Bill

Food for thought! Thanks for your comments. It is good to get another point of view on the matter of PI.

You appear to be very knowledgable about investing in many areas. However as a new investor to everything I would be loathe to place even $1000 into the Stock market. I don’t know anything about it and my impression is that you need…[Read more]

I just had a thought with regards to coming up with the $7K for the deposit. It could have been done through a Deposit Bond. We recently did this and a deposit for $19K through the deposit bond company cost us approx $225. We figured it was cheaper than redrawing funds from our PPOR mortgage. Deposit bonds mean that you don’t have to come up…[Read more]

Hi

I’m very new to this site but thought I’d suggest that you approach a mortgage broker and find out exactly what you can borrow.

Then I would start looking on the real estate websites for possible places to buy. Some lenders will lend you more than others. Most mortgage brokers are free for you to use (they usually get paid by the lenders)…[Read more]

Thanks for all your replies.

We can’t get Landlord’s insurance with the house insurance as the IP is a townhouse… the body corporate pays and selects the insurance for all the townhouses in the complex.

The $44 from Barclays does appear to be more like a debt collector. I think I will do a bit of research first. I’ll let you all know if you…[Read more]

Hi Paul

As a newbie I can’t help you there but I just wanted to reply to say “Good on you”. You seem to be motivated, are asking heaps of questions and appear to be on the road to being freeeeee.

Hope it all works out for you.

Mary

Thanks Caddy222 and Erika for your replies. I appreciate it.

Is it your recommendation that if we go with the Insurer that the realestate agent uses ($220 per year) it would be better as they have a relationship and therefore things get done?

Hi all

As you can tell, my name is Mary (34). I’m happily married to Brett (31) for 3.5 years (no kids yet) and am a newbie to this site (less than 1 week).

We live in Inner Sth West Sydney in our PPOR unit. We are about to settle on our first IP which will be slightly -ve geared, in QLD, using the equity from our PPOR.

I purchased Steve’s…[Read more]

Reggie

Re: Ed Burton Seminar

I too am very interested in attending a seminar as I too am new to IPs.

But I would like to go to a seminar with my husband and the Ed Burton seminar will be close to $4k for both of us to attend, so as you can imagine, I need to know that it is VERY worth it.

I did a search of this Forum and noticed that you were…[Read more]

My experience is that Body Corporate Fees tend to vary according to the state the IP is in. QLD for instance has high fees. Our IP at the moment has body corporate fees of $1700 per year. Yet the unit we live in, in Sydney, is only $1100 per year.

Usually if the property has a lift, swimming pool and lots of landscape gardens, as well as…[Read more]

Thanks Terryw
Will talk to accountant about this.

Hi Del

Thanks for the welcome.
I’ll be looking out for next seminar. Can you give me an indication on price?

Mary

Aren’t trusts REALLY expensive to set up and maintain?
I thought of this but my accountant said it was not a good idea. I had only expected to ever invest in one or two properties when I had spoken to him and then I read Steve’s book.
Now my aim is higher but at present only own 2 properties (including the one we live in)… well the bank owns…[Read more]

I would love to attend one of Steve’s seminars. As I am a newbie (but posting lots in the last couple of days) I have no idea of where to begin.

I live in Sydney so does anyone know of any seminars coming up soon?

Perhaps seminars regarding IP should be a permanent part of the website???

Thanks everyone for clearing that up and the suggestions include many that I have not considered. Appreciate it and could use all the help I can get.

I do use a mortgage broker but (this was before reading Steve’s book) suggested to him that I liked the bank I was with and thought it might be easier (and was) going with them again.

But next…[Read more]

Hi Simon

When starting out don’t you need to wait to get your property revaluated? We just purchased our first IP and own (the bank owns most) a unit that we live in, so we have used most of the equity we have. To save 10K in a matter of months looks almost impossible! Any ideas on how we can get back in there in the next couple of months to…[Read more]

Hi Redlilia

Yeah I know! But we purchased a 3 bedroom townhouse and they are not as expensive as houses.

I don’t think you can apply the 11 second rule in this suburb, but I think there may be a few surrounding suburbs where you might be able to make a positive investment if you are lucky.

I think now, as Brisbane becomes more unaffordable,…[Read more]

Dear xyzzy12

Don’t mean to be nosy but as a newcomer both to the Forum and property investing I am curious to know if you have had this apartment in Brisb for long?

Hi.. First time poster.
My husband and I have jsut returned from trip to Brisb and surrounds and have found that even as Sydneysiders (not cashed up) we are priced right out of the 10km radius market.
We looked at Logan City for a negatively geared property (had not read Steve’s book at the time). I think it has potential for positive geared…[Read more]