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I would play it safe and stick to Aussie lenders, sure our interest rates go up and down but the strength of the Aussie economy I trust.
I agree with duckster an offset account is the way to go. I have an offset acount set up and use it to manage funds for my entire portfolio. You only need one. You dont have to pay high premiums for a feature like this either, a loan I have is at 6.89% with an offset account.
I had it done last year in Thailand.. they are very advanced there and so far my sight is perfect.. only cost $1,800 (plus travel). Heres their website http://www.laservisionthai.com
Interesting article thanks for posting it
People have been suggesting a bubble burst since I can remember and so far I haven't seen it happen. Property just keeps on keeping on. I think that the recent economic downturn was a good test for our Aussie property market. I will keep investing thats for sure and QLD is definately where I am focused.
I would go another investment property and rent somewhere to live.. and the max price will depending on available equity for funds and your servicing capacity. In fact if you buy well i.e. pos geared in a good growth area you will maximise your servicing and do really well.
" why people would buy a negative geared property when I can get the same tax benefits from a positive geared property. Then a tax expert sat me down and went over it all and it started to make some sense. (Not much but some) So I set out to find the best of both worlds and have now found it. it is called NRAS and some of you may have heard of it and gotten a bit scared but all the rules have now changed and it is an absolute pearler!!! I have the ability to negative gear the property whilst making up to $260 per week positive cash flow for an investment of only $590k. Even better the bank funds it !!! "
>>>>> NRAS has evolved and I will post a new thread about this shortly. Banks are changing lending policies on a weekly basis nowadays and finance is readily available. NRAS is an excellent scheme in my opinion. Heres some info on it http://www.mediafire.com/?emd8ml2igfffldr
I have a pos geared portfolio and am looking into NRAS properties now so I can enjoy growth as well as CF+
Jamie M wrote:Hi WickiI take it Sue means a mortgage broker.
Cheers
Jamie
Hi Jamie yes mortgage broker is what I was referring to…
NRAS is an excellent way to pos gear if you find the right property.
Hi Clint wow that was quick, this thread is so inspiring.
Yes I agree also with buying well and you can. A reno is also worthwhile and I have also set up a share house situation on 2 properties successfully where theres people renting the rooms. I have made the best rent return on these i.e. one of them returns $250 a week cash pos – my Byron Bay property. I have also recently investigated NRAS with some good results. NRAS has come along way since its inception and banks lending policies have changed somewhat. Theres some interesting options out there in this arena at the moment.
NRAS has evolved folks… after a pretty rough start I might add. Heres some good info http://www.mediafire.com/?emd8ml2igfffldr
Avoid CGT? Buy CF+ (yes they exist) and dont sell. Just research well in terms of where you buy so you get a good growth return thats the key.
Good reply xdrew.. I might add a good broker might be worthwhile . I would avoid bank lending managers as most of them are clueless when it comes to growing a portfolio (in my experience) they want to cross secure everyting and sell you everything under the sun. Dont trust them. A good broker with property investing experience themselves is the way to go. Happy to recommend one if you want.
Just reading the posts above, I prefer an offset account to LOC and there are lenders out there with very reasonable rates whose loan products come with an offset acc.. ie one of my properties loans is at 6.89% and I have an offset account with it. I can suggest an excellent mortgage broker who can assist you if you want, email me here.. [email protected]
Heres one of my little CF+ secrets.. eg: one of my own investment properties is a share house, I have one guy in there who runs the show and collects the rent, he gets a reduced rent for his time, he acts as a caretaker so to speak, mow's the lawns as well etc. theres 4 people in the house and 1 in the converted garage and I am $250 a week cash flow positive with it. You just need to pick the right people. I have advertised in local papers as share house, vego, no alch and cigs etc. The kind of people I get are alternative minded with very clean habits. This works well for me.
I did Carly's course and found it very insightful.. I believe education is worth the investment as it adds to your knowledge and can help you prevent expensive mistakes.
Interesting to read through the posts in this thread.. I have built my portfolio on CF+ properties and live and breath this subject. CF+ with potential growth is what I am interested in right now and in the past I have used Ryder's reports to source good areas. Looking forward to following this thread further.
