Commercial property requires 30% down as banks will only lend on 70%. Also with the market slackening off a bit, you PPOR (Prinicpal Place of Residence) might not be valued as high as you need/like, therefor I would make sure I could redraw the $10K any time you needed it. Although banks like to revalue in 6 months blocks, if have seen them…[Read more]

Snooze – found out that you can’t live on negative gearing?? Well unfortunately it’s true. As it has been said – How many negative geared IP can U afford?? 1, 2 or 3, Max?? How many positive geared properties can U afford?? As many as you can get!

Steve’s techniques are quite universal, and many other people teach similar concepts, some in more…[Read more]

NSW – New tax taking massive chunk out of yields, higher unit vacancies, harder to get finance for certain property types, massive increases in price recently and market seems to be softening.

As for Wraps being illegal in WA – B.S. They are not illegal all you need to get is UCCC license and you can wrap. As it says in their media release:…[Read more]

Depends on the size of the room compared to the rest of the house. Find out what % it accounts for and use that for your tax purposes.

You may also have to draw up a floor plan to show the ATO.

Rgds.
Lucifer_au

Well think of this way – it applies to homes under $400K and where can you get those in Syd??? No where.

But what about other types of housing?? Like units??? And who are Bob Carrs largest donators (to the state labour party)?? Why unit developers are… Fancy that – Now that is a surprise! And such a coincidence too!!

Or perhaps not…. Perhaps…[Read more]

On your website a_workaholic – $84,500, @ $150 per week (first one on “investors” section..).

After running Steves 11 second rule the property is basically a negativly geared property… In fact none of them meet the 11 second rule.

So please stop advertising the site, as simply it dosen’t come up to scratch for what most investors on this forum…[Read more]

Because the sellers would expect to see them in that. They don’t want to see a guy in footy shorts selling th property, they want to see someone in a suit. Also it makes them look more professional (and perhaps physiologically, make them seem more knowledgeable).

Rgds.
Lucifer_au

Well it depends – are you onselling them? If you are not (your using for business just keep the reciept and add it to your business expenses (if you have a company).

I’m am unsure about what records have to be kept if onselling (sales dockets, reciepts, etc – but this could be very time consuming; eps. if a hobby).

Rgds.
Lucifer_au

Terryw:
Anubus
What if your were at fault and the insurance didn’t cover you. eg you may have done some electrical repairs without being a licenced electrician – and the tenant is electricuted. Or any of a number of possiblities.
Terryw

Anubus:
If you do that you deserve to be sued and lose.
As for insurance companies going broke – the exception…[Read more]

So you’ve got 75% of customers happy with their broker, and less than 5% of complaints are about costs…

“It’s easy to use those words when we don’t like what we read.”

What don’t I like about this article??? The fact that most people are happy?? The government wants to intervene?? Most complaints aren’t even on this problem???

Yet why write…[Read more]

Whatever the lower of the two, so for example you might buy a property for $200K, but it s worth $230K. The banks will only lend on the $200K (and vice versa). Mortgage insurance only applies to how much you are borrowing not how much spare equity is in the property (so if you borrow over 90% you will be paying mortgage insurance, even if you have…[Read more]

What about development opportunities?? Find out how much development the council will allow, just another way…

Rgds.
Lucifer_au

Basically what Chan$ said – another example would be a commercial store front with a large car park out the back, add some self storage lock up garages on the unused section of land.

Converting a wharehouse to student accomidation.

Etc,

Rgds.
Lucifer_au

Yeah those brokers are sooo bad….

Hell, I got 97% lends on 5 houses through my broker… and of course they never deliver!!! Good luck getting that going through a normal banks process….

And of course the banks always give you the right info, just go here and see: http://propertyinvesting.com/forum/topic.asp?TOPIC_ID=9044

I would highly…[Read more]

You should go and see Anthony Cordato, if in Sydney. He gives you the contract and an hour of his valuble time. I highly recommend you see him.

His contact details are- Ph: 02 9290 2773; Address: Lvl 10, 16 barrack St, Syd, 2000.

I could post the contract but since this is a legal document that must be upheld in court, I suggest people don’t as…[Read more]

MY INITAL ADVICE IS THAT U STOP USING CAPSLOCK!!!

We need some more info, state (there are two Rockhamptons I know of…), as well as strategy (wrap/buy & hold, etc) and lastly prices and how you are going to buy a IP (deposit, equity, etc).

Rgds.
Lucifer_au

“Say a 50k property with $120 rent. With interest, some repairs, landlord protection insurance, rates, and all the costs associated with borrowing (including valuation), QS report, property management costs, that would be around $10 profit a week- net.”

You sure??? You can also get I.O. loans, givng you some extra cash, this should come up to at…[Read more]

“Two-thirds of the brokers investigated claimed to offer independent or impartial mortgage advice even though their recommendations came from a limited pool of lenders.”

There are only 4 banks, and they are THE major lenders, so I am not surprised to see this comment, it’s kind of like there are two companies that make sugar, and someone saying…[Read more]

“and most importantly WE PAY THE DAMM TAXES”

I suggest you find a new accountant.

Rgds.
Lucifer_au

Up your payments in terms of rental a bit.

Also perhaps it would be better going cashflow positive for your first one as you can afford to make a mistake, without it blowing your budget.

Definatly take in consideration Sooshie post too! There are many things you will have to weigh up… For example perhaps it would be better to take equity out…[Read more]