Hi Onewayup,

We live in Europe as well having moved recently from Perth. We are about to settle on our first IP bought from here. I started researching in about June and we have ended up using a buyers agent. There are a few out there who will basically organise it all for you (for a fee obviously). You need to work out what you want from…[Read more]

LVR is Loan to Value ratio, ie how much are you borrowing. For a lot of lenders the 80% limit is where you start paying mortgage insurance so it’s a fwe grand on top of the purchase price, often why people talk about 20% deposits. As an expat I initially was only being offered 70%, so had to come up with 30% deposit through cash or equity to…[Read more]

Hi Zaksta,

We wanted to travel but having big loans and working in Australia makes it expensive, so we are now living and working overseas. I see this as a way to have our cake and eat it too. But, buy your house before you leave, get the FHOG and then get someone in to rent it out. Once OS you can pick up the cheap deals to travel. Granted…[Read more]

Hi Bob,

We have just come to Scotland and in a similar position to yourself, have a PPOR in Perth and wanted to invest through using the equity in the house. We are settling on our first IP from here in the next few weeks, hopefully first of many. Being over here certainly takes some of the emotion out, we used a buyers agent but you need to…[Read more]

Aberdeen, Scotland but from Vic Park in Perth.

Hi Mei,

Maybe not quite canals but you could check out http://www.epra.wa.gov.au this is the site for the East Perth Redevelopment Authority. They cut one inlet there a few years ago where there’s a lot of big houses with price tags to match. Blocks sold for under 200k in early 90’s and houses now over 2 mill. They are planning a big redevelopment of…[Read more]

Currently at about 73%. Have just convinced the bank to allow us to go back up to 80% even though considered an expat and outside their normal criteria – nice to have a win there and not have to pay the stamp duty and exit fees to change!

Getting the PPOR and IP revalued to go for IP number 2 to take us back to 80%. Only beginning so agree with…[Read more]

Hi Mallowe,

I think this is great, currently I’m trying to get my head around the next steps to take. Like many others I suspect around the place we took our first steps with a -ve geared property. Now looking deeper into what is the reason for investing? Trying to replace the dependency on a full time job so that time is free to do other…[Read more]

I’m also an expat working in the UK. Recently was looking at a deal in Oz and asked my bank about finance. They then told me that for an expat their lend criteria changes to 70% instead of 80%.

We have our PPOR rented out and another -ve geared IP, and would be in the 70-80% range at the moment, I was looking at using equity to buy +ve cashflow…[Read more]

Hi,

Thanks for the responses. We are going to get a couple more quotes, plus I’m going to look at replacing the old r/c with a cheaper evap and keep the ducting, and also just what a split system would be.

Won’t be rushing into this so we can look at options and decide the best course.

thomasp

Hi,

The place is in East Perth. We’ve had a couple of people look at it and both tell us it is knackered but so far only one quote.

The reason for fixing is mostly to do with renting it again, lease expires in January and the tenants are not intending to stay so trying to make it easier to rent in the middle of summer. Not in a hurry to spend…[Read more]

Hi Dr X,

Property would be 95k, with rent of 777 per month (9324 pa). Management of 7% (632 pa) and fees of 2823 pa (strata, water, council).

I have had a look at the calculator by jaffasoft and it was marginal. Property in WA for stamp duty.

Also my bank manager told me they won’t use residential equity for a commercial deal, which means I…[Read more]