Hi vinaysaliaHave a look at the following link;http://www.consumer.vic.gov.au/CA256EB5000644CE/page/Buying+and+selling+property-Buying+property-Buying+property+at+auction?OpenDocument&1=50-Buying+and+selling+property~&2=020-Buying+property~&3=020-Buying+property+at+auction~Should provide some good information on auctions for you.Most important…[Read more]

MrsC wrote:
The thing im actually peeved about is we told our sales agent that we had a couple of lights that have never worked since we moved in and all he said was 'oh you will just have to get those fixed'We could have written those into contract as not working!!

Other option, if you were not prepared to 'just get those fixed'  the agent c…[Read more]

goldies wrote:
The thing that bothers me is that the agent is probably lying about the offer to make me submit an offer of $182k or so when they probably havent got an offer of $170k.

In NSW, if the agent in question cannot prove that he recieved a genuine offer for $180k, then it would be considered false advertising and illegal.

Hi MaybanIn concept, your strategy would work…    only word of caution would be living in a house under renovations for 6 months could be a rough experience at times.Other comment would be in six months time, rather than selling your property and paying all the associated exit costs, simply re-finance and use the equity to go again…

Un-ethical – Yes.    illegal – Not sure.As long as they have had a genuine offer made, then the marketing campain is based on fact.Until the property has exchanged, they are legally obliged to submit all offers the vendor. (Nobody likes being gazumped, but it is legal).The other thing to consider is that the offer may have not been accepted by th…[Read more]

Mate.I don't think there is any hard and fast rule to calculate what rent to charge…    properties in the CBD will provide a vastly different rental return when compared to properties in mining towns.  If you intend to buy a property, either ask the agent for a rental valuation (if the sales agent gives you a verbal, knock off a few bucks as th…[Read more]

Mate'http://www.somersoft.com.au/The Somersoft PIA software is great for both CF+ and CF- property.Also has all the formulas required for NRAS housing etc if that is of interest. 

Hi CellphoneResidex offer a report a Best Rent Report which lists 100 suburbs with a predicted return of at least 10% p.a.   5% rental return and 5% capital growth. http://www.residex.com.au/index.php?content=positive&from=lhsmenu

Hi Wealth4LifeTo clarify some of my questions…   i understand the current rules and regualtions around SMSF.My questions were more so based around the concept of 'what if as property investors we could write the rules ?'What would we propose differently to what is currently in place, and what effect (good or bad) would that have on the e…[Read more]

So, a couple open questions;1) What would be the effect if the rules were changed to allow people to buy their PPOR using their super fund ?2) To allow the above to occur, would we need to allow people to borrow 80 or 90% LVR as opposed to the current 50% ?3) Should the available limit for a PPOR purchased through super be capped at say $500 K.…[Read more]

Although i do agree that there are a number of problems with the proposed idea, rather than shooting the idea down point blank, in the interest of a healthy forum discussion why don't we entertain the idea ??Personally, i think it is kind of nice to have a topic running that isn't the classic, i have my PPOR with X amount and want to buy an IP fo…[Read more]

Hi DarivoTo get the loan on the Investment Property you would need to have some form of deposit. Usually 5 – 10 % deposit with Loan Mortgage Insurance or 20 % deposit to avoid Loan Mortgage insurance.Unless you have the cash available from the sale of shares etc you can use some of the available equity from your PPOR loan as the deposit for your…[Read more]

Hi YuvarajStraight up, i havn't seen any specific numbers on Blacktown, but i did have a look at a few places with my brother early this year. (He was simply looking for a PPOR around $250K…)My overall thoughts are that the 'stigma' once attached to Blacktown is beginning to fade. There has been some very nice unit blocks built that are well pr…[Read more]

This is one strategy that Michael Yardney makes a lot of references to…As referenced by Terry, the 'concept' may be a lot easier than the 'application'.

Hi WannabeIn regards to your situation, i did the share housing thing for about 10 years and by the end of it, was ready to do just about anything to get a place on my own, so i can understand where your at…   Living in Western Sydney, if you were willing to downscale your accommodation, you can rent a one bed granny flat for maybe $180 p/w…[Read more]

Hi Jimmy JDoes it really matter if they are receiving 'kickbacks' ( i prefer the term financial remuneration) for providing a service ?Eg. A) Intellectual Property – they are proving a short list / recommended list of qualified tradesman who can complete the required work.  Project Management – They are responsible for overseeing the work and…[Read more]

There is basically four ways to make it to the top of the corperate ladder;1) Work your way there over twenty or thirty years. (Possible for yesterday's generation, but not so much today).2) Spend X number of years at uni getting a piece of paper…   and then spend a bunch more years working your way up the chain.3) Start the company from sc…[Read more]

Hi RomeopUntil the cooling off period expires, you haven't actually bought the property…   what you have, is a contractual 'option to purchase' the property.As such, you can make a financially revised offer which will allow for the repairs to be completed, or alternatively, request that the required work be completed prior to settlement.You w…[Read more]

JacM wrote:
Hi Eddie,Is it an option for you to live in it for a while in order to qualify for the First Home Owner Grant?  I believe you'd also get stamp duty exemption which would be a help.

Hi JacMI think this is a great option for a lot of people to get started…  (certainly how i purchased my first place).Around Sydney, i would also c…[Read more]

Hi EddieCongrats on pulling together more importantly holding onto your 20K deposit.You will hear a bunch of different approaches to both building wealth and property strategies in general.In regards to what you should read…   anything and everything !!!Steve McKnights books are really good if you want CF+ property, Michael Yardney is good if y…[Read more]