29 – for a few more weeks anyway[]

Purchased all of property in the last year. Started later than I should have but making up for lost time

Try http://www.abs.gov.au

They have most of this info, particularly census data.

If you hold non principal place of residence you pay CGT on the profit at your marginal tax rate.

Burnie and Devonport are white hot at present. Rental demand high, rental property numbers low. It is mainly northern suburbs of the major cities that have the cheapies – a lot of housing commission areas.

Hi Pattie,

I have many properties in Tasmania and returns have been quite good. Unfortunately property has boomed in the last 12 months so the prices are substantially higher, making it difficult to find cash flow +ve IP.

Rents aren’t super high, but there is quite high rental demand at present. The prices just keep rising after more than 10…[Read more]

I invest with a partner and on my own. We have around 20 IP’s now – the rent on each place covers all H/L repayments. We don’t have any -ve geared IP’s until you start doing depreciation and travel at tax time.

BTW we have purchased 90% of these in the last 9 months.

You’ll really have to search hard – most of the properties this applies to are cheapies and in regional areas. Investigate widely into areas outside capital cities and check real estate institute member lists for some local agents and see what they have listed.

Thanks guys! This info is great if a little depressing. I wouldn’t say we are yuppies, its a far too expensive hobby to be a yuppie – no money left over for IP’s []

Thanks for the info guys. We’d like something nearish (within a few km) to shops and cafes – schools and parks not essential. We do like older style houses for ourselves, like terraces or victorians. Big yard not neccessary at this stage.

Polar Bear

They can find out. Usually checking credit history shows up finance enquiries by institutions, and if you pay the cerdit card by transfer, chq or bpay it shows up in bank statements that they check for good conduct.

Best to perhaps have the card in anothers name or just come clean up front – they don’t like being misled.

I like Hannah and Samantha. Not a fan of Indigo. Maybe you could name the bub’s first properties with the unsuccessful names[]

I guess its all relative. I moved from Tas to Sydney and even though I earn a fair bit more than I did, the lifestyle hasn’t really changed that much.

I’m not unhappy with what I earn but I guess more is always good, particularly when you go to one wage when having children.

My partner and I have looked at several of these types of deals in the past and there seem to quite often be gigantic management fees involved along with cleaning fees, laundry fees etc etc.

One we looked at was for sale at a large discount to the purchase price because the fees pushed the property into the negative and no-one wanted to buy it.…[Read more]

I’d check some of the more common internet sites like http://www.realestate.com.au or http://www.domain.com.au to give you an idea of what you can get in Melbourne for around $300k. You should get more than 1 bedroom with luck.

No need to repay FHOG as they have lived there. Settlement terms are whatever they can negotiate with the purchaser – even a year.

Is the lease actually 20 years or is 5 years with an option for another 3 blocks of 5 years? Options to extend leases are something that banks tend to throw around when they sell the premises while the bank is still in residence. They do have a nasty habit of not extending past that first lease period however.

I always prefer to buy houses as the…[Read more]

CBA are terrible to deal with. Missed settlements, lost docs, no accountability and all round poor service.

I think it’s a fantastic idea. The current curriculum does very little in preparation for work or life in general. It would have been nice to have a teacher like you.[]

Pricing Analyst who fell into property investment as a bit of fun with a mate. We have purchased around 20 IP between us in the past 9 months. Very quickly has become an obsession.

Strangely enough have been more content at work as I no longer really care so much about climbing the ladder – just want to buy buy buy.

Hi

No longer live in Launceston but did for a number of years. Still own several properties in the area and always looking at more.

polar_bear_1@telstra.com