I've been waiting now for 4 weeks for the report in order to get the green loan.  How long does it normally take?  Which banks lend on these green loans and how strict are they on eligibility requirements?

That's a hard one as you don't give much information about income, education.  My advice is to get as much education as you can, not the formal stuff at unis and TAFE but by following those who have been successful (eg Steve McKnight, Margaret Lomas, Michael Yardney, Reno Kings, Jan Somers, John Fitzgerald).  There are heaps of books around so jus…[Read more]

There is an article in the latest API magazine re NRAS properties.  The figures look compelling.  I'm going to contact the 3 builders mentioned and would like to know if anyone has had any experience with Aztec Developments, Awesome1 Property and Surat Basin Homes.The most attractive thing about these properties is that they are cash flow p…[Read more]

My advice is that if you can afford it now, buy it.  Of course you must take into account interest rate increases.  Property in many parts of Australia is still rising quickly.  If you wait another 12 months, you've not only paid rent but prices may have risen by $20,000 plus if the value of the property is over $400,000.

There are companies around that will do all the work for you.  For example, Developers Edge source land, build the house and even organise a tenant for you.  Some of his clients live interstate and even overseas.  Some of them never personally see the property before it is tenanted out.   I recently had a house built by his organisation and was…[Read more]

I had a similar problem to you with a property I had in Brisbane.  It's a matter of patience because it will eventually rent out.  It's so important to show confidence in your property manager otherwise you may as well move on now.  Also, you must work closely with your PM and ask him questions about his marketing strategy, when to lower rent an…[Read more]

I'd agree with firstmillion and Terry.  Increasing the loans on your IPs is a lot more tax effective than putting the $60K as deposits for IPs.  You need to talk to both your accountant and a good mortgage broker.

Have you considered the capital gains implications in selling the property?  Unless you have to sell, I'd hold on to the property. 

Normally I don't investing in mining towns as the prices and rental demand can change so quickly.  However not all mining towns are the same so could you give us some information on what factors are likely to underpin Emerald's future.  Why are are so interested in Emerald?My preference would be to invest in Adelaide as prices are likely to be m…[Read more]

crashy wrote:
hi Michael have a search for 'redcliffe" on this forum, Ive written heaps about it. disagree with stalled the last 2 years, I sold one in March 08 (peak was Jan/Feb 08) and another in Aug 08. I no longer own any property. I dont expect price growth to come ANYWHERE anytime soon, but IF it does come somewhere, Redcliffe is where it…[Read more]

Hardly anything available in any of the areas you mentioned for under $300,000.  The Redcliffe area ie Margate, Woody Point would probably have the best potential.  Still lots of older homes but would need a fair bit of work at your price range.  There are still reasonable quality houses in Kallangur for under $350,000 – growth potential is re…[Read more]

god_of_money wrote:
I can do it myself without paying 3%

I've got a friend who went through Custodian Wealth for his first investment property.  He said that, without their help, he would have been too nervous going into property investing.  The 3% amounted to close to $10,000 but thought that it was well worth paying as he had no hassles at a…[Read more]

Rates may go down to 2% but not likely to 1% unless our economy really "tanks".  Even if rates did fall to 1% I don't think that mortgage rates will go down much more from our present levels.  If interest rates drop by another 1% then our mortgage rates may drop another .5% as the banks keep complaining about their high funding costs.

I've just read all the posts to this thread and must say that I am very confused.  On one hand we have a few people saying that they are very happy with Premium Finance while the majority (in particular Richard Taylor) bagging them.  If they are as good as some people say they are, we could be missing out on the services of a great organisation. O…[Read more]

I've built quite a few properties and something always crops up which delays the project ie rain, getting the right tradesmen at the right time, materials such as kitchen appliances not available.  6 months is possible if everything falls into place.I know it's extreme but I've got a mate who has still hasn't got his project finished after 24…[Read more]

I need an interior designer.  Do you deal with Brisbane investors?

There is no way that I would buy now.  I'm just waiting for the FHB grant to finish or change in July and start at looking at bargains as unemployment creeps up.  Rents in Brisbane are still holding up with 2 of my recent purchases rented at above my expectations.My finances are in order so ready to swoop as soon as prices start to "tank" d…

I agree with Scott No Mates.  9 – 12 months is about average.

I wouldn't buy now even though most of the fundamentals appear to be there.  The "smoker" is unemployment which will make things even worse than it is now.  House prices are likely to deteriorate over the next year so why not wait a bit longer when interest rates are going to go over even lower.

Richard Luke has done what many other brokers and bank managers couldn't do for me.  He is an expert on CBA lending.  HIs phone number is 0432890344.