I agree that anything above 0.75 USD is a good buy. The USD has regained strength in the past few monthly both with the USD being used as a safe haven currency tied with the RBA lowering rates making the Aussie a less attractive currency. The AUD's weakness in my opinion is greatly tied to the slowdown in China and therefore there will be more…[Read more]

Hi FineThanks,What a impressive story… you sound like you are living the dream.. I wouldn't mind hearing more about how you got the business started and successful.Here is what I would do if I was in a similiar situation. I would look into mortgages with offset accounts which means your cash would be accessible whenever you need it. The mortgage…[Read more]

2010 – For me was a difficult year to find property in Sydney that made sense from a risk reward perspective. The older posts are valid on why there is so much more interest to invest overseas..For me in 2010, my focus has been abroad in Canada which has a stronger conservative banking system than the US, but still affected by the GFC. The…[Read more]

Oh.. Yes.. $274 in my mind is still significant.. even after years of investing.. wasting money is still a bad idea especially when another option is available that takes the same amount of time.. <br /=)” title=”>=)” class=”bbcode_smiley” />

Depositing money to a USD account for Citi requires fees? That could be because the USD account is still and Australia account. In that case Judith.. you are right the property manager would have to have an account or do what I did in the beginning of my investing career… get property managers to post checks and you can deposit them into the…[Read more]

Hi Jeff,Yes, similar to Currency Online you can lock in forward rates. Same deal with trades over 10,000.. there are no fees. I like it because it is online and you can do spot trades at any time.Speedy, in North America.. both Canada and US allows you to have others deposit money into your account as long as they know your account details. They…[Read more]

Hi SpeedyYour response sounds a bit aggressive.. not sure if it is just online forum messages affecting the tone of messages. So, forgive me if I have misread your tone, but in my view it is a bit aggresive to accuse me of missing the point instead of requesting clarification on how it saves money. Why would it be worthwhile to have a bank…[Read more]

Hi Judith,I'm in Sydney. The one I would recommend is Pitt Street 55-57 Pitt StreetSydney NSW 2000Tel: (02) 8225 3663Call them before you visit the branch to make sure you have everything they need to complete the application.Yes, the rates at Currency Online:  http://www.currencyonline.com/ef/1324/default.aspx have been better than all the m…[Read more]

You can also look into getting a USD account with Citi Bank in Australia. I really like using the fully automated Currency Online to convert money from AUD to USD or AUD to CAD.. since I'm Canadian I often move money to pay down mortgages in Canada.http://www.currencyonline.com/ef/1324/default.aspx for those that are interested. Great program..…[Read more]

There are alot of investment clubs that are free where people get together and discuss strategy and share information. That way you are able to meet alot of people who are going through the same experience and you can potentially find a mentor or business partner at those gatherings.I know Robert Kiyosaki -Cashflow clubs throughout Sydney. Not…[Read more]

For me, my mentors have always been people who were referred to me from my close network. In addition to the networking, my mentors have always been transparent about their past transactions and portfolio. This helps understand whether their strategy aligns with yours and whether you want them to be your mentor.I'm from Canada so my experience i…[Read more]

Sydney CBD

I would agree with Andy in saying only one or two of Kiyosaki’s are important for the reader who is interested in getting into real estate investing. The mindset change is what is most important in creating multiple streams of income, whether it is from owning small business, investments in shares/real estate, self-employment, or employment.

I…[Read more]

Smart Investor,Good to hear that you are doing your research and analysis before taking the big leap. Many investors do not think through their strategy or entry and exit points. Based on my own experience over the last 6 years of investing in property including homes and units, here are the things to consider:Units – low maintenance, lower rent…[Read more]

Yes, I agree with the earlier posts above. When evaluating investment property it is important to consider all the ongoing fixed and variable costs to understand the bottom line. This include pre and post tax numbers. I have found it useful to have spreadsheet setup with standard costs of purchase and ongoing management to quickly assess the…[Read more]

When I first moved to Australia, I thought it would be impossible to find positively geared property. Surprisingly, the properties exist but they are further away from the city centres. RPData produces a report every year that provides the median rents compared to median house prices to show all the suburbs in Australia that have positively geared…[Read more]

Be careful with serviced apartments and student housing. The yields can be quite attractive since the price of the properties are slower in comparison. The financing of these properties may be more difficult since the size of the unit generally is less than 50 SQMs. A larger down payment may be required and you may have issues reselling to another…[Read more]

There is a report prepared by RPData that discusses median house prices but also the gross yields by suburbs throughout Australia. The report also informs new investors the transaction fees to budget for the purchase.I've uploaded the report onto my blog: http://www.sydneypropertysite.com under Sydney Property Resources.CheersRay

Does anyone know how interest rates differ for commercial property versus residential? Also, what are the LVRs for commercial property?

mim 68

I agree with the other two posts. I would keep paying the minimum on the repayments. Are you on an interest only loan or principal and interest? If interest only then your minimums are the lowest they can be. If you are on principal and interest you may want to consider switching to interest only or re-amortising the mortgage to stretch…[Read more]