If you're paying 3% why not use a Buyers' Agent who has a contractual obligation to you. Almost every single project marketers does get a kick back from the builder and a “marketing fee” from the developer. Which is not a “sales commission” so they don’t have to always disclose it. Alternatively, they have a put/call option on the land – so…[Read more]

allawah wrote:
How to 'structure the finance correctly'? What are the choices? I'm going to see a lender from our bank because they mentioned that we can use our equity to invest in units. I'm not sure if our meeting will be helpful to our current situation but I thought it's worth going to know more about property investments.

1. You will…[Read more]

Hi Buick, Your strategy will depend on heaps of different factors which include: – Your time line – Your level of involvement – What you WANT to do. – CF or CG – Level of risk tolerance – Flexibility – Tax implications – Fin implications – ETC ETC ETC… I can only talk in general terms because this may all change due to aforementioned factors. M…[Read more]

Hi Emma,I know of a good accountant. Let me know if you're still looking. Kent

Any reason why you want an apartment? If you have an OTP apartment as your only option, here is my advice: Personally, I would contact the developers direct and ask for cash back at settlement. Avoid going to a project marketer and DON’T pay the list price. Look for a project that is unique and not just a box. When I say unique, it must have g…[Read more]

It depends on your strata agreement. If you need unanimous support to redevelop your building or change the agreement then the developer has found a huge loop hole in your system – not the system because all strata agreements are different. However, it can go to court, but there is cost and no guarantee that you will win.

Australia is huge, any idea as to what state you will be living in? Possibly look to your qualifications and then aim for a state that would have job opportunities. Then find the nice place within that state.

It depends, you can get loans up to 95% + LMI (Lenders Mortgage Insurance) of the value of the house, which means on a $450k property you will need about $22,500 + costs (duties, legal and other)  Rule of thumb, costs are about 5% purchase price. To avoid LMI costs you need to get a loan lower than 85% (some banks) or 80% all. So on a $450k p…[Read more]

Despite the ethical implications of why you would want to be artificially increasing the property’s value, there are many other practical problems.Firstly your idea is quite common in Commercial Property transactions with unscrupulous vendors and uneducated buyers. The method used to calculate commercial property is the, income capitalization m…[Read more]

In WA you need a Triennial Certificate and a Management Agreement. That is pretty standard Australia wide (but they may be called something different). Personally, I would say for a couple of thousand dollars commission it wouldn't be worth it. Legally or illegally.  

Hi Pasineil, Within that budget the following would be possible within the Rossmoyne SHS Zone: 3 bed 1bath – full block very basic home3 bed 1 bath + bath 1 extension (super lucky) very basic home3 bed 2 bath half block, but more modern home The only caveat I put on this is that because these opportunities for option (1 and 2) don’t come up too of…[Read more]

Hi Caleb,That's horrible to hear about the accident. If you would like, I would be more than happy to meet up for a coffee and give you some direction and more importantly answer all your questions, no cost. We don't sell property, so you don't have to be worried about being sold an IP.I'll even chuck my recommendations into planning report for…[Read more]

There is no question it is a great idea.However, to pitch this idea to the next tenant is more of the question and that is why I would strongly advise against it. The day that the say owners can bill tenants’ commercial rates for electricity is the only day I would consider putting up solar panels on a rental property’s roof or when green rat…[Read more]

Looks great Jamie! I like your work, I'm sure if loans don't work out for ya, reno will.

It starts to get into a little grey area. It depends if the mentoring helps you acquire one particular future property or it provides you with the knowledge to help with your current portfolio. We run a mentoring program and we split the invoice in two. The first invoice is for the education component (notes, courses and books). This is separate…[Read more]

Hi Mech,A good clause, would have been written by a solicitor you pay rather then the selling agent. It should cover the following areas but not limited to:–          the inspection to be done –          the time frame–          what is considered “okay”–          who determines this–          dispute resolution–          how you notify the agent– …[Read more]

I think the question "how long it has been on the market?" is good, but only when it is preceded and followed with a litany of other questions."Has there been any other paper offers?" as well as "why do you think the property hasn't sold?" are good ones to see an agent cringe over. Let's be honest the agent never wants to say "I suck" or…[Read more]

It depends on the block, if it is a really standard site you could could use a spec home (cheapest turn key). However, the cost comes in to spec homes when you change anything – so be comfy before you build. Other then that if the site is a little bit more complicated, I know of a building broker who can organise plans and tender out to multiple…[Read more]

If you're buying a property I would recommend an electrical report, about $200, as it has come to our attention that even new recently installed smoke detectors and RCDs haven’t been installed correctly.Basically, the selling agent just calls around for the cheapest quote and because of the cheap price the sparky sends his apprentice out to do t…[Read more]

You can't wrap property under the NCCP unless you have a licence and adhere to responsible lending. There could be an exemption if you aren’t doing it commercially – like it’s a one off.  However, you could look into rent to buy, there was a recent post on here which suggested that ASIC too was targeting a lease option scheme (when selling…[Read more]