Missed it by a day…
Jo, can yo call them and see if they will extend to include the Monday….then I can attend..

KP

Cheers Kay

WHOA !!!
How is your interest in the property protected if its in your partners name ??
Do you have an official jv afgreement to protect your interest, or some other documentation….

Regarding your equity position…most banks will lend to 80% of the value of your property, so if your place is worth $550k then 80% will be $440k and if the…[Read more]

Hi Kay,
CAn you detail rent vs purchase price to arrive at your 6%+ yield ?
It doesn’t have to be the property you purchased….just curious how you get your yield.

For my part, I have a place in Perth that rents for $250pw and cost me $205,000 but has a market value of $305,000

That equates to a yield of 6.34% on cost and 4.2% on market…[Read more]

Sounds like you have already contacted the council and determined that the block is suitable for subdivision, so no point contacting them again.

You may want to enquire if they will allow strata title or green title subdivision.

I have done a few of these, but not in Sydney.
The first thing I do is to get a surveyor in to survey the block.

It…[Read more]

Same here.
Just concentrating on the various avenues we use to generate wealth ( equity mate…) from property.
I have not completed a wrap.
But the last transaction I completed effectively made the vendor a wrapper, and it was by my choice.
ie.. I am effectively the wrapee for want of a better word.
Both parties are happy.
I got the property, and…[Read more]

I repeat my earlier comment….its dribble, misinformed, opinionated dribble, at that.

Its not a matter of agrereing or not.

It is more likely for a wrapee to default than for a wrapper to default.

Some wrapees even go back for more after selling their wrapped property for a profit, why ? because they preferred dealing with the wrapper than…[Read more]

Thanks Brenda,
Will keep digging..(out of the hole that is)

KP

What a load of dribble…

If wrapper equates to landlord, and wrapee to tenant, then its the same as saying that a tenant should ask their landlord for proof of payment of the mortgage to ensure that the tenant is protected from being evicted if the landlord defualts, for whatever reason.

Tenant: “As proof of ownership and proof of payment, can…[Read more]

Cal,
The less published and highlighting WA the better.
Keeps the hungry hoard away…which will just create too much competition for you and me.
Make money while the sun shines…forget the lack of publicity.

BTW I just spent a week in Qland…and its definitely a great place to invest…and I will be putting my money where my mouth is starting now…
KP

Hmmmm…
Does $500 pw on a purchase cost of $290k fit the criteria ??
I don’t know, I’m not very good with maths…

KP

If you are interested in wraps, then find a wrap savvy broker. same for the accountant and solicitor. They are out there…you just need to look.
There are four major banks that happily finance lending for wraps.
Try Bank of Queensland, Bank of Adelaide, Homeside (owned by National Bank) and Macquarie Bank.
Also there are insurance companies that…[Read more]

Hi Greg,

Boo Hoo !! still no moderator to add guidance or comments….maybe we should lobby for you to be the moderator….at least you reply to your posts…

Calvin, its a requirement in WA to get a Credit Providers Licence before you can offer vendor finance, but this does not apply in other states.

However, it is illegal to wrap or offer…[Read more]

Thanks Derek and Kay for the responses.

Appreciate your replies.

I was thinking of yield as rent vs market price, hence 3% being more in the order for a capital city.

DD,
So its Brizzy…what a coincidence as we will be there later this week…maybe I will PM you..

KP

Whats wrong with you guys…that first property is awesome !!! Check out the chimney stack…its a classic.
And the one in Stanwell has heaps of potential…asking 68k, what would you get it for ?? closer to 50k…you can’t go wrong.

You guys are way, way too fussy ( and spoilt)

Now where the hell is Victoria ????

Seriously, if you were closer…[Read more]

You’re funny Marc,
Enjoy reading your provocative posts…..

Cheers beers….

Hehehehehehe…that is ssooooo funny !!!

By the way, you got mail……not..

Stirrers unite,
KP

Dear oh Dear, Kay….

I want to invest in your hypothetical city with the 7% yield. Where is it ??

So the strategy is to use your tax refund as a deposit on further property purchases….then if the tax refund was not forthcoming anymore ( neg gearing rules changed by ATO for example,) does that mean you no longer keep acquiring properties…[Read more]

Thanks Derek,
Everything you wrote made sense and is accurate.

I fully agree that the claim of interest and other costs incurred are legitimate expenses involved with owning a rental property, as it is similar to running a business and that you cannot discriminate against an investment property owner vs a business owner.

But consider this: as a…[Read more]

Great advise.
I am in such a situation where we are looking at building on vacant land but titles will not be issued till next year..at least 6 months away.

A lot can happen in the interim ( interest rates changes, current market changes, etc) so it is wise to stop and think and factor in the “worse case secnarios” that can occur before…[Read more]