crashy wrote:
I agree that there are those who walk the walk and those who only talk the talk. you have to admire those who have built a large portfolio and dont mind sharing how they did it.making money is easy. keeping it is the hard part.I talked to a guy who had $3m worth of property leading into the early 90's recession.  he explained how…[Read more]

The mindset that to have lots of debt is bad, is the mindset of a saver. Nothing wrong with being a saver, but it's been proved that saving money will not make you money over time after you include the erosion of capital through inflation and tax on interest earned. It's a very slow way to get rich, and not that safe or tax effective when…[Read more]

Scamp wrote:
the bottom is hard to predict, but the start of it is quite easy. All the fundamentals have been laid around Australia. Now, all is needed is a lighter to light up the fuel.That is coming in September 2009. Yep.. only 1 month left Mind you, it might take a while to light this incredible pile of crap. It could take 6 months before…[Read more]

Scamp wrote:
bah I can't edit my post. September 2008 ofcourse…

What's going to happen in September?

We pulled out a kitchen in one of our IP's.Left only the floor and the walls.Generally, everything is attached to the walls, so a small crow bar, grinder, screwdrivers saws etc.Try not to put holes in the plaster if you can avoid it.

ummester wrote:

Qlds007 wrote:
C but it not about the numbers.

What's it about then?

It's about nett worth and cashflow.We're B

If you are a handyman, have the tools and more importantly; the time – then I'd consider it. Especially if you live close by.Personally, we don't manage any of ours (even our own PPoR which is now an IP and only 1 mile away) as all our others are a fair distance away, but I also don't want the hassle. I'd rather pay the 6 or 8% etc – it's tax…[Read more]

The dog may or may not be the real reason. You will never know.In Vic, if the landlord have it written on the lease (and even if they don't possibly) that the property is their PPoR , they can return anytime as long as they give the tenant 90 days notice. It's in the Tenancy Act. Ask the PM.In future, if you want a pet after signing a lease that…[Read more]

You could do a Bunnings kitchen, or ring a few kitchen companies.Either way, they will all have to come and measure.My brother did his own flat pack (not Ikea though) and it looks great, but he is pretty handy and has good tools. It took him a while – w'ends only.

If there is a rental guarantee, then what you are buying is a unit with the rent built into the asking price, which means you are paying too much, and when the rent guarantee runs out, you will probably get a lot less rent on the open market.Don't forget; 20% of your rent is eaten up by holding costs such as rates, insurances, management, body…[Read more]

Have to agree with the above two posts.If I was going to pick either one, it would be no.2 – no pool and higher depreciation.But the cost of finance at the moment is around 9%, and your ESTIMATED rent on no.2 will be 5.3% – ASSUMING you can get it for $370k and purchase costs of 5% are factored in.Even with the depreciation deductions, you will…[Read more]

Just keep on the solicitor's and the bank's back to get things done.Call them daily if you have to to get updates and give instructions.You want to get the finance approved and formally signed loan contracts etc done asap.

coon82 wrote:
HiI have been actively viewing this website for about a year now, but this is my first post.  About 4 yrs ago my partner and I built a house off the plan and still reside in it.  It is our first house.  I'm not looking to move any time soon but am curious as to what people think about this topic.  A number of people I know (inc…[Read more]

The deposit amount is whatever you can negotiate. The agent will try for 10%, and then hit you with a Section 17 (I think it's that) to get an early release of the deposit so they can get their commission.I have bought a few times using only $1,000 deposit.Agent wasn't happy, but the Vendor didn't seem to care.

Scamp wrote:
http://www.news.com.au/business/money/story/0,25479,23961580-5013951,00.htmlRead the comments. 114 comments. 2 comments say "yes, they're right, house prices will go up"112 comments say "what a load of bullshit, houses will go down, everyone knows that"That's about how the market is divided now. 99% of the people know the market is…[Read more]

Scamp wrote:
It's a shame that property investors gone wrong never bother posting here, it would certainly fire up the discussion. I'm not going to elaborate on why the property market is crashing, suffice to say that it will crash much harder and faster than anyone expected ( well.. except perhaps me ), and don't expect a minimal 10% or 20%…[Read more]

So, you "like" this apartment, do you?What about the investment aspect of it? Before you start to look at ways to finance it, make sure it is a good investment.If it is in the CBD, are you aware of the probable level of neg cashflow from it? Are you aware that 20% of the rent will be swallowed up in holding costs? Can you service the…[Read more]

If your current property is worth $300k, your useable equity is 80% of this = $240k.This means the banks will let you access 80% of the property's value for more investing, less any existing loans, and this is subject to loan serviceability.You currently owe $264k on it, plus another $15k on the car.No Bank will lend you any money right now, as…[Read more]

Politically correct way of saying don't lend money to family members – especially the ones who are hopeless with money.

Scamp wrote:
Peaknik : I agree 100% with your post. Great advice.

Amazing how Peaknik can come in a first-time poster, and agree 100% with your point of view, on exactly the topic you wish to push, Scamp. Very fortunate for you.Most first-time posters come in with some pertinent questions about how to move forward with their PROPERTY…[Read more]