Wylie,

I like your formula – even quicker than 11 seconds!

I would be the last person to knock CG or negative gearing, as it’s how I’ve gained my equity. Capital growth can be very important, and let’s face it, CG is what the majority of people think of when talking about property.

However I have personally come to appreciate that capital gains…[Read more]

Hi cathnniv,

You mean apart from this site? [smiling]

You want websites or actual seminars?

I like to surf on over to Somersoft too, which also has a strong property theme.

Cheers

Dan,

Thanks for sharing. Positive stories like yours are good to hear.

Do you have another project lined up?

Best regards

Not enough info

Are you planning to finance 80% of the purchase price? If you’re financing 80%, the weekly (interest only) borrowing costs would be about 145 per week before holding costs.

Over a year, that would be less than $800 cash flow – not nearly enough to cover holding costs of rates, repairs, management fees etc.

If you left a 20%…[Read more]

Hi MissK

I find the most fun thing to is searching for a property – the world is your oyster! Where do you want to buy?

Play with figures – look for a property you’re interested in, then calculate the mortgage payments, find out how much the council and water rates are, rental price for the property, likely repairs costs, yield etc – best case…[Read more]

Hi MrSmith

Interesting you should ask, I’ve been thinking about negotiation strategies myself lately. The negotiation process is not transparent – hence why owners/REA’s can make money out of property by getting someone to pay more than the going rate if buyer doesn’t do due diligence/falls in love with property etc.

Without being able to see…[Read more]

Hi Steve,

I’d really like to see strategies for building wealth in this environment of rising rates and falling prices.
Possible strategies
– Build equity by paying more off loans
– Let time increase the value of property
– Carry out realistic analysis of holdings
– Investigate what we can expect by looking at previous economic cycles

etc

Hi Jaawz0224,

Why do you think it’s not worth the asking price? Did you mean to write 25,000? That’s very cheap?

No matter what the asking price, you can get info on house prices a number of ways. Some websites have limited info on recent sales/auctions. So if there have been recent sales in that area, you might get the info for free.

If no…[Read more]

That’s a question only you can answer…but you’d need to do extensive due diligence before making that decision.

If you’re asking, does everyone think that you’ll make money by buying now, that depends on so many things, including future events like when prices in that area will rise, and also your personal circumstances, and goals. What is your…[Read more]

Do most houses in Mount Isa have air conditioning?
Would you find it difficult to find a tenant for a house with no air con?

I know NOTHING about The Gap specifically, but I bought a property in neighboring suburb Keperra on the basis that I expect the northern suburbs of Brisbane to experience positiive capital growth for the next 5 years. So far, in the 3 months since I bought my property, that’s been proved correct. I know you can’t really predict anything on three…[Read more]

Hi,

A quick search of the internet showed me a lot of links to free lease agreement templates. Regarding bonds, you contact the relevent Rental Bond authority in your state, their internet address may also have pertinent information. But most importantly, learn the rules and regulations – or pay a professional to do so for you. It would be a…[Read more]

I think there’s too little info for anyone to be able to give an informed opinion…and only you/your father can make the choice…but for starters have you done a comparison between rent forgone versus mortgage interest saved?

Hi Monopoly,

Yes, I agree, if you’re going to sell, better to do it at a time of growth. When I first started looking for an investment property, I suffered from a bad case of the nerves, just like so many other people have/are going thru – e.g. what if I can’t rent it, what if I lose my job, what if there’s a tidal wave that washes my house…[Read more]

Hi Mgr,

What are you looking for? Someone to do the legwork of finding a property, or someone to actually buy/sell it on your behalf?

Regards

Swampy 30

Hi Hobnob,

Well I certainly wouldn’t call myself a mentor at all, but here’s my suggestions for what they’re worth.

You’d need to check again with one of the excellent brokers who contribute regularly to this forum, but my belief is you may not qualify for a “normal” loan thru traditional bank, therefore you’d need to get creative.

Would you be…[Read more]

Hi Mortgage Advisor,

Current lender is Macquarie. I got some line about them not making any profit on the loan because current interest rate is too competitive at 6.5% variable..Reason I had to go to Macqaurie in the first place is that I’m an IT contractor, therefore not permanently employed. I’ve been contracting for 2 years now.

Thanks

Swampy 30

Dear dhen,

I do empathise, I’ve been there myself. We bought a house near Byron Bay a year ago, and it sat empty for 5 months. We dropped the rent until we started getting inquiries, but no actual takers. Then we eventually found a tenant through a friend of our local friend – Property Manager had no success. We also took a risk on young tenants…[Read more]

Thank you so much for your reply!

I owe hubby a few cups of coffee now, cos I was wrong! I’m pleased with the answer though! Got to be worth a few coffees.

So sorry – I worded the question badly. I meant to ask, if we used the redraw facility to finance repairs, would that redraw still be tax deductible like the rest of the loan currently is?