Sounds like you're having problems Nic.We had problems with our bank, we had an 8 wk settlement and they were still 2 wks late! (few yrs ago).Keep a good record of all you emails, phone calls etc.We were charged interest (10%pa) on the weeks overdue. This doesn't always happen, but at discretion of vendor and their solicitor, can be done.Our bank…[Read more]

I have stumbled across this post rather late…Those who are happy to pay a group to help them buy, no problems.Many of us would like to buy independently and not pay commission before we've even made any cash from the deal!If you want to buy thru a group, as the post says, first check the licence.Then research the area  buy and sell prices b…[Read more]

Hi knownothing,we all started where you are now!Got to start somewhere.From my understanding (which is not complete!), the only way NOT to cross-collateralise, as you say, is to withdraw equity and make your first IP loan independent.This could mean that eg you leave 20% equity in PPOR loan and take 20% deposit for IP out of home loan. Hang on a…[Read more]

Hi Rob,Buying through Park Trent (or any other packaged product) just means that you are paying a premium price for the product that they are developing….Get a clear idea of current prices in the area of similar properties. Don't rely on their advice, which is part of their marketing.Don't sign anything on the spot, regardless of incentives,…[Read more]

Our 3 bed highset house  in Dysart has now rented (been empty since April) for $700pw. ( best rent yet.)I wouldn't go for a house with a pool, as we found the pool to be a big problem (companies didn't want one). We had it filled in!Send me a private message if you like.quickchick

So what strategy do you use? How's it going? Share with the forum your knowledge, for free!By the way, I'm not into seminars that are just there to sell their properties, just ones which are imparting knowledge on investing, and leaving the buying to us. You're knocking low-brow seminars? You started this forum bagging them all!And still no…[Read more]

Hey badger,Alani asked you how much property you own on July 17th's post.You then engaged in some banter on measuring sizes as though it was irrelevant how much property you own.I think, considering your strong statement calling many of us 'mugs', you should be prepared to declare your own independent successes. Maybe you have done very well with…[Read more]

Whoa, Adam…..You're a bit mixed up!A family trust is a structure in which to hold assets. Your own income is taxed as personal income. No matter if you have a family trust, you can't put any income into it.The only income a family trust will ever have, is the income from any assets owned in that structure.It  may be possible IF you work as a sub…[Read more]

I understand Shales' frustration. 10 yrs ago with 2 primary aged boys, my divorced friend on pension with 3 boys (and a financially responsible ex) had money to shop in Myer when I struggled to buy a coffee and muffin on hubby's not great wage and my part time one.Different stage of life, different frustration.22yo son just started Uni, been…[Read more]

They may not care about your financial obligations, but may be more motivated by their own legal obligations!Hope it works!!quickchick 

First tine I've seen this post…Badger, you never replied to how much you've made in property… did you forget the question?And if you were making money from property, you could use educational seminars as a tax deduction, not have to pay from your own pocket.Thanks to books, seminars and mentoring, we make more in property p.a. than from either…[Read more]

Hi Adam,I'd see your accountant, ours set up our Family Trust.If you don't have one, or if yours doesn't know enough to advise you (that happened to us)…..time to get a new accountant!I agree with Richard, don't go for hybrid FT.From my (limited) knowledge, holding negatively geared property in a FT is no advantage, as you pay a fee each yr, and…[Read more]

Sounds like you've had bad luck, after doing your due diligence well.I have heard of agents who will give a good reference just so late payers will find somewhere else, and get off their books!Maybe ring referee agent back to clarify… even if they don't give you any further info, they may realise they should give honest references!We had a Qld…[Read more]

Just ask your conveyancer/solicitor for the vendor's permission for access, if before settlement.For future properties, I'd do all this during the due diligence time (ie at least before cooling off finishes, but best before you even make an offer.The agent you're buying from may give an indication, but they'll be insales, not rental, so may not…[Read more]

As always, interesting and informative discussion.We hold property in the Bowen Basin, for 1 1/2 yrs and 3 yrs respectively. At half the current rentals, we would still be in positive cashflow so can't complain! (How does this make it "too early" to invest in property here!?)I agree that growth in China and India have slowed, but growth is still e…[Read more]

Hey Chiz.I agree with Richard…. and disagree!Our taxation, superannuation, and many other laws bear little relation to those in the USA. So there's info in this book that does not apply to us as Aussies in Australia, buying and selling real estate.HOWEVER there is a whole host of mindsets and concepts that are absolutely relevant. I have read…[Read more]

I have been to a seminar from Cashflow Capital.My feeling is, they use a range of services eg financial advisors, property managers, buyers agents, etc. who all get a commission. Which is fair if they have provided a service, and you know up-front what the cost is.However, if you invest in your own education, you can learn thses skills yo…[Read more]

I have been to a seminar from Cashflow Capital.My feeling is, they use a range of services eg financial advisors, property managers, buyers agents, etc. who all get a commission. Which is fair if they have provided a service, and you know up-front what the cost is.However, if you invest in your own education, you can learn thses skills yo…[Read more]

I wouldn't stress too much about what you can't change, but think of solutions..(What is your time-frame for building? Or is your plan to hold, then sell undeveloped…. a risky scenario in my view.)If you'll be building, strongly consider planting something down that border….non-clumping bamboo (not the spreading sort!) for a quick-growing…[Read more]

Another thought in these tighter economic times…I am not really voicing an opinion, just a thought which may be way off centre.I wonder if the government, needing to tighten up financially, will spend less on defence, ie less members employed and needing housing? If so, existing leases would of course need to be honoured anyway.My feeling is…[Read more]