I agree with combining a lot of the things said here already:
A) Increase rents over time (may be over a long time thought)
Keep buying more properties to increase the amounts of income you are receiving
c) If you are on a P&I loan then refinance after a few years so your repayments will be less (because the amount you are refinancing is less but…[Read more]

NO, NO CHAT ROOMS, I spend enough time on here anyway. Yes, I know I have a choice to participate or not. Just giving my thougths that’s all.

Ok, I don’t care about the stars as you get to know the regulars and you also soon realise who knows what they are talking about regardless of whether they are regulars or not. However, I guess if I’m using the site I should at least make an effort to know what they are for. I gather the number of stars relate to the number posts, what does the…[Read more]

Intersting that the first purchase for the majority of above was emotive, and ususally involved a PPOR so I guess that’s understandable. Looking at some of the comments if seems we’ve all learnt a lot, and many we’re young when starting, so we’ve learnt enough when living at home to get started (well, get started on a PPOR anyway)? But still…[Read more]

Mini,

It was 4 people as their wives were part of it, in his book, Steve mentions living off his wife’s wage while investing money from the Accounting business. In my eyes this means would have been able to get their deposits together faster than say a family on one income.

Still, it’s possible to invest but at a slower rate, that’s all.

Regards
PK

Interesting, the last line, if housing prices do fall quickly then the RBA can cut interest rates. I guess that’s our silver lining.

Kay, I like your estimate of 6 months with no rises. If we were placing bets, then I’d put a few dollars on your guess.

PK

Thanks Kay, will check it out.

Do a search on Vendor Finance in each forum, one of the more recent posts included a web address that was something to do with vendor finance, perhaps that might help.

Well, 72 hits and no replies, I’d say your question was too hard. If you do find out the answer, can you let us all know?

Thanks Westan, and good luck.

PK

Have you had it valued recently so you know what figures your working with? Were you expecting it to increase and make money from it that way or were you expecting to rent it out? To sell, means selling costs etc. have you taken them into account?

What was the deal with the relative you lent the money from, was that over a certain time frame or…[Read more]

LOL, well, I ditched them and went elsewhere. Wrote a letter explaining that I was unhappy as their fees had increased (by nearly double) in one year and then 12 months later their reward program decreased and as for there idea of having two cards, told them that was crazy. They didn’t even bother to reply. That’s customer service…[Read more]

While the onus may be on the seller until settlement, our settlement agent has advised us to take it out prior anyway as we have an “interest” in the property. There’s a previous thread on this too, do a search under insurance and see what comes up.

Drinking, Smoking, Gambling…

Some live to enjoy the moment and would think us mad to live for the future as that is what they would see investing to be. It’s just different people with different lines of thought.

Shirley,

Back to the tax breaks, you claim 30% of the amount paid, however I think it relates to the hospital cover and not the ancillaries. Also, you have a choice of claiming it as reduced payments during the year or on your tax return. Your insurer would be able to tell you whether you are already paying the reduced payments, they also send…[Read more]

Depends on the age of the children. We have a family home with no bath in it and it’s always rented out easily, but usally to families with older children ie: 7 and over.

You could check out the price of just changing one of the showers to one of those “hip baths/ showers”. I’m not sure what they are called but the floor of the shower comes up…[Read more]

Perhaps the Body Corporate should have another meeting, if some do their own and don’t do it well, then coudln’t it bring down the value of everyone’s investment?

The good news is,

a) IF investors and nervious and getting out of the market, then it’s time to do the opposite and buy some bargains from those wanting to sell quickly.
b) IF you’ve invested well, then you should have nothing to worry about, simply collect your rents, keep investing and wait for the next cycle.

Can’t see a change in cycle being…[Read more]

Yes, I agree with Marissa, Armadale and Balga are similar in many ways (Yarwood, the difference is that you do sometimes get a breeze in Balga).

Balga has doubled in value over the last 4 years due to it being “re-invented”.

Yarwood,

Don’t mind your comments about Armadale at all, in fact had quite a laugh, this was where we were putting up a fence on a 41 degree day and yes, it was very hot. No Breeze you said, yes I can vouch for that! LOL

Personally I wouldn’t live in Armadale myself (no offence to those that do), but then only 1 of my IP’s is in a place I…[Read more]

Yarwood,

I’m assuming you are looking for capital gains rather then cashflow if you are looking in the suburbs?

Well, I don’t mind throwing a few ideas in the wind as long as noone is going to follow it through and then blame me if it goes the opposite way, everyone must do their own due diligence.

Anyway, here’s my thoughts:

a) Armadale -…[Read more]