A good idea is dual occupancy, buy a house that can earn you rent now and get a relocatable for the back. Dont skimp on the job, steel posts with the screw top, full height for options later and then get it tenanted asap. You pay a bit more in rates but 2 incomes in one title awesome.

Problem is the site has to be big enough to get the approval…[Read more]

How about instead of a line of credit facility you have 2 accounts setup, a loan facility forsay $200k and thats for the purchase of the property and a $50k line of credit account that all bills come out of and all funds go into so if you are a little short for those quarterly rates or unexpected maintainance issues get paid immediately(happy…[Read more]

Always, I can see where you are coming from. In a house we had paid off and with 23 properties all our funds were keeping us afloat rather comfortably, when we bought our ‘dream home’ this year it has nearly crippled us.

The house we left in Sydney hasnt sold, our mortgage here is 1.2 mil we are now trying to sell 5 houses to kill 1/2 of…[Read more]

Westan and Monopoly(hi Jo) are right.

DD

Good to see the usual crowd in here helping newcomers.

Don’t sweat the small stuff,and it’s all small stuff!!

Wow well done, if I at 22 knew how to do this property stuff, I would, as most of us would have been much better off by now.
What state are you in as that determines the tax law applicable to you. Definitely agree with Simon goto a broker not a bank as they often try and steer you away from property into managed funds etc for your money.

Good to…[Read more]

OK sell sell sell this is a black hole property which only sucks $500/mth plus mgmt fee plus maintainance plus rates. So dont be under the illusion that this is a good one.

Interest rates will rise with no regard to who wins the election. Most areas are flattening out if not retracting and if he can sell it with what appears to be a 4%…[Read more]

OK lets turn this wheel a little bit. Tassie main cities of Launceston Hobart Devonport and Burnie are all going ahead quite nicely. I have a “stir the pot” option for you, forget there and look tassie.

Just a thought on why go there with no cap gains for 4 years (another poster said this) where the Australian ‘south island’ hehe is still a happy…[Read more]

20 houses 20 insurances, no questions asked no quarter given.

DD[buz2]

Don’t sweat the small stuff,and it’s all small stuff!!

Ok the way I work out return is a little different. Rent is 90/purchase of 35 which is 2.5714 to 1 ratio. Given that 1/1 is equal to 5% return($1 dollar for every thousand invested)and that 1.5 to 1 is 7.5% by the same criteria, this property is approximately 12.5% gross return. Not too bad.

So with you having an approximate mortgage of 7% and…[Read more]

ok Kay

<DD, please don’t advertise specifics. You’ve been asked before in many of your posts. You can advertise your services in your signature- kay henry>

Smile and enjoy the roses.

DD

Don’t sweat the small stuff,and it’s all small stuff!!

My sister and her husband just went thru this as well. One solicitor in 6 said yes and they wanted the loan asap so they got it done.

This was in Port Macquarie nsw. They were each buying an IP in individual names with a third putting up the deposits in joint names.

This solicitor did it for free and was very helpful. I’m glad they were sorted…[Read more]

Perfect, just what I needed too. Will be doing the NZ thing in November, thanks.

DD

Don’t sweat the small stuff,and it’s all small stuff!!

Nab after that trading scandal last year where they lost millions, tightened their lending. Homeside finance, the renamed Bank of NZ they own, had a new product last year which was an 80%lvr low doc loan. I used this to purchase two townhouses putting up a third security as deposits. Loan got approved then a month later got a letter from them…[Read more]

All bs from agents is to be treated as suspect at the best of times. If vendor owns property get a quote on a full termite barrier, not just a spray and kill on the property around all building areas. This usually includes a kill of active termites anyway.

I personally had this in my first IP in Qld in Dec 2001. One tree was infected all…[Read more]

<I have edited the sales pitch DD – Derek>

As prices have jumped and rents take forever to catch up, an IP bought last may for $100k returning $180/wk is nice but the same thing for $195k today returniing $180/wk is a dog. So people are trying to find townhouses and units which are lower in entry level $$ in the same areas and where small renos…[Read more]

Damn Terry you gazumped what i was going to write. Pay off 100k on PPOR then get loan for 100k for investing as deposits. Reason for this you get no tax advantage with debt on PPOR but if then used for investment deposits after clearing debt, interest is claimable as investment tax deduction.

All good all happy and tax man cannot argue on that…[Read more]

Arghhhhh, I did a monster reply to you and went to post it nd my internet had dropped DOH!!!!

OK go for it but be open to units/townhouses too as it is a stagnant house market but townhouses are still moving in SEQ at the moment.

3 years ago t/houses were 40k and houses were 80k, people were saving based on these figures. The market moved. Now…[Read more]

We, my wife and I, usually wait for a while to see some of our properties we have bought off the net. Always get building and pest reports and then you are less likely to just base the purchase on the emotional, “ooh isnt this colour nice”, dreadful type of purchasing I have seen.

One we have in Tassie we still havent seen, had a tenant in place…[Read more]

Everyone has different opinions due to their person experience or fell for an area. You haver only one opinion that really matters, yours. So if you read all of the above, then do a heap of internet research and phonecalls to agents then check council websites as well for whats been approved or coming up in the area(s) then you will make an…[Read more]

Have you looked south at all?? The kwinana area is working class suburbs with good cheap buying and still reasonable returns.

Orelia parmelia Calista and Medina are the 4 suburbs that make up Kwinana and for 250k you get a 4 bedder and a 2 bedder unit. work out the rents and returns and the railway is extending to Thomas Street as we speak. I…[Read more]