Further to Terrys email you can also try Jeremy Gordon – he is based in Brissy, he is an independent barrister and is reasonable. Always there to assist me. I believe he is now back from the UK so you can hit him up.

Cheers Ivan

For an investment I would say no – for PPOR yes – if it suits your needs. Mernda/ Doreen has seen a massive expansion in development with H&L popping up left right and centre – however – my experience tells me they are generally overpriced with huge $$ comms being paid to sellers, particularly when the chinese buy (much like point cook). Further yields are not that great and transport is rubbish.

Better options in my opinion however this will depend on your strategy/ borrowing capacity. What price range are you looking at?

Cheers Ivan

Hi there –

First point will most likely to meet mortgage broker and determine your borrowing power – if you are self employed this will be the biggest challenge as your ABN may/may not be older than 2 years.

From there you can determine your loan amount and develop a strategy to invest. Of course this will depend on whether you are buying an investment property or your own home.

Hope the painting is going well – always hard to find a good painter!

Cheers Ivan

Hi Gags,

Common question these days.

Key thing to remember is that $18k is a good buffer, your decision will be based on your existing investment strategy which I assume will be documented.

Generally speaking, Depending on your asset mix and stage in life, you can do a few things:
1. Precious metals – popular at the moment
2. Depending on % of assets, a Term Deposit (notes rates are extremely low at the moment)
3. Have fun and buy some shares if you can afford to take the ‘educated’ risk
4. Refer below

Depending on your age and exit strategy you can use the $18k as a base to develop a strategy to invest in property. You may or may not have a significant asset base that is liquid which can be used as a strategy to borrow to invest in property. There is no minimum – however you can borrow up to 80% of the purchase price, as you consider this don’t just think cheap property, think quality over quantity so save if needed. Personally, a minimum of $80k is needed, however this will depend on where you choose to buy and of course subject to serviceability of the loan.

There are still 80% lenders so the ball is still in the SMSF buyers court.

In summary with limited info $18k may be a small piece of the pie, and you may decide to cut the pie to invest effectively.

Disclaimer: this is not financial advice and does not take account of your personal circumstances, seek your own professional advice :)

Hi Danoz – how big is the apt is sqm? measure the apt in sqm based on price.

I would not invest in Southport or GC in general, for you if you are in sydney this will depend on your knowledge of the area. GC is going gangbusters however the GC property cycle is very unstable. The chinese have moved in just as the Japs did, for how long?

Your yield is 5.9% which I would challenge (check rental val), and be sure to check the vacancy rate in the area and also comparable apt.

You said its not a great investment but not a bad one? well that says it all mate, as long as you have not signed a contract (there is a cooling off period) take a deep breath and head back to the research table – for that price you can find a unit in Melb or Brissy with better LT growth prospects than southport.

Cheers, Ivan

I do alot of bad credit loans – from 1 plus day bankrupt to huge credit defaults, there will be lenders for you, however the product and rate will vary. As you have deposit – what about your income?

Your not priced out, however need to choose the right lender to get the best rate.

Cheers Ivan

Argyle wrote:

Hi Lloyd,
Sorry, I didn’t see this message when you posted. We actually have two properties in Qld, one near Ipswich and one in Kingston. We got into them through Park Trent. They are both negatively geared and not doing very well at the moment. The market went down after we bought them. No doubt they’ll be ok in the long term but they’ve made us a little wary of Qld at the moment – especially with the resources sector the way it is.
Cheers,
Trevor.

Hi mate – sorry to hear you used Park Trent – awful bunch of people.

Cheers, Ivan

Richard thanks for the comment, I love Mitchy, been investing in Mitchy for 4 years – have a property there myself – so im not too late. IT is a real cool suburb as I stated.

Cheers Ivan

Contact Samantha from Qura on 0447 400 841 she is local and will take care of you. Cheers Ivan

Sorry if I did not read this propertly, however are you under mentorship? if yes, will take 2 years of grind to get some real cash flow. Otherwise if you have your own credit rep – and own busienss this will be easier to get a bigger chunk of the pie.

All the best with it all and keep us posted to see how you are going. Its an exciting time in broking, most challenging time in 25 years according to the head honcho bankers that have been around since the late 80s.

Good prospects

Cheers Ivan