Qlds007 wrote:
Look have to say i disagree with the previous coments.I would also make sure the PPOR loan iis interest only at the same time and you should be good to go.CheersYours in Finance 

Richard,can you please outline why you said you would set up the PPOR with interest only. Given that it is non-deductible debt, isnt it a good move to…[Read more]

Hi Adam,I use Somersoft's PIA Personal Professional. It is a program that allows you to key in all the details you mention (price, loan amount, rent, interest rates etc.).Once all details are included, it will give you the net income/loss the property will generate in years 1, 2, 3 up to year 30.I have used it a nuimber of times to see if a…[Read more]

I also received a property report that I am hoping to purchase and it has been extremely helpful. I would recommend everyone to use this service if they are looking to purchase

Would definitely have to agree with Jamie, there is no reason why you can't enter the market and still enjoy a good lifestyleI purchased an IP when i was 22 (am now 24), with significantly less savings than you have, lived in it for 6 months to satisfy the first home owner requirements and then moved back in with the folks and rented it out. It is…[Read more]

wealthyjvd wrote:
Thank you kindly for the advice Simon!I have been hearing generally good things with re: to the Frankston council and very few hiccups that i guess is apparent in all councils which is good to hear.

I may have to play devils advocate and say that my experience (have completed 2 town planning applications with Frankston…[Read more]

Hi Scotty8911,I too recently faced this decision and started a similar post. See https://www.propertyinvesting.com/forums/property-investing/help-needed/4335319 for a number of the responses.As you will read, it really does come down to what you want to do at the particular point in time. Have of read of the above thread, and weigh up what is…[Read more]

Jake H wrote:
  Catalyst you said I wouldn't have to negative gear it if I do a good Reno, but I thought it was good to negative gear as you got tax benefits. Or am I misled?

Jake, As a most of the investors on this forum will tell you, receiving tax benefits should really be seen as an added bonus of your investing, not a reason to invest.If…[Read more]

scotty8911 wrote:
One last question I have, is there a rough set of guidelines for doing your due diligence? I know it includes doing your research on the area, owner occupiers vs. investments, people per household, infrastructure plans, but sure enough when doing research you will overlook something, possibly a big factor in returns, so is…[Read more]

Blitzad wrote:

Growing wrote:
Bank savings: 25k

Just a quick note, i believe he said that he has 25k in savings, this is a good start i would have thought. I am not sure, i am only new to this investing too. Cheers, Blitzad

Agree with Blitzad. When I bought my first IP, I had been working in my job for about 4months after finishing uni and…[Read more]

fda wrote:
blairmason17,For a 2 x double storey townhouses in Donvale on a 690m2 lot, they quoted $25,000 for everything is needed for a town planning permit and building permit, plus arrangement for builders and weekly site inspection by the project manager. Shoot them an email and let them surprise you! Get them to do a free inspection and…[Read more]

fda wrote:
hI bbasdg,In terms of dealing with designers and builders, I always find it easy to have someone that is a one stop shop who takes care of everything from start to finish as it saves a lot of time and hassle. If you are interested I can give you some contacts, the guy takes care of all town planning, architectural, engineering, b…[Read more]

Scott No Mates wrote:
The rates notice valuation (in NSW) bears very little relevance to the price that you might purchase the property. It is used solely to determine how much you will pay for council rates & services.It does not take into consideration the house or other improvements on the land which may exist.

This is the same in Victoria

I believe this is a response to NAB's offer of paying exit fees for Westpac and Commonwealth customers to make the switch.Hopefully such offers continue to come out so we dont have to pay these fees

luke86 wrote:
It is possible to get positively geared properties in capital cities, but you cant just go to the "Positivley Geared Property" shop and buy one. You need to create one by doing something out of the oridinary to bring the property up to its highest and best use- then you can gain maximum returns from the property and make it…[Read more]

Hi Laurie,As you said everyone seems to have an opinion and are always happy to offer their 2 cents. I am also a young investor (24yo) and have been fortunate enough to purchase 2 investment properties, both of which are in Frankston North. Similar to you, when i was looking to purchase everyone i spoke to had a different opinion and told me what…[Read more]

joshkay83 wrote:
Thanks jamie for your post!I guess its all about timing and deciding on a strategy. We live on the Gold Coast in Qld but wont rule out investing interstate or regional Qld.

Hi Josh, Jan Somers makes the comment in one of her books that regarding real estate, it is all about time in the market, rather than timing the market. I…[Read more]

Hi BigTeddyThe landlord would pay for the water service and the waster water service, with the tenant only paying for the water usage (well at least in my experience this is the case).The water service and waster water service bills would of course be a tax deduction

Hi Lesley,I posted a similar question recently on the forum. a few people got back to me and similar to scott no mates words, it really comes down to what your lifestyle needs are. if you are happy renting (with the possiblitlity of being kicked out because the landlord sell etc.) then this is fine.if you would selling up and renting would make…[Read more]

Hi RyanI discussed this last night with my partner and i think we have decided that buying a PPOR is the best option for us. She wants the security (as do i as well) so buying a PPOR will provide us this. Like some of the comments above has suggested, i think we are going to look at buying something that we can add some value to (which we have…[Read more]

ryan mclean wrote:
An interesting thing that I found out the other day. Robert Kiyosaki (who Authored Rich Dad Poor Dad), who preaches positive cash flow property. Bought his home before he invested in any property.Jan Somers also outlines buying your own home first and paying off the debt ASAP in her 'More wealth from residential property'…[Read more]