good point LA aussie,, I have one aquaintence my age in a better position…….the rest of my friends are first home owners or renters ……..its true enough…… you have to have drive and passion in anything to get ahead…thanks for the reminder…though it does feel like we are all a bunch of monkeys sometimes……….and we are growing…[Read more]

milt,the other point i should mention to ease your mind further regardinf those examples i used beside the interest rate rise effecting the discount was this…the 810k property was on the market for 3 months but was listed as a must sell………he was getting desperate and  it was a lemon by then…. it also needed substancial work.. It was an…[Read more]

yes thats the discounted amount as you stated,,,,,, in terms of the price reduction my theory is this…. Statistically we get iproperty nfo from a zillion sources APM, APdata, domain etc etc, etc telling us the rates of growth in suburbs and they are always different to each other and that is becuase of how they go about calculating and…[Read more]

sounds like a good strategy, particluraly if your looking at future inner city areas ( I assume you mean up an coming lifestyle areas). Make as many offers as you feel neccessary as often as neccessary, ive certainly made 5 or 6 offers in one day of looking  on the fisrt day in the feild and had 3 excepted and taken the best deal.. thats pretty n…[Read more]

kenzeljust to add,that means your new equity will obviously be the total value  of the 2 properties combined  minus the loans against them.

kenzel,ok i get it!!Your equity on the existing remains the same as it currently is. The equity on the new purchase will depend on how you intend to finance it and how much of all costs you plan on borrowing. Remember your lender may only lend you 80% of your LVR and if you get a loan for more you need to factor in mortgage insurance plus all the…[Read more]

welcome milt, where to buy you ask! , thats a very broad question and will depend entirely on your person circumstances and future goals and when you want to get there…second question about when to buy, interest rates etc… again that depends on where you buy but general speaking I dont think i would be rushing into anything right now…its…[Read more]

kenzel,yes you can borrow again the equity regardless, not clear on what you mean when you say "Also when borrowing aginst the equity, will that mean the principal of the property gets reduced assuming the loan is P&I? i.e. more interest repayments"are you  topping up the existing  loan perhaps? Cant figure it out??

bardon, waterfront for 700K are you joking!! apartment yes but houses start at 1.5M on the peninsula, unless you go to swamp front of Dbay maybe you might find something , but its still water reserve front but not waterfront. Id be going 2 cheaper houses for the following reasons.1. buy below or near suburb average price.   why, you are in the in…[Read more]

yes is the short answer, However all though there are many ways around it , such as buy a property you can sub divide sell half the block and clear some debt and hopefully get your property into pos cash flow. maybe Rent individual rooms rather than a whole house, renovate to increase yield, take a gamble and buy in a mining town or soon to be…[Read more]

chat2howieI have a 80yr old 60yr old and 120yr properties and i still get back substancial tax on depreciation, you cant generalise that its not worth depreciating becuase its 20yrs old, there is cutains, flooring, appliances any  building work relating to maintainance, plant, fittings fixtures etc etc, you would be suprised what you can dig up fo…[Read more]

Id be talking to your solicitor engaged in the sale as they will have the most knowledge on this subject.  Given that your keen to buy the property your will need your solicitor  to put pressure on the vendors solicitor to get all the inspections valuations sorted out or your solicitor may likely advise an extension extension of the settlement da…[Read more]

hi mini,i agree with everything said above, stop paying any extra onto the loan and set up interest only to max deductions as mentioned and pay down other debt.  ideally if you had had an offset acccount rather than an all in one loan with extra repayments you would have been better off (as you could have isolated this money in the offset from…[Read more]

Personally i would be looking on the inner west train line (heavy rail close to the city will be more and more sort after as the city grows and its harder to commute by car) becuase thats as close as you can get to the city an be close to transport on a budget and in an area that is going through a demographic shift which inturn is improving th…[Read more]

hi chris,Firstly a good choice, definitly a solid blue chip area, close to a capital city CBD and set for continued solid growth short or long term and excellent rental demand. You probably are aware of the West End /Woolloongabba council plan (google it) which earmarks this area for major development and gentrification and government spending on…[Read more]

MiniAlso need info on finance situation, how are your loans structured if you have one.do you work? Do you pay tax?IF you have a loan, Are you paying principal and interest on the loan currently?Do you have an offset account or is your loan bundled with a redraw and free extra repayment options etc, ie, have you payed down any of the loan bey…[Read more]

hi tracydhavent been to Dbay for a while, not since i lived in Brisneyland a few yrs back so which is the nicest pocket, is it in the triangle between old bay rd (park road) and deception bay rd ,ie east of old bay rd on the northern side of Deception bay rd… I seem to remember this is the old established part as there are alot of nasty new…[Read more]

yes thanks chris.. So I guess your saying hold on to any variable loans we might have MOst of us should be getting at least on.07 to 0.9 or even 1.0 off (for the million dollar borrowers)  standard  variable which is under the fixed rates available. This always makes the decision to fix that much harder because you have to predict more than 2 rate…[Read more]

TTB,if you read the ryder hot spot report link again you will notice that its actually showing the results of hotspots terry picked up to 2 years previous as they are showing the recent growth. Hes making the point that these areas were recommended 2 yrs ago and this is the growth you mistsed by not buying his report and acting on it.. So if your…[Read more]

for me i would steer clear of DHA investing. My father (conservative investor) bought into one in 1992 at salamander bay just north of Newcastle mainly based on the long lease and yeild but what happened when he tryed to off load it.. 12months to sell, capital gain basically O, I told him to buy a terrace house in surry hills sydney for 100K…[Read more]