DWolfe wrote:
Yeah Shoalhaven still has a bit of cheap property getting around. What do you guys think about Tamworth? D

Hi DWolfe, I know your comment was a while ago. Tamworth is an excellent place with developments happening in all directions. Current population now 50000. New subdivisions around town x4 (at least) bringing an estimated…[Read more]

Yes I saw that too.  It was a link on the same youtube page as Uncle Knackers little gem.

Young n,  don't give up!!  I'm not sure how young n you are but young is good to be starting/thinking about all this.  A lot of people on this forum, me included, wish we knew then what we know now.  You have a great deposit-no question the envy of many.  Investing in prooperty great plan.  But your servicability (ability to pay back the loan/…[Read more]

very good. I liked it.  Except I have no fence posts to  try it out on.  Maybe I could put some in, wait a week till the cement goes hard then try pulling it back out again.

bagpiper wrote:
What is the first step in buying a house?

This is a very broad kind of question.  I would suggest look at the end point.  Is it for you to live in? Is it an investment?  If IP, then are you looking at buy and hold, buy and renovate, negative gear, subdivide,  regional, city, units, commercial, residential etc etc etc.  May I su…[Read more]

Office blocks sometimes sit empty for long periods, which is why commercial property is regarded as riskier by banks.With what you have said you could be very vulnerable if you borrow that much and it does have a vacant period in the context of your casual employment only.

woops, missed the bit about keeping both!  I all gets complicated if and when you move to the 700K IP because if it ends up being the one with the big loan then it suddenly stops being tax deductible and if the current PPOR is paid off then you get all this rental income without any interest to deduct against it.I suppose you are also aware of…[Read more]

dreamteam wrote:
What can I do to improve my cashflow, AND keep my properties?  Own – PPoR (2 bed flat in cap city) worth 550K, owe 200K on it, would rent for $450 if I didn't live in it.Own – IP (3 bed house in regional city) worth 700K, owe 400K, rents for $400/w

Are both loans P&I or is either loan interest only?  My suggestion would be r…[Read more]

tongue in cheek, ladies.  Tongue in cheek!

We have used conveyancing works for a simple purchase recently this year.  No complaints.  And we got 2 quotes from them and another firm, relayed the quotes to theother and got 20% off or thereabouts in the end.http://www.conveyancingworks.com.au/

Salina wrote:
Ladies, how many times have you been to an open home just to be totally ignored by the Real Estate Agent ! I'm an avid investor (I have four IP's) – but it seems that if you are a lone female, then agents don't take you seriously.  If I bring my Dad along, the Agents just talk directly to my Dad and completely ignore me!.…[Read more]

Yeah, do that.  And point out the bodies as well. That'd drop it a bit more.

Terryw wrote:
Putting money into a LOC will save you interest but will cost you in tax. Everytime you place money into the account it is a repayment of a loan. Everytime you withdraw money out it is new borrowings.So if you put $100 in the LOC for one day and then take it out tomorrow to buy food the investment loan has decreased by $100 and the…[Read more]

Linar wrote:
In some states you can't buy with vacant possession.  You have to take over the leases until the leases expire.  I don't know what the situation is in Tasmania.How desirable is the area for rental?  Would it be easy to get tenants at $200 pw?  If hiking up the rent by so much means that potentially you will have trouble getting ten…[Read more]

australia-that big island of the north coast of tasmania

Scott No Mates wrote:
Risk v Reward. Buy the property vacant possession. If the existing tenants want a new lease, market rent (taking into account the condition of the property).There is no limit as to how much a rent increase can be however it must be supported by market rent. It will take 60 days or longer for the new rent to be effective,…[Read more]

Oh yes, I see.  I don't really have any non-deductible debt.  I just use the other (private LOC) as an overdraft facility if and when I need it (eg buy a new car

>rapidly repay—->back to close to zero again)

cmason wrote:

House Call wrote:
good thing there is not all that much "spare money"! lol  (lots of kids and cars and o/s holidays takes care of that)

Think Terry was refering to the rent should be going into your offset and not into the LOC

Now that bit I do not understand.  I thought rent going into the LOC was a good thing because my i…[Read more]

Catalyst wrote:
If they are on expired leases you can put the rent up any amount you want. They MAY take you to tribunal but if it within market rent you shouldn't need to worry.

I thought there was a limit to how much you could increase rent in one go.Thanks for your comment though, all that does make good sense.

Terryw wrote:
HCYou shouldn't be paying spare money into your LOC as you are paying down the loan..

good thing there is not all that much "spare money"! lol  (lots of kids and cars and o/s holidays takes care of that)