If your accountant will prepare your Balance Sheet, he or she will classify the land of your PPOR including its building as an asset. On the Credit side of the Balance Sheet, it will record the liability of your asset (how much you own) under the Bank name (e.g. Creditor). If you have equity (Asset – Liability), it goes into the Equity account of…[Read more]

GameTime wrote:
Firstly he goes onto state that your home is not an asset, because it takes money out of your pocket. The thing is although it’s not an investment property, here in Australia housing prices continue to rise, so the large growth factor I feel is an asset. Secondly he seems to be very biased towards investing for positive cash f…[Read more]

Hey Krisco84What is the rush? There is always plenty of fish in the sea mate. It is better to be financial ready rather than leaving on baked beans mate. Not to mentioned, you are applying for high LVR which banks don't like…80% of LVR is good. Above 90% banks start to get worry. Some banks would lend LVR of 95%…if the market is booming banks…[Read more]

Qlds007 wrote:
I am sure DHCP 's Mortgage Choice Broker suits his requirements but remember they are a franchise and the level of competance will depend on the experience of the franchisee.

    It is a lot to do with the capacity of the applicant to service the loan…Banks won't lent you their money on the basis of your mortgage broker's comp…[Read more]

Hey W8up,Call 3 different real estate entities in your local areas and ask for property managers (PM). When you speak PM ask them about how many properties that they are currently in their portfolio. A good property manager (PM) should manage not less than 150 properties…anything above 200 is too much hence making PM stretch too thin hence the…[Read more]

Savvy investors buy block of units, then get a council approval to sell each unit individually then retain few units therefore making the owner richer.if the building is quite new, I still get a qualified building/pest inspector to assess the structure of the building…you cannot be too careful these days not even for a brand new unit. Make sure…[Read more]

Get another broker if your current broker is not willing to assist you further. I have the same problem with my previous broker since he we was pretty new to property investing….I when to mortgage choice and they sort me out without a fuss. Be prepared to chance your  broker if you are not happy just like if you are unhappy with your accountant etc.

Can you send me one as well to my email below lpalad007@gmail.com. Thanks in advance

karlm63 wrote:
Hey all,So what about the 20 questions that Margaret Lomas uses which is in her book of 20 must ask questions for every property investor !!!!!!Sorry if I sound blond ??????

Those 20 questions that Lomas came up with, were simply research questions regarding the target area. To put is simply, ask those questions before you…[Read more]

See my responses below:1. Considering this to be my fist-time venture in IP, what budget should I limit myself to (Supposing the banks are approving a loan of 300k).[DHCP] Is more important on how much you can afford to service the loan rather than what the bank will be willing to lend you maximum amount. Stick to what you can afford. 2. What…[Read more]

Hey ZADS,As said, investing in yourself is the greatest investment you make because you will learn how the rules of the game of property investment work that is how multi millionaires played the game. No need to learn from trial and error, not to mention losing big $$$ in the process……. when someone already shown the way by reading a lot of…[Read more]

Hey ZADS,You are one brave DUDE!I couldn't agree more with DEN. You are like a baby, haven't learned how to crawl even walk yet, you already wanted to RUN. It is sure fire formula for disaster.Investment is not risky rather the INVESTOR is risky particularly knowing little about investing in real estate property. The best way to loose your money…[Read more]

Hey karlm63 ,Due Diligence is just a fancy name for "Research" (e.g. doing your homework to avoid you purchasing a lemon).Hope that helps.

I couldn't agree more with Bluegrass. There are a lot of townhouses fore sales in the market some are maintain well with their body corporate others their body corporate are no good. For instance, when your letter of offer is accepted, I assume you have one, part of your "subject to clause" is looking at the 'body corporate sinking fund', minutes…[Read more]

Hello Alex,Once a mind is exposed to new things, it will never go back to its previous state. The more you ready motivational books the more you want to learn and explore more.  Continue on your path to wealth creation because after all the greatest investment you make, in my opinion, is investing in your self.Motivation is a personal choose…[Read more]

Because it is negatively geared IP, you minimise your tax payment, and if you bought well in well located area with good CG, its increased in equity help to fund another IP etc… as you see, such benefits available through property investment. This is the game of rich people and glad we have the opportunity to participate.

cappy88 wrote:
> Should I have the bank revaluate IP1 to draw on any available equity (purchased 9 months ago)?!

If it is not too late, you could do some research around the area similar to the type of property of your IP1 particular previously sold properties that are superior (e.g. good quality) but similar features (e.g. 3 bed rooms). Then,…[Read more]

Bring the issue with the Vendor..then try to negotiate with the price agreed to cover to replace the toilet if that is the only concerns you have.  Building report only check the structure of the house (e.g., roof leakage etc).Hope this helps.Cheers Leo

Kaylah wrote:
Do want to make money out of real estate? You also need to consider if one of you lose your job, can you still afford a negitively geared property? Just a thought.

That is WHY a knowledgeable investor should have an exit strategy  (i.e. Insurance against loss of income). If such event occurs, it will cover you while you are…[Read more]

Hello WickiOne way to overcome information overload is make sure the information you received came from people you are investing in real estate or from real estate investment books written by savvy investors who gone before us.There are couple of books I can recommend that you will benefit and these are  a) How to Grow Multi Million Dollar…[Read more]