using a LOC is what i did. the tax breaks are pretty good, but as steve says in his book. know what your entry and exit fees are. I didnt look into this and came as quite a shock. Though after further investigation the entry/exit fees were good, but am paying way to much in interest rates which i hadnt calcualated on
For Melbear
am looking into changing my loan now thanks for your advice

Wow 306 hits on this subject and counting… didnt know i was so popular!
as for those of us in the know.
we have a business plan which involves:
a house of ill repute in some third world country
cold beer and nothing but jimmy barnes on a duke box,
and a free penicilin shot with every tenth beer sold!

I did mention to my mate about no body corp fees set up yet. i also told him to get an independant evaluation done, and get several different property managers in there to get a rental apraisal done.
And i agree with you that they are exy. personally i wouldnt buy one.
as for neg geared pos cashflow. i search for the properties myself. i have software that lets me cull down the amount of properties to have a look at.
sorry about the wrong web page address!

There is no way i’m betting against bill and axzzy. are you nuts 007, these two know what they’re talking about!.
good luck
shaun

I too, am taking bill’s advice. I am still “wet behind the ears” so dont know which way the market will go. Went to a seminar last night for 2 and 3 bedroom units 10 – 15kms around brisbane CBD. He assured everyone in the room that prices wont go down (he was talking neg gearing of course).
made a pretty good argument in saying that not all towns will go down (or up) the same way. My boss is looking to invest with this mob. The IP are neg geared but pos cashflow. Is the Brissy CBD belt still a good place to buy?

try this mob. i havent used them personally but they came highly recommended and i have met and chatted with them several times. once i had bought my first ip they said not to bother going through them as they charge around 600 dollars an hour. they are in sydney and they specialise in trusts and property. i wasnt worried about the price at the time but the recommended one of their associates here in canberra and he is brillaint.
heres the contact details:
bdo financial services
level 19, 2 market st sydney
02 92865830
give them a call, whats the worst that can happen (well you will have to pay for the call)
hope this helps
shaun

I didnt think of it that way! yes i understand with what you are saying. I guess i still have a lot to learn. Steve mentions in his book (somewhere) that he walked away from deals because he wouldnt pay what they were asking, even though they were still good deals.
you have given me food for thought
thanks
shaun

Please tell me if i’m wrong (a little confused)
with an IP, if you sell after 12 months doesnt that reduce how much capital gains you pay?

Shirly,
I live in Canberra, and have been looking at the price’s of 2 beddy units in queanbeyan. for those who dont know, queanbeyan is considered a less than desirable area to live. I dont mind it here as long as you know which area’s to live in (i’m a 4 minute walk to the main street and pub)
but i digress.
2 beddy units are coming down in price as are town houses.
try this web page called all homes

http://allhomes.com.au/c/ah?a=buy

hope this is some help. i’m keeping an eye on it carefully and will be ready to pounce when billfromoz says so.
hope this helps
shaun

i wish i had known about this web site before i went off the richmastery academy. Although the academy mob taught me alot, ive come to realise there are many variations on way you buy an IP, not just the way they said (which sounded easy at the time)