You have to be careful with contracts, wording is everythingIf it is subject to fiance that only means can you get out if the bank won't give you a loan, has nothing to do with the valuation.  If the fiance clause says it is subject to a satisfactory valuation then you are covered. I have always preferred to give a figure on the valuation clause…[Read more]

Thank you mike for the report.  Very interesting read.Thank you againKane

Hi GaryI didn't have any problem with the Banks due to the NRAS but i did have issues with valuations. Some valued the new property low and some valved my PPOR low (for the LOC). Ended up with the NAB. They valued the new property at the going price, paramount said the vauler they use is on the panel for the NAB . They valued my PPOR 10k low, the…[Read more]

Hi GaryIt was paramount i went with. There are other ones i wouldn't touch but that was mainly because too much of the development was dedicated to the NRAS scheme. There wasn't a good mixture of home buyers, private investor and NRAS. I personally feel that these types of development could end up as a bad area. Especially the apartment…[Read more]

Hi GaryThe property was completed at the end of November and was built to a good standard. The tenant has been great so far, no problems with rent, their employed and they keep the property clean( a little early to make a full judgment).The developers have been helpful and understanding all the way through (issues with banks). They seem to be…[Read more]

These guys were quite good to deal with.http://www.piedu.com.au/RegardsKane

Hi ChillbabyThank you for that info. Currently waiting on finance for property in TAZ, if that falls through I'll give them a ring. Have had contact with them before on a another property in andrews farm in adelaide and they where good to work with.Kane

I have decided to go ahead with the NRAS property in Taz and I am currently just waiting for the bank valuation to come back for finance.  I was looking at doing a new build anyway so the government rebate just helps make the property more attractive. If the scheme gets canceled by a future government  then the rent goes back up to the market v…[Read more]

Hi wealth4lifeI got interested in this scheme because the the government payment makes some of the properties cash positive. You still get to choose your tenants. They don't need to be unemployed to be able to rent the property. Single person can earn up to 50K and a couple with kids up to 86K.  Would stay away form developments with a large…[Read more]

Hi DeeThe winners of Round 2 of the NRAS submissions are meant to be announced mid this month. Hopefully there are some investment companies involved in SA.  If there is larger group allows people to bring there own properties in they will charge a fee for the managing the NRAS component and the tenacity management. The property also has to meet…[Read more]

Great tip ThanksKane

Hi DanThank you for your feedback, this is the type of information I was after. Looking at doing a new build as part of the NRAS scheme and Rokeby ended up a slightly cash positive investment. As an investment this is the market I'm aiming for, generally with blue collar workers there is always demand for rental accommodation and they are decent…[Read more]

You can get the ANZ breakfree package. You get the 0.7% off and you get the offset account as well. It costs $340 a year but you make that back in savings.CheersKane

Hi RichardBoth properties are in SA, the GCT on the IP will not be much as this was my PPOR until 12months ago. Currently getting between 85-100k a year so im at 41cents in the dollar. PPOR is at a variable rate and the IP is fixed but am willing to break.RegardsKane