True low doc loans are virtually almost gone (no financials).I know ANZ will do it at 60% no financials, will even do PAYG lo doc!But most are now requiring BAS statements for last 6-12 months.

Hey Micheal,Sounds like you have a good game plan, I am on a similar path having just purchased, and intend to buy at least 1 every year for the next 20 years!My question to you, why are you planning to sell in 4 years?? You may think you are making a "profit", but you are essentially losing all the future capital growth within that property.…[Read more]

Hey Corey,Well, my thoughts are, to see a broker maybe as soon as you can…. At least they may be able to give you a general direction/goal for your savings, and laying down a game plan…. They will be up to date with lending policies and will therefore have an idea on where you should start (although policies are always changing).I also know…[Read more]

Dave, very inspirational….good on you for making the move here to Aus! Glad to hear you are loving life as it should be.I'd say, get a pre-approval in, to at least know a lender would consider lending you the money, then look for another property to purchase as investment.Worry about setting up a trust when you have a few more properties under…[Read more]

Morning Corey!No dramas, it is always good to get help/advice with a big decision like buying a house!Some brokers charge a brokerage fee, however some actually get paid from the bank….so they wont charge you anything. (my broker doesnt charge).Well, I said the same thing about the credit card. However, as soon as I turned 18, I applied for one…[Read more]

Taryn, 8.8% is quite high.Im south east VIC, and had 6% not long ago. I would negotiate with them, or look for another! Regardless of being regional, 8.8% is high.

Dave!! Do not listen to others! I am 20yrs old, and recently purchased my first IP, despite many who told me not to buy. Or who were critical of my age and said there is no way for me to buy. If others advise against, it is probably them in other words saying they wish they had the same passion!Keep your passion going, as there is money to be made…[Read more]

Joel – fantastic video, my roommate and I just purchased first IP not long ago. Next venture, to buy, reno and sell, make a quick profit and generate some cash flow.We both watched your video, and got a whole lot more motivated again! I am sure many appreciated your upload onto youtube, how great! Did you do alot of research prior? Eg. Location,…[Read more]

Hey Corey,Id suggest to see a broker….Also, if utilising FHOG, you will need to live in it for 6 months within the first 12 months of purchasing. I dont think fhog is available for straight out investment properties, pretty sure you have to live in it for at least 6 months. 20% will be good to put towards, however if you want to avoid the…[Read more]

Wolf!! Thanks for your humour in a time like this! Your words of wisdom has consoled me, I feel a whole weight lifted  from my shoulders! Wait a second, no…when then .45% increase hits again, the weight will be reinforced!!Some breathing space would be nice, damn RBA and damn the big 4! Is it really the first time in history the RBA has gone r…[Read more]

I'd say stick out with variable for next 6-12 months, test the waters…. and maybe look at fixing later on when this rogue rate increasing stops from RBA.

I would probably think it isnt the best decision to fix right now.Most people are getting scared of the rate rises, and majority will now look at fixing….the banks of course, are always two steps ahead…and will adjust fixed rates according to the market trends….So, in saying that….if most people will now start fixing, what do you think the…[Read more]

Hey Denis,Quick peice of advice;We go to doctors for specialised medical advice, right?We go to solictors for specialised legal advice, right?We should go to brokers for specialised financial advice…As Richard said, say you walk into a bank direct, they arent exactly going to refer you to another bank with a much better suited product for…[Read more]

Thanks guys, all your feedback is appreciated. I am sure I will put all your comments to good use. Thank you again!

Good to have a renovating team ready to go;

Valuer (estimated value at time of completion, post reno)
Builder
Architect (to check over the builder)
Financier (finance ready!)

Crucial advisers to have ready. No guesswork with renos, you guess, you may lose. You would rather do your research… buy wholesale, get some expert opinions. If you…[Read more]

Of course!! You are going about it the right way, researching and getting opinions.I dont think you can go wrong inner city, generally attracts the higher rental returns. The fees wont really be too much of an issue, dependent of course on the loan amount you take out vs the rent coming in. (positive/negative gearing) I am also looking at inner…[Read more]

Terry,Are you asking the question to through another spanner in the works, or do you know the answers to that sort of question?What are the tax implications, if Nit was to go with either option…?

Hi K,I appreciate your response there, and in complete agreeance. Dont get me wrong, I am not naive at all when it comes to managing properties by oneself. Many variables coming into play which can make the managing it yourself side very difficult.I guess I am lucky enough to have good tenants. The more properties I acquire, I guess I will learn…[Read more]

Hi K,1 bedder, inner city is certainly in demand, rental shortages are on the increase. No matter what you purchase, it should get snapped up fairly quickly.I think you cant go wrong inner city 1 bedroom (ensuring it has a decent sized bedroom). No niche markets with this purchase, you will attract a large number of tenants, whether it be a…[Read more]

I may take your advice on as well Pos, regarding someone who actually talks the talk. Good to know he has built his own healthy portfolio and has a full understanding of how to plan.When going for advice from a professional, you would like them to have the results you want to obtain yourself. So im assuming this Navra guy would be a good person to…[Read more]