I couldn't imagine any solicitor (for the seller) allowing this.

What's to stop the buyer putting options on thousands of places then later just choosing ones that are financially viable? Nothing!

Great points Mark. Especially with all the rooms not being connected.

Personally I think tiles throughout an entire house can feel cold and impersonal.

In warm climates I like polished floors but in colder places I like carpet in the lounge. I always have carpet in the bedrooms.

Are you looking for a mentoring service or just someone to answer questions and guide you on your way?

Hopefully you are not just looking for someone to do all the hard work for you and tell you where and what to buy.

You need to at least have a basic understanding of what you want to get out of property investing and a few ideas of how you will…[Read more]

OK that makes sense. We don't have a PPOR loan. ) 

When we were negative I used to top up the LOC but now it takes care of itself. LOC is only for investments so no issues there.

Cheers

Jamie M wrote:
I would have thought there would be less taxation implications with that approach rather than paying the rent into an IP LOC.

Cheers

Jamie

Why? Rent goes in, bills, interest comes out. I would have thought that was pretty standard. I have a LOC that I use in that way. It stays at pretty much zero all the time. Makes it easier…[Read more]

tommytucker wrote:
Not true catalyst, there is an excemption to that rule for accountants although given the light training they have on everything I would not act on accountants advice unless they have a portfolio themselves. Similar to a financial advisor as well.

The 'accountants' exemption' which allows accountants to provide advice on…[Read more]

Ok. Can't help in Perth. Sorry.

 Look for wholesalers though. Not fancy companies that come out, draw you a nice plan etc. You are paying pretty high commissions for that.

Go direct and save $$$$.

Benny wrote:
Depends which river …..  

My thoughts exactly. What state, city???

Depends what you buy. You already have one CF- property. How much can you afford to be out of pocket each week?

If you put half as much time into trying to make money as you do trying to defraud the Govt you might get somewhere one day.

I think your time is misdirected.

Good luck.

Most councils charge extra if you want extra bins.
Not 2 lots of rates but just extra to cover the cost of giving you bins plus emptying them.
Our council wants $300 a year. No thanks. We'll make do with the bins we have.

Same as FMS said in NSW.

I think you are a bit confused.

The rates you have quoted would be for fixed rates. ie if you fix the rate for 2 years it will be 5.09% for the 2 years. You can't have an offset or pay down the loan during that time. It has nothing to do with IO.

They are different because banks assume the rate will go up within 3 years.

Normally when you take…[Read more]

Use Terry Scheer or EBM. They are Landlord insurance specialists.

Most of the general insurers don't have as much included. Read the PDF CAREFULLY.

BTW $594 is WAY too expensive.  Mid $300 is normal.  Edit. That's in NSW. Not sure how it is in Vic.

JAMES TANNER wrote:
I am working in Bali, and there has never been a better time to go over and get involved with the investment game. 10-20% growth annually. Great ROI'S to be had.

What type of work are you doing there?

About investing there-

Where? and in what? Gross ROI looks attractive but the bottom line often tells a different story.

Easy- It's on the contract.

Why not let them get a tenant. All checks done etc then give them the required notice.

If you can buy something and move into it for a short time you can then rent it out for 6 years (as long as you don't claim another home) and not pay CGT. Might be worth considering for you if you will be moving around.

Queensland does seem to have higher BC fees. Also those with pools and lifts are higher as maintenance is higher.
$900pq is a big chunk out of the rent. Not my idea of good value.

Townhouses can be a good investment, depending on what your strategy and goals are. But high BC fees eat into your yield so take that into account.

DO NOT just put it on the house loan. If you need to take some out for personal spending it becomes non tax deductible and you then have a mixed loan which messes with your tax. Make sure your loan has an offset account, or change to one that has (NOT A REDRAW do not let the bank tell you it's the same thing IT IS NOT!!!- IMPORTANT!!!). Put the…[Read more]

Hi Tom,
Good on you for thinking ahead so early.

Where are you located?

Have you heard of Nathan Birch? He started looking at property magazines at your age. He failed High School but still managed to make his first million by the time he was 21. He started in basic buy/hold. Google him. He's not a developer per say but his journey is…[Read more]