As mentioned you need to separate the original $380K loan from the money you will use for your PPOR. If you don't you will have issues with the tax department because it will be part personal and part investment.

I'd change the $380 to interest only NOW.  You don't want to be paying down deductible debt when you will have non deductible debt in…[Read more]

Josh Atherton wrote:
The construction of new houses is not really an indication of a booming property market, it is more an indication to the success of property marketers. 

So true. I remember Sydney 2002. Developers were building like crazy to catch the craze going on. Resulted in some shoddy work due to the rush and then the boom ended.…[Read more]

Yeah we've been saved a few times from getting the sizes wrong. My hubby thinks I'm going a bit far asking him to hold up cardboard while I pretend to have a shower though. LOL 

We fight over shower sizes. I like room to move.

Tell them to go away. It's their fault if they didn't get it right.

If the buyers solicitor made a mistake it's up to them to make good. Of course he'll try to get you to pay it.

They aren't going to go to court over $622.

I wouldn't call that a third bedroom. It looks tiny.  What will the size be? Looks less than 2m X 2M. Ok for a study I guess.

It's difficult to assess the width of the kitchen. Have you looked at the distances between the cupboards and the island bench? 

I'd be drawing out on a floor somewhere and walking it. We do that with bathrooms to see if…[Read more]

Hi, Google Nathan Birch. He has some great Youtube videos and also look at his Invested website.

Nathan is inspirational and tried to buy his first property at 16. He did buy his first I think on his 18th birthday.

If you are in Sydney I'd recommend meeting him. He's a wonderful young man (showing my age here) and has encouraged many people on…[Read more]

Agree with the townhouse, also you will be less likely to outgrow a townhouse (with kids).

Demand in Blacktown/Mt Druitt at the moment is crazy so it will not be easy. Maybe look at surrounding areas also. Eg St Marys.

Good luck.

Thanks, I have been to a few of those free workshops where they talk about some different strategies but my property has been working well for me so I didn't see a need to change. Things are cruising along nicely and there's nothing for me to do. I don't really want to increase my portfolio so trying not to look. LOL.

But I'm getting a bit bored…[Read more]

What will be the setup?

Pay a fee per meeting? or for guest speakers?  Do you have any suburb or area in mind?

Have you put it on meetup.com?  That's a good way to get members.

Good points. People tend to put down things they don't understand.

I have found that people also get very protective of "their" way. It worked for them so it must be "the right" way. It annoys me when "experts" make blanket statements like "you can't make money out of buy, reno, sell" Dymphna (at her last workshop).

Can you please explain what…[Read more]

What do you think the potential of growth is? If you see growth hold on but it will take a long time to get rid of a negative CF of $80pw.

That is a LOT of negative CF for a cheap property. Why is it so high? Have you fixed the interest high?

What's the rent?

There are lots of variables here so can't comment on which is better for you.

If you want to live in an area that has a low yield you can be better off renting (as it's cheaper than buying) and buy an IP in an area where yields are higher (thus covering most of the costs).

You may also live in it for a while then move out and rent it under the 6…[Read more]

tI think it's more to do with the Significant Investor VISA, whereby foreigners now have another way to get into the country (if they have money to invest).

These are going like hotcakes and there is a massive waiting list.

Info here

http://www.interstaff.com/immigration/significant-investor-visas.php 

You don't need to look for an empty place. Just ask for vacant possession.  That way the tenants get notice and you can  do the quick reno then rent out. You should get more rent that way also.

As long as it's not a fixed lease. Check when it expires.

Sounds great to me based on the figures.

Cash flow positive with likely CG. Can't ask for much more than that.

You need to have an exit strategy though. No good if you are stuck and need the money if you can't sell them.

Are they separate titles? What's the vacancy rate?  Would you need to do anything to them if you needed to get new tenants?…

Like what?

And for what purpose?

Unless it's absolutely necessary why would you want to reno while they are in there? Are you thinking of selling?

It would need to benefit the tenant, otherwise they would be reluctant to give permission. You'd need top detail what you intend to dop, how long it will take etc. Also detail how you will compensate…[Read more]

The Property Investor Summit is a group of successful investors that are basically spruiking for you to go to their courses.

You get some info from them so it can be useful if you are just starting out. I would recommend going if you have the time and want to hear about different strategies in property investing. Of course they make it sound like…[Read more]

Doesn't sound very approachable if you can only get answers if you ask "the correct questions in the right way"??? What's the right way?

Most beginners don't know a right and wrong way, they just need guidance and support.

Daniel I'd put it in the "too hard" basket. There are plenty of great companies out there. Why struggle with one that is…[Read more]

How have you calculated $70K equity?   If your loan is $355K  then your loan is already over 80% so you likely couldn't borrow anymore.

You can usually borrow up to 80% of your house value. Sometimes up to 90% but you may have to pay Lenders Mortgage Insurance (LMI). 

Assuming you DO have money to borrow from your house you set up a separate…[Read more]

What is the breakup of the strata fees? If the sinking fund is high then this may be to pay for upcoming property issues being identified. If this is the case they should go back down again after sufficient funds are saved to do the works.