Hi
We have migrated to Aus. in 1988 with $40 in pocket and $4000 debt, two suitcases and two children. I have studied BBus(Acc/Comp) from 89 whilst juggling two children,full time work, new culture, different shifts for hubby and myself…….the whole lot. It was hard, but it helped us save for our first home within 10months of arriving here…[Read more]

Hi all
It is always inspirational to read success stories that anyone could learn from. Here is my share of success story as unwinding.
After having completed conversion of our IP’s and PPOR into student accommodation and put it on autopilot (just watching the bank to see that the money is rolling in), I have gone into it a bit bigger – Joint…[Read more]

Originally posted by Don and Liz:
Hi Padma,

That is something I had not even thought of. What can you buy for Rs.35. Do you need a visa? Well you wouldn’t I suppose but what about people who only have an aussie passport.

Cheers

Hi Liz
Yes you would need a visa, even I do, as I am an aussie now. India is such a vast country and culture wise…[Read more]

Originally posted by Don and Liz:
Hi Chewy,

We would be looking for somewhere warm with a bit of culture and not to many tourist. Oh and a good exchange rate. I now it’s alot to ask but who knows there could be a place out there.

Cheers

Hi
Why not try India?
Warm – Yes
Culture – definitely…oodles of it
Less tourists- may be but many, many…[Read more]

Hi Collie
Congratulations on your first acquisition. Well done. One down, 99 to go atleast. Would love to catch up with you sometime.
Padma

Had a hearty laugh. Thanks
Padma

Robert
To buy subject to DA, do you need to actually apply for a DA in the council or just get their verbal advice whether or not the area in question and the block in particular is likely to be approved for a DA?

Padma

Originally posted by Terryw:

You should also look at maybe setting up a LOC to pay for rental expenses – even interest. This will allow you to pay off your home loan earlier.

How do you that Terry? Could you please explain in detail. I would like to do that if possible.
Thanks
Padma

Hi Det
“Just when you think you’ve got something worked out, someone puts another spin on the idea. I suppose that’s when you have to decide what is best for you.”

BINGO

“I am looking forward to the day that I claim more than just my drycleaning and calculator!”

GOOD LUCK
Cheers
Padma

“Why buy when prices have started falling? Would it not be better to buy when they have finished falling?”

When would that be?
Padma

Det,
At no point in my post was I suggesting to go and buy 10 properties outright. I was merely pointing out how much equity you have and how you are not using it to your advantage. I am saying this with great trepidation, but at the moment seems to me you are making everybody else richer than yourself (taxman etc.,).
As far as living off debt…[Read more]

Hi Det
I think (from what little I know) you are in quite an enviable position. If you paid off your home, have no other debts, have two jobs, two lovely kids – what are you waiting for?
Did you realise with the equity in your home, you can buy atleast 10 average 250K properties around australia. with a bit of research, they could be both +Cf and…[Read more]

HI
I have heard the Betty and butter differently. Here goes
“Betty bought some butter
But the butter was bitter
So Betty bought some better butter
to make the bitter butter better”

thanks
Padma

Hi Carlin
Sorry I could not get back to you earlier. PM me and I will reply soon. apologies, just being busy.
Regards
Padma

Hi Hugo
Why can’t you turn your Fiance’s PPOR into an IP? You don’t need to do anything then. YOu live in a fully paid for house and convert her mortgage into deductible loan. Just a thought
Cheers
Padma

I have 5 girls sharing one bathroom and separate toilet as well. No problems. Have 3 in the other house sharing a Bathroom and a separate toilet.
Master bedroom tenant pays a little bit extra because of the ensuite.
I didnot even bother enquiring with the council. What is class1A and class 1B?
Padma

[teal]Vendors say you could rent each room for $100/wk and thus have income of $400-$700 per week. But does it actually work this way? For example, if you were student 5,6 or 7 (in the 7 bedroom example) would you be that keen to move in with 4 other people? Does any “in-fighting” in the group of 7 lead to people moving out more frequently? If no…[Read more]

Hi Sharon
Make up a flyer highlighting all the positives of your accommodation i.e., how close to all the ameneties like bus stops, train stops, supermarkets, to uni etc., what have you included in the rent along with your contactdetails and give it to the student accommodation services at the uni and they will do the rest. Atleast that’s what…[Read more]

Hi
I have just finished converting 2 houses on the same block, one 4BR and another 6BR for student accommodation, they filled almost a month before they were ready. yes, students want quality accommodation, the neater it is the neater they will maintain.
We have included power,gas, weekly cleaning and internet provision in the rent. they are…[Read more]

Hi
I went through CGU and told them i need landlord insurance for student accommodation house. I wasn’t questioned on number of students and I wasn’t told that it would be a boarding house. I just took normal landlord insurance and also insured the contents in the house. Premiums are in the range of about 500/- pa. It is not true that you need to…[Read more]