Great to see that you are getting creative. Looks like you are in a tight spot because you can’t afford to own your own home PLUS an investment property. That is UNLESS you look at positive cash flow. Unless a property can pay for itself you are going to be stuck with a one property portfolio.

I can’t give advice because I am not a financial…[Read more]

To things I would be thinking about:

1. If you are going to sell you might want to think about reinvesting elsewhere. You don’t want to little profit you did make to get gobbled up by living expenses.

2. How long it is going to take to be Cashflow+
If it is going to take ten years then that is a lot of money you have to invest before you see a…[Read more]

I choose the house for a few reasonsFirstly, as you mentioned strata fees don't exist, meaning more positive cash flow due to the lower expensesSecondly, because you can do a lot more to improve both the cashflow and the value of the house. You have more say over renovations and you have the power to renovate the exterior as well as the garden.You…[Read more]

@lorddopg – That is up to you to decide. I guess monthly income would be a big indictator though. As monthly income tends to be a major goals when you are investing in positive cash flow real estate.So far I have come up with1. Steve McKnight and David Bradley2. Margaret Lomas3. Dymnpha Boholt4. Rick OttonCome on you guys need to know some more?

If you can't manage to sell them then I would be happy to take them off your hands.I will pay for postage.

Be careful, you don't want to throw your $300k into one investment deal and then lose it all. Then you will be left with next to nothing.Take your time, research your area and your properties and buy right. You aren't going to be able to gear (and if you can only a little bit) so find the right property with minimal potential risks.Hope you can…[Read more]

If it is zoned commercial then I think the local council is trying to tell you something. It is probably ideal for commercial property.Why not turn the home into an office and rent it out at such and then do something with the back yard. As an office doesn't usually need a large back yard it might be an idea to put another office in the back and…[Read more]

Wow! Lucky you!This has put you in such a great position.Be careful because I have seen people receive huge large sums of money that they said they were going to save and they have dwindled it away. If you don't want to buy an investment property then it might be an idea to just pay off your loan with the bank. Having it in the offset account…[Read more]

I suggest you speak to a professional. Your circumstance is more suited for the help of a mortgage broker or accountant.

You are in a great position with your income and hopefully a bit if equity in your home/land. Unfortunate that you have that bankruptcy problem to deal with.

I don’t understand what suggestions you are asking for???

You probably still need to save a deposit. Even vendor finance loans require some sort of deposit….not to sure about rent to buy options though.

Note: Vendor finance interest rates are usually much higher than the banks. Just be aware of that.

In do wish you luck, but you look like…[Read more]

My advice would be to look at the area and what buyers and renters are looking for in the area. Do they want a big house? Can they afford a big house? Or does the majority of the market want a smaller more affordable house?

Giving the market exactly what it wants can pay big dividends. There are pros and cons to both your ideas, so find out which…[Read more]

Firstly, let me say welcome to the forum and congrats on making your first post!In regards to the financing of the property I can't give you financial advise, because I am not a financial advisor, but I can offer you my knowledge of the subject. Borrowing the full amount to pay out your first mortage – I doubt this is going to happen as the banks…[Read more]

Just to clarify.

Firstly, how many people are on the title of the current property? This will affect what you can do. You can call them by fake names if you are scared about privacy.

Secondly, how many people do you want to transfer them into? What is your end goal? Do you want to sell the properties, have one each to live in or rent out, keep…[Read more]

Rick Otton does a lot of vendor financing all around Australia. I think his company is called “we buy houses”.

Just note that they will often add 2-3% on the banks interest rates and you will still have to put a deposit down. Plus they add a good deal onto the purchase price so you have to be in it for the long term.

When it comes to refinancing…[Read more]

Me and my wife are awesome at making a kitchen and bathroom look brand new with only spending a couple of hundred dollars on paint. It is amazing what a few coats of white paint can do. If you are willing to do the work.

If you have laminate kitchen cupboards that are dated you can paint over them. You have to use a primer for the undercoat (a…[Read more]

The best teacher is experience. Use your time off to search for great property deals at you can afford and that will generate you a passive income. Make offers on hundreds of properties and see where that takes you. Gain experience by talking to real estate agents and meeting up with other investors. Learn from your mistakes on smaller deals…[Read more]

I would have to agree with angel, investing in positive cash flow property can often be the best way to go.It seems silly to me to invest in property just to reduce your tax. Why wouldn't you prefer to invest in property in increase your non-taxable income. A positive cash flow property can deliver non-taxable income if the depreciation of the…[Read more]

Do you have a lot of assets that you need to protect? Are you vulnerable to a law suit? Is the property going to be positively cash flowed.Firstly you should know you can't negatively gear a trust. So if you are after the tax write offs from a negatively geared property then you won't get them.Secondly, if there is another offer on the property…[Read more]

Unless you shopped around a lot before you settled on St George it is likely that there would be another lender who would better suit you. This is the realm for the mortgage brokers (not for a forum) and it all depends on the specifics of the transaction.How much equity do you have in the property?Do you pay interest only or principle and…[Read more]

I agree with some of the things that you said, but not all of them.I prefer houses over units as the expenses are often less (you don't have to pay strata) but that is only if you are limiting in buying one property. If you have enough money you could buy a block of units or a commercial property.I don't agree with buying new and maximising tax.…[Read more]