Great comments by Richard and being a fellow Bisbanite, certainly give him a call for his recommendations (the conversation could drift to good PPoR locations!). Reading other posts by Richard on the forum, I am also aware of the wealth he has generated through various property strategies. He may still have his API article that explained some of…[Read more]

Just food for thought. It’s good to work through all the options before jumping in. If you are looking to use the equity in your PPOR, you might like to think about the CG of the area, so you can keep pulling equity out (I say that, keeping in mind that you don’t want to overcommit the PPOR).

There’s another property investing forum -…[Read more]

What is the vacancy rate of St Mary’s? The investor interest in the area could have influenced whether it is a renters or vendors market. It could also be a bit of a more difficult time to rent as everyone is usually settled this time of year – but I am saying this more in principle rather than as a certain comment about St Mary’s per se.

What passive income/year do you want from your IPs? A passive income of $150K/year requires $2.5m assets generating 6% yield. This should be achievable in 15 years from a $1m base (you only need to generate an additional capital growth through market forces and manufactured growth).

The only way you can use property to level the growth in the…[Read more]

I would actually go a little different and put some of the money towards CF+ve properties, then another portion towards quick-turn deals. While this is a very active approach (as opposed to just buying CF+ve properties and letting them go), you will keep generating profits to buy the next property.

I would also be careful with using all your PPOR…[Read more]

+1

This really urkes me. I am currently trying to get a fence repaired, at the request of my tenant and we have had to do half the PMs job for them, then they can’t even do their little bit – the saga has been going on for over a year

*(^&^(*&*%#%^%&^

The only thing that makes me keep them is that the tenant is great and I can’t change REA…[Read more]

Hi Tamara

I haven’t developed any materials as such, but I was thinking along the lines of a handout to the owners to introduce them to the idea (since it is quite new to most), how it can benefit them, how you would manage the process and how they would be involved, and risks (to provide balanced information). I’m sure a simple information…[Read more]

Agree in principle. I like to make sure my IPs are doing the work rather than using the PPOR as a big credit card. As soon as you can, refinance the IPs and keep them on the line, rather than keeping the PPOR’s credit maxed (I appreciate that the loans against the PPOR turn from non-deductible to tax deductible). If it all goes pear-shaped, you…[Read more]

Hi Shank

Not sure about the living away from home allowance, since you are choosing to go to Sydney for work, rather than work requiring you to go to Sydney for their purposes (this could be where your accountant was getting to).

But as far as living outside your PPOR while you are working, as long as you rent while in Sydney, you can rent out…[Read more]

I may have missed something, but you would be looking to go into a JV with the seller to sell the property creatively??

What education materials do you have for the seller? If they don’t understand the concept, they’ll baulk every time, especially with the bad rap most creative techniques have on the internet. Since it isn’t as well known as in…[Read more]

Agree. I have IPs in SW Sydney and while I certainly wouldn’t change my decision, there is a lot of land being opened up in the area which will lower the CG for a number of years. Good to have some scarcity, combined with investment going into the area.

I am currently selling an IP and the advertising is paid when the property is sold or when the sales contract is terminated (if I decide to withdraw the property from sale before it actually sells). How the sales process is managed could depend on what state, even city/location you are at. If the area is large enough, I would get plenty of quotes…[Read more]

Hi Hot Stuff

Are you able to value add (eg renovate) the IP to increase your rental rate?? Are you charging market rates for the rent? As SuperAndrew says, it is costing you to hold the IP (so only a help to reduce tax) and unless you are able to improve the IP to increase the rental yield, it will take an awfully long time relying on market…[Read more]

Great advice in all the posts above. If you’re still looking for information about mentors, do a search on ‘mentor’ in this forum’s search function and you’ll come up with other threads about various mentor/coaching/advice programs and comments about these programs. Also keep reading and posting on the various sections of the forum – great…[Read more]

Agree here. You would have to understand the tenancy laws very well and be able to act quickly. How close are you to the property? If you are close by where you can respond quickly, its worth it, but if you have to continue relying on out of town tradies then it may not be worth it unless you have good relationships with the tradies already. It…[Read more]

Hi Sasharif

You can always go to different agencies to the agency that is managing the property. It is smoother to use the same agency as the one who is managing the property as the sales team can easily talk to the rental team, but you can always use whatever agency you like to sell the property. If you decide to go with a different agency, you…[Read more]

Hi Sasharif

You could approach a number of REA in the area to get a feel for the market at the moment. Remember that 2007 was before the GFC and house prices don’t always go up, they stagnate sometimes and decrease at other times. You could also use websites like onthehouse.com.au to see what they approximate the selling price to be, or get an RP…[Read more]