I'm with elka and Marc, but perhaps even more emphatically. Super is a lousy investment, IMHO, unless you've already built a very large portfolio and are approaching the age at which you can gain access to it.See my blog entry: http://www.somersoft.com/forums/blog.php?b=8Warmest regards, Tracey in Brisbane

aidanq wrote:
I can effectively hold the property, make a cash gain and use none of my own money.

Why are you here at the computer instead of down at the real estate agent's office making an offer?  Go, go, go!Good luck, and be sure to let us know how it turns out.Best wishes, Tracey in Brisbane

Ouch, guys – why do you have to get so personal??? Happiness is a state of mind; you can be rich and unhappy, and poor and happy. History is full of examples of miserable wealthy people, and very content poor people. And yes, also many happy rich people and miserable poor.I'm convinced that whether you're happy or not actually has very little to…[Read more]

I agree with Paul, that you should research your market. But I'd be willing to bet that >95% of the time neither of these items would be necessary (or even add as much value as they cost).Regards, Tracey in Brisbane

I'm in Brisbane but user Active Financial Answers http://www.activefa.com in Maroochydore for my accounting, and Calvin Kong at Munro Thompson http://www.munrothompson.com.au for legals. Both these teams are affiliated with Dymphna Boholt, who I think is an awesome property educator.Regards, Tracey in Brisbane

I hear you, Richard! It's certainly not cheap finance.But if NOBODY else will give you anything – or can't give you any money in a timely fashion – it can be a good option. In my case I contacted perhaps 5 different mortgage brokers and a bunch of lenders directly, and nobody would touch my project in terms of a second mortgage or a personal l…[Read more]

Try Capital At Call http://www.capitalatcall.com.au – the interest rates are high as the loans are only intended for 3 to 6 months, but the paperwork is simple and loans can be advanced quickly, ie within 24 – 48 hours. Great bunch of people with excellent customer service – very responsive and non-bureaucratic.Regards, Tracey in Brisbane

I own an 18-bed student accommodation in Brisbane. If it's well-located, you should have pretty much 100% occupancy, and contrary to what one might expect, you tend not to have problems with payments. Many of the tenants are foreign students and pay in bundles of cash a semester or year in advance! Just check that the body corporate payments are…[Read more]

R&R, forgive me if I'm telling you to suck eggs, but are you aware of the option to refinance rather than sell, and get access to your equity for more investing that way? For example, if your property's worth $250K you can increase the mortgage up to 90% of its value, ie to $225K. Given that you now owe $170K, this gives you an additional $55K in…[Read more]

A recent post regarding this company, which I think says all you need to know:https://www.propertyinvesting.com/forums/property-investing/help-needed/4323223?highlight=scheer#comment-166183It says in part: "I actually work in insurance and have gone with Terri Scheer  for my landlords rather than the company I work for (and get huge discounts…[Read more]

Snap! Yes, Active Financial Answers are brilliant. If you need a lawyer, Calvin Kong at Munro Thompson http://www.munrothompson.com.au is also brilliant. Both these companies are recommended by Dymphna Boholt, who's a very successful property investor. http://www.dymphnaboholt.com.au Regards, Tracey in Brisbane

cu@thetop wrote:
The banks don't like you getting too attached to one person because when they leave to startup their BOQ franchise they don't want all the customers following. 

Sounds about right….

crashy, I just can't resist doing a Darryl Kerrigan (The Castle) and saying… "Tell 'em they're dreamin'" Regards, Tracey in Brisbane

I think the days of dealing with an individual within a single institution are largely gone. I prefer to deal with a mortgage broker, and spread my business around a bit (partly due to the "all monies" clause). Of course I deal directly with the lender for routine matters, but if I'm experiencing poor customer service, I find that raising the…[Read more]

Jaffasoft wrote:
The Contract of Sale of $38,000.00 is subject to and conditional upon the purchaser obtaining a Planning Permit from the council authorising him to use the premises for residential purposes. 

OK, I did misunderstand; how is settlement happening before the permit, if the permit is a condition of sale:?  Perhaps I've got to re…[Read more]

Thanks, Nat, for the feedback. I'll definitely keep this in mind for next time I need a landlord's policy. I'm generally a fan of using specialists anyway, but it's good to know that you've had good experiences with Terri Scheer.Regards, Tracey in Brisbane

Hi N! I'm sorry, I'm fortunate enough never to have been in this – or a similar – situation, so I can't offer much helpful advice. But I did want to offer "tea and sympathy", for what it's worth. If your brother moved out 5 months ago and the rates are 2 years overdue, I'm assuming that you and your brother don't have a fabulous relationship, in…[Read more]

Jaffa, if I understand correctly that settlement only occurs after permission is obtained to occupy as a residential premises, then you'd have to have a shot at a residential mortgage, wouldn't you? Talk to a good broker – I suspect there are lenders around who "if it looks like a home and can be occupied as a home" will let you borrow on a…[Read more]

Talk to a mortgage broker to see if there are any products (low doc, no doc) which might allow you to keep expanding your portfolio, before doing anything drastic like selling. Even if you do have to sell, it may be worthwhile selling the properties into a structure, ie have your Trust (or other entity) buy the property from you. Talk to your…[Read more]

Um, $250 per week means you've got about 3% interest on your mortgage!!!    Hang on – I think you must mean cashflow negative by $250 per week, right? So rent $420 per week, expenses $670 pw? That sounds more like it! Well, that means about $13K negative per year, and if it grows at even a conservative 8%pa, it will increase in value by about $…[Read more]