OK Minimogul is right get the numbers and get someone else to do the looking at the property. When you are new you have to touch it, once you have done it a few times you have to see an image only, finally when you are comfortable its only a houses numbers that matter.

Wife and I bought a house in Jan in tassie, still havent seen it or need to.…[Read more]

no land tax threshhold at all in Tassie too so be careful about each area you invest in.

Use equity, buy the bloody thing in your own name. Rent it to your son on the proviso that if he saves deposit, when he gets there you will sell him the Canberra house for what you bought it for plus only 50% of the cap gains between now and then. This will…[Read more]

Good ad vice Derek, also I have a policy of never throw away a valuers number, you might find that your next lender uses the same guys and a little market research with agents in the area faxed thru to them will aid your case for a good val.

I have 9 IP’s in Ipswich area(has 11 but just sold second to fund own home purchase) and have 6 differt…[Read more]

god guys did you actually read the question. I have to wonder about your ethics if you recommend to someone about to loose 1/2 the family income to a new bub(we had that 4 years ago) and you recommend more than an 80% lend.

Madness, sheer madness.

I wish that you guys were in their particular shoes for just 12 months without your high income and…[Read more]

what city are you in. Please PM me as then your personal details are confidential too.

DD

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

Wow, what a great start to own a house outright.Ok well I would get a loan on this house at 80% LVR(loan to value ratio)Banks are usually happy to do this as interest only(IO) if you get the right deal. So you have say $240k out of a house worth $300k you can use.

The reason you do this interest only is to minimise what you pay into this loan,…[Read more]

As subdivision costs are usually quite high depending on location, be careful to know your councils actual costs before working out your profit.

You might be happy or dismayed. Hope its the first.

DD

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

those who fail to plan plan to fail!!

wife and I change our property plan weekly. Now taking two off the market if 3rd sells. Upping vals on other property to release greatest cash.

Paying down PPOR in big chunks is gooooood!!!

Too much debt = sad investors.

Cashflow rules. So rent yourself and invest might be a solution for some. $50k is 2…[Read more]

If your partner is a partner for more than 12 months its deemed to be a defacto(god i hate that term)relationship. This could mean that your tax could be viewed the same as a married couple. Check it out. Couples get tax breaks.

Use every cent you earn, declare the lot to the tax department and get property investing as soon and as much as you…[Read more]

Canberra, cold, planned, antiseptic. Great to invest if wanting negative cashflow. HMMMMM Canberra!!

DD

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

good point, we had a deal that on getting pest report, tree outside had termites and needed dosing asap. Full barrier was never done and it was 14 years old and ready to be a target if nothing done. Cost was at vendors expense $1320 straight off the already agreed purchse price.

So, with your not approved building you can
1)go ahead as is. This…[Read more]

1)Do the sub divide
2)sell the backyard
3) pay off PPOR
4)with $210k left(my calc) you have the perfect opportunity to a) do duplex on dads land(get a contract with dad first), b) reduce IP’s debt substancially whch you do get a tax advantage from(none on your PPOR), c)think outside the square for a minute.

If c) then $210 gets you 10 positively…[Read more]

Happy thoughts to those posts that didnt live to see the day. I just looked at this for the first time and it looks like a warzone. Good move Richmond in placing a balm on someones touchy points.

Lets all face it, being passionate about property is wonderful, the fact we all think differently is bliss. If we were all the same then no one would…[Read more]

Cool this helps my forward thinking too Daven. I have relos in the UK and am looking to invest there. Can get an expat tax break there as well so always happy to see what others have knowlege on first. An informed decision is better than trying to stab in the dark.

Russelld, could you let us know how you go in the UK re property…[Read more]

Partnerships of any kind have a danger aspect. One of you could get married, loose a job, have a boating accident with a propellor, anything could happen. Thes wildcards could adversely affect the joint venture/partnership in many ways. Great idea to save oncosts but if you are doing anything like this, emotion plays a part for most first…[Read more]

Hi guys DD with a last post(pun) before Fiji tomorrow.
We are looking to do an 80% now 20% 12 months on our Sydney home. Its 5 bedroom 2 bathroom, dual driveways, covered entertainment area, good family area near schools and shops in a newer suburb in western sydney near the new Sydney orbital(about 2 ks) on and off ramps.

Reason for this is that…[Read more]

Boardy, I have 2 orperties south of Perth in the Kwinana area. I dont buy unless i know the area well and what infrastructure is happening now or due to shortly. Other areas I wouldnt even attempt to help anyone with as I wouldnt market an area Im personally unfamiliar with.

So far a $91k 4 bed house bought july 2002 is worth $150k, and a 3 bed…[Read more]

Thanks buddies. All appreciated. Foston, no thanks mate. Wife and I share bags. You are the 7th person to offer though and thats only this week. HEHE.
Thanks Minimogul, we are a bit stressed with our big relocation next month but if we hadnt booked this in December we certainly wouldnt be going anywhere now.

Ho hum, it’s all to hard. Or should I…[Read more]

4 townhouses in kingston no baths all rented easily. 22yo student, young couple, 62yo lady and a 53yo teacher. All cool, and good tenants. Sister buying the 5th in block of 8. Who says im not a megalomaniac.!! With my improvements on the property the rents have jumped $40-50/wk rent in a few months.

Happy, yep. So go buy your house and be glad…[Read more]

Hmm doing it for family you end up doing more than just sourcing. I know just got one for sister and one for brother in law last week. It is hard work. I suggest you get one of us that do sourcing to help your family so you can stay out of the politics of family vs profit hunting for yourself.

Try $1000 without searches, you do that, and its…[Read more]