Hi, I bought that book in the airport & read the bulk of it on the plane, on my way to Auckland to arrange refinancing to fund my devt project in Australia. Sounds complicated but just to confirm that this book is almost like gospel to me. It describes my position so accurately.

I found the 1st book last Christmas after dire warnings about the…[Read more]

Hi, the one in Wallaroo is already operational. Copper Cove was up & running when I was there 2 years ago.

Here in Adelaide, there’s a marina at Glenelg attached to the Holdfast Bay devt., one at North Haven and I think the Westlakes marina also qualifies.

My property manager used to moor his yacht at Port River, Port Adelaide and he told me…[Read more]

Hi again Sharon, I’ve reread your last post & here’s some specific info if you wish to act on it.

Westpac was quite aggressive about SGD loans in 2004. Citibank also offered SGD loans. You can go directly to Westpac in Suntec city. Do you know that they have {they had when I was there} rooms specifically labelled “Sydney”, “Melbourne”,…[Read more]

Hi Sharon, hope you’re still reading this thread.

I’ve done some numbers on SGD loans. Works well particularly if you already own a house that has excess equity . I did that when I started out in 1998-99. Alternatively, if you have income/cash, an offset account is the latest smart move.

The reason is that you can also borrow off your Australian…[Read more]

Hi, I’m looking for someone to help me either renovate or redevelop a property at Clapham.

I don’t know a hammer from a nail but I’ve a sub-division out at Taperoo that’s nearing completion, another one at Blair Athol that’s been submitted to council.

The one at Clapham is where I live. The house across the road sold last week for $318000. It…[Read more]

Hi,
I’ve been meaning to ask Michael whether he does anything outside of Melbourne.

Sean, property devt is far harder than a homeowner understands it to be.

I bought an old shophouse sitting on R-zoning to redevelop into 4 courtyard homes. The price was good – $260000. I had initial quotes for building which was at $95000 per house. I was told…[Read more]

Hi, I know this thread is old but I hope you consider this.

My project has almost the same numbers as yours: purchase price = $260000

Demolition cost – $10550 incl GST

Building cost = fixed price quote in 2005 = $420000 approx

Here is the catch. The “variations” [the builder got the engineers to do the footings cost – $42000 above first run…[Read more]

Hi, I’m one of the idiots who just did it without knowing what I was doing.

If I had done more due diligence, I wouldn’t have started.

The slabs have been finished for the latest 4 houses I’m building, the costs have soared 25 %. I must have been out of my mind, what the heck do I know about building?

Fortunately in this case, my overall…[Read more]

Hi, I was resident in Australia for 2 years before I upped & left for Singapore. Before I left, I bought 2 houses & left them with a manager. Then I bought a couple more.

What you can do is buy something on an SGD loan & pay it off your SGD income. That will make your investment cashflow +ve. FYI, I was offered 1.8% interest on my own home which…[Read more]

Hi, I’ve also been considering seminars. However, I’m uncertain as to what I can gain.

The reason I’m looking into it is to boost my confidence. I was going to sign up for Steve’s RESULTS program but I couldn’t make payment because I don’t use a credit card, believe it or not! Then it lapsed.

Like you, I’d have to travel to Melbourne or Sydney &…[Read more]

Hi 618,
I live in Adelaide & had been trying to look for people who invest in property to have informal discussions.

I bought a few houses from 1999 & am currently involved in a couple of sub-divisions. If I’d known how hard it’d be, I’d probably not have started.

If you’re interested in talking to me, please send me an…[Read more]

Hi, the price sounds really good. I’ve a roof that needs replacing & the quote is 23 thousand. Mine is likely a larger area than yours but still? I’d estimate my roof to be about 200m2.

Asbestos removal costs a few thousand more to remove. I paid 4 thousand above original estimate. Don’t know how it was done. By the time I came back from…[Read more]

Hi,
I was in the same situation a few years ago but I was not on this forum then. Even my accountant didn’t know about the 7 year rule until I got the info through an accidental free tax seminar. It cost me thousands of dollars wasted through unnecessary tax.

You have to establish that the property is indeed your PPOR. I used my driver’s licence…[Read more]

Hi all, happy New Year!
I once asked “Who wants to be a landlord?” Buy IP & get 2.5% yield? Plus all the hassles?

Rents in Adelaide (really) are as follows:

4 BR AVJennings home in Reynella in 1999 – 2003 = $175 pw
Currently? I’d guess $230 – $240 pw [maybe $250 if you’re lucky]
That’s $80 increase pw in 7 years. In 1999, there was no land tax,…[Read more]

Hi,
Getting an Australian PR offers both options of living in Australia whilst retaining ethnic citizenship.

It involves wanting to live in Australia & is not too difficult under the skilled migrant intake scheme. Took me about 3 months & I applied from overseas.

Since then, I’ve bought a number of investment properties & have retained my…[Read more]

Hi, I was told it’s from building which probably means completion.
I’m not totally sure about this but my accountant had been murmuring about it.

Raises some issues:
1) what do you do in the intervening months? Rent?
2) GST will still apply. In which case, why not wait out the 5 years & not have to pay GST?

Will surely appreciate it if anyone…[Read more]

Hi, thanks all for sharing. Great topic. Good to review progress.

My year’s been SLOW. Finally, demolition’s completed. 2 weeks later, I see 2 piles of dirt on the site.

I was very bothered at first but then I decided to let it ride. The delay costs me plenty but median prices go up very fast because of nearby developments.

Interest rate hikes…[Read more]

Hi, same thing’s happening to me. One and a half years down the track, finally the demolition’s done. Costs are 20% more than initially estimated.

Site works cost $75000 in my case. But spread over 4 homes, it’s not so bad. This doesn’t include landscaping.

I tried throwing a major tantrum & it worked! Prices came down $20K right away.

I’m…[Read more]

Hi, I’ve spent the largest part of my working life in Singapore & am familiar with both countries’ laws etc.

About the easiest way to get +ve cashflow from property investing is to get a SGD loan at approx 2% interest on a new house or shop returning 5% or more in yield.

One way is to build on a sub-division (I'[m currently doing this even…[Read more]

Hi Paul, I was reading your numbers again. You’re saving an impressive amount of money in % terms. A young man who’d walk to the end of the earth with me was like you. He was 24. He came to me and said, “I’d work for no pay if you teach me how to invest.” I’m not like Kiyosaki’s rich dad. I didn’t have the heart to exploit him. I paid him 25000 a…[Read more]