krc306 wrote:

JacM wrote:

joeandchels wrote:
There is no secret that property prices are at a all time high, in my opinion we will probably see a crash in prices in the following years as did other countries have following a "bubble".

Doom! Gloom! Doom! Gloom!Seriously, not sure why this concept keeps coming up.  Property is a supply and…[Read more]

I say shop around and get a new loan. Talk to a good broker and an accountant. I had a CBA redraw type loan with wealth package originally on my PPOR and had made a tonne of extra repayments. This was a crud setup for investing due to the tax implications. I changed it to a St. George Portfolio loan, released the equity and went on investing from…[Read more]

chappy1970 wrote:
EV,What a concise and methodical approach you and your partner applied. I'm trying to cram years 10-4 (year learning span) into a smaller time frame, my wife and I have had our kids (no more for us ).We have considerable equity and now have the finance ready for the IP, I have received considerable advise on the correct way…[Read more]

Marie, I wouldn't sell either of your current properties if you can avoid it. My advice here would be to find a fantastic broker like Shape to work up some options for you on leveraging into your next investment. Definately go with the accountant to help run the cost/risk/benefit analysis.I agree with you on the US. If I didn't have the funds…[Read more]

MrDarcy wrote:
Well put empty vessel..Can I ask why you chose to invest in the unseen IP2 and units as IP3 (was the risk worth taking?)Was this the plan when you set out initially?What is the future plan with IP 5? You mention commercial or US are you diversifying with each IP?Just trying to understand your strategy..

Why site-unseen? Time, i…[Read more]

Our path over the past 10 years.10 years ago: Overeducated (scientist and engineer) Paranoid about debt. Scared of money. "What the hell is leverage?"9 years ago: Started earning good money. Brilliant "saver". Worked out a budget with my fantastic partner. Took us years to get on the same "investment page".8 years ago: Started investing in shares…[Read more]

scullywaggs wrote:
Thanks for your comments .  I am going to make an appointment with the rental manager and talk about how they are not meeting my expectations.  We had to sign a 2 year Management contract with the agency and looking through it last night I am unsure how I could get out it if I wanted to.  The funny thing is the tenant he…[Read more]

Hey there, does anyone else have any wisdom to impart on commercial property? I am currently considering an industrial unit in a solid location with 9-10% returns  and am looking for all the information I can get on doing due diligence.Foreverstudent, did you pickup any other useful tidbits? EV

None of it scares me. Frankly, I cannot see the doom and gloom many people and the media are talking about.Considering the huge catastrophe that the GFC was/is, we are doing remarkably well. Just be glad you weren't born in sub-sahara africa.My repayments are down, my (real) wages are up, my shares are up and I own 4 more properties than I did 2…[Read more]

Hi Rachael, I would advise them to do some more reading and speaking to a few more "experts" before deciding on a path for the next 7-10 years/ Especially where the family home is involved.  As a starting point:  Buy them a couple of Margaret Lomas books.  Checkout Terry Ryder's "How to get started in property investing" report/paperI have fou…[Read more]

Right, I will give them a call. Thanks for the heads-up.

Sometimes the very act of "flexing the legal muscle" will scare them into action.They might be trying to take advantage of you as an uninformed buyer. Thus pressuring you into agreeing to buy."Lawyer-up"

Agree with your summation. Get some decent legal advice from a good solicitor ASAP.By law, the building inspector cannot give your report to anyone else. It is your report. It should say this somewhere in your building inspection report. I had an inspector confirm this with me during my last purchase. The selling agent confirmed this and said it…[Read more]

SmartGenY wrote:
I signed up specifically just to comment on this after perusing these forums off and on over the past years.I don't think a lot of you bulls understand the current mindset of the Professional Gen Y, I'm 23 recent graduate engineer and between me and my partner we net about 80k pa and that could easily double over the next 5…[Read more]

Oh, and if you are reading this and considering a Community Title scheme, it might help to read this; http://www.strataman.com.au/community.htmlInteresting.

I found a useful website on this stuff here; http://www.strataman.com.au/strata.htmlEssentially a Body Corporate = Owners Corporation, OC.The OC IS mandatory in the sense that one is setup upon registration of the Strata Plan with the NSW LPMA (or whatever their new name will be).Apparently by-laws are NOT mandatory and this is where is gets…[Read more]

Thanks Shape. A couple of clarification questions, if I may;a) Who did you pay the professional fee to? Surveyor and Solicitor. Anyone else? e.g. Did you pay someone to setup a body corporate?b) Do you even have a body corporate setup for those units?In relation to the expenses you mention, in this case;1-3 don't apply, these are already in…[Read more]

Perhaps you could get a more invasive termite inspection done?I have no idea how much this would cost or how certain the outcome. Have a chat with the inspector?

Folks, does anyone know if it is mandatory for me to set up a Body Corporate and Strata Plan with by-laws? Even when I own all three units on the block? I spoke to a strata management company that advised me this was necessary and also required careful thought. Right down to the rules I want to set for "No solar hot water systems can be i…[Read more]

Thanks Michael,  great info and exactly what the valuers told me. As such that's close to the conclusion I have come to. I am going to talk to a bunch of REA in town and get market appraisals. Cross reference this with another data source like RPData. Then take off 10-20% to give myself a conservative risk estimate. If this estimate comes in too l…[Read more]