Hi CatalystYes we are from Wollongong — didnt know much about Coomera.I should have rung my sister who lives up there to give me the heads up about the area BUT i didnt and its my bad luck.Everything you have stated above is on the money…got sucked in big time

Hey Speedy GonzalesIts exactly what you have explained above on how we ended up with this so called deal.  Our goal firstly was to repay our PPOR mortgage off quickly using an offset account along side having our first investment to create more equity to move on to the next investment and so forth.The property consultant then provided 3…[Read more]

Hi AndrewIts a bit of mess — I should have done my due diligence before hand.Do you know of any independent valuers in the area?  Thanks for the advice above as well

Hey Terryw — Anyone really?Do you know any good lawyers and accountants, even a broker for finance in the Wollongong Area who are property saavy

This is my first property investment.Not sure how it stacks up with duplex that are 5 years old in the same area. Not sure what you mean by paying a premium because its new. There are a few similiar duplexes to ours built in the same estate, well they are the same plan and still building more properties.Ive only just started to look into it after…[Read more]

Um the purchase price is $399,995  and expected rental is between $380-$400, our plans are to buy and hold.Thanks Derek

Yip I get your analogy — understand totally.  I diffently will arrange for an independent valuation to be done.Thanks Terryw

oh well its a bit hard to explainDevelopers develop the land, so they need buyers for properties, they give the property consultants rights to sell the properties on their behalf.  We signed the contract to purchase the property.We did pay a fee well it didnt physicall come out of our pocket — this fee has been factored in to the loan amont, so…[Read more]

Amendment to "the developers have given the property consultants the right to sell the properties for them" property consultants have the authority to sell on behalf of the developers.Timely manner — to make sure all the contract terms and contracts are meet — or should we be taking more control of it, it feels like we have no control.

I was a bit vague wasnt I.Im really not sure whether they are a mentor type company but they are a company that enrols people into attending a seminar about investing in property and this company is affiliated with a  financial service team and a property consultant team.  They help to design a personal investment  portfolio.  We went through 3 s…[Read more]