I don't think current predictions of 'gloom' are based in any reality what-so-ever.Firstly we do know that every other country with booms like Australia has had have since fallen over, Ireland, Britain, Netherlands, Spain, Sweden, US. But the difference for Australia is that the prices seem to be justified. Other counteries (mainly Ireland,…[Read more]

If you have the 20% deposit you can pretty much lend as much as you want.

I think the big thing that you look back and remember is that these have been extremely good times for investors. Absolutely everything has gone our way, only a few tiny pockets of properties have ever gone down. We have had cuts to capital gains tax that makes capital gains tax pretty much insigificant. We have tax deductable negetive gearing,…[Read more]

That market ‘crash’ was a joke. Seriously after that ‘crash’ most of us are still in profit from november. And alot of mine were already pulled out and going short. ‘corrections’ only happen in stock markets because there is pack mentality in that when it stards to decline, everyone wants profit and sells, pushing the price lower. When it starts…[Read more]

People hoping for a solution to inceasing debt need to understand the moeny system. I don’t think most people understand that debt has to increase. The money system IS debt. The banks create money by converting private debt into money. It is impossible for everyone to ebolish their debt. To repay one loan, more must be loaned because the interest…[Read more]

How close is it to auction? If it is within a month then the seller usually has to go through with it no matter what now.

The best way to do this is to approach the agent and seller during an inspect and when they say no offers, make it clear to them you want to make a generous offer if the house is not passed in. Then when the top bidder wins…[Read more]

Your account is correct.

Think of it this way, you cannot loan money to pay for rates and expect to claim that interest. You can see here http://www.ato.gov.au/individuals/content.asp?doc=/content/66031.htm&page=9&H9 the basic overview. You cannot claim interest on anything but the actual loan covering the cost of the property, not coving the…[Read more]

If you have building insurance they should already be taking into account the land value. Yuor insurance money should be to rebuild the house and pay for contents, nothing to do with land. I don’t see how anyone would say you are insured for land+building+contents value. Usually they would pay upto $315 you said minus UCV.

Firstly, good luck finding a rental. Most houses for rent have 30+ applicants now, as even the cheap (as you say bad) areas all have houses seling at $300,000 and are becoming unaffordable to most of the average working families. I don’t know what job you have and if you have kids etc. but you want to look like a rich single couple tto get picked…[Read more]

YOu make $63k and have a debt of $293,000???

Man you will be close to bankrupt is interest rates go up. How did you get the bank to loan you so much money? Just rent those places and you should be fine it you can afford the extra repayments. Else I would just sell one and pay off the other.

Is still believe the best start is to always get yourself out of debt. If you don’t own a PPOR then don’t invest. You probably won’t make more than the interest rate on debts once you consider all the costs involved.

If you can live at home for free then you should do it.

Not sure why the 6 months were ‘tough times’, that $7,000 is $270 per week for 6 months! There is basically nothing to loose here and everything to gain. A $140,000 unit will defiantly not drop in value.
Technically if you are being assisted by your family in the purchase, or they are…[Read more]

I assume it is brick house?

What you can do is pay about $2,000 to $3,000 and render the house with coloured concrete, will look like a different home, no cracks to be seen, and then get rid of it.

As long as the foundation is ok then cracks are not a worry. IT is when you have cracks from the corner of a windows running out to the corner of the…[Read more]

Things change quickly.

Over the last week I am begining to see houses go for above asking price and sell very quickly.

It is very scary now, I saw one house asking $310 and getting so many offers it ended up selling for about $322 I believe, now a nearly identical house is asking $359 and looks like it will sell, scary to see such jumps so…[Read more]

Hi have heard nothing but bad stories about buying new units of plans.

Firstly thay almost always cost far to much. You need to start looking around tonnes of units that are similair and see what they are selling for. Remember the actually selling price is usually 5% to 10% below the asking price, and then all the other costs etc. Claiming 7%…[Read more]

Most lenders just go on computers now, it won’t matter how much you save, they only care about income. Sure you if you save 20% of the purchase price, you don’t have to pay LMI (about 4% of the purchase price), but saving more money won’t make them lend you more money. They will simply lend take your gross income, subtract debts and times that by…[Read more]

If you are single income then I think your number 1 proiority is always to avoid debt. If you can sell it to totally live out of debt you will be far, far, far ahead of the average australian family that pays over $500 per week to service debts. Basically if you are single income you won’t be paying down any loan quickly at all, probably 20-30…[Read more]

34%? 6,500? Unbelievable, where is this from? Seriously you can go out right now and get a credit card. THen get a second one that has 6 months interest free for transfering a balance, and transfer it accross. 0% for 6 months then 9.9%.

I imagine a family budget is very though. We are trying to save at about $700 per week at the moment and upto…[Read more]

LOL my girlfriend works for Ozinvest

All I know is they about 800 properties in SE QLD and about 1,500 around sydney. THings have been all good for a long time particularly in brisbane because rentals are so hard to find, and I can’t see this changing anytime soon.

What I would do is try and buy below $300k and stick to an area close to…[Read more]

Goto infochoice.com.au and shop around.

Seriosusly big bank interest rates are so high its typical for people to be literally chucking away an extra $50 per week.

Some banks are good because they not only have no fees, they also wave LMI, ANZ do this I believe, so if you are short term holding an IP they are probably the way to go, if you don’t…[Read more]