No good accountants out west ?? lol …

Anyone know of a good accountant on the west side of Melbourne ? Even somewhere around the city is good too.Kew, Mt Waverley, etc is kind of far. Thanks !

Qlds007 wrote:
The other product which will be withdrawn or amended is the Pro packages as at 0.7- 0.9% below SVR there is no money to be made.

Crap ! I hope you're wrong ! The pro packs have been great for me ! ..

To allow me to sleep at night, I try to stay around 80% LVR for my entire ppty portfolio.It's sometimes lower, sometimes higher but 80% is the compromise I feel comfortable with. It allows for significant growth w/o overextending myself.

I would like to add a possibly related question … how much does it cost to knock down a really old house and prepare the land ready for construction ?

devo76 wrote:
As all would agree. Positive cashflow cannot be found easily today with most properties needing renos to achieve anything close to positive cashflow.Or you have to look in remote areas.Now if we see a housing slump like the US with possible 30% to 40% drop in house prices(god i hope not).Does this mean coupled with rent increases…[Read more]

Caroll wrote:
Hi I'm just beginning – Can someone tell me where to look for the auctions passed in? Thanks

In Melbourne, they publish the auction results in the papers including those passed in.

v8ghia wrote:
Hi Beaniemonster. Along those lines, any thoughts on the following as far as the actual areas and from a property investing view? COLACSTAWELLARARATHAMILTONMARYBOROUGHCheers.PS Won't tell you what best forgotton part of rural Vic I spent most of my childhood in – scarred me for life..

I have a few IPs in the Horsham / Ararat area…[Read more]

CN wrote:
Why are the corner blocks cheaper? Seems like noone really likes the corner blocks, i guess when resell later on there wont be much capital growth?

Yes, they are generally less popular especially in newer estates. Some of the negatives are …- Feeling of less privacy / security (i.e. "exposed")- Generally along a road- Much more…[Read more]

Thanks Rudolph .. I think I'll get an inspection as recommended just for the peace of mind.Can anyone recommend a good building inspector that can service the Williamstown area ?Thanks !

Richard,Yeah, I just got the bad news a couple of days ago so I am planning my next steps. I've always dealt with Westpac (contrary to popular advice) so all my loans are with them. Call me lazy but its just convenient. I guess this is as good a time to start looking at another vendor. Can you recommend a good mortgage broker in Melbourme ? I was…[Read more]

Yes, I have a first hand recent experience with this. Having made 3 IP purchases in the past 3.5 years, I am a bit low in cash / equity savings. However, I came across another property that I wanted to buy. Struggling to muster up about 5% deposit, I need to have mortgage insurance. I have relative good income and quite comfortable with the loan…[Read more]

oneiricer wrote:
I was trying to imply that it is not 'sustainable' which is to say, there is an extent to which you can depreciate properties, correct?

the idea is by the time you reach that "extent", you would have paid down enough of the mortgage or rents would have gone up by then resulting in the property being CF+ all on its own w/o…[Read more]

DraconisV wrote:
I wish I bought one of them, then I would be officially a property investor.Give me 2 and a half years and I will be jumping in and soaring higher and higher. I'm so excited about my future, I don't know how people can keep on living their day-to-day if they have no dreams or desires. You've got to dream a little, then wake up…[Read more]

bennido wrote:
There are CF+ places in regional areas that will be CF+ without doing anything. Just go to realestate.com.au and do some research.Here are some quick examples I found without much effort at all. If you can bargain down the purchase price they're even better…[Read more]

Shane Law wrote:
Thank you Bennido for providing examples for us new to this investing!!However when I look at the first property and apply the "11 second solution" that Steve McNight advocates it does not fit into this category. Am I missing something?

No prob mate. And those were only some examples that I got off the net after doing 10…[Read more]

Stuart Wemyss wrote:
Can I shamelessly plug one of my articles in API on this very topic???See http://www.prosolution.com.au/articles/x-sec.pdf 

Good article, but your point about valuation costs is not really accurate … the sector is so competitive now and banks (at least the major ones) will pay for the valuations ..

L.A Aussie wrote:
There was a case in the courts a couple of years ago between the ATO and a guy who capitalised the interest on his investment loan while paying down the PPoR loan. I think the ATO denied his tax claim, he sued the ATO and it went to court. Correct me if I'm wrong if someone can remember this case.The ATO lost the case for the…[Read more]

There are CF+ places in regional areas that will be CF+ without doing anything. Just go to realestate.com.au and do some research.Here are some quick examples I found without much effort at all. If you can bargain down the purchase price they're even better…[Read more]

No, its not a normal thing. Could it be a pro-rated amount for council rates, water service, etc already paid up by the seller ?