G’day NishuG,

Nunawading has had some inmpressive capital gain/growth over the last 3 or 4 years. If you are after capital gain then you could do much worse… However, you will find it difficult to find positively geared properties.

There are parts of Nunawading that are “less desirable” than others. May I suggest that the Forest Hill side of…[Read more]

G’day Amni23,

Hmmmm – how about making a “Reality List” as well as a “Wish List”, compare the two, then meet in the middle…..

But I think that you know what I mean.

Or, alternatively, you could just move to somewhere near Port Douglas in QLD, and lie on the beach for a while. It’s very nice up there…

Either way, I’m sure you’ll have fun…[Read more]

G’day Amni23,

It sounds like you are looking to buy a principal place of residence – ie somewhere for you to actually live, as opposed to buying an investment property…..

Might I be so bold as to suggest that you buy with your heart.

If Carnegie does it for you – buy something in Carnegie !! If an “outer” suburb gives you what you want, then…[Read more]

G’day all from BDM,

In real life, my name is Matt. I’m almost 34 and my wife Robyn and I have 1.7 children – a beautiful little 2 1/2 yo daughter Kathleen, and another ( currently known as B2 ) due in August.

We own our ppor in Mt Waverley, Melbourne, and 2 IPs – both in Melb. We plan to buy at least one IP every even numbered year for the…[Read more]

G’day Fullout,

Unfortunately, I cannot answer your question about these country areas either. But if you crunch the numbers and they work for you, then go for it.

To me, my definition of wealth is “where income exceeds all possible expenses”.

If this is achieved by multiples of $30 per week – then great.

If this is achieved by capital gains,…[Read more]

G’day Bruce,

I have to agree with Mmmay1, in that there is currently a feel and a reality of “oversupply” of brand new inner city CBD (including the Docklands area) apartments here in Melbourne. I would recommend that while you do not totally write off the idea, it would well be worth proceeding with extreme caution before making a final…[Read more]

G’day Rick,

These are my suggestions only – feel free to agree or disagree !!

1. Crunch some numbers and decide for yourself what you think it is worth. You need to know your “maximum price” before you begin to negotiate. This is the most important step of all.

2. If by your figures you think that it is worth $230 K ( ie substantially more…[Read more]

G’day Andrew,

Bummer about the “eviction notice” – it makes life suddenly a bit complicated…

However, it has obviously got you thinking about the future, so that may well be a blessing in disguise.

Based on the info you have provided, I would suggest a little of option 1 and a little of option 2.

50 days is, in my humble opinion, not really…[Read more]

G’day Bluebear,

You are correct with the concept of using the equity to buy more properties until you have “enough properties”.

Then, instead of buying more, you either sell one or two to pay off most of your debt, or refinance to again eliminate debt. This process may take a few years if done conservatively.

Once this is all done, you live…[Read more]

G’day,

How about :

1. ” Rich is in the eye of the beholder ”
or ” Wealth is in the eye of the beholder ”

2. ” Wealthy ? It’s Easy ! ”

3. ” Get up and get wealthy ”

4. ” Retire Sooner and Wealthier- With Positive Cashflow Property ”

5. ” Think Positive Thoughts ”

Thanks,

BDM

G’day Gazza17,

A possible answer to your question is another few questions :

What can this adviser person do that you cannot do for yourself ?

Why do you think that this person will do better things with your money than you can ?

Have you investigated the validity of what you have been told ” ie done your own “independent research” or due…[Read more]

G’day,

Like Brett, I also work in an IT role with one of the “big 4” banks. Part of my role includes the IT support of the network of Financial Planners attached to the bank.

The “plans” produced by the software ( used by these Finacial Planners ) is also mostly “templates” as Brett mentioned. However, the software takes this concept one step…[Read more]

Dear 4walls,

I think that there may be a small but important mathematical oversight in your calculations…

Try this :

$80 pw x 12 months ( ie 52 weeks ) x 145 properties = 80 x 52 x 145 = 603200.

Use the $603200 figure and see what you come up with…..

I find my calculator a little bit of a challenge too early in the week.

I hope this…[Read more]

G’day

Matt – good idea about the “testimonials” in theory.

In practice, my wife and I sold our PPOR about 2 years ago, and we were impressed with the testimonials that the agent we eventually went with showed us before we signed up for his services.

Once the house had sold ( and in the agents defence, he did get us a good price ) I was very…[Read more]

G’day Emma,

The answer to your question can be another question – ” How long is a piece of string ? ”

What I mean is that what is good for you may not be good for someone else, and vice versa.

My suggestion is do some serious number crunching.

How much will it cost to buy in your preferred area of Syd ? What are the capital gains prospects of…[Read more]

G’day Rob,

My simple suggestion is to replace all the power points and light switches with new ones.

You don’t have to buy fancy ones – just cheapies at the local hardware shop is enough.

A coat of paint and new power points and light swtiches can make an old place look so much better very quickly and cheaply – thus increasing both desirablilty…[Read more]

G’day everyone,

I work in the IT section of a major bank. Part of my role is to help fix the problems that the financial planners have with their software / computers. I speak to at least 5 planners ( and usually more ) across Australia every day.

As a result, I have come to a similar conclusion the Steven Parker mentioned in his comments…[Read more]

Hi there,

I think what I enjoy and gain encouragement from is the positive attitude ( no pun intended! ) and enthusiasm from the participants of this forum.

Mind you, there is nothing like the subjects of politics, religion or money to start up a lively discussion.

Tails277 and Kirby319 have raised some issues that are obviously of concern to…[Read more]

G’day Karen,

From what you’ve written, it seems your situation is similar to mine in regards to loans – in a structure and security sense, and quantities thereof.

My wife and I had an investment property with quite a bit of equity in it. This enabled us to borrow against it in order to buy another investment property, thus ensuring our house…[Read more]

G’day MJ,

There is a school of thought, here in Melbourne anyway ( and as far as I am aware in Sydney also ), that suggests ground floor units/flats have a lower value than those on upper floors. This is mainly because ground floor units are easier to break into from a crime point of view.

Whether this is true or not is another story, but…[Read more]