The laws are different in each state.

I believe that only Qld law states that a property is at the risk of the buyer from the date of contract. Most other states require you to insure from date of settlement or possession.

For peace of mind, I suggest insuring from the date the contract goes “unconditional” in states other than Qld. You only end up paying a month or so extra insurance but it avoids any potential major problems prior to settlement if there is a fire or something.

My belief is as follows:

– Sunday does count as a day.

– Sunday would be day 1. Therefore, you have til Tuesday to pull out.

“The claim that he will make people “property millionaires” is also misleading. By this he means they will – if all goes according to plan – own property worth $1 million. But this will not make them millionaires – and it will hardly allow them to retire independently wealthy.”

I do sort of agree with this statement though. I think that the term “property millionaire” is a little sensationalistic.

I think trusts have become the great “buzz” thing in real estate investment of recent times in this forum and others.

I think they really only greatly assist a handfull of investors. I suspect some people are setting up complicated structures because it makes them feel like sophisticated big time investors.

Setting up this way for assett protection purposes is really only of benefit if your principal occupation warrants it (i.e doctor, partner in law firm, self employed) but not if you are a standard paye employee.

No doubt they are suitable for some people but I suspect not the majority of investors.

I live in Moonee Ponds and firmly believe that it, and the surrounding suburbs are the best real estate on the northern and western side of town.

If you want period style houses then look in Moonee Ponds, Ascot Vale, Kensington or alternativley try Yarraville.

For $400 to $500k you should be able to get a decent 3 bedder in those areas.

I’m a personal injury lawyer who represents employers in WorkCover claims.

I wouldn’t say I’m bored but I dont like it much. It is very demanding and the only thing that keeps me there is the money. It is difficult to turn your back on a good wage when you have young children.

I’m hoping that proprty investment will help me to retire from this work earlier than I otherwise would be able to.

The biggest problem is getting the time to put into it.

I agree that fixing rates at the moment seems a good idea.

My tip is that rates will remain the same for several more months before slowly creeping up to around 8-9% in a few years.

But what the hell do I know?

The last thing I would do is rely upon the advice of a telephone clerk at the ATO anyway.

lol!

Edmonton is going well but and is in the growth corridor south of the CBD. Caution is that there is quite a bit of land still available in Edmonton so you will always be competing with new houses.

As a general rule be wary of the suburbs to the immediate west of the CBD in the low lying areas which are subject to flood. Thos suburbs are Mooroobool, Mununda and Moonoora (known as the 3 m’s).