Damo666 wrote:
If anyone would like to re-open this I am happy to discuss why I think once you have enough equity (at least $1m) then this can be achievable

  I would like to know what % of their available equity people are comfortable in using for living expenses. e.g if you had 100k would people be happy using 10-20k, and so on as the n…[Read more]

Thanks Richard,                             I hava made sure all 4 properties are stand alone and would not consider crossing with each other as I don't want the bank to have that much control over me.                             I think I would be happy to pay LMI if I could get 90%. How do they work out the cost of LMI? Is it a % of the loan am…[Read more]

The main concern I have with living in a PPOR is the large chunk of non-deductable money I will be using.Obviously that large chunk of money could be used to buy one or more great investment properties.Tough decision.Any body else think this way?

Thanks guys.I also assume that using my personal stratagy of never selling the whole equation changes.Not paying or paying CGT does not concern me.I was more comparing a rent of say $1000- per week and spending 500k on building a house and living in it.I would have to consider negative gearing benifits,depreciation ect if I never lived in it…[Read more]

Casper_1000 wrote:
If you cannot subdivide then doesn't that mean the land can only have a single title on it? A duplex would allow two titles on the land? I'm in WA and have a large block but it is zoned R20 (single title only) and just falls short of what is required for a subdivision.

Thats correct.Only potential for one title on my 702spm…[Read more]

Scott No Mates wrote:
Shane, which state are you in? NSW govt recently approved a new planning system allowing greater scope for development. I don't recall all of the details but it was on the dept of planning's website.

I'm in NSW.In a council area that is very strict on these matters-pittwater in sydney

Charyny wrote:
Hi ShanemattOur business has painted many kitchens for our own investment properties and clients investment properties.  It works very well is such a cost effective solution.  We use White Knight products available through Bunnings and Taubmans.  We have painted tiles, bench tops and cupboard doors.  We always replace old han…[Read more]

SHales wrote:
A friend painted cabinets with the proper paint.  The wood cabinets went fine, but the paint chipped off the melamine cabinets very quickly.  This looked pretty bad because she painted black over white, so every little chip showed up really easily.  She used the best quality paint that she could find for the job and prepped it all…[Read more]

carpe_diem wrote:
Hi Beth et alBear in mind that house prices in Australia are  at an extreme in terms of income to cost ratios.  It is (or at least was) up there with the US, Spain and Britain.  Not so many years ago you could buy a house in Australia for 2.5 times the level of income and these days you pay more like 7.5 times income.   In the…[Read more]

I assume you have calculated all the selling costs (capital gains if not PPOR,edvertising,egent fee's ect ect).You would have to sell it for a a substantial increase to even bother.Then you've got all the buying costs of the next one (stamp duty,conveyancer ect)Sounds like a whole lot of hard work.Way to much for me and I've done reno's on my…[Read more]

My best advise would be to always use investment property experts who are currently successful and doing what you want to do.I am always happy to pay for an expert in property investment tax,mortgage broker,solicitor/conveyancer ect.I have learned to seek out and pay for the best advise every time.The more I learn,the more I realise how crazy it…[Read more]

It is crucial to only take advice from people who specialise in your question and are doing it them selfs right now.That means that you don't go to your local accountant for advise on buying property in trusts.They don't specialise and will almost definately won't be 100% up to date on the latest and best advise. This is a golden rule and have…[Read more]

As a rule, time is not the issue but rather equity. I never purchase another property until I have 20% deposit and a buffer amount to last me 3-5 years.By buffer I mean the shortfall between rent recieved and all other outgoings like interest,council ect.Without having a buffer (either in savings or in a line of credit) , then you are speculating…[Read more]

Scott No Mates wrote:
There is a product on the market from White Knight which is made for painting over glazed tiles – visit hardware heaven to pick up a can. Alternatively, if you want a professional job, there are several companies who will respray tiles and baths on site – this is quite effective and does not scratch off although like…[Read more]

perpetrator wrote:

WJ Hooker wrote:
Have you ever seen a course at tafe for fire alarm testing !!!.

Um, yes I have.

This is definately not nessasary according to legislation and thats all that matters.As a previous poster said-it can be done 1 month prior ect ect by the landlord. I let a pro company do my hard wired alarms but there’s no…[Read more]

Sydney market under 600k is on fire.Its like a buffet line going through the open inspections at the moment.Even if first home buyers grant was taken away,they are only 15% of the market.Interest rates are low and will go lower.Investers like myself are definately getting in.I can feel the competition when putting bids in on properties.Immigration…[Read more]

ummester wrote:

harb wrote:
How will the bottom fall out of a $400K market if you need $500K to replace it and because of increased population numbers there is an increase in demand ? 

Some ideas follow. Some could be prolonged but some are impossible to avoid in the short term. I will note those with an *1 – FHOG boost gets taken away.2 – U…[Read more]

Qlds007 wrote:
Sure whatever.Personally i have my portfolio structured that i can live of the rents for the rest of my live and have no need to ever draw on the equity. With a LVR now at 13% over 30+ properties  i expect to have the entire debt paid off in 18 months. Everyone to their own i guess but LOE is not for me.As time goes by i will…[Read more]

WJ Hooker wrote:
shanematt,                    I congradulate you on doing a good job so far with your properties and asking for peoples inputs.I personally still think you are relying on property growth for the next 10 years or more to be as in the past, which I don't think is going to happen, but even if it is much less then you will still do…[Read more]

Dazzling wrote:
Thought I'd ask the forum what type of vehicle they drive…maybe in the hope of seeing a wide variety of, and number of vehicles. Dr Stanley of the American "Millionaire next door" series had a great list of cars that the wealthy drive…and it wasn't what you'd expect. So, I may as well start off ; We are a one car family,…[Read more]