I’ve bought 11 wrap properties in the last year, had 1 negatively geared one prior to that.
I’ve found the major hurdle has been getting finance. I’d have a lot more if I didn’t keep having to stuff around on that front. I’m up to my 3rd broker!!!
Yes, I use the company/trust structures, but they only help for asset protection. Every time we do…[Read more]

Hi OlorinSledge
You’d be surprised how many people would love to buy a home and can’t get finance. Estimates put it at around 15-20% of the market can’t qualify for a multitude of reasons.
This is one of the reasons I like Rick Otton’s strategy of encouraging people to refinance fast (ie 1-2 years), because most people are willing to pay the…[Read more]

I bought a copy at Reader’s Feast, corner Bourke street and Swanston Street in Melbourne, for $29.95 on Sunday 3rd August. They had another 5 or 6 copies there.

Keep smiling
Felicity

Hi Terry
Thanks for your reply, this may well be the problem.
Funny part is, my income really has grown enormously, thanks to wrapping! hehehe
Mind you, I’m still getting the “exposure” line too from one lender, the size of my mortgage repayment each month makes them nervous, regardless of how much income I can show to cover it. Not sure why…[Read more]

Hi Terry
Finding deposits still isn’t the end of the problem, as you may still have problems switching to low doc loans at that point.
Apparently because you’ve done a number of full disclosure loans, then want to switch to low doc, lenders get suspcious. At least, this is what’s now happening to me.
So here I was thinking that if I had my…[Read more]

Sooshie
The fact that you’re seeing signs at all suggests the market has softened at least a little.
When houses rent so fast that there’s no time to put a sign up, then you know the market is strong with low vacancy.

Keep smiling
Felicity

I tend to like information couched in positive terms as well.
Having said that, though, some of Jenman’s information about the tricks and traps of RE agents is worth reading, purely to open your eyes. I’ve certainly become a lot more wary, and it’s been worth it.
I buy a lot of property through a Jenman agency, but not particularly because…[Read more]

Hi nnnnnn
I’m not sure, but I’m going to assume you’re referring to the ninemsn meeting which is on once a month in Melbourne, which I’ve mentioned here before.
Sorry, I’ve been away, and didn’t post this before I went!
Here are the details (courtesy of manny):

the July (booked it in nice & early) Melbourne MSN/Somersoft IP Group meeting will be…[Read more]

Hi Joff
I think it’s all about buying what you can afford, not necessarily what you want.
When hubby and I were starting out (over 15 years ago, gulp!) we looked around the suburbs we were used to, and decided that if we bought there we’d have a mortgage to choke on. So instead we went out of town a bit, bought land, built a house, and worked…[Read more]

Hi Leigh
Not sure where you’re located, but in Victoria an agent is not allowed to accept an offer prior to the S32 being ready. You are supposed to sign a particular page of the S32 as part of your offer.
Having said that, what agents are supposed to do and what actually happens aren’t always the same thing!
Personally, I always like to sight a…[Read more]

I find this comment interesting from Senator Murray…

“tell me why rentals are roaring up and property prices are roaring up at unsustainable levels”

I’d love to know where rentals are roaring up, everything I’ve seen and heard suggests that in most areas there’s actually an oversupply and rents are dropping.
But although I do agree that…[Read more]

I also found Monopoly Tycoon quite fun from the aspect of developing property. []

Keep smiling
Felicity

Hi BuckRogers

http://groups.msn.com/PropertyInvestment

It’s a message board and does incorporate a chat room.

Keep smiling
Felicity

Hi Helen
It’s a reasonably informal get together of people interested in property who live in Melbourne.
Usually each meeting has a “theme” – this month a number of people are taking development plans and discussing developing in general. In the past there have been discussions about positive cashflow property, wrapping, OTP purchases, finance…[Read more]

Hi Steve
Well, I tested it out a few months back, and sure enough, a loan to our company/trust structure where we were personally listed as guarantors shows up on my husband’s credit file, specifically stating he applied as guarantor.
Perhaps you manage to avoid this because you have a good, long term relationship with a personal banker at one…[Read more]

Hello all!
Well, where to begin? I’m a stay at home mum with a 6yo and 2.5yo, and we live on the outskirts of Melbourne. I convinced my hubby to buy an off the plan apartment in Melbourne about 5 years ago and a townhouse in Brisbane around the same time.
They did okay (basically positive after tax deductions) but I soon realised that getting…[Read more]

There was an article on deposit bonds in the latest issue of Money Magazine.

Keep smiling
Felicity

Hi Brent
I notice you said –

“As for credit record searches and enquiries – I can remember Steve saying once at one of his early seminars that the loans he goes guarantor for don’t appear on his credit record.”

Are you aware of whether or not this has changed? I know that whenever we’ve gone personal guarantors for a loan to our company/trust…[Read more]

You read my mind Becky, I was thinking the other day that the “useful links” thread was getting way too long and it would be good to get all the links compiled into one simple document. Please say yes Steve!
And if he says yes, Sooshie, can we start another useful links thread for new links, and contain the link for Becky’s document in the first…[Read more]

It probably depends a lot on which government is in power and who they want to get on side.
Despite past evidence which showed that removing negative gearing created enormous problems for the little battlers in a short space of time, reality is that there are still plenty of charity organisations who regularly bring up the fact that the battler…[Read more]