Hi,

Welcome to the forum! If your looking for places to look for houses, some good sites are
http://www.realestate.com.au
http://www.realestateview.com.au
http://www.property.com.au (there’s a competition running at the moment to win NRL tickets. FYI [8D]).

There are more links to real estate web pages at the ‘useful links’ post and there is also a list at Web Links (left hand side of page <- )

Happy hunting!
Cheers
Sooshie []

There are no problems, only solutions

Hi,

I agree with Steve. Wow! From your post Mannie,
I’m amazed at how banks re-invent themselves in order to maintain business. I have very little financial savvy, but imagine being the head of one of these creative banks, just blows my mind!

I know what happened with MIRVAC in Cheltenham and so many investors got burnt. Rental yields around the suburbs are struggling (from my research) so I don’t think inner suburbs would fare much better?
I also was told to stay away from Inner CBD (is this because all the financial savvy people are getting in?). I must say, there is one thing to say for passive investing (ie Shares)for mothers and fathers!
How many Inner CBD apartments are for sale at present? I think if one waits another year or two, we’ll see a lot more on the market. Remember it’s just been a seller’s market… so…the reverse is true.

Interesting posts
Cheers
Sooshie []

There are no problems, only solutions

Hi,

Have you set up a family trust, or just bought the IP under you and/or your wife’s names?
I agree with Petters, use equity from IP to fund another IP. If the house is worth 260K and you owe 85K, then technically you have 185K, equity (correct me if I’m wrong). There are ways to buy IP with no money down, or little money down. Considering you both have low income due to studying, it would be wiser to go for positve geared, just in case a real big expense comes along (g-d bless children [])
Petters, have you included costs involved in purchasing the new IP, to come to the $200 up a week figure? I’m just trying to work out your figures [].
Have you got a good accountant?

Cheers
Sooshie []

There are no problems, only solutions

Hi Cris,

I’m no whizz at financials, so I just wanted to welcome you to the forum. []
I think the answer from memory is affirmative, it can be done, but I’m sure someone will respond to your post with more financial nouse then me (aren’t you lucky [])

Cheers

Sooshie []

There are no problems, only solutions

Hi all,

Well the posts get better and better []. I too used to play MONOPOLY and used to win. It’s been about 15 years since I last played, as I find the game is only enjoyable when you are playing with a certain type of person.
When I refused to break up my street (i.e. Fleet St) or set, I was told how selfish I was [], as I explained to those I played with, it was a game and that if I went about being charitable and breaking up my streets to make them happy, how was I supposed to build houses, then hotels and charge a higher rent?
I would try being charitable and in the end I would sit there having to mortage my cards, in order to pay their rent…[]
It really is a game of luck and the occassional good decision making.
I’m sure everyone knows about the Survivor series, it always amazes me how people make friendships and they know that it’s a game based on deception and manipulation [}]. Yet they talk about these friendships as if they’ve bonded and would rather give up the game than loose the friendship. Those who play to win are ostrasized and made to feel like monsters.
Real Life is much better, at least you can keep your business private and just worry about your own conscience and whether you can sleep at night.

Cheer
Sooshie []

There are no problems, only solutions

Hi all,

My Bro-in-law is building his house on his land (existing house has been demolished) in suburb of Elsternwick. The builders are in so much demand that people are happy to pay their fees even if it is really pricy. I nearly had an apoplectic fit when I heard the price (close to Nessie’s mentioned price)charged. I reckon it would have been cheaper for him to move house!

Cheers

Sooshie []

There are no problems, only solutions

Hi Nelutha,

Welcome to the forum and congratulations on taking that first step. There are some good books out there and Jan Somer’s is great, but might I just say that here at this site would be a great place to begin. It’s free [] and very informative. I have many books, but had I started here in the first place I would have known what questions I wanted answered and would have bought books accordingly, rather than buying willy-nilly.
This site covers almost all types of property investing, starting at the home page and then through to the forum board. There are some posts talking about books and also some links to other sites that have helped some of us answer questions.

Enjoy and welcome once again

Cheers
Sooshie []

There are no problems, only solutions

Hi,

Minimogul asked for this transfer,

This is her post:

quote:

---

Insurance…I was quoted $200 per year or $1200 per year.
$1200 for full replacement insurance and $200 per year for dollar for dollar insurance. I’ll take my chances with the lower amount i think, because it is only a really cheap house for rental. I guess after a year, or five, if it ever doubles in value, i could reassess?

---

Your wish is my command!

Cheers

Sooshie []

There are no problems, only solutions

Hi,

One thing I forgot to mention was that, there is a difference between choosing this profession and having to do it in order to survive. These women/ladies of the night etc are very empowered with who their clientele is and what their pay is etc. A tenant like that, is more likely to make sure your house is a palace and very welcoming.
I totally agree with Mathew about disease, violence and the like. I could think of worse people to have as tenants. I wouldn’t mind having renters like that myself. At least I would know that the women are not on the street, subject to any abuse that may come their way.

Cheers
Sooshie []

There are no problems, only solutions