Hi Madeinoz,

I don’t think so. Wouldn’t it make more sense to make your offer “Subject to a Valuation of the Property”, and “Subject to Finance”.

Otherwise you would risk losing the ppty to someone else. There is a lot of competition out there.[]

Good luck,
Del

Hi Richmond & Mini & Gang,

Richmond, you’re on. We’ll be tied up with our farm until Xmas, but then it’ll be full steam ahead with more reno’s. An extra pair of hands would be great. It’s very satisfying work, but heaps of fun.

Mini, to get a property at a great price, you have to find someone elses problem, (UGLY DUCKLING) and then find a…[Read more]

Hi Beancounter & others,

Yes, finding properties that meet the 11 second solution is VERY DIFFICULT at the moment.

There are A LOT of properties out there that ALMOST meet the 11 second solution.

Why not do a quick reno? You don’t have do go to the same extent as on “The Block”. Perhaps just a quick paint, new floor coverings & tidy the…[Read more]

Hi Davide,

Are you buying this with the strategy of capital gains or positive cashflow?

Using the “11 second solution” this ppty is far from a good return:

rent div by 2 = $147.50

$147.50 x 1000 = $147,500

annual rent = $15,340

Therefore, I probably wouldn’t pay any more that about $150,000 as I buy for cashflow.

If you are buying for…[Read more]

“The only failure is the failure to participate”.

“There is no traffic jam on the extra mile”!!

“There are no shortcuts to any place worth going”.

Del []

Hi vluu27,

I suggest that you do a “search” on:

Insurance, (in general)
Property insurance, or landlord insurance.

Happy reading,[]

Del

Hi amitash,

I also agree with the comments from RSTARR & TAS.

Wealth Guardian is great value for money. Much cheaper than speaking to your accountant in person about structuring, and it’s in lay person’s language, which most accountant’s can’t seem to speak in.

When you learn the basics about the different structures, then you should consult…[Read more]

Hi Spanner,

A personal favourite of mine (and other forumites) would be “Property Secrets Revealed”. It gives good comparisons between -ve geared and +ve geared property. It is 4 CD’s with a folder to answer questions etc… It’s a great starting point for someone, but with enough info to teach you stuff. Excellent value for money. []

Wrap…[Read more]

Delight,

I totally agree with Stuart.

Picja1 is not doing you any favours! I think you have probably suffered enough lately.

Accessing super is for your retirement. I don’t know much, but most of the suggestions offered sounded quite risky, and inexperienced. Sorry.

Del

Hi YoungGun,

Don’t want to “shoot you down in flames”, but I agree with MiniMogul. The bit about “Proceed with the jousting”, says to me that you are prepared to go higher. It doesn’t come across as someone who knows the value.

I also wouldn’t be putting it in writing before I personally spoke to the Agent. With the amount of interest in ppty…[Read more]

Hi Gazza,

I agree – go for it. However I was talking to a lady at a PI seminar in Feb this year. She almost lost her entire 5 IP’s in the Canberra fires this year. They were all in the one street.

Just a thought.

Good luck,
Del

Hi Dennis,

One thing to consider:

A block of 8 units would usually be considered a commercial loan instead of residential. Higher interest rates.

How would the figures stack up then?

Del

Garfield,

That’s something that only you can really answer.

If you buy a second hand car, would you buy it sight unseen, even if it had an RACV tenst done on it – probably not. A house will probably cost a lot more than any second hand car would.

Due diligence is very important. A house we looked at a few months looked like a bargain. Good…[Read more]

Hi Cremin,

Yours is a success story. That is quite an achievement and committment.

“Reducing your debt from $17000 to 0, and saving $25000 for deposit on first IP.”

You’re well on the way!

Del

Hi Max,

We can all relate to what you are saying.

Most people that I have spoken to from this forum don’t discuss the “property” thing with most friends and family. They just don’t understand, and simply nod their head, deep down worrying that you are about to lose everything that we’ve worked so hard to build up.

Stay tuned in on the forum.…[Read more]

Westan,

Interesting topic.

Our PI debt when our 2 settle in 13 days will be $700,000.

When you include our farm business loans, you can basically double that figure.[]

Scarey!!

Will & Del

Gianni,

We have properties in Stawell and Horsham at the moment. Nothing wrong with Ararat though, just havent got any yet.

I definately agree with everything Westan said about the places.

Caution about buying any sight unseen, as some areas around there have had a bit of ground movement with the drought. Just make sure you check the…[Read more]

Hi Alf,

Sory to hear about what has happened to you.

I guess it’s an expensive lesson in life.

Don’t feel naive, everyone single forumite, can probably think of something or someone they should’nt have trusted, or they’ve done something in their life that they regret. Nobody is perfect. (Especially one financial advisor).[!]

Well, it’s only…[Read more]

Maggie,

No, only older types, around 20 yrs+.

I just mean buying as many as we can.

New ones would usually be negative geared.

An old Turkish Proverb says:

“No matter how far you have travelled down the wrong road – TURN BACK”!!!!!!!!