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 set for youself (i.e must but neutrally geared or I can only afford to lose $100 per week but the property should have a growth >8% per year).

You will generally learn as you go becuase the books can't teach you everything and the book don't base the knowledge they give on your circumstances.

In saying that tho, puchases should be educated to certain degree and not a random selection.

If you still dont' feel confident after reading and educating yourself then mentoring programs may be the way to go. At the end of the day everyone needs different levels of motivation and support based on their circumstances.

Cheers,

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.

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 than the regional areas (subject to some debate) and hence give you a faster increase in your equity. But the downside is that you won't be able to afford more properties.

You need to show serviceibility with your loans and with postive cashflow its easier to do so.

Also borrowing greater than 80% and incurring LMI isn't as bad as it sounds hence reduing the amount you will need to pay upfront.

Hope this makes sense,

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, however worst case scenario will be that you will have to pay back the PPOR concession,

Best to call the state revenue office and ask them directly,

Shivasko

Thanks Mike for the residex report,

Much appreciated,

Shivasko

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