Huh, where did you get that figure from, Monopoly?

Try doubling that and adding 3, then a wife & 3 kids.

Perhaps you have me confused with someone else?

toni89,

This is from Derivex’s website:

Consumer Home Loans are not currently available in Australia.

Derivex/IFHL will not receive or process any new
applications for consumer
Interest Free Home Loansâ„¢
until an independent
expert assessment of the
new consumer home loan
product has been completed
for regulatory and public review

This “re…[Read more]

Well done Ronulas, great to hear from someone just starting out who’s doing well with it.

I have just had an offer accepted on my 1st IP. Now getting paperwork organised and looking for finance.

I’m a bit worried about property prices and interest rates over the next few years but this is long term so in ten years time hopefully I’ll be glad I…[Read more]

Good post, grreg, I think you’re right on the money. To your list I would add the rise of 2 income families as it becomes more and more mainstream for both parents to work (and therefore nearly double each family’s debt serviceability, thereby allowing them to borrow more for property investment).

eeshole

Hi Zippys,

I too am looking for a small commercial loan on a property worth 220k. I have spoken to a few brokers, and the lenders that always get mentioned are ING and IMB. Some brokers tell me that ING won’t finance anything below 300k, others say that if I refinance my home loan with them they will do the commercial loan with it. They are…[Read more]

Dazzling & Pickworth,

Can you point me in the right direction re obtaining finance for a CIP:

1. At 80% LVR
2. At reasonable rates?

I have put in an offer for a commercial property and am looking around to get it financed. All the lenders I have spoken to will only lend to 65% or at most 70% LVR, and rates range from 7.3 – 8.0+%.

I would love…[Read more]

Chipper, I think you’ve missed my point totally. Don’t call my opinion rubbish. It’s not. I am not an idiot. I have worked hard all my life and I am educated and I listen to other people and learn what I can from them. So watch your language.

Try and get the drift of what I am trying to say FIRST.

Let me explain my “rubbish” to you. All I was…[Read more]

My tax accountant says the valuation should be sufficient, if it was done by a licenced valuer. I am not a tax adviser though. You should obtain your own tax advice before acting on anything you read on this forum.

Ripstar,

1. I thought you said it was valued at $82,500? Where did that figure come from? Yes, it would be a good idea to get an independent valuation.

2. Unless you exchnage contracts, it’s still on the market and may be bought by someone else. Suggest you exchange quickly but put conditions on it so you can pull out if valuation &…[Read more]

You can make money on shares. You can lose money on shares. You can make money on property. You can lose money on property.

No point comparing statistics from the broader market between asset classes. When you invest in shares you invest in one or a few. You don’t invest in the whole market (unless you invest in an index fund, even then that’s…[Read more]

How about post some of the property details here? I am from NSW and on the lookout for IP’s. If the deal’s right, I’ll bite.

Regards,

eeshole

Care to elaborate on the flaws? I happen to think his stuff is pretty good. I’m open to other opinions though. Would like to know specifically which of his stuff you don’t agree with.

Thanks,

eeshold

I told my wife I wanted to speak to her about our finances. Managed to sit her down for 20mins or so. All the time she had her arms folded with a frown on her face and shaking her head. Went through Buy & Hold, Reno, Development, Mezzanine Financing, Bird Dogs. Every time I started to explain, she would snap “hurry up! I’m busy! So many things to…[Read more]

Yeah, me too. I would like to know the same thing.

Where can you get 10.4% gross with no capex and low risk of capital loss?

Right. Good on yer for thinking about your future career. The best thing to do is talk to CA’s and CPA’s and ask them what their career path was, how they benefit from membership, what pain they went through to qualify for either qualification.

Certainly if your ambition is to rise through the ranks of a large accounting firm to partnership (say…[Read more]

I have done subjects from both streams and I can tell you without a doubt that the CA program is much more rigorous and demanding than the CPA program. In my day the CPA program gave you a large folder with all the notes you need. All you needed to do was read over it, understand it a bit, then do the completely multiple choice exam. I did only…[Read more]

I think it’s pretty standard. Basically they just look around the place and poke a few things. They don’t really do anything intrusive (eg. they don’t take off the gyprock and look at what’s behind it) therefore there are a billion possible things that could be wrong that they wouldn’t know about. Therefore they have to slap on the no…[Read more]

I agree with Yack. You’ve got to see what people are saying and make your own assessment.

Some of the stuff on Jenman’s website is pretty interesting. He provides quite an insight to the dodgy dealings of many real estate dirtbags. He’s about the only high profile guy around who’s actually trying to clean up the industry. sure he’s out for a…[Read more]

Hi Maggie,

I’d say you’re doing pretty well if you’ve saved 100k. As for whether the market is going to go up or down, well, that’s the $60,000 question we would all like an answer to. I have read a few articles which suggest that house prices have so far outstripped inflation, wages growth and rental returns such that it is inevitable that the…[Read more]

Read an article from the Economist magazine, by Pam Woodall, Economics Editor. She likens the current property investment market to the dotcom boom, ie. falling yields, then going back to potential capital gains to justify high prices, then a bursting of the bubble. She suggests 20-30% falls in the next year or so.

I always saw the Economist as a…[Read more]