Thanks for the feedback guys.

Yes I will chalk it up to another lesson in the investing game lol.

Our Agent has in fact confirmed with Consumer Affairs that all outbuildings must have locks and keys supplied to tenants.

It’s just a bummer on top of all the purchasing costs, waiting for a tenant, fixing a few other issues already and now this…[Read more]

Mike this is such an awesome offer and one that I availed myself of.The report is fabulous – the amazing speed with which you delivered it, even better.Thank you very, very much for your generosity.Cheers Bambi

Thanks for that…I was afraid that might be the case. Appreciate your response.

Hi, I've actually been down this road myself and let me tell you the pitfalls can be huge.Admittedly in my case the three of us got together to purely buy investments properties, not to live in.We meet constantly for a period of twelve months thrashing out every possible scenario we could think of arising. You have to consider disputes,…[Read more]

Yeah, it's ugly.Guess whilst it's a rental I'll put up with it. When I come to onsell I'll definately ditch it.

No it's cyclone wire (checked with the man of the house)….

Marvellous thread. I'm in the process of buying a flat pak kitchen for a rental and was tossing up between the vinyl wrap and the laminate wrap doors.You've just made a decision for me. Many Thanks. Laminate wrap doors, here I come!

They are self employed. We didn't want to go for a low doc loan because the fees, interest etc (I believe) would be higher.If you could share say just 2 of the most common alternatives I would be really grateful. I feel I have a lot to learn and I also suspect I haven't picked the most knowledgeable broker.Thanks.

My understanding of a LOC is that we would use our respective PPOR as collateral for the LOC. We are three mums who have set up a Company and Unit Trust and want to keep our investing completely separate from our personal properties.

Hmm, not sure I follow any of that myself, but many thanks for the suggestion. I will educate myself and get my head around all the options, in hindsight we should have nutted this out ages ago.We definitely don't want a line of credit, at this stage anyways. We wanted to achieve our first IP using only the IP as security and not having to use our…[Read more]

Thanks for your feedback guys.What do you think of the MembersEquity loan of 7.59% fixed for 5 years IO? There are no fees. We thought by putting down 20% for our first purchase we create ourselves some automatic equity and with a bit of work on the property we have bought we believe we can create even more equity too. Something that we can then…[Read more]

Thanks Alison,I've in Victoria, so I'll have to give it a miss this time around. If you do the same thing again in Victoria I'd be interested.

What state is this in?

Can't go past Dale Gatherum for my money.www.gatherumgoss.com

You should grab yourself a copy of this months Property Investor Magazine. The cover story is "What you can buy for under $300K – affordable properties within 20km of capital cities"…….your request fits with this article.

Heaps better Steve! Love that you can easily see the latest forum posts – great improvement

Good question – one that I myself ran past our Mortgage Broker who said NO WAY should you buy as and/or nominee BEFORE your trust structure is in place BECAUSE two of his clients had done exactly this and been burned big time by the ATO and if memory serves me correctly they had to pay double stamp duty because it was deceptive.
I may be foggy on…[Read more]

Thank you very much for the brilliant feedback. At least now we have some ideas of exactly what we need to thrash out before we see a Solicitor.
Superb![biggrin]
P.S. I have absolutely nothing against Lawyers I used to work for them for 15 years.

In Victoria at least you can transfer your pricipal place of residence to your spouse without incurring stamp duty. I know because good friends of mine have just done exactly this to separate their business dealings from their home.

Cheers BJ

Hi Bruce

Recommended structure would be a Company and Hybrid Trust. This can be set up by an Accountant or Solicitor at a cost of about $2200.00 – $2700

If your family home is in your name, you would have to transfer it into the trust which would have you paying stamp duty. Best to discuss this aspect with a Solicitor, you could just transfer it…[Read more]