ArchieZEN,
Tas is 100% right about going through a broker, a very close friend of mine was fairly high up in lending at CBA. His advice to me was go to a broker because they could do much more for me than anyone within the bank. He explained that this was due to banks as a whole trying to streamline thier lending sections by outsourcing to…[Read more]

G’day R
There has to be a point where investors will stop buying in regional areas because the returns will not justify the purchase price. I’m guessing this point will be around 6%.

My feeling is that it will take an enormous change in invsetor attitude for the bubble in regional areas to burst, although the current over supply of rental…[Read more]

G’day
I’m buying IPs with my parents at the moment and we’re all confident that none of us will have dramas! Sure we clearly stated our aims and goals at the start, but this forced us to develope a plan early on. If the pair of you are close there should be no probs, just make sure you know where each of you stand before you start.

Kooringal, no…[Read more]

After reading other property forums and seeing unbeieveable things happening out in the field (eg: being in a car with an agent on the way to view a property, having someone ring up from in front of their computer, and after a 2-3 min conversation, put in an offer at asking price and asked for a contract. All this without even knowing the agent…[Read more]

I can’t believe that all this excitement has been going on while I’ve been away(in a hick town of 68,000) buying houses.

While it is true that there is a stampede of investors driving up prices in rural towns, just because its the current investing fad, thus lowering % returns. There are still worthwhile purchases out there I found 4 over the 3…[Read more]

Thanks JohnBoy,I’ve printed this out to put up on my wall!!![]

Cheers
Scott

“Aim for the stars and you’ll shoot the top of the telegraph pole. Aim for the top of the telegraph pole and you’ll shoot yourself in the foot!”
-anon

Hi guys,
I’m pleased to say that I’ve benn lucky enough to find several honest agents in the area that I’m buying in. I’ve just returned from 3 days there and I’m happy to say that the only real tactic used, was applying a little pressure to get an offer on the table(the agent suggested the amount which was substansially lower than I was going to…[Read more]

Hi,
From what I’ve been told you can spend drawn down funds on living without paying tax on that ammount. While the interest payments aren’t tax deductable, the money incurrs no tax because it is only borrowings not income. Not a bad ploy if you already own a neg geared high growth IP, and need some cashflow(so long as the growth far exceeds the…[Read more]

Hi Violeta,
I think your yery lucky to be spending time with Stu(I’m very jealous!!!)[]
It is something I intend to do ASAP, once I get over the hump that is confronting me at present!
His enthusiasm, confidence and knowledge(I could go on) are inspiring to someone like myself who is just starting out!

Cheers
Scott S

“THERE ARE NO PROBLEMS ONLY…[Read more]

Hi Guys,

*** LONG SENTIMENTAL POST WARNING ***[]
I used to believe that people predominantly had good intentions, and most were giving. My parents were both heavily involed in a major service organisation(and still are), and I thought all people were like them! As I grew up people went out of thier way to prove me wrong! I started to see that…[Read more]

hi Dram,
Your probably the person who can best answer your question![] If you feel they are good units, are happy with the returns, vacancy rates, type of tennant they attract, etc. Go for it![]
My advice would be the same as David’s buy the whole block, buying one more is a step in that direction.
The only thing to watch is how your bank would…[Read more]

Hi Keesha,
Positive cashflow properties are found in major regional centres around the country, you used to be able to find them on the outskirts of Sydney, but I’m afraid that’s not the case any more.
Usually these properties are at the lower end of the market, and often aren’t the ones advertised in the window of the agent. Granted they are…[Read more]

Gday Marty,
If at the end of the day it’s increasing your overall income, which by the sound of it, it is I’d hang on to it. Broadbeach has no choice but to go forward and long term there are bound to be reasonable gains in the unit.
While I would never buy sometihing like this knowing what I know now, I almost did, had that been the case, I would…[Read more]

Hi Mark I haven’t had a chance to thuroughly look into Mt Isa yet (which is silly ’cause my mother comes from there, and I have some good contacts in the place). As you’ve mentioned on another post, the MIM takeover is an issue to be watched. While it has good infrastructure any factors that affect the mines will have an effect on rental demand in…[Read more]

You got in before me R! by the way I’m 28 I left that out[]! Sounds like a life style not a job R []!!!
Seeya

“Aim for the stars and you’ll shoot the top of the telegraph pole. Aim for the top of the telegraph pole and you’ll shoot yourself in the foot!”
-anon

Gday Kris,
I’ll start, I’m feeling brave tonight!
I’m a toolmaker by trade, that means I make plastic moulds and other similar stuff. (not rakes and shovels as some think!)
I sort of transgressed into plant maintainance and Breakdown maintainance about 6 years ago ’cause the money was better and I found it more interesting.
I went into business…[Read more]

The invitation is open to anyone (I might regret this!!! []) I know I’m being kryptic, But if you email me, with your details and ask for advice I’ll help anyone who’s willing to help themselves. I’m not offering a free ride or some magic formula though! I’m just a beginner too!!! But I will steer you in the right direction. Who knows you might…[Read more]

Drewboy, get on realestate.com.au, You’ll find heaps!
Hint Look in LARGE regional centres, and talk to agents, these properties are not nessesarily the ones that they advertise!
If you want a hand I’ll point you in the right direction. Email me it’s in a number of places on this forum(You’ve got to do some ground work![])

Cheers
Scott S

P.S.…[Read more]

Hi 6×1,
If you can find a house greater than 3 years old in QLD without termite activity around it your doing well! The fact that there was no evidence of activity in the house is a good sign!
A recommendation for an invasive inspection guards the inspector against possible littigation in the case of an undetectable infestation. It also provides…[Read more]

Hi AlanaW,
The main problam with hirise units is a lack of rental demand, due to an over supply of this type of accomodation!
There are more units being built and many more investors buying than tennants to lease these properties. So as a result they will be hard to lease and get lower than predicted returns. This causes thier capital growth to…[Read more]