Didn't the banks recently cut broker commissions by around 40%?? That's gotta hurt!! I have been stuffed around by so many inexperienced brokers. I really think they should be forced to do a degree or at very least a TAFE course over a couple years so they're not potentially ruining a person's finances through lack of…[Read more]

I'm still shopping for demolition prices. I haven't made up my mind which way I'm going with the demo crews. They all have different things they want (ie some want salvage rights, some say take what you want first and get rid of it yourself before they get there) I am still working that bit out.I have to have the house demolished before the new t…[Read more]

I'm VERY pleased to say that on the 20th February I received a formal letter from the council saying the application to create a new title is now approved. It has some conditions attached – but nothing I wasn't prepared for.Settlement is in 2 weeks and I'm ecstatic. I've arranged for a demolition company to pull down the old crusty house (one…[Read more]

I know the planning officer in that council area. I went to school with him Lisa! (noobie)

Christies Beach – south of Adelaide

No. the guy said that Trans Adelaide would move the actual stop for us. That's the good news.The bad news is the Onkaparinga Council are in charge of the shelters they put near the stops. I have to pay half the costs of moving the shelter – which wasn't approved to be moved. So the stop is now further down the road. But the shelter is in front o…[Read more]

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May I ask which areas you have invested and get good yields in Adelaide as mentioned above. I just cam back from Adelaide for a holiday and driving from the airport to my friends place, the streets were very empty, could be that it is the xmas break.

I have two in Morphett Vale, two in Huntfield Heights, one in Woodcroft and one in…[Read more]

I guess I'll go buy some adult-sized pull-up nappies to use for the next couple of months, hey!So far the council has been really helpful/suggestive. Let's see what happens as time goes on.(only one nappy used today – when the planning guy told me I can't move a bus-stop to make room for a second driveway access to the road. Then he said "Oh wait.…[Read more]

I only invest in Adelaide – yet I was originally from Brisbane. I'm still learning, but I currently have 6.The way I saw it was easy – I bought 2 units for the same price as 1 unit cost in Brisbane. But the rent is 1 1/2 times more than I would have received on that same cost if I'd bought in Brisbane.So I'm out of pocket the same amount of money…[Read more]

Oh good point!!I do have an offset account set up against the loan on my PPoR. I can arrange to have all income and all rents going into this and I see the point of reducing the payments on this property first as there's no tax advantage to me having this one high.I will ring the bank now (and the rental agent) and switch the payments around.…[Read more]

I'm in Adelaide, emmajames. I'm not married and I have no kids. Just a single girl having fun. I live alone with my dog and my cat, which is how I have the spare time to work a business and a part time job.My boyfriend invests now as well, but our projects stay completely separate. He's just got the investing bug from me (it's contagious). He's b…[Read more]

Mortgage Hunter wrote:
All your spare income could be going into your own PPOR to reduce this debt. I also reckon you should spend an hour on the phone with Richard Taylor and see what he can suggest for you.  He may well come up with some significant improvements to your situation.

I did this – well kind of. I emailed him privately and gave h…[Read more]

I'm a noobie at this and I'm in adelaide too. I've got 5 CF+ properties around outlying areas of Adelaide now and the rates and bills for the properties is weird to keep up with sometimes.At the advice of my accountant and the lending guy at my bank, I personally put an offset account alongside the biggest debt I have, then put all the rent each m…[Read more]

You've all been so helpful and supportive. Thank you I've decided to take a multi-phase approach, based on everything everyone has posted and also on other research I've done.1) I've switched all loans over to IO. All rent goes into my LOC, reducing that nicely. IO payments for the investment loans comes out once a month. The profit stays in the…[Read more]

So I went and did my financials for the last 2 years. I've been underestimating my income! Who knew.  But I didn't have cashflow or servicing problems, so it really didn't change anything except now I can borrow more than 80% of the values.The guy at the bank tells me I have to pay mortgage insurance if I go over 80%, but now I have access to…[Read more]

Vesson wrote:
I have no specific advice for you, but to be frank I don't think you should 'give up' and work harder. Working hard will get you nowhere fast. I think you should continue what you're doing (ie trying to get more property now) & read more, or invest more money in your education (seminars, courses). <snip> or look into setting up a…[Read more]

Thanks for the tips blueheeler. I rang two other banks today, plus two local broker houses. They all told me the same thing  – either I need more equity or I have to find deposits or I have to put up with higher interest rates to get more money out. Not happy with either suggestion and still stuck and confused.I rang a real estate agent who's be…[Read more]

Thanks heaps v8ghia. And thanks for the congratulations. You're the only person thats said that. My family think I'm insane   I rang a different wankpac … um … westpac branch and spoke with a different lending lady than my usual guy. She said i could maybe go up to 82% with no mortgage insurance to pay (at least that's what i think she mean…[Read more]

I don't have servicing problems. And they're not cross-collateralised as a whole – just some. Cash flow is just fine. I'm with Westpac. They offered me a 0.7% discount on my loans but I can only go to 80% loans on the values of each house because I don't have any financials to show them. They won't let me borrow any more because that would take…[Read more]