Sounds like you're keen to start your property adventure but really-

If you don't have any deposit and haven't been approved for finance who in their right mind would sell you a property and wait 7 months in the hope that you can follow through on the contract?

Yes you can stick your money in the bank but in 10 years time you'll still be in the same position.  

You have the potential to set yourself up with a multi million dollar portfolio but you have to get over your fear of debt and a bit of negative cash flow.  Not wanting to work will seriously limit your opportunity to "make it"  though.

Everyone…[Read more]

Who told you that? Speak to a broker. I've not heard of anyone having to pay 30-40% deposit.

Hi, to add to what Jamie said.
People make the mistake of thinking if you up the loan because you're making it an investment property that you can then claim all the money as a tax deduction. This is not the case.

Regarding the 6 yr rule-
You can apply the 6 year rule to only one PPOR at a time. So if you apply it to the first house you will pay…[Read more]

jim64 wrote:
I get my release from restoring cars,being a Holden boy,the collection includes only classic cars of the 1970,s.Have a HQ SS,HX Sandman ute,HJ Sandman van,HZ  Monaro,HJ  Monaro,HQ Coupe.I have a bloody big shed!!!!!!

My BIL has an FJ. Started restoring it 25 years ago and it's just been sitting in his garage. He has it on Ebay…[Read more]

There are meetups that happen every few months if you are interested. It's a great way to network and chat to like minded people.

Look on Meetup.com   Sydney Investor meetup will be having a new one soon in Parra or Baulkham Hills.
They also meet in Chatswood.

If you are paying down your PPOR when you change it to an IP there will be less deductible debt. Then you have to borrow for your new PPOR which is NON deductible debt. By making your current PPOR IO your loan will be higher which means more is deductible. Then the money in the offset can be used to buy the new PPOR.

Always pay down non…[Read more]

What does "more" mean? 1% more? 10% more? I think it's just a story to fill the paper.
You can't accurately say why a person is breaking a lease.

As rents go higher though more people will opt out to buy, especially with low interest rates. They can see little monetary difference between renting and buying. But also people will look for more…[Read more]

There are many people on forums who actually are mentored in a way by other people on forums. People send PM's then get aquainted that way. Some people don't want to put all theior info and thoughts on an open forum.

Most posters are willing to help others get started. So while not technically a "mentor" they are in fact assisting people to…[Read more]

As mentioned- knowing where you are located will help. I keep asking for this to be on everyone sig.

What courses/mentorships have you paid for?

I'm in Sydney and invest mainly in Sydney. Strategy ATM buy/reno/Hold.

Laury wrote:
Does being a mil in debt make me a millionairre?  if so I think I will pass!  Theoretically in a few years time I will be a millionaire and I will be doing the same as now – chipping away at a big assed collection of mortgages!

No it doesn't make you a millionaire. That would be too easy wouldn't it!  I consider someone to be a…[Read more]

nguli wrote:

Derek wrote:
Hi Steve,

At the moment quoted posts appear immediately underneath the original comment whereas the old forum the last post was the last post irrespective of whether or not it quoted someone else.

New format now means I have to try and find the new post in amongst the whole thread rather than just going directly to…[Read more]

To get a professional look is not easy. I did a short course at Bunnings. Getting it totally smooth wasn't easy (and that was a small area) And you need to get it all on before it dries out.  Watching the professionals do my PPOR was eye opening. It's definitely an art.
Try doing a small wall or back wall first if you think you could do it.. 

You…[Read more]

Welcome Daveskis. Water or snow??

Have you bought? hoping to buy?

Mr Prop wrote:
Thanks for your reply Kong. IMO and from what I see in Sydney and Melbourne is that many investors are flooding the market (selling up), clearly it's not working for them in this tight market and they just want out. A number of Agents I've spoken with confirm this too. Sad times for many and lucrative for others. I have to agree…[Read more]

If one is only 2.5yrs old there should be a lot of depreciation on that. How come it is still negative?
May I ask what your getting in depreciation?

"they" do say lots of things.
The problem is people tend to lump property into 2 baskets
1) high CG negative geared
2) low/no growth, positive geared.
While there are loads of properties that fit this criteria there are a lot more than 2 baskets.

If the "they" that Bardon is talking about are correct then over time city apartments will double in…[Read more]

NHG wrote:

cs_rlewis wrote:
From what i read i believe a negatively geared property is more suitable to lower the amount of tax you pay and is more likely to appreciate in value over time.
So from that perspective I do hope my property is negatively geared.

Well to claim back on tax, it means you are making a loss. Your property would have…[Read more]

What? that's ridiculous.
If you have separate meters you get 2 accounts right? Or they listed separately on the one account? Either way you just photocopy the account and send it to the agent. They forward to to the tenant.

Where in Western Sydney? It's a big place.

Elliot Shiner in MT Druitt is great.

Insurance on anything you very rarely use but can you afford not to have it?
If you own houses your building insurance will cover a certain amount (like public liability).

But if you own units the public liability only covers common areas.
So can you risk a tenant getting injured (or dying) or a workman getting injured? got a cool $10 million…[Read more]