Hi Rick, I’ll have a go at your questions. I’ve seen these types of properties managed by a real estate agent, there’s no reason you cant do the same. Just talk to some and find out what the deal is.
Each room is leased separately, each tenant has to pay their own rent and bond and in the tenancy agreement, cleaning, use of common areas etc. would…[Read more]

On a stand alone basis, ie- rent versus mortgage, you’re not CF+ (let alone with expenses factored in). Rockhampton is not booming, not according to the stats. It’s like a lot of places in Qld, the property market is scratching it’s head wondering whether to go up or down.
If an agent who is selling real estate in town tells you it’s booming, they…[Read more]

No, definately not. If this has happened to you contact the agent immediately and find out what’s going on. If there’s any run around from the agent your next call will have to be to a solicitor.
The vendor has to OK the offer, if they haven’t it could take a while to get your money back.

Springfield Lakes, Qld. Just recently moved from Melbourne. Bloody Qld humidity…

Welcome to the other side! In regards to the NZ agents comments about property just be careful because if a person giving advice has a vested interest in that advice, well there’s a high chance of BS!
About the Taxi licence, I think your money would do better elsewhere, a lot better. There was an article about cab drivers in Brisbane the other day…[Read more]

Yes you can, this is called flipping. The contract needs to be unconditional though.

The Aust. Bureau of Statistics is generally pretty good. You can get a suburb profile online for $10 that’s quite comprehensive. I think their site is at abs.gov.au

Hope this helps!

I’ve been watching the area for some time now and believe that it’s done its dash.

How long’s a piece of string…
If you think it’s a good investment and you’re happy with it and it fits into what you want to do investing wise, then go for it.
However, in this current market I believe you have to be a brain surgeon in regards to investing. One wrong move and it’s really gonna hurt! G7

No you’re not missing anything, just complicating it!
The end price of a wrapped property is simply the price you initially sell it for. If you wrap a house for $100k, it will be $100k at the start, middle and end.

Hope this helps… G7

1. Yes they do build equity in the property with every payment they make. It’s just like a standard mortgage, although they are paying off that mortgage from you not a bank.

2. With each payment the amount of money remaining on the property will reduce and you’d have some sort of spreadsheet to track this. If they want to pay you out before…[Read more]

You only pay CGT after contracts have been exchanged. In a wrap you dont exchange contracts with your purchaser until they make their last repayment, 25-30 years down the track, unless they re-finance earlier, rather than taking the loan to term.

Hi,
If you are in a strong financial position or it’s a really good deal eg. Price $100k, Rent $250pw you can often buy with no cash down. There are other factors, talk to one of the brokers, they’d be better to help.

FHOG is $12 000 in Vic. 7k from federal gov, 5k from state upto a certain amount though, I think it’s $250k and then it phases out.
If you bought a house in joint names, then no, she would not be eligible for the grant.
Grant or no grant, you can invest in as many properties as you like. Hope this helps…G7

You might have to meet the market where it’s at and just sell it for whatever you can get.
Wrapping something like this would be very hard, but not impossible…Good Luck G7

I’m not a broker or anything but based on those figures you’d have a tough time even getting the time of day from a bank, let alone any money.
$90 000 a year is an absolute pittance, how do you guys eat?

Hi Lee,
I moved from Melb to Sydney (Mosman), back to Melb (Mornington Peninsula- home town), then to Brisbane (Mt Gravatt East), back to Melb and on Tuesday I’m going back to Brisbane. From there I’ll eventually go to the Gold Coast or back to Sydney (not Mosman). I like Sydney the best. It’s great fun moving interstate and starting anew,…[Read more]

Funny but true, awesome post![specool]

Just simply go into a Brisbane City Council office and ask for a printout of their zoning definitions.

Sometimes the best investment decision is to do nothing. Just watch what happens for a little while. This may be hard, especially when $10k is burning a hole in your pocket.
If you’re worried about being in too deep, then you will be when the deal is done.
Leave the money in the bank, move to Brisbane and then re-assess in the near future. Dont…[Read more]