Firstinvestment24 wrote:
Derek – The property will be finished in 2014 but I am not considering it anymore. For a start I cannot obtain a large enough loan for it and from the research Ive done and the comments on this forum it doesnt seem like a smart move.

HI FI,Good decision to back out of this one. Major concern is the OTP nature of the…[Read more]

Hi Gav,Our local council has just commenced this very same process. All landowners in the areas under consideration received a glossy overview of the proposal with invitations to view the full proposal at council offices. The process allows residents to raise any concerns and comments – in our case this was about a 3 month window. 

Any flow-on effect will be into Karratha.Roebourne has limited appeal and pretty much all people will be wanting to live in Karratha where services etc are based and the government has distinct leaning towards. Utilities to Roebourne would be stretched to the max and infrastructure overheads extremely expensive. Can't see anything positive for…[Read more]

Hi,A quick question before I give more detailed comments – when is the property finished and ready for settlement?

Andrew_A wrote:
Should point out that there is also a namesake of mine who is an Astronaut, so there are good and bad ones around

Never trust an astronaut

HI Jamie – Aww shucks.Prospector – an addendum to my previous post.A broker will be able to crunch your numbers using a fancy piece of software that they all have which also works out which bank is best for you. Just make sure you don't get to pre-approval stage yet.So much to learn.Key point is start slowly – you don't have to own an IP by…[Read more]

prospector wrote:
Ok Qlds007, thanks for the advice. Could you explain what you mean about the lender doing a credit search and frying my credit scoreCheers

Not Richard but what Richard is talking about is often people go into a bank and innocently ask how much can I borrow? During conversation bank asks how about we get a pre-approval to m…[Read more]

Freckle wrote:
Strange kinda place from a PI point of view. 

Couldn't have described Mandurah better myself.

richos wrote:
I would hope we both could come to an agreement on the sale price to avoid the re-estate agents fees

Hi Richo,No need to pay REA fees. Hire a valuer to establish fair market value (cost ~$500) and  then hire a solicitor to write contract and handle sale. No real estate agent needs to be involved.

I use Shreeve and Carlsake for my personal stuff. They are based in Herdsman Business Park, Osborne Park.

Seems RBA/ABS haven't got the resources to measure monthly CPI and still rely on quarterly results. http://www.watoday.com.au/business/rba-hurt-by-lack-of-funds-20120504-1y4g0.htmlCould explain, in part, why they seemed a little slow to move this time. Certainly an annual inflation rate of only 1.6% seemed to catch a lot of learned people and…[Read more]

Hi Mattsta,Not sure where you live so some of my comments may be redundant. Regional cities in WA are considerably smaller than those in other states and in many cases, with a few exceptions, land is availability is still at a reasonable level. In some cases land availability cannot meet demand in these instance you are paying overs for the land.…[Read more]

Hi S,Just repeating vested interests still apply.All good questions and the ones investors should be asking. Estimated rents are all based on our research which is combined with rental assessments by agents independent of us and who have good local footprint in the area being looked at. Estimated completed valuation are also based on market…[Read more]

Hi Laury,I am not one for placing all loans with one lender. It is very easy for the lender to gain upper hand in the lender – borrower relationship. When looking at P & N CS make sure you find out how long their I/O periods are for. As an investor it is important you maintain flexibility and have maximum time yup your sleeve just in case your…[Read more]

Danny F wrote:
I currently do pay P&I on my loan. I will look into this further.

Changing to interest only should be a relatively straight forward process for most banks. There is no need to delay this action on your part. Effect will be pretty much immediate and you'll be able to start using the money saved converting to Interest Only to…[Read more]

No worries Danny.Now I don't know how long it has taken to rack up the $40K so what I say may seem like a slow process but good things come to all who wait.At the moment your focus should be to get rid of those personal debts while making sure you maintain and retain your investment property if at all possible. 1. Set yourself a realistic budget…[Read more]

Danny F wrote:
I could pay off my personal debts and free up cash to invest.

Hi Danny,I'll take the other approach – reading the fine print it would seems like you are going to have to confront some spending/lifestyle habits. I see little value in selling an asset to pay off personal debts unless there is no other option. Sure you can upgrade…[Read more]

wuzziemoo wrote:
You have to be careful with contracts, wording is everything

Never a truer word has been spoken.If you are writing conditions make sure there is no ambiguity whatsoever. Ambiguity leaves comments open to interpretation and then the muck can hit the fan.

Hi Fellows,Interested that you have had a good experience with Carol. Someone I know quickly jumped ship from her management – mind you that was a few years ago and things may have improved.WI Sorry – can't help you with a recommend in that area.

Was at a business breakfast this morning with Michael Pascoe. His opinion was the rate reduction was not so much about trying to kick start economy again as we are going OK (graphs to reinforce that argument) but as a pre-emptive strike against the Federal Budget due for release next week. Swan et al have harped on the need to return government…[Read more]