Hi KateWhat Richard is trying to get at is if you only pay the interest, then that leaves any spare cash available to service your second loan (if you get one). ie. have a friend who purchased a property for 72k in the early 90's, now worth about 450k at least, he only pays the interest on the property (and it ain't much on 72k), with the spare…[Read more]

Hi KateI am guessing your apartment is your PPOR? If its your PPOR, I always advise trying to pay this off as quick as you can, as the loan is not tax deductable. The bank will look at if you can service the loan. In your case, you have only saved for a deposit, you may be up for mortgage insurance if your LVR is more than 80%. Be wary of trying…[Read more]

Thanks everyone. Even though I have a cheque book and have bought at auction before, when I bought at auction and gave the cheque to the agent, the agent could not transfer any funds until I could transfer the 10% of the purchase price into that account on the Monday, so technically, what he held in his hand til late Monday had a face value of…[Read more]

Dave H wrote:
Not an expert in this area, but my feeling is that they'll want a cheque, so they may suggest that they follow you back home after the auction so they can collect it on the spot.

Thanks, but what happends if you don't have a cheque book but have the funds sitting in your account in the bank? (ie. I can make a cheque on the monday…[Read more]

Hi FrancisI think I know where your talking about, the new development next to Westal station. In terms of yield it should be okay, in terms of growth, it should be slowish until the development finishes, and with the rate of sales over the past three years, I would say it will take another 2 – 3 years before the development is complete. Until…[Read more]

Hi FrancislI haven't used either of them for property management but I purchased my home from the team at century 21/wilson pride from clarinda. I have to say that these guys would have to be the most ethical real estate agents I can come across, they don't play games. Con is a director there, really takes pride in his office, and Jim was…[Read more]

Thanks for input everyone, much appreciated.Masih, no offence but I am not warming to paying $1m on a docklands apartment. With the amount of activity going on in docklands, there will be an oversupply of stock there for quite a while still. I had a friend who just sold his docklands apartment and made a capital loss of 80k after holding it for 4…[Read more]

Thanks Jon, excellent, you have answered my question, much appreciated.

Thans Jon, but I am getting confused between site coverage and gross floor area, won't this be the same ie. if site coverage is 35% as an example, how can gross floor area by greater than 35%, ie. the building takes up more than 35% of the block?

any info would be appreciated.

thanks Steve, will confirm with my accountant.

thanks Steve, will confirm with my accountant.

thanks Steve, will confirm with my accountant.

Originally posted by Becky&Gordon:
Hi,

We have a clause in the contract that reads,

“The vendors warrant that all fixed household appliances, electruc light fittings, heaters, air conditioners, and other associated items are in good working order. They further agree not to remove or substitute any of the same, including curtains and drapes,…[Read more]

Hi YoungInvestor (Steve)

Ahhh I see, thanks for clearing that up, that makes much more sense. You seem much more mature than your age suggests, most people your age are wasting all their money on cars, lol.

Hi Daniel

Its great your saving for your first home. Try and save as much deposit as you can. The 100k goal seems like a good start. But remember, if your thinking od borrowing 500k, thats $600 interest a week. Are you able to afford this and all the other bills associated with home ownership? Unless you like to be highly geared, make sure you do…[Read more]

Originally posted by YoungInvestor:
True dat. SIS has been around for ages… wouldn’t mind a progress update from him!! [evo]

As for me, im 22 – Own 1 ip, now got enough deposit for number 2 and looking every day

As for how i started, save save save!! I saved about two thirds of my pay whilst in the last 2 years of uni working in a call…[Read more]