This is a pro-property forum so you will be told to hang in there, whereas if you posted on a property bear forum you will be told to get out now. Noone can see the future. I was in your boat last year and sold up 3 properties and now rent with cash in a high interest bearing account and dabble a little in the share market. I havent regretted it…[Read more]

Seeing as noone has answered your question, here are a couple ways I find useful*Firstly, Richard (qls007) very kindly will do a free residex report for you. This will have the last sales*If you are friendly with a real estate agent, obviously not the one representing the vendor, you can sometimes get reports via them*If you decide to use a buyers…[Read more]

I think you'll have to be more specific than "finding clients for your deals" to get any advice.

Great advice duckster. Really appreciated

Your first point is the one that stands out to me I guess. The block is overlooking the river, which is why we would build on the frontage – plus a bit of a backyard. Resale would be there due to location I believe. Perhaps, like you say, the smarter way is townhouses (including the front), taking advantage of the zoning.I guess what I was asking…[Read more]

I never used them for purchasing anything. I went in to have a chat to their loan broker and was shocked when she said she would charge a fee for every loan she processes, on top of her commissions. She also told me about two lemon investments she had bought in the last year or so, which didnt impress me seeing as she worked at a property…[Read more]

I guess one example about false information is how everyone carries on about there isnt enough housing and vacancy rates are dropping. The stats from REIWA beg to differ – vacancy rates in Perth are higher than they have been for 8 years http://reiwa.com.au/research/listings-rental-trends.cfm All Im saying is dont blindly believe everything you are told!

Im of the opinion that people are just regurgitating what they hear on the news or from a real estate agent – mining boom, china growth, skills shortage etc without much actual research or knowledge themselves. So many people are getting into investment properties because they hear how someone else has 20% in a couple months and are being told…[Read more]

hey lachinovwhat I mean is if you sell the house, you wont have enough proceeds to pay out the loan in full (will you?). Therefore you will still have some portion of loan left, but no collateral behind that amount. Depending on the amount, I guess you could take out a personal loan to pay out the remainder of the "home loan". Very tricky…[Read more]

Would the bank let you sell and be left with around $100k of uncollateralised loan – that is the first thing I would look at. Seeing as you can only borrow around 90% of the value of a house these days, what does that mean if you dont even have the house?It is a very tough decision, it would take a lot to bounce back from that loss if you did sell…[Read more]

You're on the wrong forum buddy, everyone here is going to say hold and never sell.Try searching for a property bubbleforum  and you'll get advice to sell.ps. I sold my two IPs for that reason, but that doesnt mean its the best thing to do.

Hey Jimster, just keep in mind that this is a forum about property investing – most people on here are actual investors and have the view property prices are going to sky-rocket and you'll be priced out. Similarly, if you go on a property bear forum you'll be told people's honest thoughts that prices will drop slightly or by up to 30-40%.Its a…[Read more]

If you have $140k in LOC and owe $230k, thats a total of $370k exposure on the $475k loan. staying under LMI you can only borrow another $10k (80% of 475 is $380k) by my calcs and about $57k if paying LMI at 90%. Sound like you will be cross collaterlised too.if you want to borrow more, you will need to use your LOC as a 20%deposit  (or 10% if…[Read more]

Questions like that scare me! what would you do after the $50k disappears? You will also be paying interest on the $50k you are using to pay the other interest.generally you can only borrow 90% of the properties value these days

Hey coretexCheck out the corpred website, http://www.corpred.com.au . I stumbled across them earlier this year after being told by Deppro not to bother with doing a schedule on my place.Basically you fill out the details of your place and send it to copred. For free they will do a basic calc and then sms you back the expected depreciation for that year.…[Read more]

If you have the property as security on the loan then you wont be able to sell and keep the loan – maybe if you can use another property or something else though.The bank or a broker should be able to tell you for sure though

Hey NathanI just read your last bit about being fixed interest rate. Im not sure on the specifics, but you may be up for break fees for selling the house as well, similar to refinancing.

The best advice I can give is dont try and figure it out on an internet forum. Get a good accountant!

Thanks for the replies. I viewed the property i was talking about and it was closer to a main road than i thought, and had a massive gradient on the land. The house on the block was also uninhabitable. Looks like way too much work (and money) to me.

toni89 – as per my post above yours. I have had schedules prepared by Corpred and Deppro – both were of excellent standard. Corpred can be a lot cheaper too