Im not sure if its an issue in Rockhampton, but if yoy buy further north in say Cairns/Townsville, insurance is double in what it is down south, due to storms/cyclones.
If anyone knows an insurance company who will insure as the same prices as down south, im all ears!

I have a couple of blocks and you dont pay body corporate if you own the lot. 70% is the norm, but I recently found someone who will do 75%.

Maybe some of us are humble Cremin and like it that way, but if you want some reassurrance Ive done 50 properties in 3.5 years. I only had 3 when I was lucky to meet David Bradley when he was just starting out. Took his advice and bought alot of houses to wrap. I still do a few wraps, probably another 20 in the next year, but also now buy whole…[Read more]

You will find Heatherton is not 30klms from the beach, Id say about 7klms or 10 minutes in the car.

I just had a block of flats surveyed for $660, so stay clear of the $1500 one. Rip off!

This is a formula I was given by a NAB personal banker 3 weeks ago for a loan I had.

$84,000 * 6.56% pa /365 * 34 days = $513-30 per month

The biggest difference is that you have to have about 40-25% deposit. 40% will get you the deal based on the income of the property alone, whereas 20-25% deposit you will have to provide financials.
Their is nothing wrong with investing 5-8 hours away or even overseas, as long as you have a good property manager.

Tasmania was discussed as an investment option at the recent Kiyosaki seminar. The general consensus was that why would you even bother buying there in the first place, unless you are a local. O prospects for population growth. Declining industry. Basically a waste of time.

PS These are not my opinions, but were by several RE gurus.

Because you can get 80% doesnt mean the area is bad, it means that the area has been saturated with alot of investors lately or First home buyers paying inflated prices for house and land packages and the mortgage insurers wont insure for 90%. I have heard that you cannot get LMI for the Latrobe Valley and Narre Warren South!

You will find a few people could retire, but hy would someone want to retire when they are making so much money?

I was told a story today by an agent who was about to evict someone. Asked why he couldnt catch up his payments, his excuse was my Austar and mobile phone bills are due, it will have to wait!

A couple of suggestions

“The 11 second rule, Fact or Fiction”

“Would you buy a used house from this man?”

“Follow the yellow brick road to Moe”

Sorry, these have no hope whatesover.

Mike, you are probably right that your boss has better advice than most contributers, but most newbies dont have a 30% deposit to buy a 1 million hotel. You have to start somewhere. I started buying little dumps in moe and morwell and 3 quickly became 30. Now these are being traded to buy whole blocks of units and medium commercial. Which comes…[Read more]

Dont bother. You are wasting your time and energy for a small amount of money you will never get back.

Avoid that valuer like the plague!
Or should I say if you want a real low value, use them!

Its probably the best valued intro seminar for $59 for 4 hours. They talk actual deals, not the usual 95% Ozzies will end up broke, cliched crap you here from most presenters.

Wouldnt have a clue Watto. I saw there add in a mortgage originators magazine and filed it for future reference as 80% could be handy one day.

This is not correct. I have had several houses cashed out and it is purely a straight real estate transaction with a settlement date. They arrange a mortgage and pay mine out. I sign a transfer of land, cheques are exchanged. No mystery at all.

Try AAA Mortgages in sydney 02 92991144. 80% on commercial, minimum loan 500k, 7.75%. They will do 5.85% for 60% LVR.

Chris, if I was you, Id look seriously over there for positive cashflow.