Hey mate,

Wel the US certainly sounds like a great place to invest in, and with returns like that its highly positive geared and a no brainer. If its not too much trouble, do you mind telling me anything I may need to know in terms of buying a house in the US from Aus? I mean is there ANYTHING I should know, different tax systems I am sure etc.…[Read more]

Hi Jac,

Wow thanks heaps for your detailed explanation. It certainly did help and now I understand why some people prefer to do interest only loans. For me it seems like to risky a move so I’ll stick to interest and principle I think for my next property.

Also very helpful about the negative gearing info. It’s such a pity its for the interest…[Read more]

Hi Terry and duckstar, thanks for the replies guys. No I wouldn’t be able to borrow against any equity earned on it. We are borrowing from a family trust type thing to help us get a first home and that is its sole purpose. But once I get enough equity I may as well go traditional method and go see a bank that can help we to build a…[Read more]

Hi Terry,

Thanks for the reply. I think this is a better option for me when I’m ready to get that second mortgage.

Cheers

Joe

No they wouldnt.

What if I take advantage of the lower interest rate for a while, then is it possible to transfer my mortgage to a different lender say in a years time for eg use ANZ. Is the ability to transfer a home loan between institutions even possible? Are they any reason why this wouldnt be possible?

Thanks

Thanks for the simple lesson in economics 101

Hi Ryan ,

Thanks for the reply. I will start looking at rural properties, because certainly in all major capital cities I have had huge problems trying to find positive cash flow properties. I think your right about the renovation/value adding but you just need to think about that right combination of cost cutting for maximum profit but thats…[Read more]

Thanks for the tips mate… I reckon that sounds like a plan that can work.

Cheers

Joe

Yeah I was thinking that might be my best option, but thought I would ask here first just in case

Cheers

Joe

Wow that sounds like a lot of work just to become a mortgage broker. Thanks for the heads up guys.

Joe

Thanks for the reply Tony.

So in terms of mentorship for two years, is that on a full time basis only? Or is it possible to maintain your regular full time job and get the mentoring on a part time basis?

Does it mean I would require a mentor in person, or is correspondence also fine?

Thanks again

Joe

Hi Trev,

Thanks a lot for your help mate, very very much appreciate it. I will have to google the truss you were talking about to get a better understanding and see if that is the case. Looks like the extension will just have to wait.

Thanks again

Joe

Thanks Scott,

I didnt even think of that aspect, its a good point.

I called some company which said they will charge $5grand for a single wall down, then i called a local small business guy and he said $3grand for the two walls down. I was thinking though if I go down and smash the walls in 80-90% and he can finish the job i could save some…[Read more]

Yeah thanks guys, I totally agree and see its worth it now.. Just had to confirm it was worth it, thanks guys.

HI MarJac,

Thanks the reply mate. Looks like we should just hire someone else to do the work, discussed with the mrs its not worth potentially missing something important like you have mentioned.

Just one other thing, do you have to pay this fee for every potential house your going to buy.

For example, if I put in an offer to a place which was…[Read more]

Thanks for your answers guys, comprehensive and exactly what I was looking for so cheers.

Thanks Scott, looks like a cheaper alternative- and i’m all about the money lol.

Cheers

Joe

Thanks for the replies everyone.

Scott especially, I called about the cert IV and your right, thats the course im looking for. It costs around $2.5 grand and takes about a year part time (doing it externally). The lady said it is enough info for you to learn pretty much most things, and can open your own business with it. There is a diploma in…[Read more]

Thanks Tony and SHales for the reply.

I will just wait till K Rudd stops the FHB, and hopefully prices will come down.
Its not really like im trying to find the diamond in the rough, I just don’t want to buy a house and it go down in price.

For the time being I will continue to rent or should I say pay of some guys mortgage while he smokes a…[Read more]

Thanks everyone. I think the logic of people buying earlier because of the FHB is true, and that when it stops (if it stops) the lower end of the market won’t have as much interest at least for a little while.
I think we decided to wait it out, we don’t NEED the FHB for deposit and don’t want to rush into it if prices will fall again…[Read more]