Also talk of taking away assett protection in trusts,well, I think the government has to be careful befor they fiddle too much, the system is well entrenched and changing one thing, can have huge ramifications elsewhere.
Rise in interest rates will probably do more than anything else to slow investing and neg gearing.

Hi again, just edited the last post.
Crashy, my only other concern re free advise, I wonder if you might have some liability issues?
You never know these days.
Usually, all professionals have public liability insurance if employed in their profession.

Ed Burton, vital link is his company, he is just great!Ph no 1800 468 111.
Very much along the lines of Steve, but no harm in going through and hearing it again, explained slightly differently.He loves passing on his extensive knowledge.
I have been to a few seminars, and I thought his seminar was great value, by the way, I don’t get kickbacks.
I am speaking from my experience of having been to a number and sometimes very dodgy and useless not to speak costly seminars.
Dual occ blocks: front house, enough side access to backyard, large enough backyard, if in doubt, check with the local draftsman.
Front house in reasonable ciondition, maybe needing cosmetic reno.
Get plans and permit for rear home, go throuigh council, get approval, get subdivision (surveyer) and sell backyard, build yourself, sell the front or keep both.
Its totally flexible.
At present, we plan to sell a couple of backyards, and free up cash, so we can pay straight cash deposit for the next house.
They are cash neg. but I believe should be able to offset against cap.gain in the trust fund.
Need to be careful to not overpay for the property, or you may not come out too much on top.
Its cap gain you are after with this strategy.
have thought of building ourselves but probably too much hassle and outlay, you don’t necessarily get too much more out of the property.

It surprises me how a number of people have written in loaded with non income producing debts, personal loans etc. wanting to jump into property and no deposit down and thus even more debt.
Unfortunately guys, there is no magic, but commitment to earn a salary, reduce personal debt ASAP, cut spending to bare minimum.
It basically takes a lot of seldiscipline, its the same as wanting to loose weight or get fit, you need to work at it and not expect instant gratification.
You may have to wait a few months, even a year or two, live modestly and save!
Even now, 8 properties later, we still live modestly, I hardly use my mobile etc.
Our only majorpersonal expense, he’s sending us broke!, is our teenage son and private school fees, but we don’t mind.
The vast majority of our income goes back to debt reduction or further investments, but we made a lot of mistakes along the way initially.
I think we are well on the way now, but there is no instant riches or gratification, only a slow hard work pathway.
I used to think it would happen straight away, but you need to learn to be patient.
I strongly suggest you attend Ed Burtons seminar in November in Melb,excellent value for a weekend, its all about assett protection, cash pos properties etc.
Read as many books as you can and educate yourself in the meantime.
Unfortunately we didn’t start out with the knowledge we have now and made some financially disastrous mistakes, we are now catching up nicely. You are very fortunate to educate yourself early on and have the right mindset at your age, so you are on the way.

Being flogged by Cameron Bird in Cairns?
According to Ed burton: bad location, no proven resale value, you can only ever sell to other investors- ie small resale market, on site manager- don’t know how good they are.Unclear what the real value of the property is.
But, of some social merit.
Personally, having lost hugely, I avoid anything “managed” in QLD, its completely out of your control.

I work part-time since this year, sessional Rehab consultant, you go in do your bit, give some instructions and finish at lunchtime.
I’ve gone from working 6 different jobs at the beginning of this year to only two now.
Actually I had 3 jobs and got retrenched a few weeks ago from my last job, anyway I’ve got over it now.
My other job is writing silly emails, managaging our investments and trying to work out other invest. strategies and trying to keep up to date with book=keeping duties.
My life is now exactly as I envisaged and planned it for the last 3 years.
Its great to have such a diverse number of people with like minded interests.

Our strategy consists of buying large blocks with houses in the eastern suburbs of Melb, ie dual occs.
We have five on the go in various stages,
It takes a long time but the land (ie back yard)is a huge buffer to flattening of growth.
Shares: I am looking at buying some growth shares in my super fund.
Iam also exploring the possibility of buying a share portfolio which is fully hedged (protected)and writing covered calls or similar using low exercise price options for income.
I am doing a seminar on shares by Allan hull in 2 weeks, he is very good.
Having not done well with shares, I am trying to avoid more mistakes.
Eventually I would prefer a good share portfolio to property but keep some of the income producing property.
Ed Burton talks about investing in overseas funds via Vanuatu, but I am not so sure, you are not as much in control.

Based on valuation, you should be able to borrow 200,000 (ie 80%of value)on your home, pay out all your bad debts.
But I agree, try and establish a bit of a savings record.
Your wage is not that high, so you need to be careful with cashlow.
Another loan means, more expense and repayment, there may be rental vacancy, increase interest rates etc.
Maybe give yourself a few months of reduced spending and if you can get by, try then.
Everyone is jumping on the bandwagon and maybe you feel you are missing out, but you have to be able to sleep well at night and there will always be opportunities.

Can you get a valuation on your home and turn it into a line of credit?
Would save a lost of hassle in selling and moving, your income is contributing to loan repayments(not rentals), you save on selling/buying fees and I am sure you are living comfortably.
I’ve thought of doing it but too much hassle, with parents and son and husband and business involved.
Our home has had so much work done on it, including set up for home business etc.
We use it as a line of credit, so it has not been a “liability” but an assett.

Bruce, good luck, we need something like TV’s american show Judge Judy, she’s terrific and can really sort ’em out.
I hope we are not going to see a current affair: “landlord evicts his own mother in law”.
Basically my parents are going to be dependent on me at some stage to buy them a new home, or most of it, when we sell our current abode, which we jointly share.
Unfortunately they have only ever financially had failures, which is why I am trying my hardest to do it differently, and gradually succeeding.
Anyway, I feel its my duty to support them, as they have supported us.