Sounds like a very good idea. Just had a couple of questions on the use of this on investment properties though:- Is the cost deductable?- Can you expect tennants to have this cover prior to approving the rental? (this would help if you have multiple properties because it would cost Ibluedento $1050 a year to cover all 7 properies)Cheers,Shivasko

Buying the perfect property is difficult for people who have been in the game for a long time, so trying to buy the perfect property the first time may be difficult to acheive in your first go. Best thing to do is to educate yourself first and then based on your own personal circumstances purchase a property which fit the criteria that you have…[Read more]

Hi Sonya,

Just wondering which rural areas you invest in,

Cheers
Shivasko

Sometimes the company can be good but the PM you have may not be so good. You could even ask to have another PM from the same company look after your property. Someone who is more proactive.

Brendogs,My understanding is that it is likely to be difficult to get a long settlement. Mortgagee sales are likely to go to people who can offer a short settlement and generally unconditional. I bought one of these and these were the terms put on me for a sale at a lower price. You can get a good discount as I'm guessing the bank is looking io…[Read more]

Thats not bad, best I can get is 10%.For those who haven't played it here is the link:https://www.investorville.com.au/?intcmp=M928TryInvestorvilleCheers,

2009 was my start…bought 6 IP's (units) in total for the year..Whole portfolio is slightly negatively geared but hopefully the rental increases which are likely to come should make 10/11 a good year..

Hi Brunowa,With positively geared property this shouldn't be too much of a problem becuase the rent received should cover the expenses.I can see how with negatively geared property this would start to become a problem. However with negatively geared property close to the city and in prime locations, this is more likely to go up in value faster…[Read more]

Hi All,I was thinking or purchasing in morwell near midvalley. This area is close enough to Traralgon, Latrobe hospital, Churchill ,so it acts as a hub between those locations. Just wondering why Morwell would be your last choice? Rental seems to be fairly good and positive cashflow isn't too hard to find in Morwell when compared with Traralgon.

Thanks for the information guys – good to know it not the end of the world…I will look into having a trust to purchase my further investments however…Marx3bull – you mention that I have to "buy them a trust" – could you please elaborate on this…or did you mean that I should "buy them IN a trust"Kind Regards,Shivasko

thanks for the response guys:GOM – I have bought 6 properties with 5 which are neutrally geared (slightly positive) and the other one which is negatively gearedoverall position should be neutral taking all the properties into account. All bought seperately (not X-collaterised)Richard – I assume that if it does not affect serviceability then it…[Read more]

Hi MM,My understanding is that all you have to do is pay back the PPOR Concession back to the State revenue office (for Victoria). You still get to keep the FHOG (assuming you have lived in the property for 6 months or more which by the information you have provided above sounds like you have).Not sure if they will consider your circumstances,…[Read more]

Thanks for the report Mike,

Thanks Mike for the residex report,Much appreciated,Shivasko

Terry,you mentioned above that you can extend your IO loans if you qualify…what is the criteria to determine if you qualify?Also how long can you keep it IO if you qualify? ongoing forever?Thanks in advance,Shivasko

Thanks for your Reply FinSpec,I am in the Latrobe Valley area (Morwell) in Victoria,If anyone has had one done in that area could you please let me know who you went it and if they were any good. Otherwise if there are any national ones you would advise that would be appreciated (not many seem to want to go down to the Morwell area either becuase…[Read more]

Hi Matt,This is a free one from Comm Bank, don't know if this is the one you saw,http://www.myrp.com.au/getFreeReportPage.do?partnerId=1&widgetCode=FSRShivasko,

Thankyou all for your contributions, Yes the property is as Tenants in common. Richard, Terry and StumpCam seem to rarely give incorrect advice on this forum so I will take their word for it.I wasn't aware I could access that much equity. Guess I'll have to get back into searching for property again.Thanks again,Shivasko

Hi Mike,Thanks for the latest report,Cheers,

Hi Miike,My understanding is that:- Sewage and Parks Services — (paid by Landlord)- Water Usage — (paid by Tennant however water rates are paid by Landlord)- Gas and Electricity Usage — ( paid by Tenant)As SNM mentioned, utilities are under the tenants name in VIC