Terry would definitely be my first choice 👍

Hi Jad,

We wrote about LMI here if you want to have a read and see what I think.

Definitely stand alone properties. No doubt there.

Presuming you could borrow 88% (usually that’s the sweet spot as far as not paying too much LMI) on your existing properties and that’s enough for a 25% of the new property (20% deposit + 5% purchasing fees), then…[Read more]

In my book ‘no reply from the PM’ is unacceptable. I would put her on notice and if doesn’t sort it out promptly, I would replace her. By the time the tenant will finally get the gas bill notice, they might request to pay it in instalments (if it’s a big bill in arrears) which I would agree to due to the special circumstances.

Great replies from Benny.

I would just add that the reason you calculate the yield on the purchase price (or even, better yet, on the actual cost price which is the purchase price + the purchasing costs = about 5% higher) is that the deposit and associated costs are coming from another property (not true for first property you buy, but it is…[Read more]

Hi Darren,

Thanks for sharing your story.

Yeah, sounds like a very tough lesson but think how easy breezy future challenges will be! 💪👍😎

It’s interesting how you mentioned that vacant lots are not selling in that estate but once you build, you’ll be 20%+ in profit and CF+! There may be some opportunity there? (Buying more vacant lots from…[Read more]

Hi Sing,

Do you also have a PPOR? Does it have a loan against it? If so, that’s the loan that needs to have the offset 😉

No worries, happy to help 😊

Yeah, good agents can be hard to find, but surely you’ll find a few that will be happy to come, have a look and advise of their estimated sale price + terms. Or get a valuer to give their figure. Combined with comparable sales from the area, you should have a very good idea of what you could sell yours for…[Read more]

Never heard of such websites 😱 Do you have an exemple?

Suggest checking the recently sold in the area, maybe also engage a RE agent and/or valuer to give estimation. You can sell privately by using websites/agencies that through them you can list on realestate.com.au and other websites.

Hope this helps? 👍😎

Different states have different rules, suggest contacting the governing body in your state (NCAT, QCAT, VCAT etc).

Generally speaking, I would imagine the landlord has a right to make sure damage has been repaired. S/he does have to give notice (in NSW it’s 2 days but in some states it’s longer).

“Nothing is easy, but who wants nothing?” – Donald Trump (years before becoming USA president)

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Thanks. Sold to a higher offer 👍 😎

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Thanks. Sold to a higher offer :-)

Why are you looking for a partner? Building a portfolio is easier by yourself 😉

Reduced to ‘Open for offers!’. Just want it out the door 😂

Hey mate,

A few thoughts:

1. Cashflow is awesome but capital gains is where the big money is.

2. From a financial point of view, it is probably prudent to take finance on the IP (even if you don’t need it) and offset it with your funds. This way you’re not really paying the lender interest but your funds are available (to deploy at buying…[Read more]

Hi Loui,

Yes, most lenders assess servicing at 7.25%-7.5%. There are differences between the lenders as to how they assess existing (and new) loans so it’s worth checking with a few lenders (or, better yet, a broker).

Yeah, the P&I assessment for INV is annoying but it does make sense. It’s a way to ‘stress test’ the borrower: if you can…[Read more]

We found all our properties on realestate.com.au although I know others found great deals off the market by doing letter dropping (“want to sell your house?”).

Good luck! 👍😎

That strategy is honestly completely out of my area of ‘expertise’ as an investor.

Generally speaking, as I’m sure you know, the only way you’ll see a profit is if the local market where you’ll buy will rise and/or if you’ll buy under market (vendor that has to sell etc).

So, which area do you think will do better over the next x years that…[Read more]

Lots of options: Mortgage Broker, Finance Broker, Accountant, tax agent or a financial planner.

IMHO you can definitely take a mortgage on your PPOR in WA and use that to buy another property (presuming servicibility isn’t an issue), that’s straight forward enough.

The whole matter gets complex when taking into account taxation. Now, if…[Read more]

Welcome, welcome!

Alright, so here’s what I’m thinking:

1. Each property needs to have value in its own merit. If, for example, the vacancy rates are high in TAS and you won’t be able to rent it out, you’ll be out of pocket on the mortgage of it.

2. Now, I know yo mentioned buying without a mortgage but the best way forward in such a case,…[Read more]