Were you simply absent for under 6 years, or did the property become an investment property and did you rent it out?

Richard is right, some finance brokers are good and others…sometimes they don't know what they are talking about and they give advice with a lack of information.Get a second opinion from another bank or mortgage broker and see what they say.The thing that worries me is that you are living week to week and it sounds like you are struggling to get…[Read more]

Wow!!! You only owe $40k on your $200k property! Well done. You have been very diligent and payed that down and that puts you in a great position.You have already received some great advice from the people above.Interest only can be a great idea as your repayments are less and it frees up cash flow. However, if you prefer to pay down the principle…[Read more]

If you are living off centrelink payments then it is very likely that the banks will lend you much (if any money) to buy an investment property.The banks tend to want to know if you can service the loan even if the property goes belly up. Look at the recent Queensland floods. If you weren't insured for floods (and not many people were) could you…[Read more]

An interesting thing that I found out the other day. Robert Kiyosaki (who Authored Rich Dad Poor Dad), who preaches positive cash flow property. Bought his home before he invested in any property.Not saying that that is what you should do. But just interesting that the number one author on personal finance did just that.I was always a fan of…[Read more]

You don't pay capital gains on your PPOR.So for the 15 years you lived there, when it was your home and not an investment you don't have to pay capital gains. For the last 5 years, when it was an investment…that is where you have to pay capital gains.Friends of mine recently sold their unit where they lived in for 3 years and rented out for 6…[Read more]

Just note that though student properties may appear to have a high rental return they are often vacant for 2-3 months of the year when the students are on holidays.This can put a strain on your cash flow. Not saying don't do it, just saying that this is something to be aware of.

That’s a tough one. A contract is a contract. Did you put the rising cost on insurance in the contract or did you just state that insurance was $1000 for the duration of the contract.

You might have a good chance, but if the contract says $1,000 and does not allow for rising prices then you may have to wait until the contract is renewed.

Good luck.

1. Demand – If other people are willing to pay more to live in that area that pushes the prices up. If more people want to live in the area then it pushes prices up2. Supply – If there is too much supply (like loads of unit/houses) then renters can pick and choose and bargain. If there is a low supply and lots of people looking to rent then the…[Read more]

Sounds like you need both. A financial advisor to help show you how to achieve your financial goals AND an accountant for showing you the best structure to save on taxes and maximise investments. The two go hand in hand.Most financial advisors haven't walked the walk. You need to look at where the financial advisor earns most of their money. If…[Read more]

Duckster raises a good point. This is not something you should try and stinge on. Go and see a qualified professional and get professional advice. Forums are good to learn the ropes, but accountants know their stuff and the correct advice could save you a lot of money….legally.

Hey and welcome to the forums. Thanks for your question.Firstly, good on you starting young!!! The earlier you start the easier it will be. Note: If you want the first home owner grant you will have to live in the property you buy for at least 6 out of the first 12 months. That means no rental income for six months, so think about that if you are…[Read more]

Welcome to the forum.Firstly, asking where is the best place in Australia to invest in real estate is like saying "Where is the best shop to find good clothes?"It all depends.There is no one best place to invest, and depending on your investment strategy some places might be good for you and bad for someone with a different strategy.If you want…[Read more]

Firstly, welcome to the forum. Before I start, I wouldn't count on a housing correction in Melbourne. You might get lucky and it might happen, but I haven't heard any of the experts saying we are in a boom, so I doubt the prices would be highly inflated. The fact of the matter is that housing if amazingly expensive compared to your income and it…[Read more]

Hey and welcome to the forum,Looks like you already have your foot in the door when it comes to the property market, which is the hardest step. Have you got your IP positively cash flowed yet? 50% equity is pretty impressive, well done.I agree with Richard, if you have a part variable home loan why not switch that part to IO immediately and save…[Read more]

It would be good serviceability for 55 days…then not so good

It's hard to go wrong if you buy in good neighbourhoods and stay on top of things. Make sure you have a good real estate agent and that you aren't renting the property for below the market value.As everyone has said, properties will probably always go up. So if you can afford it then it is a good strategy.I prefer to go positive cash flow as I am…[Read more]

I have looked at these. From my understanding they need to meet a few specific criteria1. They need to be new builds – Probably because the government wants to keep housing supply high2. You need to rent them out for 20% below the retail rental value

It still could be a good idea. You be the judge, not us. You know your situation and the property better than us. If it is right for you then there is no point letting us hold you back.

Haha, I bought Rich Dad Poor Dad for my wife (when she was still my gf) and tried to make her read it. She got about half way through and gave up.For some people investing is in their blood and they LOVE it, for other people not so much. I just gave up trying to push her, I will go ahead and let her come along for the ride.