ask the agent who built the property or if the owners renovated. If they say 'I do not know' motivate the agent by asking them if they could find out because you could move onto purchasing the property much quicker if they did. What you are looking for is the name of the builder or the renderer that completed the…[Read more]

You need two accountants. Find a good Australian accountant that understands the Australian rules. Find a good Delaware accountant, not just American because they are a bit different over there.Ask the American one what to do within their rules and then tell the Australian one what he said. The Aussie one will tell you the pros and cons if he is…[Read more]

Just withdraw it into an account exclusively used for the IP, ask the bank to waive the fee or just pay it if you don't. Its all about justification with the ATO, if you only use that account for IP expenses it is extremely easy and quick to prove. Ask your accountant. The bank only calls it a savings account you can call it anything you would…[Read more]

Just a quick one. If you can avoid LMI do it. Have a think about what you are paying for. If you default on your loan the lender gets to sell your property back to the market and accept any price it likes. The short fall is paid by the insurer and then goes after who? Who paid for the dogs that are unleashed on…[Read more]

Best tip, and I talk from experience, I had a very similar 'experience' and was the best thing that ever happened to me regarding RE investing, I learnt this lesson very early. Get out of renting out tents and move into commercial real estate ASAP!Consult a solicitor if you are this worried. Most of them will have a first consultation is free p…[Read more]

Negotiate, go to another bank and see what they offer and then go back to your original bank and see if they will match. Better yet switch banks if they will do it for $0 (covering your exit fees as well). They want your business and ~$10k you are giving the other bank every year anyway with your current loan. For IP always use IO never P/I.Keep…[Read more]

Best tip I can think of is next time hit your accountant up for a trust structure before you purchase if this is going to be a regular thing for you guys. I know that does not help you now but maybe next time. The benefit is the asset protection with the additional benefit of having more tax options it is an extremely flexible and personally…[Read more]

Actually pressing the submit button from my end helps.  Should be GTG.

While you wait to get that info from the experts on this forum make sure you have all your financials up to date. Collect all your info into one folder ready to head to the banks, YEP BANKS. Pay slips, credit card bills, loan documents, personal debts, repayments on phone, cars, living expenses etc. All those documents are those the banks will…[Read more]

Thanks SNM,Any local knowledge? Which is the 'better' one IRT reputation on the GC? Anyone in particular in those RE agencies that you would recommend to approach? I've found that the keen and good RE agents, a good filter, will always be willing to go to the effort to open up a property and put the information together during the week. Thank…[Read more]

anne25 wrote:
hi all just wondering what you all think of the mtt Druitt area and St Marys in Sydney ? are they just great for postivie gearing or grow as well? as do you think 3 x3or 4 bedders priced around $310000 will do any good in St Marys ? Will they sell? any advice will help , im also looking for a good/cheap builder !!

G'day…[Read more]

Depends what you are looking for in particular and what you are willing to do to make it cash flow positive. They rarely, and even more now fall out being CF+. Think outside the box, sovle the problems of a building and you will more than likely have a CF+ property on your hands.