The other option is to work part time and take leave when renovating, so you can effectively spend your time wisely with getting each project done as quickly as possible. The key is balancing serviceability with your investment plan. If you go hard early and commit to each 100%, you will be able to take it easier much sooner.

Generally this isn't too much of a problem, the hits can be explained away and the lender will move forward from there.

The main issues come when theres multiple hits for credit cards, personal loans and the like, as opposed to property purchases  which can be substantiated.

Generally most investors stay employed for a number of years to enable continued purchasing. This may open up other avenues such as development, renovating etc which can increase yields and capital gains. Of the number of property investors, I know of very very few who are effectively unemployed and investing, they either have invested for a…[Read more]

As everyone else has warned, generally not the best investment. Restricted LVR's, more difficult to sell, limited capital growth, high body corp fees.

Because of those factors, that's generally why they are cheaper than normal apartment alternatives.

I genuinely do not believe that there necessarily is a binary inner suburb high CG lower rent / outer (slummy) CF low CG system in all markets in Australia. There are many outer suburbs which have consistently outperformed in % CG terms whilst offering higher rental yields. Especially where inner suburb living is well and truly matured in most…[Read more]

7%+ yields in Adelaide are easy, you'll just be buying up old housing trust stock. Playford council will fit your needs.

Alternatively for a slightly lower yield in the 6's you can get in around Hackham, which some may argue is slightly less 'feral'.

I've been purchasing Adelaide properties at 8-9% yields personally.

I'm not sure there is a single website for this. I generally work off the council site for the relevant area + generally there is a State plan for the next x years showing the vision of how the city is moving forward.

If it's for your own property to live in, tiles for wet and high traffic areas with carpet in living and bedrooms are a good combination.

Floating floors can be OK, but they can potentially have longer term issues.

I still believe the best flooring around is solid timber floors, but outside of older builds they are far and few between. 

I've seen this work a number of ways, including direct talks to developers, however that can be a length drawn out process which may not achieve any greater outcomes. 

Side by sides are frequently being advertised through normal real estate agencies, who advertise the two properties as a development potential deal. You may find that you can…[Read more]

Generally the main concerns with commercial IP's are that:

They can sit vacant indefinitely

Capital growth is not generally consistant, some properties wind back whilst others are sluggish. Quite different from the residential market.

Higher deposit requirements and different lending with regards to rates, products, loan terms etc

In saying…[Read more]

Also Cheryl, it's wise to take what the real estate agent says with a grain of salt. After all they are legally required to work on behalf of the vendor and pursue their interests, not yours! The property may indeed be worth 300k after a reno, but it's best to verify this by looking at the sales prices of renovated properties in the area to see if…[Read more]

I do know of a few brokerages which charge a fee for service like you've mentioned.

Other fee's a broker may charge can include a fee for service if the loan amount is below a certain amount (ie, $100k), or clawback provisions (if the loan is discharged in less than two years, the brokers commission may be charged to the client).

The most…[Read more]

Generally everyone hits the Valex clearing house, however this is only if a kerbside or full val required. For most deals sub 90% ANZ will use APM. As it's not a very robust engine, a below median val property can receive quite generous val's with the modelled estimates. Likewise higher median properties can suffer, but there is a dispute process…[Read more]

Interest only and Offset sounds like it will help you out a lot in this situation. Put any extra funds into offset to maintain the maximum deductibility should you make it an investment property.

I've had quite a number of separation deals in the last 12 months, overall the majority of deals results in one partner buying out the other. The…[Read more]

+1 for better to aim to remove stamp duty. That will dramatically reduce the deposit requirements for First Home Buyers entering the marketplace, and allow more fluid transactions of property with less cost barriers.

Whyalla and Port Lincoln have been stomping grounds for investors for a reasonable while. Prices fluctuate quite rapidly, particularly when mining announcements have been made. I've known investors to double their property values in 4 years, and others lose 20%. It has it's risks, which outweigh the benefits for me TBH.

Not the best product, but it's a useful niche. As mentioned previously in the thread, the 20k credit card would be used to bridge the gap in covering some/all your govt charges and allow a larger amount of your deposit funds to go against the property.

The product is useful if you don't have a sufficient deposit to cover a min of 95% including…[Read more]

Hey Mikal, did the Dip through NFI, pretty straight forward.

IMHO the study is not that useful and or relevant to the industry and providing a good service.

If you want to have a chat about joining the industry and what it's like, feel free to let me know. I'm based in the CBD.

Another vote for Depreciator, they do a fantastic job.

Not all lenders will do 95% for construction IP but there are a decent number of lenders which do, not much of an issue if you fit credit scoring models.

Where in Western Vic are you looking to build?