Have to disagree with a couple of you guys. This part of Inkerman St has really come up with a couple of really funky bars and restaurants, a group of retro arthouse furniture shops and a couple of galleries.This is also a Henry Kay development which means the latest in interior design as well as a home theter thrown in – the rents are going to be high. Next door is a redeveloped Lux building which is very smart.
If you are going to buy in St Kilda buy one bedroom as this area has a huge proportion of singles.
Good luck
Cookie

Hi Louise,
It is most likely this unit will be onsell rather than directly off the plan. The building of the Oasis is taking an awfully long time – I pass by it everyday and it is huge, but has been under construction for probably 3 years now. There is possibly a rental guarantee on this unit, which will not amount to much if the development is in trouble. The unit prices in St Kilda have dropped over the last 12 months – my mother sold hers in Aug last year, the unit next door which is better is selling now for $20,000 less. On top of that there is still oversupply of rental properties in St Kilda area.
Hope this helps.

Hi Ishita,
I set up my loans at 90%, IO for 5 years, I always do some improvements, with the bank setting up a condition that they then revalue the properties after 12 months and I need to take LVR to 85%, which I am confident the properties would provide via 5%CG. Because the return is greater than the bank interest rate they provided the funds for me without MI.
If you believe that there is potential for CG in the area than if your property grows by 5% in 12 months it is like you have “paid off” $9,750 off your property while having 100% of your loan tax deductable.
Good luck

Hi Louise,
I believe that books are for information and courses for inspiration and motivation, tapes are great too.
My husband has done Henry’s Business Mastery and immediately after it he recommended for people to do it, however over time he has found their mentoring/support system (which is supposedly part of the course) non-existant and has been extremely disappointed.
I have heard Henry speak on several occasions – the man is a genius, however I would not buy anything from his company.
The other thing to remember is that you need to find a presenter that mimics your personality and may be just a notch higher. Henry is highly enterpreneurial, aggressive risk taker and if that’s you you will be in that 0.5% that will take action and go far. If not, he will kick-start you but will leave you floundering
Hope this helps
Cookie
PS how do you find The Secrets of The rich?

Hi Violeta,
I think accountants think if you do not run your own business it is not cost effective to set up trusts – you are in a low risk category for being liable for large sums of money. However, once you start investing in property you cannot afford to expose yourself to being sued eg when you did not repair something on your property and a tennant broke a leg – your insurance will not cover you if you were aware of a problem and did not fix it.
So if you intend to buy more than one IP – set up trusts.
Good luck[]