I recommend Kaplan – according to one of my staff they just updated their course which was needed.

Cheers Ivan

Hi Chris

I do quite a bit in the area and grew up around the corner.

These are a little pricey in my opinion.

No concern with OTP TH in Noble Park (at the right price) and they generally value up given the strong performance of the market with a key focus on first home buyers.

Positive is that skyrail takes away the railway crossing at Chandler rd and hopefully the sound also.

Our developments are all in Noble Park central which for me represent better value and a better location.

Hope that helps

Cheers Ivan

Hi there – agree with the OP a great place to live but not to invest. The area has seen limited or negative capital growth in the last 5 years. My favourite is Meetung – a small fishing village 5 min drive from lakes entrance. This place is great but fallen 5% in value in last 5 years.

Buying a block of land should be cheap, me i’d go for a large piece of land and get a local builder to build. Ensure all services are connected. This area has some of the cheapest land in VIC which is amazing…..

I’d buy there but I bought in Phillip island 15 years ago which is my ‘holiday’ investment
Cheers Ivan

Yes they do – its a huge growth area for most banks….

TF – sounds like there is a story there re ‘start again’ – unfortunately a familiar story.

First thing is take your time, your super is your retirement so this is a time to assess your future. If you have chosen property as your destiny – then chat to an accountant re the risks and benefits of a smsf. If it is not right for you – you will know….take your time.

Re borrowing in SMSF, this can be done in conjunction with the SMSF set up – that is check your borrowing power – the way banks assess SMSF loans is not like you normal investment loan….complete this process before you buy. Here is a checklist to help you https://redwoodadvisory.com.au/smsf-loans-borrowing-checklist/

Remember to take your time….there is a few years to come right?

Cheers and to success!

Ivan

Hi there – be free to ask them here, i’m sure you will get the answer you need

Cheers Ivan

Poh – perhaps you should seek legal advice, as this will depend on whether you have been misled and of course what you actually paid for. i.e did you pay him a set fee to buy a property? look at the agreement and was the conduct in accordance with the agreement. Guess everything is not what it seems on the “Block”

Cheers Ivan

If it does not feel right then don’t deal with them. I am a strong believer in gut feel and am a bit sceptical when MD’s call themselves self made property millionaires.

Cheers Ivan

leeleedub wrote:

Yeah same boat. As my first foray into property investment I naively followed a property “mentor(very loose term)/mortgage broker” into a 10 unit development who bought one themselves.Down about $150k now but who knows?Worst part is that this mortgage broker bought one themselves AND convinced all of his retiring clients to do the same, just after being hit from the GFC too :(Even ran sessions on it multiple times in his ‘investment club’, which people pay for.Anyway, lessons learnt all round I guess.Oh and for the record I took up mortgage broking after that to ensure that people get good unbiased and not opinionated advice…
If you do hear of any other ways around it Daniel please let me know.Going to Gladstone in March to see the outlook with my own eyes then will keep you posted!

Hi Lee,

Firstly so sorry to hear about your experience. As you know, the mortgage broker should not be recommending property. Yes, property is such a unregulated minefield, however, there are so many brokers/ solicitors out there getting people into a off the plan property and taking a cut on the side. They should only be structuring your loan and telling you how much you can borrow.

Are you looking at keeping the property?

Cheers Ivan

Get a free consult – each advisor will be a auth representative of the license much like AMP, make your judgement based on your initial meeting with them and see if you agree with their offering and have a good ‘gut feel’ with them.

See how you go.

Don’t let them sell sell sell, ask questions, what value will they provide…

Cheers Ivan