With a line of credit if you have the right one can fix part of it. You must have at least $2,000 variable so you can pay money into the loan and redraw it.

The Portfolio loan from St George has regularly been voted the best LOC on the market. If you borrow more than $150,000 you are entitled to an interest rate reduction.

The Line of credit is…[Read more]

One advantage Brisbane has over Sydney and Melbourne is that is the fastest growing captial city in Australia thus strong population growth to maintain rent returns. The areas immediately surrounding brisbane are the fastest growing areas in the country (Gold Coast, Redcliffe, Sunshine Coast and redland Shire).

This has been occuring for sometime…[Read more]

I know lots of people on this forum buy without viewing and they have strong views in relation to doing this. I like to know the area I am buying so I can tell they type of area and they type of people living there etc.

I lived in a very poor working class suburb most of my life and would never have invested in it ten years ago. However, after…[Read more]

Hi everyone I am a Finance Manager in a Real Estate office in the Redland Shire (Where Redland bay is located). The rents in the area are for the most part only around 5-7% gross return and declining.

There is a strong surplus of rental properties. We are the largest real estate office in the shire and we can’t rent all the properties we…[Read more]

If you rent at 80% of the gross you receives covers the amount you wish to borrow then the bank may consider lending you the money.

However, this is unlikely so partnering with someone with a stable income could be the best option.

Make sure that you have a contract in place with who ever you partner with to avoid issues down the track and trust…[Read more]

Definetly get all you people on board like your accountant and solicitor. They will help you through the minefield of tax and government requirements.

As for the loan structure it really depends on your personal circumstances. A line of credit does not owrk for everyone. You need to be disciplined with money. If you think you will be tempted to…[Read more]

You can get comprehensive Landlords inaurance from a few insurers. It covers the buildings, some contents (carpet, curtains etc) loss of rent and tenant damage.

Suncorp, NRMA and CGU offer this insurance not sure what the rates are but give them a call and they will fill you in.

Davo70

I don’t know any brokers in ACT, but can tell you (assuming you are talking about getting finance to purchase a property)

You will need the following information.

1. At least three payslips for each of the borrowers (usually you and your partner)
2. Group certificates for this year
3. Statements on all credit cards and personal loans
4. If you…[Read more]

I have been researching commercial property for a while and there are risks associated with them that are present for residential but seem to make the risk higher.

IE: If the tenant leaves the building it can take months to find another tenant.
If you buy into an area that is in decline then you run the same risk but can also may not be able to…[Read more]

I agree with the stick to your guns mentality. We sold a property in Brisbane back in April 2000 before the boom began. The property had been listed for three weeks and it did not look good. We knew the ppty was not overpriced. The agent told us we would not sell it as the market was dead and we were asking too much.

We told him it was either our…[Read more]

CBA has zero applications fees on it’s line of credit at the moment.

Davo70

To add to Terry’s comments you can get a line of credit that allows you to split the debt so a portion is for personal use and the balance relates to the investment debt. As long as all you transactions are run through the personal portion then the tax man will have no problem.

This is how I operate mine. St George, Macquarie Bank, Suncorp all…[Read more]

David I agree that at some stage people have to take responsibility for their own actions. How many scams like this have occured over the last twenty years and yet no one seems to get any wiser why!

I am only 33yrs old and even getting on to this website and listening to Steve write I was very wary. So far I am yet to have my fears realised…[Read more]

Ms Elvis may know the area a little I suggest you read her post on SA Mentors and email her direct.

Most of the areas you mention in Qld are ok they are outer Brisbane or Logan city locations for the most part. All are experincing strong captial growth. They are predominantly working class areas with good rental demand. Tin Can Bay is near Hervey Bay and this area is rapidly growing tourist area, Whale watching etc.

Rainbow Beach is also…[Read more]

I worked in the conveyancing area of two major banks for over ten years and i can tell you things get lost all the time. (not a lot in comparison to the number of documents processed) but they did get misplaced or someone files the documents in the bank vault and forget to lodge the transfer etc.

If the bank has lost the documents they may need…[Read more]

Using Stuarts scenario including the Medicare levy you would pay $20,590 in tax for the year.

This figure would be higher if it were not for the deductions you are entitled to claim.

So you don’t pay 47% on the whole $68,000 it is broken down into parts as Stuart’s table demonstrates.

Hope this helps a little.

Thanks David U

Just one more question. Which banks do you guys deal with in relation to this NZ or Aussie banks?

Thanks
Davo70

This is a dumb question. I have been talking to the other half about possibly buying in NZ. Apart from the fear of buying so far away from where we live. We are not sure what sort of fees apply for buying in NZ.

I am aware of all the costs here in Australia like stamp duty, contract duty, conveyancing, registration fees and of course bank fees…[Read more]

Sooshie where are you located at because it is quite cold here in Brivegas today. You sure you want to move?