I agree with the others.1. Start looking for another job.2. Talk to your lender. Perhaps they may be able to offer you a "repayment holiday" if you have enough equity in the investment properties?3. Use savings to cover holding costs until you replace your income.

brrmmm wrote:
I'm wondering where I can ascertain information about historical growth figures by suburb.

You can get freebie one suburb at a time from: http://www.myrp.com.au/showProductDetail.do?reportTypeId=1&propertyId=

brrmmm wrote:
Are there websites that I'm missing or do I need to purchase reports. 

You'll probably need to purchase…[Read more]

xpress wrote:
1) Say initially I live in the property and have P&I loan but then 2 years later I decide to rent it out and treat it as an investment property for taxation purposes am I able to refinance the loan to interest only?

Yes. Better in my opinion to do IO from day 1 if you plan to make it into an IP in the future. Park any excess cash…[Read more]

fishmeet wrote:
I need to work out what is most likely to get approval. Do I seek out a local architect, building designer or is there another source of reliable advice?

I would make an appointment with the Town Planner at the local council – he/she will be able to shed some light on your options.

Look there are many different set ups you can have with Buyers Agents. Some charge a joining fee and an annual subscription fee to be informed of properties they find. Some like us just charge a flat fee. Positive cash flow properties can be found in major metro areas like Sydney or regionals like Newcastle….but they are hard to find. If they…[Read more]

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CazzieP wrote:
Assuming we can get council approval what should we know about doing this for rental income?

Which state are you in CazzieP?If in NSW there is good news for you: http://www.planning.nsw.gov.au/plansforaction/pdf/Affordable%20Housing_Fact_Granny%20Flats.pdf

Maybe check out https://www.igrin.com.au/default.aspxI've never used it to lend or borrow but it looks like an option for you perhaps (??)

FordGT18 wrote:
Call me chicken, but there is NO way I'm going up to knock on the front door.

And just one more way Matthew, would be to hire a local buyers agent to do some investigating for you (he/she will have access to same info the real estate selling agents have), advise you of market worth and do the negotiations for you as well.

Operating as a RE agent first will give you a good grounding in the laws as they apply to RE in Australia. It will also allow you to see what happens in the whole "crunch the vendor", "condition the vendor", get the buyer higher" process. Later as a BA you will be able to use all of that experience to get the best deal possible for your buyer…[Read more]

Scott No Mates wrote:
No hills?

No hills – been levelled by the resources boom.

anne1000 wrote:
Hi folks,  What are your thoughts on investing in the Sydney, Wollongong, Newcastle or central coast areas over the next 6 months? Thanks.

Sydney is booming as is Newcastle. Terry Ryder has Newcastle on his hotspot list.The NSW Central picks up the ripple from these places about 6 months afterwards – it has been gaining in the…[Read more]

JimmyJ wrote:
So melbourne and Sydney have been getting great auction clearance rates and some good gains, whilst brisbane has been flat. Anyone know why?

Yes, because although the property market moves in an economic cycle, the various capitals run on a cycle too.When Melbourne & Brisbane were rising in 2007, Sydney was flat-lining.Now Sydney…[Read more]

Tremelo wrote:
1. suburb long term and short term growth percentages.

If you are in NSW or Qld you can buy 3 hours of access time for $19.95 and print out 15 year capital growth on suburbs atwww.streetsales.com.auIf you are in Vic you can get 10 year cap. growth figures on all Vic suburbs for free…[Read more]

dreamtobelieve wrote:
Does anyone have an honest idea of what successful RE agents particularly in Sydney's city and east typically earn?

The "average" REA earns $57Kpa. Good agents earn over $100K and top agents earn $250+K

dreamtobelieve wrote:
Does working on a predominantly commission based income have a detrimental affect on my borrowing…[Read more]

rafael84 wrote:
..Just hope the prices and interest rates dont rise TOO much….

Hope is not a strategy. Buying cheaply, renovating to add value, refinancing to buy more is a strategy. There are many other strategies. Renting & saving is a strategy I suppose. It does not motivate me, I've got to say. How much have you saved so far? and in how…[Read more]

lucigoosey wrote:
But question is "who rents in Dandenong"? Do you get people renting out that far or is it mainly owner occupiers and home owners etc etc

The answer according to rp data is that 49% of households in Dandenong are renting – does that set your mind at ease?

lucigoosey wrote:
Sometimes I wonder why would a family or a couple rent…[Read more]

ajsc79 wrote:
gday propertunity,do you mean 25%-30% profit on the deal including purchase price or just on personal money put in to the deal?

G'day Anthony. I mean 25-30% of  final selling price should be your profit to keep (before tax etc).

You'd generally be trying for a min of 25% and more likely 30% profit margin on the whole deal.

Now you're making me doubt myself. Why don't you give a quick call to the OSR in your state to make sure. (Office State Revenue – these guys administer stamp duty collections)