Cattleya, very good advice regarding doing your own research regarding any investment. In regards to my post, I can only refer to my experience with how the developer I invest with works, which is very different to what you’ve guessed. To simplify how he works, an investor loans him “X” amount at “Y% p.a” interest rate, with capital and interest…[Read more]

Hi David,

Steves’ fund? Can you elaborate please?

cheers
Pete

Hi Sue,

Very sorry to hear about your current situation, but you’re being proactive about things which is a great start. If I may I’d like to offer an idea/suggestion that may (or may not) appeal to you. Although I’ve been investing in property for 15 years I am fairly new to this forum so I don’t know if this option is familiar with other…[Read more]

Hi Ben,

In regards to Steves’ book I’ve wondered the same thing in regards to buying so many properties in such a short period of time. I must admit it was a number of years ago now that I read it so much of it I don’t remember, but I will say that times were different years ago. I bought my first ever property in 2001, a 2 bedroom freestanding…[Read more]

My IPs are in Adelaide, and over the years have experienced varying levels of both fees and service. In SA 8.8%(GST inc.) seems to be the typical charge that I’ve seen. I’ve paid 11% before, but it was the agency that charged this premium rate where I received the worst service.

The biggest issues I’ve come across with Property Management…[Read more]

Hi Benny, thanks for your thoughts on this.

Some answers to your post….

1.If there is CGT to pay if I sold, it should be minimal. On the advice of my accountant, I had the house valued when I moved out. The house next door which is essentially a mirror image of mine sold not long after I left for a figure that’s (as an estimate) maybe $20k…[Read more]

Hi Ben,

I don’t think there’s ever a bad time to invest in property, but I think one of the first things you need to ask yourself before putting yourself into a highly geared position is regarding your financial position and job security. Including the family home I own 3 properties, all with an LVR of 80% so I myself am highly geared. I’m more…[Read more]

This sounds like something I have done myself called an “Assignment of Contract”. After construction began on my last IP, I saw the opportunity to make some money onselling land in the Estate my IP was being built in due to the high level of demand (10 registered buyers per available block) and long settlement times. I successfully got my hands…[Read more]

I’m certainly no expert in the area of property development but $100k just to manage the project sounds absolutely ridiculous to me. Have you enquired with any building companies themselves? I know that here in Adelaide I see some of the larger project home builders even advertise on t.v that if you want to develop your property they can assist…[Read more]

Learn, learn, and learn. That’s how I got started, there’s so much reading material out there and it’s free (if you go to the library) or a very small outlay if you buy the books etc yourself. I prefer to buy books so they’re on hand if I ever want to reference something on the spot.

In my opinion, you don’t need to spend thousands of dollars…[Read more]

Thanks for the info Corey, I’ll keep it in mind while I’m deciding what to do.

Pete

Thanks for the insight on that Terrryw. My barrister didn’t go into any great detail about giving away assets pre-death, given that my mother was already deceased it was pointless, but you’ve given me food for thought regarding the issues likely to arise when my father and stepmother pass on. You can’t pick your family as they say!

I know the laws in each state may be different (I’m in South Australia), but speaking from my own experience when my mother passed away and one of my siblings contested the estate, giving away an asset to a beneficiary before you die is the only way to make that gift “set in concrete”. Who’s left what in a will can be disregarded by a judge if a…[Read more]