duckster wrote:

jsoohoo wrote:
Hi Fellow Investors,He told me that if I were to bid and if the bid was  too high

Ask your lender who they use as a valuer and then employ that valuer to provide you with a valuation before you go to auction.That way you will know exactly what the property is worth before bidding on it and you can use the…[Read more]

gurjjeet wrote:
Hi Everyone I am in process of buying my first IP in Coomera. I have finally taken my first step after 6 months of confusion etc. & right now I am in cooling off period of contract which is making me write this query. I would appretiate some help. I am buying a near new 4 bedder house on small land (around 380m2) is this a…[Read more]

Which issue is this? I would like to read up on the article myself. I'm also thinking about investing in Upper Coomera but have mixed feelings about the place. I would love to know how your investment is going since 2008?  What is your feelings on your property at the moment? Any advice would be great!

Rockian wrote:

Trance wrote:
hey…[Read more]

Sorry I should also add, because this is my first property and the fact that I'm looking at 90% LVR..

Hi Richard,This is for an investment.

Thank you all for your reply.ryan – I'm calculating that it won't be positive cashflow however I am holding out as negative gearing (maybe neutral if I'm lucky) until the go ahead is given for lng projects in that area. How soon the property becomes positive cashflow is something I can't answer and I take this as purely a gamble.  

Music to my ears! Cheers Sonya.

Thank you all for you advice. I plan on seeing an accountant in the following week or later and see what he/she says about buying in my own name or in a trust.  I was reading the 'Your Investment property' magazine today and read that its becoming more difficult to buy in a trust and from the advice above it doesn't necessarily give you more…[Read more]

I don't have an accountant and was advised by two mortgage brokers (who are also financial brokers) that an accountant is not necessary until I buy a house and then need a tax return lodged.  DWolfe – I felt as though my dream was crushed because when I was told that I could only borrow 400k as an individual with my current salary, I got the…[Read more]

Thanks rinnia for your post.  My main concern was the risk of having constantly maintain these houses and it falling apart on me down the track.  I do get that feeling that these 'Queenslander" homes are more popular and therefore preferred by tenants.  Hmm….

The other thing I really need to understand is how I would maintain a DSR to be 80% if I take out a loan of 90% (paying mortgage insurance of say 2%) of the purchase price.  I read in Steve's book that maintaining a DSR of 80% is ideal but if I wanted to build a portfolio of say 5 houses within the next 5 years, would it be a bad idea to start…[Read more]

Thank you all for your valuable advice. So LMI isn't so bad after all…  As a first timer I was told to avoid it at all costs.

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<!– /* Font Definitions */ @font-face {font-family:Helv; panose-1:2 11 6 4 2 2 2 3 2 4; mso-font-alt:Arial; mso-font-charset:0; mso-generic-font-family:swiss; mso-font-format:other; mso-font-pitch:variable; mso-font-signature:3 0 0 0 1 0;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {mso-style-parent:"";…[Read more]