I'm also not a fan of 1 bedroom apartments especially if they are amongst 100s of others. I've got a friend who bought one 7 years ago and after owning it for 6 years sold it for about the same price as he paid for it.  Unless it is something different such as next to water I wouldn't go near them.Steve has acknowledged that it is not easy…[Read more]

bruxism wrote:
thanks for the help so far guys.  Just a couple of queries.1.  first home owners grant.  I won't be living in it, so i couldn't get it….right?  Fiancee is not a permanent resident, so she can't get it, so what's the ruling if we bought a house together?2.  Rural areas.  Yes, i'm aware of the problems with rural areas, but I&#03…[Read more]

That's a hard question.  You need to get quotes but be careful that you compare apples with apples as a lot of organisations provide such varying products.  Try to negotiate a discount with RAA if you go with them.

You'd be better to pool your money. I'm against buying property in small rural areas because of possible low capital growth.You could start your property purchasing now with little or no savings.  Don't forget you would be eligible for 1st home owners grant of $7,000. You need to contact a mortgage broker as soon as possible to get your b…[Read more]

Even though you are retired, you can still get a mortgage.  You need to see a decent mortgage broker about no doc /lo doc loans.

graeme garden wrote:
I have recently bought 3 properties in Deception bay. 1 is a bare block of land on Esplanade Nth, the other is newish 3bdm house further up on the esplanade nth and the other has direct water views thru a park in sampson st. i am buying these as a long term hold and plan to build on the block in november 08. the yields are…[Read more]

Qlds007 wrote:
Yes you can still obtain 80% Nodoc. Because the loan is mortgage insured there are certain post codes that the mortgage insurer will not lend hence this style of loan is not available in regional or rural small town areas where some of the higher + returns tend to be.

Thanks, that clarifies your earlier statement. Apart from…[Read more]

Qlds007 wrote:
1) You will get 80% Nodoc however every loan is mortgage insured so you will be restricted on where you can purchase.

What does the above mean, Richard? Does it mean that you can still get 80% no doc – all my contacts indicate that .apart from RAMS, it is very difficult to get 80% no doc.  Why will you be be restricted on where y…[Read more]

Some lenders are making it even harder by charging mortgage insurance on all no doc loans.  This is a recent development since the sub prime problems in the States.With a no doc loan you must have an ABN. You only need it for one day. No GST registration is required unlike a lo doc loan where you may need it for a reasonable time.  Requirements f…[Read more]

Here is a copy of a post from Steve McKnight from another thread:  Comments???Hi,To throw in a different opinion, if I was betting on the next city in Aus to experience above average growth, I'd be putting my money on Sydney.Adelaide is at the tail end of a recent boom, Queensland is experiencing a increase in prices, but when Sydney goes again,…[Read more]

I'd be very wary of becoming a mortgage broker these days.  It's only a matter of time before a client is going to sue a mortage broker for giving bad advice.  Is the professional indemnity insurance going to be enough to cover him/her?  Even if it does ,it's going to mean that skyrocketing premiums for the next year.As usual, the mortgage brokin…[Read more]

Francesca Chakich wrote:
Do you know the QLD is predicted to have the highest population growth in the next 50 years.I think QLD is the best place to invest long term.  Esp SE QLD….. running out of land in between the ocean and hills :>I think Adelaide is a good short term investing place but long term, very average.

I agree with you…[Read more]

Hey Fransesca Chakich, you have repeated yourself 8 times.  Can you delete 7 of your posts

cutegal wrote:
is there any successful property investor in melbourne woho would giv eme some mentoring. i relaly want to turn around my family's situation.

If you were in Brisbane, I would love to help you.  If you can't get anyone to help you, there are meetings (very little cost) that you attend with like minded investors.  I'm not as f…[Read more]

Add these ones:1. Must be ethical.  There must be someone that mortgage brokers can be checked for past criminal and unethical behaviour.  Is this the job of MFAA?  If Reedy thinks that FBAA are old hat then its no use relying on them.2. Should not involve a conflict of interest.  Don't use brokers who are working for the agent or company you are…[Read more]

As well as the ones mentioned, you should add:1.  Must be good communicators.  They must be able to explain things clearly to non-finance people.  Need to return phone calls, email, text messages prompty. Need to be contactable easily.  2.  Must be up-to-date with all information.3.  Must have at least one investment property themselves to that…[Read more]

All my landlord policies (except one) are with Elders.  I tried the banks but their policies are a lot different than Elders.  It was very hard to compare apples with apples.  I had a couple of tenants who shot through without warning.  Landlord insurance covered me for many weeks rent until I could get another tenant.Anyone landlord who doe…[Read more]

Body corporate insurance covers common property so if the front yard fence and the garage door didn't belong to one particular owner then body corporate would be responsible.  You need to contact your body corporate manager with the specifics who should be able to answer you.If you are in a body corporate you need to pay for most of the contents…[Read more]

ShaunI've just refinanced all of my loans because my bank constantly made it hard for me.  I had over 10 loans and stupid me, didn't realise that they were cross collatirised.  It cost me over $20,000 but was well worth it because my broker was able to get 2 deals over the line for me.  If I stayed in the same bank,  I wouldn't have made the $50…[Read more]

pete g wrote:
I think that area is a cracker for a lot of reasons and would hold for sure.  I have quie a few savvy investors as cleints who have bought in this area and are looking for more.  Good time to hold an asset in SE QLD.pete gwynnepgwynne@investorfinance.com.au0423 028 239

Thanks Peter G.  I've just about made up mind that I won't se…