For those gen x’ers, super should be viewed as a bit of a top-up over and above your own investments for retirement.
Most gen x’s would be mid-30’s (oldest), so they are going to have at least another 30-40 years before they retire. Surely that is enought time, to financial independence.

James

There was a test done this morning on the radio in Melbourne about the time and cost difference coming from South Melbourne to the respective airports.

I think Tullamarine took 29 minutes and cost $46 whilst Avalon took 46 minutes and cost $74.

James

Maria,
There should be no issue that your boyfriend rents from you. Anyone can own a property and rent. From a taxation viewpoint as long as the rental is at a market rate, then from a deductions side, there are no complications.

James

Sommo007,
Are you comfortable with the concept of renting whilst investing in an IP. The reason I ask is that many people have a preference to own their own home before they start investing.

However as you have seemingly indicated, a home today may stretch you and saving money for a deposit is difficult, because the average lon-term rise in…[Read more]

Johngee,
I have recently re-financed. Settlement was Friday 13th (this month). Any questions, let me know.

James

Does anyone know if there is going to be a Melbourne Property Guide? I thought I recall seeing that the Age was going to do something similar.

James

If summer holidays are 4 weeks, then what would they be doing anyway during the school holidays throughout the year?? (Approx another 4-5weeks)

James

My best friend and his borther do something very similar.. The brother is a builder (with his father) and they have invested/developed property together over the last few years. They also do it through a trust structure.

They are all very like minded and their goals are very much similar. I think if you & your borther have compatabile…[Read more]

Neo,
From what I understand, if you take the equity from your IP to your PPOP, that will not be tax deductible, however, that does not preclude it from being a good idea.

If you take interest only and take up a facility on your IP to 80% LVR, this will give you $28k to reduce the loan on your PPOP, which you will be paying P&I.

You may also be…[Read more]

I agree with Kym. Once you set up the template spreadsheet, it will pretty much do the same thing for you. It will probably be more flexible (tailor it to your specific circumstances) and ultimately cheaper. Of course you need a little knowledge of excel to do it.

In saying that, I have never actually bought one, so there maybe other benefits…[Read more]

If the bank does one are you entitled to a copy?
No. The bank does it to satisfy themselves that the purchase price is not substantially above market price to protect their interests.

Validity? Not sure

Is there a way to avoid getting a new valuation every time you seek finance?
Each financier who takes over a mortgage over a property will need…[Read more]

Not aware of financial advisors that wouldn’t steer you in the direction of shares, bonds, cash (or a combination of all).

I would suggest a good mortgage broker initially (and one who has invested in property), there are many on this forum who would be able to help. This will confirm what you can and can’t do initially. A good accountant as…[Read more]

I admit I know absolutely nothing about NZ, however, if the news is in the papers, I would say (as a general rule) it is probabaly too late.

There are others in this forum who have experience in NZ, which have been expousing the potential for some time now. They should be able to provide some better information.

James

Thanks Simon

Yes, they own the land. Any recommended web-sites/contacts where I might be able to get more information on development/construction finance.

James

Tell me Jack, what are the spoils of this victory??

James

Jack,
The purpose of the forum is for a free exchange of opinions and beliefs.

Your response to Mel I believe, is overly emotional and personal. Did not Andrew Hewitt recommend a deed of arrangement as clearly the best course of action to maximise creditors’s returns.

You have obvioulsy made your opinions well known (in another post as well)…[Read more]

My suggestion (a little different), is to
1.know/learn the market value of your property before giving it to an agent to sell.
2.Choose one (1)agent based on your criteria
3.Set your reserve based on your research.
4. Incentivise the agent with a significant commission over your reserve price.

ie Property Value (based on comparable sales)…[Read more]

Many factors will dictate capital growth, however I base my opinion on the following;

1. Feedback from agents selling them
2. No land component
3. Usually very small in size (less than 50m2).
4. There are many serviced apartments that have come on-line throughout the 90’s.
5. There is a different risk level – reliant on the skills and expertise…[Read more]

Some interesting snippets of information about SE Qld ie Gold Coast.

I currently work for CUB/Fosters (located in Melbourne) and one of our plants is located in Yatala (half-way between Brisbane & SouthPort/Surfers). Over the next year, the capacity and output of the plant is doubling. It will be in by mid-2005, of equivalent output to…[Read more]