Thanks IP, information is much appreciated

dank78 wrote:
I have been looking into the whole building a house thing. And with the prices on existing houses that are only a few years old; in my area are about on average $320k.If I build about 35 mins outside of Melbourne it will cost me around $220k including FHOG; with some added extras such as Alfresco and interior extras. So in my mind…[Read more]

Phoenix,My brother is having a horror story right now! He is a novice property investor and has been sweet talked into buying a house and land package of a property spruiker in WA and it is turning sour. All sorts of problems with the contract, valuations, conduct on behalf of the broker etc. have arisen and now my brother is wishing he had never…[Read more]

millyb,3 posts and 2 of them with sales pitches about your 'bargain' properties. Well done. How about contributing something useful instead of advertising?

W4L,Couldn't agree more, now is a great time to pool resources for a common goal. Late last year I bought a block of land on the river in Tweed NSW with 2 of my friends and we currently have plans in council for 12 units. Each one of us has something different to bring to the table in the way of skills, experience, cash flow and equity and could…[Read more]

Great thread and very interesting posts to read. Would i do anything differently? Well, yes. I would be more careful with the advice I was given and realise that just because someone gave you good advice once doesnt mean everything they tell you is gold. Sorry Dad, that ones for you. Great advice on the basics but not so good on the technical…[Read more]

maree_bradross wrote:
sigh – I have to change my tune and eat humble pie Anyway – my changed advice is go through a Property Manager – a good one is worth their weight in gold!

I have had to eat humble pie on numerous ocassions over the years and although the taste is not so sweet it is in fact extremely good for you Save yourself the headache…[Read more]

Pay for an independant valuation

Im in Brisbane and use a company called Rental Express http://www.rentalexpress.com.au and have found them great. If you check out there site they offer free information on Property Managment and Property Investing, thats how I found them. I spoke to probably a dozen different property managers before going with Rental Express and had some really bad…[Read more]

sienna1 wrote:
Me personally no.. i refinance on my properties to purchase other ones , i lock in for my own home but i need the investment homes to be fluid. Great rates though right now….

I too have used the equity in my properties to purchase additional ones and at times those loans have been fixed. I have taken an increase on the original…[Read more]

PosEnterprises wrote:
What I am wishing for is if I can get fix my IP loan at at good rate for 10yrs it would give me a good sleep during the year factor without having to worry about rising rates which kill your cashflow.

I agree totally PE. I have 3 IP loans all variable at the moment and am waiting to see what will happen in the next 2-3…[Read more]

Qlds007 wrote:
Hi thereYes you are correct the insurance will be covered under the Builidng Insurance policy taken out by the Body Corporate.Some lenders may insist that you take out a separate poliy however this is rare these days.On the Disclosure Statement the Vendor has to provide you with information from the BC and the insurance details…[Read more]

Qlds007 wrote:
You need to understand that the Gemworth policy varies from lender to lender so you may still be able to refinance and move forward.Also bear in mind that not all lodoc loans are mortgage insured so that will also help you carry on.

Richard, thanks for the input. It's good to know I may still have some options.

hbbehrendorff wrote:
You might just have to swallow your pride and get a job,  It would be better then loosing all your properties

Yuck