What about negotiating with current lender for extension of IO or extension of loan repayment timeframe? Or negotiate with them for a P and I rate reduction, any of which could reduce the monthly out of pocket to a more acceptable level without major changes. Gives you time to ride the cycle and perhaps sell into a better market in the future. You…[Read more]

I went and heard the pitch last yr as a friend invited me. As far as companies that recommend new House and Land stock go there are worse ones out there. The physical quality of the house will still depend on who builds it. However, the trouble of valuations coming in under the purchase price and very low growth in the first 3 yrs is the main…[Read more]

John did you end up buying anything?

Where are you looking to by @theheath?

Hi @kristop – rental yields vary a lot depending on the price you pay and the rent you achieve. In general you will get more rent for more bedrooms and nicer paint/carpet/cosmetic condition. Plenty of research for you to do before you jump in. Albury is a great town but not the only place to invest either. Are you planning on living in it?

Just saw this old post. How did you go @jasondras80 did you buy something?

Anyway… my observations are that there are huge differences between some country towns and others. You simply can’t generalise them as “good” or “bad”. It’s like asking if buying food from the supermarket will be healthy or not? It depends what you buy.

In general…[Read more]

Just saw this old post. How did you go @jasondras80 did you buy something?

Anyway… my observations are that there are huge differences between some country towns and others. You simply can’t generalise them as “good” or “bad”. It’s like asking if buying food from the supermarket will be healthy or not? It depends what you buy.

In general…[Read more]

Howdy,

The short version is this:

Stay away from spruikers – anyone marketing new off the plan units or House and Land packages that takes a fee froma builder, they are not true BA’s and they are not working for you.
Stay away from anyone not licenced AS A BA.
Stay away from anyone doing both selling and buying.
Stay away from anyone without…[Read more]

I have no idea how the 100% product is linked to a BA service – I would have lots of questions about that (including whether both products were genuine and independent of each other) however I would think that a 90% no LMI product for SMSF purchases would be a game-changer and very popular. I have a lot of SMSF clients who have slowed down or…[Read more]

In short – yes it is likely to be harder to sell at the end also if the BC still applies. The only change would be if the land is subdivided out of the BC area and ends up on its own title later.

Also, check the BC rules and ensure you can actually build what you want before you commit.

For resale estimates, you need to ascertain if there are…[Read more]

very true. the difference between buying the the right area/wrong area is night and day.

keep going and do your research you will gain clarity eventually. In the meantime you might think about mapping your goals, and then choose things that are important to measure. The measurements will help you cut down the big locations list to a shorter…[Read more]

I know you say you grew up there which may help but there are concerns with investing in Wellington. The vacancy rate is 4.6% which is highly concerning and may mean you have long vacancies in between tenants (how do you feel about 2-3 months of paying the mortgage by yourself). Also the town has had a well publicised methamphetamine problem…[Read more]

The last time I looked at IKEA kitchens the backing of the cabinets was a bit thin. Happy with them otherwise but I like to know the cabinets are solid. I choose Bunnings for that one but this was in coastal QLD area and my options were limited. Haven’t checked the cabinet strength of the Kaboodle ones.

How did you go so far @ajg71 Adam? Any progress on narrowing down your areas?

Hi Richard,

Can I ask how you offer loans for SMSF property without the bare trust? If you have private finance I can understand a higher LVR but I thought the bare trust was a legislated requirement because of the LBRA rules? Is that also sidestepped by private finance? If you prefer to respond via private message I understand as I am curious…[Read more]

ok – I agree getting all retaining walls and levels right prior to erecting the fence is a good idea and should help avoid doing it twice. All the best with the approach!

This is true, sometimes better deal is the private vendor in the final few months prior to handing the house over to the mortgagee (if they have equity but are otherwise in financial stress).

Occasionally if unfinished, ugly or requiring work mortgagee properties can pass in at auction (as they didn’t quite hit the sworn valuation figure at…[Read more]

Excellent first post @beas and true life is too short to be mean.

@markb10 so where does this leave you currently? Are you still fenceless?