Kong, My apologies, i have just arrived in the country and wasnt sure of the IR.With regards to the mortgage term of 25 years? I didnt know it wasnt possible in Australia. In South Africa, it quite normal to have a mortgage term of 30 years. Whats the norm is Austrlia?Is it safe to base my simple example with a IR of 7% and a mortage term of 20…[Read more]

Madeinitaly, very simple scenario:Lets say you looking for investment property in the $150 000 region. You manage to get a $150 000 property for 20% below market value and you pay $120 000 for this property.You are willing to put down a $15 000 deposit, and you ask the bank for the remaining $105 000. I might be slighly off here, but your monthly…[Read more]

Thanks Richard, make sense.

Thanks for the advice..But if you dont own a home in Aus and you currently renting, surely it would be pretty simple to prove that this first property purchased is going to be your primary residence?For example, if you still had an lease you needed to honour, which still had another 6 months, could you not prove that you planned to move into your…[Read more]

Hi Nicole, Sounds like you gained some good experience in the UK. I built a property portfolio of 30 properties in South Africa in the past 6-7 years and I'm still doing so, no reason to stop just because I'm in Australia. Most of the property I actually sourced myself, but others i also used estate agents, whom i gave my buying criteria. I…[Read more]

Are there any investors / brokers on this forum who are based in Sydney?

With $200k cash, there is no reason why you cant buy 10-12 x $150-$200k in the next few months. If each property is giving you  positive cashflow of $500pm, thats already a positive cashflow of over $5000pm…from day one! Over time, with 10% anual rental increases, that would equate to a a positive casflow of over $10 000 per month is under 10…[Read more]

Hi Nathan,Do you have a link regarding the event?I'm interested.Cheers,Robbie

Hi Terry,Thanks for the advice.That was my approach in South Africa. I initially used mortgage originators but found that i actually got a better loans when i approached banks directly.If i find a decent MO, ill be more than happy to use their services provided they are able to meet my investment strategy.Regards,Robbie

Hi,Started working the day after i arrived in Sydney.I would be able to give more details offline, pm or email?Please let me know if you can assist.Thanks,Robbie

Thanks guys!Yup, mortgage originators are also used in Souh Africa, but it appears to be dying industry at the moment.I purchased my first few properties in South Africa using mortgage originators, but i felt the servfice i got from them wasnt great and I just felt like another number. Their service wasnt personalised for my investment needs.…[Read more]

Hi Nicole, What sort of deals were you doing in the UK? Were you sourcing deals and passing onto investors or building your own portfolio (from the deals your sourced) while over there? Look forward to hearing from you. Regards, Robbie

Hi,Thanks for the reply.I used to think the same way, until i dealt with alot of motivated sellers in South Africa. Alot of them were on the brink if financial disaster and were about to have their homes repossessed by banks and have their credit records tarnished.They had properties on the market and they just couldnt sell, When they finally did…[Read more]

Interstings..What sort of information can this application give you on a property?

Hi All,I went into the office of RP Data today to discuss some of the subscription options they are offering.As i plan to source property nationally, i find RP Data to be quite limiting in terms of what they offering compared to the price of the package.For example, they have a subscription for about $400 per month which gives you:Sales History +…[Read more]

Thanks Angel, I agree with you about getting to know areas and market values.If you wanted to view the previous sales in a certain block or complex, how would you be able to get this information and at what cost?

Thanks for the adice.Adt this stage I am looking to get into the property market and looking for properties under $200k, which is defintely possible, Are the any areas you can recomend as I doubt the northern beaches would have property under $200k.Back to my initial question, are you aware of any 'low income' area in NSW or the rest of Australa?

Thanks Jamie,Can you think of a few interesting areas off the top of your head?As i have just moved to Australia, I am only just barely familiar with a handfull of area in Sydney

Thanks!Do you know how much they charge for online valuations?

Hi, I have also considered looking in the Blacktown area. What is the breakdown of the deal you looking at and how is the cash flow?Regards,Robbie