Originally posted by jesse010:
I’m 22, my husband and I just got married and bought our 1st home in the last year. We are living in it and it has been recently valued at $320,000 and our loan is $283,000.

For me these are the crucial details in this whole passage.

You are only young and have a hefty sized debt (88% LVR) on your hands as it c…[Read more]

Hi Pagan,

Recommend you do a search of the forum. The search facility is located under the ‘forums’ buttin at the top left of the screen.

I will aslo move this post to heads up.

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958

Call me a sceptic if you like but you but it sounds as if you have have access to a ‘group of experts within the firm’ and yet you want our opinion too. Mewonders what the experts in the company are doing.

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958

HI Sweet,

In the main you can forget about finding such properties on the web.

If you are serious about investing you need to identify your preferred/suitable areas that meet the two financial constraints. A possible starting point is to identify areas with median prices around the $100K mark, cross referencing this informatioon with more…[Read more]

Hi all,

Further to this subject here is an article in today’s Age that may be of interest.

http://www.theage.com.au/news/business/resolve-to-plan-to-get-rich/2006/01/15/1137259944606.html

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958

Originally posted by danandang:
Definately have the investment properties in a different loans to your principle place of residence. The deposit amounts will be added to the loan against your existing ownerships. I guess you can account for this and that section of your loan can be dedicated through your…[Read more]

Hi Phil,

It sounds as if your lenders have cross collateralised all of your security to the eyeballs.

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958

Can’t vouch for accuracy of figures but you asked

http://www.realestate.com.au/cgi-bin/rsearch?a=loan&t=res

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958

Hi Aukssie,

While the numbers may appeal you also need to consider financing such a property. Lenders tend to consider them as riskier investments and generally only lend around 70% (give or take a little in a changing market place) so you will need to consider this too.

Capital growth is problematic as you canonly resell to investors thereby…[Read more]

Hi Hobe,

There is also the Brisbane Investors Group (BIG) which holds regular meetings. A nominal fee (and I do mean nominal) covers room hire etc.

I suggest you PM sunstone to see when the next meeting is scheduled. You can also do a search using the forum search facility and use either sunstone to see what topics have been previously…[Read more]

$600K also seems a big first step, especially for someone who appears (from your post) to be a first timer with limited funds.

I recomment starting with something less complex and work from there.

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958

This one?

Home

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958

Provided the no advertsing line is crossed.

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958

Originally posted by vpas:
Have this property in WA (I’m in victoria) since April last year. Its in a small mining town. The agent is terrible doesn’t communicate and there’s no other agency there to go to. We have had one tenant who skipped out on a 6 month lease. Its been empty over 4 months (not long I know) .

Hi Vanessa,

I am certainly not…[Read more]

Hi Vanessa,

Originally posted by vpas:
Have this property in WA (I’m in victoria) since April last year. Its in a small mining town. The agent is terrible doesn’t communicate and there’s no other agency there to go to.

This is one of the problems with small town investments – one agent and a limited potential tenant base. That is why I prefer…[Read more]

Originally posted by Blue Ship:
However I do own my home outright and I am thinking of downsizing the home. Drastic step I know given that I can borrow against the equity – but I am in an expensive home and I may be able to find one that is quite good enough and really free up some actual real money.

Hi Sandy,

Good luck on the pursuit of your…[Read more]

Hi Austin,

While I know that some people swear by self conveyancing I come from the other line of thought.

A professional lives and breathes conveyancing and as such mistakes are less likely to lead to problems later on down the line. Even though there are no guarantees with a professional you could seek some recommendations from forum…[Read more]

Hi V,

While the temptation is there to go out and get a property on the double it sounds as if there are some issues that you need to put in order first. Getting a few of the taxation, superannuation in order first may be in order.

I recommend that you see an accountant to get your tax affairs in order (I assume late returns?). An accountant is…[Read more]

HI Robi,

A few things you can do – ‘encourage’ partner to seek additional employment. According to the stats it seems jobs are a plenty in the outside world so this could be the ideal opportunity to explore new fields.

I would also arrange an immediate appointment with your broker/banker to see what your options are in terms of meeting your…[Read more]

HI Regina,

You will need to find the original document to see who, what, when, where etc were agreed upon. The original agreement should also establish what obligations you have (if any) should you purchase the property.

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958