Hi Mini, could i please jump on and get your lawyer’s details? I hope to get something there when i go over next month and i have everything in place that you recommend!
Please send your lawyer details to feral’at’ekno.com

Cheers,
Alison

I agree – walk with your feet.

Agencies are valued as a business by their rent roll; so by taking your property off them and reducing their rent roll, you have devalued their business.

Queensland is like another country with the mindset a lot of the locals have – usually more conservative and provincial in their outlook.

I reckon they’re great people even though they refer to us southerners as “Mexicans” because we come from south of the border []

The 11 second rule/solution is calculating whether a property has a gross yield of 10.4% or more.

Hi Kym,

1) No, neg gearing is NOT a bad idea per se.
This website is biased towards +ive cashflow, so you may find some replies will be biased towards this. If you want to get some excellent info at a more diverse forum, check out Jan Somers at:

http://www.somersoft.com/forums/

Somersoft is Australia’s largest forum and has a lot of industry…[Read more]

Good news if you’re in Melbourne and want to attend Steve Navra’s seminar.

I am delighted to inform you that the next course is scheduled for Saturday 12 & Sunday 13 July, at the Rydges Riverwalk Hotel, 649 Bridge Road, Richmond VIC 3121.

The course runs from 9am to 5pm on both days, and catering and parking are included in the price of…[Read more]

Read the bible:

“More Wealth from Residential Property” by Jan Somers.

This is the book that started it all and has the best info around. Written by a Queenslander for Australian conditions, Jan tells you how to invest in property and retire from it.

It is particularly good for the newbie investor.

Also have a look at:
http://www.somersoft.com/forums/

Sounds like this article?
http://www.jenman.com.au/NewsArticles1.php?id=1

This thread will be deleted soon because it goes against what Steve is trying to sell, but i’ll post it here again for those who may not have seen it. I posted a thread about it a week ago, but it was promptly deleted so you may not get to see this at all…oh well. So much…[Read more]

This is a dodgy part of St Kilda and you could do better for your money. It’s an extension of Grey St which is where a lot of Natasha’s streetwalk, and has lots of old blocks of units.

I think St Kilda is a great part of Melbourne and is a classic example of a suburb that has come full circle from a place that used to be where the rich went for a…[Read more]

Hi,

In the strict sense of the word, wealth to me is defined as assets minus liabilities.

However, financial independence is the key term and it is the ability to choose whether you want to work or not. It is the freedom to pursue your interests and hobbies without worrying about how to pay for the bills and groceries.

Ideally, i’d like about…[Read more]

If you’re after growth, you’d be better off investing in an inner city house as BDM suggests. You can get a decent period house for about AUD$500k in some of these areas that will show excellent growth if your view is medium to long term.
Remember that land appreciates and buildings depreciate.

It’s very highly unlikely that you’ll achieve any…[Read more]

I have to agree with G-MAN007, and would steer clear of these country towns with little chance for cap gains. To get a decent income you’d need about 30+ of these properties! Imagine the headaches with property management and the tax you’ll be paying.
I prefer unrealised gains that are compounding and aren’t subject to tax (CGT) unless they are…[Read more]

You need to look at the net yield.
Forget about the 11 second solution which is simply a 10.4% gross yield.

Divide the annual rent by the purchase price and multiply by 100 to get the gross yield.
To calculate the net yield, deduct the outgoings from your rent figure.

You need to consider the big picture and not get bogged down on whether it’s…[Read more]

Hi Ishta,
I think that’s a great return at 9.6%, and i’m sure you’ll find it IS cashflow +ive if you do your sums again.

I’d also go with Interest Only finance, try and add value to the property, and then increase the rent by $10-$20 pw after 12 months.

Hi Andrew,
I’ve also read a LOT of property investing books and i also agree that Jan Somers has written the “bible” on investing in property for Australia.

I’m sure Sooshie would also agree? []… unless she can name another great book that sums it all up so succinctly.

I also think about 25% is OK to allow for rental income expenses. In fact…[Read more]