Well hey, I am now hearing of 6 likely rate cuts starting early in 2024.  Oh, wait – that is for the Federal Reserve – i.e. the USA.   Did THEY go too far, too fast too?  And was our RBA simply following their moves blindly?  Hopefully not – but it looks a lot like they may have been…….

So what now?  Are we really likely to have 6 x 0.25%…[Read more]

Hi DD81,

Did you hear back from your accountant yet?  Were there some useful takeaways from other replies (i.e. vetted by your accountant of course).

In short, how’s it going?

Benny

Hi David,

  Ask anyone in Kalgoorlie at the moment about how vulnerable the system can be. No power, no gas, no air con,

I hadn’t heard – what has happened in Kalgoorlie?  Sounds major – has someone shut off a tap somewhere?

Later – I went looking – a freak storm took out 200,000 KvA power line towers (which won’t get rebuilt overnight).  Not ju…[Read more]

Hi David,

  Ask anyone in Kalgoorlie at the moment about how vulnerable the system can be. No power, no gas, no air con,

I hadn’t heard – what has happened in Kalgoorlie?  Sounds major – has someone shut off a tap somewhere?

Benny

I simply don’t like putting so much trust into 3rd party systems especially when it comes to money.

Amen to that comment, Adam.  And how much more robust are any “digital dollars” liable to be anyway?  Have our systems got more clever, such that hackers, or failing power systems won’t affect them and our use of them?

Meantime, what can we do?…[Read more]

I simply don’t like putting so much trust into 3rd party systems especially when it comes to money.

Amen to that comment, Adam.  And how much more robust are any “digital dollars” liable to be anyway?  Have our systems got more clever, such that hackers, or failing power systems won’t affect them and our use of them?

Meantime, what can we do?…[Read more]

Hi Realist,

It didn’t look all that dark to me, but if it concerns you, first ask an RE agent’s opinion.  They look at things like that objectively and, if they think it could help, suss out the cost of fitting a skylight.  Could be that it may be money well spent.

And, if you have bought this as a rental, how much does it impact your bottom l…[Read more]

Hi Realist,

It didn’t look all that dark to me, but if it concerns you, first ask an RE agent’s opinion.  They look at things like that objectively and, if they think it could help, suss out the cost of fitting a skylight.  Could be that it may be money well spent.

Benny

Hi Eliana,

Check out my answer in this topic you started – https://www.propertyinvesting.com/topic/5093458-need-help-13/#post-5093468 – I think you’ll find some interesting thoughts therein….

Benny

Hi Eliana,

When I read this, my very first thought was “Never ask a barber ‘Do I need a haircut?’ as they have a vested interest in having you get that haircut.”  That RE agent in Gladstone wants to sell you a property.  In fact, RE agents are in business to sell you a property.  But OK, let’s take a look at Perth and Gladstone.

I have an ad…[Read more]

Hi Eliana,

I had a quick look around and found this (re Perth’s values):-

https://www.openagent.com.au/suburb-profiles/perth-property-market

Scroll to roughly the middle of the whole segment and you’ll see a graph showing House price growth over the past 3 decades.  It shows Perth pretty much stood still from 2007 until today.  That has me t…[Read more]

Hi Eliana,

I had a quick look around and found this (re Perth’s values):-

https://www.openagent.com.au/suburb-profiles/perth-property-market

Scroll to roughly the middle of the whole segment and you’ll see a graph showing House price growth over the past 3 decades.  It shows Perth pretty much stood still from 2005 until today.  That has me t…[Read more]

Hi Eliana,

Re your first question, I recall Steve saying things along the lines of “Grow your wealth in Residential until you have enough Equity to be able to move into Commercial, then live off that Comm Income”.  The reasonings behind that come from a few factors:-

1.  Resi investing is usually cheaper to get into (better when starting o…[Read more]

Using a different lender for IP’s was simply so that, if the proverbial ever hit the fan, my lender would not have the choice of selling my PPOR from under me.  Given that it is common to have had many years of paying down its debt before getting into IP’s, and its value is likely to have climbed, if a lender wanted to get their money, the PPOR…[Read more]

Using a different lender for IP’s was simply so that, if the proverbial ever hit the fan, my lender would not have the choice of selling my PPOR from under me.  Given that it is common to have had many years of paying down its debt before getting into IP’s, and its value is likely to have climbed, if a lender wanted to get their money, the PPOR…[Read more]

Hi Wayne,

Is this how it works? Also borrowing 100% value, will I also have to pay LMI for the amount over 80%?

Surely it would depend on whether you went for two separate loans or a cross-securitised loan.  By going for two separate ones, you would eliminate LMI (I would think).  e.g. Borrow deposit/costs against your PPOR.  Take out a se…[Read more]

Hi Wayne,

Is this how it works? Also borrowing 100% value, will I also have to pay LMI for the amount over 80%?

Surely it would depend on whether you went for two separate loans or a cross-securitised loan.  By going for two separate ones, you would eliminate LMI (I would think).  e.g. Borrow deposit/costs against your PPOR.  Take out a se…[Read more]

Hi BJ,

I’m from the South side of Brisbane (Logan actually) so I would say don’t go 40 mins or you’ll be into greenfield estates (i.e. all new and expensive – e.g. Yarrabilba, Coomera).  I think your choices mentioned are nearer 25 – 30 mins and are older burbs with a lot of possibilities for renos and/or positive gearing.  Other similar o…[Read more]