So noones had experience with it? Looks interesting, but at $1300 its not cheap.

Basically it gives a 10% yeild (roughly speaking).So lets say a place rents for $200pw, if you multiply that by 50 (weeks), you get $10,000. If you bought the house for $100,000 then you get a 10% yield.  If you factor in about 7% interest, 1% costs, some maintenance or whatever, then you still should make positive cashflow. So in the…[Read more]

Thanks Kenny.Planning Permit was granted in March 2006, so its almost 3.5 years old now. Planning department said its dead and we'd need to redo a new approval. Thats why theres no more accurate quote, there isnt an actual plan to quote from now. Plan would be to ask the designer to create a design thats on the cheaper side of that quote. I've…[Read more]

Havnt factored in borrowing expenses yet, I do intend to once I have a better idea. One option I'm looking at is JV with the builder (he's just out on his own and looking to get into development himself) with him covering all construction costs, which means I'd just need to buy the land and cover consultants/etc without needing a construction…[Read more]

On an old property of mine the BC fees were low, but any time substantial maintenance was required they always had to raise an additional levy to cover it.

That example was per hour of effort, not time elapsed. From memory it was something like $80k profit on a deal where he only put in 40hrs of effort. On the other hand the deal took a number of months to do, its just most of the work was done by consultants/contractors.

Is there any reason you cant just pull $10k off the homeloan and pay off the credit card and then cancel it?That way you're paying the 6% on the $10k rather than whatever your CC rate is.It also then means you have $220k equity and no CC debt which is better than $230k equity and $10k CC debt from a lenders point of view.

I would call the agent and tell him if he cant deliver the contracts to sign then you're walking away. Give him a deadline. He loses his commission if he doesn't.

I'd knock down the $10k CC debt first. Not only do you actually need to service it, but even if you paid it off the banks will still assume you need to service a fair portion of it. Cancelling or at least greatly reducing your credit limit would help a lot.Btw, thats nice equity built up on that income. Nice work .

Sounds interesting. Signed up for September one.

Any reviews/comments about this one? I see its not sold here anymore but still for sale on its homepage.

Anyone got thoughts on this course or any others?

I'm no expert, but the first thing I'd do is flip this on its head. If you bought an investment property and a few years later decided to move in as your PPoR would the ATO continue to allow tax deductions on the interests/costs because "for tax purposes a property cannot be 're-classified'". They obviously wouldnt (and definately dont), so my…[Read more]

I keep thinking thats a good idea, then get distracted by bigger deals :p

Good stuff

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If an agent doesn't come back to you an negotiate he's not doing the right thing by the vendor.Its been a while since I bought my last property, but I had an agent do this to me and in the end I think he took back 3-4 different offers to them after negotiating per normal. I had a friend get the same spiel about 2 buyers interested so just put in…[Read more]

Ahh ok. I think I get it. I spoke to my Uncle over the weekend who has done a fair bit of investing (passively) about Trusts/etc. Apparantly the way to get money into the trust is to 'gift' it. Therefore if I refinanced my PPOR to release equity, I need to gift that to the trust, and therefore since its a gift and not an investment I cant claim…[Read more]

Thanks Richard, gives me a starting point, I can also run numbers for 3 instead of 4.- Ben

Thanks d.davo