By the way, I was looking at Pt Pirie a while ago, with +cf. Not sure if its still good. Also Roxby is supposed to be OK. Not sure about longer term though?

I’m not sure what your experiences have been like, or what the demographic is like in Whyalla, but I urge you to get a good property manager if you buy it.

I will share an experience which has cost me about 60-70K in potentially lost capital gain. We bought a 3br semi in Elizabeth Gr in 1999, as a 1st invest property, for 34K. Rented it for…[Read more]

Resiwealth,

Arrogance will get you nowhere. We are here to learn not to be ridiculed.

Hi Michael,

I’m a big fan of Spann as well.

From what I understand there are two ownership types: Joint owners (ie. married couples usually choose this), or tenants in common (ie. business partners).

With tenants in common you can apportion the ownership between the owners, eg. Tenant in common 1 owns 50%, TIC2 owns 25%, TIC owns 25%.

The suggestion in the post was to put in Tenants in…[Read more]

I would love a spa if I was buying a house but I wouldn’t pay extra for it. No one misses what they can’t see, focus on making everything they can see look A1. Good luck, it sounds like you’ve done really well already.

I know what’d I do with the first $1000. If you haven’t already buy yourself a good library of investment books and read them. I reckon question will answer itself for you once you’ve got the financial education.

You have a great head start so you must already be doing something right. I only consider my own experience so far to be called…[Read more]

Answering my own Question relating to changing ownership structure.

According to the SA land titles office it is just a registration fee of $98 per property. I think I better get onto a good R/E accountant to see what the tax consequences are.

Thanks for your input Clive. I will certainly take that on board. I can concentrate some investments in the Mildura area (I live in Adelaide) its only 4-5 hours away and there are two states either side of the river.

Nice one!! Thanks very much. 3 more questions.

Can you change ownership structure without selling to ourselves and paying stamp duty? How did you get around this one?

Can you remember where you learnt this?

Thanks again.

Ok, it looks like SA is copping a worse deal than other states, but it seems that other states are still paying about 2% p.a. on larger property portfolios. This HAS to be CRIPPLING to positive cashflow. I haven’t read any of McKnight’s books yet, but a fari few on the subject of R/E investing.

Does Steve address this in his books? I am…[Read more]

I have lived in a DHA property. I have also looked into investing, but decided against. When I was looking, the prices of DHA properties seemed high compared to comparable houses in the area. I am guessing they are slightly inflated on account of the other advantages of being “hassle free”, they are also relatively new and should allow you to…[Read more]