It is for the most part outdated but it is still possible to find 10%+ yields, just broaden your search. Remember to look at just the numbers and not with your emotions. I think there was a revised version in his second book but can't remember what it was. Have you heard of Nathan Birch? He's still regularly finding properties with fantastic…[Read more]

It was just general advice from the point of view that spare cash that's in an everyday bank account would be better off in an offset that is paying down the principal and saving on interest in the long term. Hence the example I gave about the extra $100 repayments.

Would there be another way to use spare cash that's more tax savvy?

Hi Sundance,

It would definitely be better to pay down the loan as quickly as possible so putting the money straight back into the mortgage is highly recommended. Along with any other spare cash you have. (Paying an extra $100 a week into a 30year mortgage on a $360k property will save 10years and $200k worth of interest!)
Have you set up an…[Read more]

Thanks for finding this thread Woga, just moved to Perth and was going to ask the same question.

Momentum are still around (I've conversed with Damien a few times) and http://www.propertyinvestornetwork.com.au is up and running with an address in Palmyra. Try Meetup.com as well for local groups that meet up and discuss all things property related

This video comes to mind http://www.youtube.com/watch?v=-HaqwFJj4ZY

Gold fits the bill and should prove to be an excellent buy if you understand (and believe in) the fundamentals of it as an investment. I'm heavy on silver for many more reasons but for portability, hideability etc, gold wins every time. I've bought 5oz of gold (about $8k) with no…[Read more]

Thanks Richard, it's quite a relief to know that it's possible as I was unable to apply for the 457 as originally planned.

I'll be looking for a mining job for the cash (along with half the country by the sounds of it!) pretty soon so should be able to obtain at least a $70k+ wage and already have some cash for deposits. No debt or credit cards…[Read more]

Strange, was only looking at this thread this morning to see if the OP had followed up with an outcome.

What are the chances like for someone like myself on a 485 visa? Is 90% still a possibility?

Hank, I've always read that the minimum amount of time you should be in a job before applying for a mortgage is at least 6 months. How did you manage…[Read more]

Interesting idea indeed. Wonder if the cost of buying, transporting, modifying etc would be worth investigating further. Let us know how you go when you suggest it to council!Here's the NatGeo episode- http://www.youtube.com/watch?v=0A1_PSzhVj0

Haha fair enough. I was in Adelaide a few months ago and was driven around Elizabeth, Davoren Park etc so have an idea of what you're talking about!

Recent API article on potential CG and CF areas highlights Whyalla as a good area to invest. I'd never heard of the area before but it does seem very promising with the Dam construction, hospital, $8bn in future projects etc. The low house median suits me fine to start off investing so will be looking into the area in more detail.@James– what…[Read more]

I remember seeing test kits in Dulux a good while ago but the same ones are available online- http://www.australian-asbestos-removal-services.com.au/australian-asbestos-removal-services/asbestos-kits.htm. Seems like a pretty easy process but the sample is sent off to a lab for expert testing and results takes a few days to be returned

If the contract specifies vacant possession then you should be ok. If not, you'll inherit the tenant and lease. As long as they are given an adequate Notice to Vacate there shouldn't be a problem. If they refuse to leave, you can delay settlement until they do vacate. It may take a few weeks but I believe an eviction notice can eventually be…[Read more]

Hi Peter,Sorry to hijack your post but wanted to say that's a very impressive profit considering the small population of Wandoan (<500?). I know your strategy isn't buy and hold but out of curiosity, I'm wondering why you sold a property that is in the area of what you know is soon to be one of the largest coal mines this side of the world? Would…[Read more]

I was wondering that too as I have 6 'rewards' but no idea what they are!The website definitely feels more interactive with the moving Activity Feed and challenges to be done. I'm just hoping the forums don't get spammed by people posting just for the sake of it as a way to get points and unlock achievements etc.Excellent job on such a smooth…[Read more]

Hi Michael,I've been tracking both suburbs over the last year or so due the their affordability and proximity to the CBD and it seems as though the two are frequently touted as being good investments. Blacktown does indeed receive more attention but I think this may be due to the size difference and number of properties on the market, it has…[Read more]

Ah that makes it a bit clearer, thanks for answering. So it's along the same lines (if not the same thing) as the PAYG Income Tax Witholding variation form which would also help with the CF. Quite handy in some situations I can imagine.Regards,Derek

Hi guys,Nothing needs to be done if the gift is not related to employment as there's no gift tax in Aus. The ATO uses its 'nexus' rule to determine the relationship between the gift and employment and whether or not it's taxable. Eg, if you were receiving the $25k in $200 in weekly instalments, the ATO may treat this as a source of income and…[Read more]

Hi Toucan,I attended the seminar today and quite enjoyed it. Steve as always did a great job presenting but I felt a lot of the material had been covered in his lectures at the last 3 day conference (which he did admit to to a certain degree) and if you've read all of his books then you probably won't miss out on too much if you don't go. Stuff…[Read more]

Cheers for the replies guys, appreciate the fact you read through all that. Catalyst- I've known for a long time that I didn't want to work for someone else and after reading books by Kiyosaki, McKnight etc, that was reaffirmed. By far the best type of lifestyle. The flip properties are not a definite, just something I'd like to try and see if…[Read more]

Thanks for that, all the links work fine.I did read about it briefly a while ago but didn't realize it was actually that bad. All those lower classes living in abject poverty surrounded by empty apartments, crazy!Kind of understand where the Gov is coming from but that is definitely an extreme. Wonder how much worse it will get and what's in store…[Read more]