Contact me by email. Have some wrappers who might be interested.

Megan

Megan

http://www.propertyhub.net
Your Investing and Developing Information Hub.

As a mortgage broker, I can highly recommend Kim Burke from Avibe Finance. Investor/developer herself and really knows her stuff!

Megan

Megan

http://www.propertyhub.net
Your Investing and Developing Information Hub.

PT and others

All great questions. I too, have a great bank manager but also deal with brokers. I have no loyalty to any in particular – at the moment it’s whoever will get me the best solution for my needs – although I agree that a good broker can be a great ally.

Re: Real Estate Agents – I agree with g7 – they are a necessary evil and you…[Read more]

I did hear of another property like this a couple of years ago, also in Brisbane. From my limited understanding, the purchaser was able to purchase it for the full amount of the debt – in that case it was substantially under the value of the land (if I remember it was about 40%).

Seems very much like the foreclosure market in USA although, to my…[Read more]

If it were me, I would be buying now as the longer you leave it the more growth you sacrifice.

The above posts are great thoughts.

Megan

http://www.propertyhub.net
Your Investing and Developing Information Hub.

Hi All

Couldn’t agree more with everything that’s been said.

Just another point – it’s not only tenants that might sue you. Car accidents, business dealings, employers, etc – it’s a minefield out that and, if that’s not all scary enough, NSW is now the second most litigous state in the world!!!!

Yeah, thanks to all the ambulance chaser lawyers…[Read more]

There are a number of threads on this forum that deal with this question exactly. It’s one that seems to come up a lot.

I have a friend who was in her late 40’s and had never owned a property. She continued renting in Sydney, and bought her first investment ppty in QLD, (cheaper to buy/better rental return). 12 mths later, she bought her…[Read more]

Kasia

Good advice from Arny. Building can be expensive and often more so than you think. It’s not only the house, but the landscaping, carpets, fittings etc that start to rack up the $$$$ and, all the while, you have no income.

As well, not all buildings are worth more than what you paid (land+Bldg cost) when complete so you will more than…[Read more]

Paul

Not sure what your question is but if it is Should I keep renting and buy and IP? then there’s a couple of recent really good threads that talk about this.

Check them out on this forum.

Megan

http://www.propertyhub.net
Your Investing and Developing Information Hub.

Scott

The banks seems to have a couple of lending “tiers”. First is serviceability i.e. your ability to repay/lending on income. This is the traditional way or lending and the bank’s first “port of call” esp. for new investors.

Second there is asset lends – where they lend against the value of the asset. The Low Doc/No Doc loans around today…[Read more]

Scott

Good on your for thinking ahead.

Too many people dive in without the right support team and pay the price later on.

My general advice is – find people who already do what you want to do and take their advice.

Here’s my support list:
Accountant – a good one is crucial. Make sure he/she knows and understands property and is a property…[Read more]

Cojah

I’d leave the REA’s out of the picture if you can. I find that sometimes the make what could be an easy transaction complicated.

I always prefer to deal with the vendor directly as often a win-win can be agreed upon whereas a REA will often talk a vendor out of a deal because they’re anglng for more/faster/higher commission.

I know that…[Read more]

You can claim the interest on your loan that directly applies to the earning of income i.e. if you use 1/3 as office space or workshop then you can claim 1/3 interest.

BUT BEWARE – as is rightly pointed out above, you will open yourself up to Capital Gains Tax if you claim any of your interest. This applies, obviously, if you sell the property…[Read more]

Yep, I think you are stretching it!

You can only claim costs directly incurred with your income producing activities. The fact you have a child that can’t be left at home alone is not the concern of the ATO. I guess their question is why do you both have to go?

Ditto the dog I would think!

Hope this…[Read more]

Here’s the way I do it. I always look at outcomes and then pick which best fits with my investment strategy. With $200K you could do one of the following:-

Buy 1 property @ $400K with 50% deposit. In 10 years (hopefully) it’s worth $800K and your asset base is $600 (cost of house less loan owed).

Buy 2 properties @ $400K each with 25% deposit…[Read more]

Went to Peter Comben’s course when we first started developing. It’s very good, although very basic. If you don’t know much about it, it can be a great start plus you’ll meet others who do it or are starting out. He concentrates a lot of feasibilities – which are pivotal in developing.

Having now “been there/done that” there is no better…[Read more]

Country/regional areas are typically where you’ll find some cf +ve ones – rather than city.

Developing property still, for my money, gives the best returns however, of course, you need to know what you’re doing and do it carefully.

Otherwise wrapping (if you like it) will always give you positive cashflow and perhaps a couple of these might set…[Read more]

I think you can get these details from RP data, but you need a subscription.

Otherwise try the council although the privacy act may stop you getting the info.

Megan

http://www.propertyhub.net
Your Investing and Developing Information Hub.

It’s my understanding that if you have a property investment entity (coy, trust) then you can claim but if it’s just you then it forms part of the “acquistion” cost of a property (like stamp duty) and goes towards the cost base when (and if) you sell for CGT purposes.

Check with your accountant – they may have an alternative…[Read more]

Many believe the mid-north coast is going to be a boom area because of the influx of retirees heading that way. If I were you, I’d hold onto it, esp. as you seem to be coping with the cashflow.

I feel that, in a few years, you might regret letting it go. I understand your wife wanting to do the renos. but perhaps you could hold off a bit or do…[Read more]