Hey shralper,
Welcome. Which state are you in. I know in Queensland you can assign the contract but double stamps would be due. Also you will face CGT on the profit. Just remember though with looking at the deal if you make money but have costs……..at least you make money.

Enjoy
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(Andrew)

“”Imagination is more important than…[Read more]

I think you have an awesome resource there in your uncle. I (my opinion) think that residential is a better place to start because it is much more forgiving than commercial property. BUT…in saying that you may be able to leverage off your uncles knowledge. Why not ask him to help you out with looking for properties and get inside his head ?…[Read more]

Gotta agree with Peter here. 1.6 is thin but you have got to do what fits into your plan of investment. Do what brings you closer to your goals.

Enjoy
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(Andrew)

“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
Albert Einstein

Hey insider,
At this point in time I am buying houses closer to the $100K mark. I think the reason discounts may not be as good the dearer you get is because people do not look at discounting them on a % base but rather a $ base. So people see a $20K discount as being the same whether they sell a $100K house or a $200K house. The one thing I am…[Read more]

Hey Termite,
Welcome to PI.com. As to templates I have not seen any. As to your doubts and fears….you have to trust yourself. As to being free….yep.

Have you reno’d before ? How much are the sort of properties you are looking at ? What sort of Reno costs do you expect ? Are properties selling well in your area ?

I know you said you are…[Read more]

Why not have all rent going into the home loan and then having the payments coming at when they need paying. The power of idle money in your home account will accelerate the pay down time.

Enjoy
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(Andrew)

“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
Albert Einstein

Good questions Fullout. The bank will hold a mortgage on the property but that is unimportant to me. The real issue (for me) is cashflow and capital gain. Say you buy a house that pays for itself and drops $40/week in your pocket after costs. Is that a good thing ? If that same property goes up 10% (or more) in one year is that a good thing ?
To…[Read more]

Hey David,
I can’t speak for Steve but I know for myself I look at every property on it’s merits. I look at comparitive data and find out why the vendor is selling. I always try and getproperty fr 80% of market value. Now what is market value ??? It’s what I believe I could sell the property for the next day after I buy it. Makes life harder but…[Read more]

Hey Ed,
What sort of properties are you after ? What are your deisred goals from property investing ??

Enjoy
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(Andrew)

“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
Albert Einstein

I won’t argue Terry but I do know of some people who have got multiple structures and personal guarantees for them all.Nothing illegal just disclosing what the bank asks for. If there is a will there is a way.

Enjoy
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(Andrew)

“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
Albert Einstein

Hey all,
Just a thought. I noted you were saying the 11 second Rule. It is good to remember that it is the 11 second Solution. I am being pedantic ? No for me it’s a way of understanding it’s application. One of the tools I use when looking at property is the 11 second solution. If it passes this test then it fits a certain investment criteria.…[Read more]

Hey Greg,
Mate I ws wondering why you need to look overseas for investing opportunities. There are so many here at home that just need alittle digging. Unless you have close contacts over there you would hve to be very worried about being had wouldn’t you ??
Love to hear your thoughts.

Enjoy
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(Andrew)

“”Imagination is more important…[Read more]

When you start hittng troubles with the lending ratios, etc. why not start borrowing in another entity and start all over. Multiple structures lead to massive possibilities.

Enjoy
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(Andrew)

“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
Albert Einstein

I agree with these guys. QT… Quality Time. When I first started buying in the area I do 98% of my deals in I talked to nearly every agent in town to find who I would gel with. I found the one person who I happily do business with. 9 properties later and I am still happy. She calls me the instant something appears. I win because I get early info…[Read more]

It would seem that you could get the loan but Hubby could go guarantee for it. His income could support the loan. Check out Steve’s Wealth Guardian when it hits the pavement. Supposed to be very good.

Always worth talking to your accountant as well.

Enjoy
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(Andrew)

“”Imagination is more important than knowledge. Knowledge is limited.…[Read more]

Hey sooshie,
Melbourne will be a great chance to catch up. Looking forward to it immensely.

Enjoy
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(Andrew)

“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
Albert Einstein

Hey DK,
To the best of my non-accountant knowledge….If funds are withdrawn from a refinance and not used for investment purposesd then they are not deductible.

I was in a similar situation recently where one of my houses is up for rental renewal and it needs a minor reno. I would not get much more rent after the reno but I wuold get a great…[Read more]

It’s nice to know I have neighbours in Fairy land. I myself am regularly told by my clan that I live in Pixieland (which is just down the road from fairyland). It is interesting though now 1 year down the track with some successes under the belt how interested people can be. I try and buy books and share my books with my family but they more often…[Read more]

Some also get a valuation to ensure they are not paying too much.
Also a thought is a drainage/plumbing inspection.
Hope this helps

Enjoy
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(Andrew)

“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
Albert Einstein

Hey Viral,
The two places to go would be http://www.johnburley.com and go to the forum link.
Also to http://www.financewraps.asn.au and post on the notice board or forum..
John Burley is recognised as one of the big boys in the US for wrapping.

Enjoy
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(Andrew)

“”Imagination is more important than knowledge. Knowledge is limited. Imagination…[Read more]