Thanks Simon for the reply and I did ask. They said the calculation was correct but would not disclose what it was based on. The LVR was 95% on a split loan. One part of the split was for $75K and the difference between the premium when this was P&I and when it was Interest only for the first 5 years was $2019.82. That seems a bit steep to me so I…[Read more]

Hi Foundation

If you are actually looking for holes in your theory, here is one that you may want to watch out for. Over the long term the median priced house you bought 10 years ago may now be in the bottom quartile. This may happen for example where new houses cost more to build than existing ones did. For the technical minded this is called a…[Read more]

Hi Ron

Here’s another one

http://www.khr.com.au/relocating/index.html

Cheers
[biggrin]

Hi Ron

Here’s a queensland company that does it. Lots of hints and useful info too eg there may be a useful extra $ in just buying a small local block and relocating the home. Costs suggested by Drake are about half the house cost eg if you found a home at the site like yours and the price was $100,000
it would probably cost around $50,000 to…[Read more]

Hi Ron

here’s a site that offers feasibility software. I have Not used it but have seen it recommended in other parts of this forum

http://www.devfeas.com.au

Cheers
[biggrin]

Hi Lumwood

I have used a time budget for many years with sometimes excellent and sometimes just worthwhile results. I have a full time job and only budget for core focussed activity that I want to achieve in excess of this eg time budgeting allowed me to complete my accounting degree on a full time basis whilst working in a demanding full time…[Read more]

Hi Jewel

Here’s my 2 cents worth.
There seems to be different accepted practices in different states.
When I’ve bought property in NSW 10% was expected, in Queensland they nearly fell over when I offered 10%- all the agent wanted was enough to cover the agent fees. I understand that in WA no deposit deals are the ” gentlemanly” way of things.

I…[Read more]

Hi Steve

Here’s my three

1) Tips and suggestions on sourcing and assessing a team and the skills to acquire to effectively focus them.

2) Best ways of achieving worthwhile returns and building wealth in a steady or falling market where affordability is a big issue

3) Where’s the best place to buy cashflow positive properties?[biggrin]Just…[Read more]

Dear Dr X

I got this idea from some motivational tapes by Jim Rohn many years ago.
They are three questions-
Who am I around?
What are they doing to me?
and Is that OK?

I find it helps to quota my time and attention towards people and interactions that inspire me, and away from those that don’t.

Congratulations on your successes so far
Cheers

Hi Wallace

IMHO ( which i’m hoping means ” in my humble opinion”) there are good deals everywhere – what you need is the education to see them and the time and effort to look.
EG1 the $45K deal mentioned by plp property
EG2 a few months ago I looked at a straightforward residential cash flow neutral property investment for $65K within about an…[Read more]

Hi Darren and Kerri and Dazzling

I think asking for references , yes from the PM, is a worthwhile way to add some information to your decision making process. as Dazzling quite rightly pointed out you are not going to get the dissatisfied as referees. However, what if the PM can’t give you “set up” references- that is telling you that they are…[Read more]

Hi Darren and Kerri

Though I agree with Dazzling there are two techniques that might help besides actually learning how to do it yourself.
1) Ask for references i.e. two landlords and two tenants who you can talk with about the PM – and then talk with them.
2) Sit in a real estate office of a candidate manager and listen- you can look at pictures…[Read more]

Hi BorgInvestor

Steve does in his “Buyer Beware” package

Cheers

Hi JD

I’ve been studying some property things for a while and here is one I think may assist your situation.
The basic idea is to turn a negative cash flow property into a positive cash flow property.
The strategy is called Lease/ Option and there are people in Australia who specialize in it.

Here’s how I think it may work for you
Your…[Read more]

Hi JD

Perhaps it would help to sell your property if you tried in different markets or added some creative extras eg a rental guarantee (that you could live with). Similarly there are techniques to improve your rental return towards cash positive. At least this would give you some alternatives to the “sit it out” option.

Thanks Redwing – very useful

I like the Region selection in advanced too

Cheers

Hi Candy

We bought our first real IP in Queensland when we were living in Sydney. The advantages of a Property Manager are:-

you can get landlord insurance

you get advice and assistance complying with local regulations (we were told about the locks we must have installed for example)

you have someone on the spot looking after your…[Read more]

Hi Rye23

I have had to claim on Landlord Insurance and I have to agree with Aussiexj, it is well worth it even for the experienced. As a rule of thumb I would expect the cost to be about 1 week’s rent.

Contents insurance is hard to tell because there are a lot of variables-for the property itself and the area. Easy enough to get a few quotes and…[Read more]

Just to add a bit to what the Mortgage Advisor has said.

The continuous 6months has to commence within 12 months of completion.

From the QLD OSR website:-
All applicants who enter into an eligible transaction on or after 1 January 2004 must occupy the home as their principal place of residence within 1 year of completion of the eligible…[Read more]

2 quick points

first some support for Foundation ( no pun intended) I had the same reaction to the Brisbane”HOUSE PRICES SLUMP” headline- I couldn’t find anything in the article as evidence except”3 per cent fall in the March quarter”

Second there has been some talk about first home buyers ” deserting the market”. This doesn’t seem to be the…[Read more]