Good to see Pete has weighed back in, and is taking some action and has benefitted from the considerable advice proffered.I'm 35, and felt just the same a year or 2 out of Uni.  I know myself, I was used to getting good things pretty easily: a Uni degree, overseas travel: left Uni with credit card debt ad Hecs debt.I've invested in real estate,…[Read more]

I think you dramatically oversimplify the Cairns labour market.While there are low income earners in Cairns: many working in hospitality at award or even below award rates (Offset by being on holidays, and often enjoying using backpacker accomodation or low rent inner city sharehouses), they are not the mainstream employment: Cairns wages might…[Read more]

Dear carpe diem,
That is the basic thrust of what I would personally consider doing in you position, but you need to educate yourself about the options and the risks. Pour a few dozen hours into reading through this forum and also somersoft.com/forums. This will add to your knowledge of handling the properties you have, and learn other peoples…[Read more]

Greetings
Sorry to hear of your illness, but glad you have such a great asset position to make life easier.
Personally, all my investments are in property, but if I had a large amount of equity and wanted cashflow in the current economic climate I would personally consider investigating
1) Maximising your available cash by refinancing all your…[Read more]

Greetings,
I have lived in Cairns for five years and own two properties here. By most accounts Cairns is one of the most promising cities on the East coast for property investment, with a large growth predicted for the next 20 years. It is certainly a great place to live, work and play, if you can handle the heat and wet season. A lot of locals…[Read more]

You need to talk to an accountant to find out how much you will actually get from a sale once you calculate agents fees, advertising, taxes etc. There is a lot to be said for long term real estate investment, because whenever you buy and sell you lose a fair amount of equity. However, I would caution against holding in a threesome without…[Read more]

Thanks, much as I expected. In that case I will definitely sell first to ease serviceability, and that should give me access to>20% deposit and settlement costs. Still will likely be exceeding my serviceability though, unless banks will consider rental income from completed project as well. I’m guessing there aren’t lo doc construction…[Read more]

There seem to be several large upcoming developments especially prestige land releases coming up. Locals seem to really like Mission Beach, and I guess it has potential to be “the next Port Douglas” (read next Noosa for SEQ), which is fine, but to me it lacks proximity to an international airport, and prices are already very high. If interest…[Read more]

You would likely find some positively geared property in commercial RE. Prices have largely plateaued in Cairns, with steady single figure growth likely in stronger areas, but a possible upcoming glut of units likely to lead to discounting down the track. Rents have been trending upward, but once again, a unit glut could slow that down.
Have to…[Read more]

I would say you have definitely missed the boat, but IO could be wrong…..
Prices have really skyrocketed: especially anything near the beach. Still, as a builder that might be ideal.. lots of people wanting to add value to their new, suddenly very expensive beachfront blocks and wanting homes to match. Wouldn’t buy there myself, just can’t…[Read more]

My Wifes Maiden name was “Dear”, and she received no end of jokes, usually relating to deer, so was glad to change. Her father was a cruise ship officer, and he worked with two other officers on one ship, named “Love” and “Darling”. Naturally their PA announcements caused considerable mirth amongst the crew and passengers.
“Darling, Love here,…[Read more]

One thought: you can keep this as your PPOR for 6 years after moving out if you wish: ideal if you want to sell it after a few years without paying CGT. Can’t neg gear it as well though. If you move back in within 6 years, it stays as your PPOG, and the 6 years starts again when you move out again.

“If you look long enough into the void the…[Read more]

Could you use your husbands income to service the loan, but use the properties purchased as security? I might be missing something but I wouldn’t expect a problem with this unless he is already heavily exposed.
If you want to make the most of cash, perhaps a reno or a joint venture would allow you to build up more equity.
Wish I had 250k cash to…[Read more]

The weather is gorgeous, 25-28 during the day, mostly blue skies with occasional showers to keep things green. Most nights get down to 20degrees, rarely below 15.

I meant to take the trip once you own the property!

Just searching Cairns at realestate.com.au turned up plenty of units in your price range, and also an ad for a cashflow positive…[Read more]

I have a couple of similar queries…
1. If you live in a house and claim it as your PPOR, then move out for six years, can you claim deductions such as interest and rates etc. or do you forgo these to maintain your CGT exemption (the latter I would expect)

2. I recently bought a house with my fiance. My name is on the title and mortgage, but…[Read more]

Hi Dev,
I live in Cairns and consider it a fair place for investment. prices seem stable: possibly growing at about CPI. You would not get much for 150k: maybe a older small house 15 min from CBD or older 1-2br unit within 5min of CBD. Returns are mostly well and truly negative.
HOWEVER, compared to prices, values and returns in larger centres,…[Read more]

To help you figure out costs it can be very helpful to use a calculator which will tell you how much you can borrow given your income, the monthly repayments, and other costs such as stamp duty. A mortgage broker can do this for you but I find it most helpful to do it myself first to have a play with the numbers and see what works best without…[Read more]