If serviceability is a bank problem but you are happy to maintain the payments then consider a NODOC loan.

Yeah, don't touch serviced apartments, purpose built student lodgings and most studio apartments.They appear to yield higher to make up for the high fees and lack of CGT.  You also need a much larger deposit as the banks don't like them either.They are targetted at naive investors who think that they have discovered something new.  We have all b…[Read more]

Mortgage Hunter wrote:
I think you would struggle to find a financial advisor who will doi anything but advise you to buy shares.I do recommend this course to people like yourself.  It is exceptionally inexpensive and the best value I have ever had.http://www.navra.com.au/index.asp?content=scheduleNone are listed for Sydney atm but they do have…[Read more]

I think you would struggle to find a financial advisor who will doi anything but advise you to buy shares.I do recommend this course to people like yourself.  It is exceptionally inexpensive and the best value I have ever had.http://www.navra.com.au/index.asp?content=scheduleNone are listed for Sydney atm but they do have them fairly often.  If y…[Read more]

If my Dad was a builder I would be talking to him first.  Explore the possibility of buying land and building a house to sell on it.  If you do this a couple of times you will soon have enough savings to keep one as a pos cashflow rental.  Keep doing this cycle and you could be wealthy by 30!He should be able to build one for you at an at…[Read more]

The price will be whatever the two parties agree for it to be.  There is no set requirement.I personally don't like the idea of half shares.  I would be happier if they could buy it outright.  Perhaps they are happy to have the father subsidise their cost of living but the arrangement you suggest will not help either party if they later want to se…[Read more]

Get a report done anyway.  Firms like http://www.depreciator.com.au have a good guarantee that they will not charge you for the report if it doesn't pay for itself in tax refunds.I believe you can go back four years but this may have changed since I was involved in helping someone backdate them.  Easy enough to find out if you call the ATO or your a…[Read more]

If it is outside of the airspace and "inside paintwork" of your unit then it is the body corporate.You just own the airspace within your four walls – and technically the paint on the inside.  Everything past the coat of paint on your internal boundary walls belongs to the BC.   Technically you need their permission to put a nail into a wall on th…[Read more]

millions wrote:
Simon, is your property vacant over xmas holidays?  Do you advertise the rooms at the uni and manage it yourself?  Do you furnish each room?  Thanks

I take ESL students over summer for about 75% of the normal rent.  I advertise at the uni online and manage myself.  I also advertise on another website for specific students as I…[Read more]

I have a student place.  Five bedder 400m from uni.  Cost me $315K and returns $540pw.Looking at another with even better numbers and better tenant.Ciao

You wont build equity fast.  Except for the fact that lenders will require a higher deposit as they view these as higher risk.The high rent is the trade off mate.  Do a search of this forum and see that many new people look at these and serviced apartments first.  Most end up with straight residential property.Ciao,

Your friend is contemplating fraud.The upside is that if he does voluntarily repay it, and doesn't occupy the house, he will be able to claim it for his next home.

I use Depreciator as well.

Mortgage Hunter wrote:
Being WA it is probably brick. Less material to be salvaged and resold I imagine? I am looking into the same for a timber house. Seems some folks will take them for free or demolish them for scrap as suggested. Cheers, Simon Macks Mortgage Broker http://www.mortgagehunter.com.au 0425 228 985 Comments may not be relevant to…[Read more]

The Contrarian wrote:
Hi Jodie,I would try to consider what INCENTIVES there are for people to live in a unit in Tamworth.I believe the main incentive would be for people to SAVE MONEY.People in Tamworth will not pay top dollar for a "prestigous" unit… NOR will they pay top dollar for "convenience"…If they had the money, they would either:…[Read more]

tammy wrote:
very cute!!!! Did I count correctly? 10 puppies!!!

The vet did an ultrasound and told me to expect four pups.Bit of a surprise when labour finished and left me with ten!  All healthy as was mum.Put an ad up on the trading post for the weekend and sold seven.  I have a little black boy and a very sweet black girl left and a very c…[Read more]

If you want to buy a new PPOR and keep the current one as an IP then you need to stop paying down the Principal.  Get an offset and save in there.  If you keep paying down the current apartment then when you buy your next home you will have a 100% loan against the new place which is nondeductible and all your equity in an IP with a small d…[Read more]

Try NAB.  RAMS rates are a bit high atm and they will probably stay higher until they can source funds at a decent rate again.

Well you wouldn't lose the whole $225K!There are 2 bedders for not much more.  Outside of inner Sydney I believe 2 bedders are always more attractive than single bedrooms units.Always best to do your due diligence thoroughly.Cheers,

I would be seeking independent advice.Perhaps commission a valuation now before it is too late to back out.  Speak to another agent in the area about the value of this place.If you do pull out then you could probably buy a similar unit on the open market without using such a club.Have you checked http://www.realestate.com.au to see what these units…[Read more]