I should also have added – check with your accountant about any CGT issues you may have with the sub-divide and sale option. At the same time check with a broker to see if the sale of one of the blocks will help your serviceability to the extent you want. Banks are wary of 'mum and dad developers' at the moment so don't be surprised if you have to…[Read more]

I went the other way.Plenty of experience with property and then got my sales ticket. While it (the ticket) has filled in a couple of blanks I can't say the 'ticket' has added to my expertise as an investor.

East Perth & Northbridge are 'unit city' and some lenders/mortgage insurers were (are ?) reluctant to do +80% loans on those postcodes. For me step 5 km out and look at the next ring of suburbs. You can do this and still retain ready access to infrastructure and features tenants, investors and home owners want. While Perth market hasn't grown…[Read more]

Start small grasshopper – if the blocks have now been sub-divided consider sellign one/both blocks off and use the proceeds as the launching pad for your future. I reckon getting something is better than getting nothing. Sure it's not as good as getting the lot but…………….it beast nothing. If banks see you as lacking serviceability I would…[Read more]

mjjg wrote:
The bank's (Westpac) lending officer has told us that they would only go to 80%

I am not a broker but if you are self-employed this may be a reason for the LVR limit stated. It may also be a postcode (greater risk for bank) issue for one or both of the properties. 

Why is when doomers and gloomers talk something down they 'should be listened too' whereas when people talk up something they have 'vested interests'?

You don's say what level you are currently geared at but I would be concerned with purchasing an investment property as this will not help your overall gearing. Part of being 'wealthy' (& wealth is relative) is your overall gearing level.

An overseas version of two tiered marketing methinks.Some of the more popular tourist destinations have locals specifcially employed to collect names, accomodation details etc of o/seas holiday makers using tricky means. Then the pressure starts with phone calls to encourage people along to seminars. 

Hi Judd,Seems to me as if you are in a 'hurry' and you are going to have a high LVR across your whole portfolio.I would not be adverse to you sitting and waiting for a while and getting some mroe financial wherewithall behind you rather than constantly pushing the envelope as you currently seem to be.PI is not a race.

jodes92 wrote:
Does anyone have any thoughts on using a "cheap" conveyancer? When I say cheap I mean the companies that do nothing but conveyancing and offer things like, "best rates" "match any quote" etc. Examples include oz property law and go go conveyancing. I'm tempted to use one of these to purchase a cheap IP apartment as they are…[Read more]

ummester wrote:
True, there have been other hard times. But there have also been much easier times. 80's, early 90's.

Early 90's = unemployment rate +10% and home repossessions @ the highest rate in last 30 years. Early 90s was also the recession we had to have (apparently)Late 80's Interest rates 17% + articles in daily papers stating 'our…[Read more]

Blitzad wrote:
Just a quick note, i believe he said that he has 25k in savings,

Ooops (foot in mouth) that's what you get after spending a few hours hunched over some driveway acrylic sealer. Nonetheless $25K wont get a lot of money in additional purchasing power (just over $200K + deposit – subject to income checks and other banks…[Read more]

Try Geoff Carslake of Shreeve and Carslake in Herdsman Business Park. T: 9244 2900

Vanessa1985 wrote:
Over the past 5 years the suburb where we are looking at investing has had poor returns of 1.5% growth and this makes us feel uneasy in developing in this area. However, the area has had a 3 year growth of 7.9%, 12 month growth of 4.9%, a quarterly growth of 4% and an average annual growth of 7.3%. What else should we be…[Read more]

JohnnyB wrote:
I currently am 1 of 4 units under strata.is it possible to change & how would you go about it?

I am assuming you are wanting to change strata managers.I a nutshell you will need to get endorsement from the majority of the body of owners. You should also check to see if you have a fixed term management contract with your current…[Read more]

FinSpec wrote:
All applicants and/or their spouse/de facto have not owned a residential property, jointly, separately or with some other person, in any State or Territory of Australia before 1 July 2000. All applicants and/or their spouse/de facto have not owned on or after 1 July 2000 a residential property and occupied that property jointly,…[Read more]

You don't say how long you have been employed so I may be out of line – but you wanted honest!After tax you have nett income of ~$67K. Many bank will want to know where this is/has going/gone as you haven't any savings or equity to launch from. While there are some banks who do such things as 'family pledges' etc for security purposes your first…[Read more]

Only you will know which strategy suits you and your situation. As you rightly point out there are so many ways to purchase property the challenge is to work out which strategy suits you.This forum is very much a cashflow forum if you were to wander around the net even more you will probably find people who wouldn't consider cashflow as being a…[Read more]

We started around the age of 25 and held our first property for about 13 years – living in it for only 2 of those years. Don't regret it for one minute as we were able sell the property and use the proceeds to build our dream home. My only regret is that I/we didn't leverage off the equity we had in this first property. If we had done this then…[Read more]

There was a 'loop hole' which allowed individuals to purchase an investment property, not live in it and at some stage in the future buy their own home and still be eligible for the FHOG. Best to check with the relevant websites – FHOG & OSR (or similar) in your own state. Matters like these should always be checked against the relevant…[Read more]