Hi scotty,One thing I'd watch is your access to equity.  The figures you show (430k owing, 185k loan) will not necessarily give you access to the remaining 245k in equity.  Loans will typically go to 80% of the value of the property but you can go higher with mortgage insurance.  Just how high you can go I am not sure (90%, 95%?), I'm sure one of…[Read more]

Hi Frugal,I reckon you nailed it yourself when you said "I suppose it comes down to my ultimate goals".  So … what are your 'ultimate goals' and what's the best way to achieve them?  Do you want quick cash, capital growth or passive income?  What level of risk are you comfortable with?  How much time and energy do you have? etc.I'd like to ask…[Read more]

Hi Jaffa,Can you explain a little more?Regards,Andrew

Hi DWolfe,I would say the one thing that stings voters into action more than anything else is the 'hip-pocket nerve'.  If there is a big scary tax on the horizoin that's going to make the sky fall in then it's time for any government to to brace themselves.  This will play on voters minds right across the country even if they are not being taxed d…[Read more]

Hi Mick,My costs are inflated due to requiring a VCAT hearing, redrafting, additional surveying etc just to get the TPP.  Check this thread as I think it has what you want. https://www.propertyinvesting.com/forums/property-investing/value-adding/4331700Regards,Andrew

Hi Marie,Check this thread https://www.propertyinvesting.com/forums/property-investing/help-needed/4332481There's some good information in it to help answer your question.Hope this helps,Andrew

Hi Micklo,I have just completed a subdivions in Greater Dandenong and it was smaller than 300m2.  The main thing they needed to know was that it met their codes/requirements/fancies etc.  Apart from residential zones and other 'character' requirements overshaddowing, overlooking, private open space, are all issues to consider and it is worth h…[Read more]

Thanks ambosh,The one I am familiar with is the 11 second rule (i think that's what its called).  on 400k property rent would need to be something like $3460 pcm.  I find it hard to find a property that fits that (admittedly I've only just started looking again).  1% rule is a lot more conservative.   Are either of these really a useful guide as a…[Read more]

Hi,I'm just wondering if anyone in melbourne's east is interested in catching up about the tax lien seminar.  It might be good to go over the information again.Feel free to post or PM me.Andrew

Hi B,Welcome to the forums!  It's great to see that you are looking to take action on property investing but are asking questions and starting a process of due diligence first.I'm not that knowledgable but read some stuff on these forums recently that looked at some of the issues in buying off the plan.  Is it in an established area or a new e…[Read more]

Hi Ambosh,About 300 people attended a workshop on investing in us tax liens.  Having a no fee account for banking US checks was one of the key elements for would be investors who didnt want to have their returns significantly eaten into.$200 to set up an account could be the best deal if you can deposit checks without fees and dont want to pay…[Read more]

Terryw wrote:
yes you can. Offsets are usually just like normal savings accounts – except for CBA.

Terry, I'm banking with CBA.  How are their offset accounts different?  I thought an offset was a simple mechanism to use the balance in your savings account to offset an existing PI or IO loan?  I was interested to see you say that CBA is di…[Read more]

Sounds interesting.  Is there a limit to 'life'.  Is this an unusual offer for a credit card (and who's the CC with)?  It sure beats the standard variable rate.  Perhaps I could refinance some of my home loan?Andrew

Hi Palmer,Can you explain what the 1% rule is.  I am not familiar with that one.Thanks,Andrew

It seems banking is a bit of a drama.  I haven't spoken with citibank yet but if I hear anything different from them I'll be sure to post it here.Ambosh can you present a cheque for Wells Fargo in Australia or how do you have to do it?Andrew

Thanks all for taking the time to reply.  I have found it quite helpful.Duckster, I have equity I haven't borrowed against and I have some unused funding in a LOC I can draw upon.  My LVR will be 40-45% once the IP is settled.Terry, thank you.  I hadn't considered putting an IO into the equation in that way.Number, appreciate the su…[Read more]

Well, It's half way through day one and we are learning heaps.  Tommy Senatore is absolutely fantastic.  I'm not quite ready to log on and buy (paperwork not withsdatanding) but I am confident I will by the time the weekend is over.  Andrew

Just one more sleep.  Good luck to all the early morning travellers, I admire you greatly I'm ready for tomorrow now, passport and photocopy – check, inet USB – check, wife – check, umm … did I forget anything?Andrew

hi Terryw,I have been reading about the 6 year thing with CGT but as I am new to this stuff I don't fully understand how it works.  Does it mean you can rent out a property for 6 years and not pay CGT if you have lived in it previously?  Does this mean you can have an alternative PPOR during this time?Andrew

Hi Andrew,An interesting aspect to the interest rate question is the upcoming federal election.  There are schools of thought that say the RBA is reluctant to raise rates around election times.  The excpetion to this rule is the last federal election where I am pretty sure it happened during the formal campaign.I presume that higher rates would p…[Read more]