Forum Replies Created
you will proably find that in these type of areas there is a lot of "future investment" that goes on – people on high incomes in other postcodes with little personal debt buying into these suburbs for retirement – incomes are only relevant to areas and can distort real investment in a partiular area
Thanks for the feedback. I recall that the landlord pays the PM and a simple phone call is not that hard – its called service! Our agreement was if any works required undertaking that she notifies me prior as this is the way I like to run my ship as some PM are more focused on the tenant rather than the bill payer. My other concern is that i dont know if she has advised the tenant of a pending rental increase come November. She just never gets back to me!!
should only fix rates when they are on par with variable and want to lock in otherwise stick to variable and pay off your loan based on the fixed rate being offering by the bank – build up equity rather than give it to the bank!!
I dont believe rates will rise this year – probably a rate rise in 1st qtr 2010. Interestingly, the unemployment numbers are a little deceiving – there are simply showing more full time workers working part time meaning there are less people working a full time work with = less disposable income out working in the economy. I guess the RBA wants people to believe that rates are going to increase as quickly as they went down to stop a speculative bubble in property – they are managing perception imo. For all those FHB who get in now expect rate rise and build in a buffer of 2% for the short term but imo rates will stay low for at least 18 months.
Hi Richard,
Im looking for positive cash flow properties in and around Melbourne or Brisbane. Would you know of a reputable buyers agent that focuses on such properties for these regions? Many thanks Jazamite
hewlett25 – could you provide some more information i.e. website company name location etc. Also interested in positive cash flow for new housing within 30klm of Melbourne CBD. Anyone with suggestions on companies offering such property? Thanks Jazamite
excellent – thanks
hold properties in individual names not companies or trusts and spread your properties throughout the country
its best to get a private ruling – i applied for one and was approved it may take a few months but at least you know your safe
yes they are close to the airport only a couple of klms in a straight line away. the runways are parrallel to these suburbs so they are not under the flight path unlike more exlusive suburbs in Brisbane like Hendra / Norman Park etc which can get very noisy
On an unit price of $400,000 what would an expectation be for depreciation benefit p.a. How do they break down land component vs building vs fixtures etc
banyo / nudgee is a great area. entry level homes are still under $400k. Can still pick up a house on a double block for just over the median house price however on major roads or the industrial side of Banyo. Better double block sites are selling for around the $450k+ mark and over $500k for a partially renovated houses. I like the area a lot – it has a train station, bus stops, doctors, two supermarkets, restaurants, cafe – all just about to get a huge facelift thanks to the BCC and local shop owners. Not to mention the Australian Catholic University which moved to Banyo about 4 years ago. Its an international uni so loads of money to rent rooms at $150 a week which is common. Its smack bang between the gateway and sandgate road and for the golf lover has two excellent golf courses to each side. Bordering suburs include Northgate, Virginia, then the more upmarket suburbs such as Nundah, Wavell Heights. Comparable homes in those areas are anywhere between $75k – $200k more than banyo / nudgee – I believe the ripple effect will lead to strong growth in this area over the short-term. cheers jazamite
you wont get much for $280k maybe a pokey unit – try banyo / nudgee also as well as brighton / sandgate
is it possible to use an ABN that has not traded and receipted income to receive this incentive?
is it possible to use an ABN that has not traded and receipted income to receive this incentive?
Thanks for your comments Richard. We just seem to be going around in circles with Westpac atm. I thought a refinance was easy so didnt really care who I went with. What funder is a better option for a refinance? Thanks
We submitted an application to Westpac via a broker about 6 weeks ago. The loan for a refinance was approved conditionally within a few days. However since then it has been a farce. We received a call from the valuer who avised they wanted to do an internal inspection (same valuer from 14 months prior!). Then the next day our broker support officer emailed me asking for details of the property as they were only doing a drive by. Phoned the valuer back who comfirmed they had already booked an internal valuation via our property manager. After they cut the guts out of the valuation (around 10% – 15% less than what has sold in the area) I finally got a call last week from my broker to advise it has been formally approved and a letter with be forethcoming. Now today I recieve an email from my broker as Westpac QA team have run their eyes over the deal and have a serious of questions of which the broker has to my understanding presenting this information to them already!! After 6 weeks of pain I am not any closer to refinancing my loan and I dont understand why it is taking so long. Any suggestions?
The problem with redcliffe is public transport (no rail line) and there are always loads of properties available for rent. I would not be buying a unit up that way as there is so much stock available and a few developers going bust. A good sized block of land will help in the long term but its main downfall is public transport and access to highways. I prefer investing south of the hornibrook bridge in places like brighton / sandgate where you can spend the same money and get access to all the above.
richard …. what sort of questions will the ATO raise. I have been meaning to register an ABN since we purchased our investment property back in december 2007 on advise from our broker / accountant but havent done so as yet … will this be ok? we want to use the ABN for trust set up and property development potentially under low doc thanks jazamite
thanks for that … what sort of information would a lender normally require to complete an application?
