Cheeky banks, how could they ever be dishonest???

@adriannqld good advice.

Thanks @xenia-alexarealestate I have been here for a while too, another valuable community and a different group on the whole. Steve has had his critics over the years but on the whole I really like his style, methods and ethos too.

Hi @stevehank this is a common issue, it takes a while to get the feel of different data sources, some measure house vs unit, others only the total market, and still others by the bedroom. Personally I have a few paid data sources and I like to check them against each other, not that one is always correct, but the more source points I have the…[Read more]

The big question is what are your goals and does this help you reach them? Each purchase should fit the strategy that should fit your goals.

Region is ok but deal not super inspiring. How many beds is it and how big?

That strata is high, and could go higher if its a big complex, generally if buying in Southport I would buy a small walkup block,…[Read more]

@madison889 Firstly I will just say please consider getting good advice from an independent experienced accountant. This is a specialised area and it is always worth getting good advice it will save you in the long run. My thoughts are potentially worthless but should get you started at least.

Secondly I have no knowledge of how capital gain…[Read more]

If you want a good financial advice company there are plenty that do it well and don’t muddy the waters with property sales commissions. You want to be the one paying them as much as possible, and you want to know they have a track record. Separating the property choice keeps it cleaner. I have discussed mutual clients and heard good reports…[Read more]

^^^ what he said.

Paint is the biggie, then floor coverings, then some street appeal with garden tidy/new mulch etc. Next is a reverse cycle airconditioner. Particularly in more extreme climates and with shift workers this will add rent.

@ilarum unfortunately many come to ask a q but don’t stick around to learn and participate. As you can see above the companies that take commissions for recommending new properties and advertise as financial advisors or investment gurus are in a conflict of interest. Some are in trouble with ATO for a range of blatant problems, others not but…[Read more]

@jonothornely 2 great tips there from @Redwood. There is a huge property spruiking/marketing industry that has a lot of problems to it. In my view it is worse than used car salesman because at least someone selling cars won’t promise the car will make you rich. There are lots of dishonest players, proceed with caution.

Correct @cs_rlewis – having a great team speeds things up and make them easier. Overall it is a balancing act between LVR and DSR. You want growing equity (LVR goes down) and growing income (DSR goes up) if you can balance these two with every purchase you maximise how many you can buy. To further speed things up you add some equity and…[Read more]

One for the accountants and brokers but here is my 2c. The loan purpose is with your bank, this is different from the 6 yr ppor rule which is about your capital gains tax liability with the ATO.

Re the ATO – yes you are allowed to have a ppor, then move out (say away for work like you stated) then rent it out, and as long as you dont buy…[Read more]

@lblanden As you can see even from a few posts above people have very different viewpoints. Personally I am in love with property and it SUITS ME JUST FINE that many folk aren’t. If everyone was into property the competition in the market would be so much fiercer. If you stick something (anything) out for long enough you become better than all…[Read more]

The mining sector as a whole is being hit pretty hard right now. I have been doing ok in mining/resource towns for around 10yrs, and will continue to invest in them at certain points but be very very careful. Unless you have real knowledge about what is being mined and why it will do better than the rest in the next few yrs you are just asking…[Read more]

@leoniey5 they are good aren’t they? Scott for prime minister I say.

Gday @kmu1

The best place to start is with education. Read this forum, plus the other forum property chat dot com dot au, plus any books by Steve McKnight, Jan Somers, Dolf DeRoos. Also regarding general financial literacy the book that has changed more lives than any I know of is Rich Dad Poor Dad by Robert Kiyosaki, that would be a great one…[Read more]

Tied to Iron Ore and any other new major projects. Both are flat at present. Long term it could do well but will require global shift in resource prices to be booming again anytime soon.

As mentioned above it is tough to make the numbers work consistently.

I would see market choice as 1 factor, APRA as a completely separate issue.

On the APRA issue – they haven’t made it harder for people to get PPOR home loans, and for flipping these are your buyers. So no issue there if you appeal to the ppor market. It might be harder for…[Read more]