Hi Mark,I think you should use a broker who has a clue. Whoever gave you that advice clearly doesn't.RegardsAlistair

The problem with speaking with local councils is that the people on the desk and who answer the phones are generally not decision makers, particularly not in capital cities. In rural areas things can be very different. I've personally made a lot of money buying property off people who have been given bad information by their local councils about…[Read more]

Congadulations on being in a great position. If you want to minimise tax and don't want to expose your PPOR too much you could also consider buy-reno-hold. Revalue your IP's after they have been renovated and draw equity for the next purchase. Given you have a strong income and no other debt, you should be able to acquire quite a few properties…[Read more]

No asccountant in Melbourne, unless you use one with a US office, is going to be able to help you. Even then, they will subcontract there local office to do it. It's easier to just go straight to a US accountant, you will need one anyway, if you do invest over there.

DA is called a Planning Permit in Victoria.Finance for 4 units, if there are decent margins is easy. I would disagree with the people who have said it is too big for a first timer, i think its about right. The margins and actual cash profit, for the time and risk required, are generally too small on smaller developments. I've been in this game for…[Read more]

You guys should catch up with Nigel. He has actually worked in realestate over there and has been involved in the US for a long time.

mortgagedetective wrote:
Gidday Alistair,So what you are saying is your client paid you a fee for service as a financial planner to get advice on income and loan structure as he could have done with any other suitably qualified and licensed planner.If your client were a prudent investor as you seem to suggest, why wouldn't he have simply taken…[Read more]

For people who do not want advice, and consider brokers to be simply a service for providing a comparison of lenders then rebate sertvices are probably appropriate. However, there is considerably more that goes into the final cost of a loan or porfolio of loans than just interest rate, further their is opportunity cost to investors if they miss…[Read more]

Hi Paul,Have there been many vendor financiers receive ACL's yet? The process is not particularly easy and most brokers have not applied for or received ACL's and a significant portion have not even fullfilled the compliance requirements to become Credit Reps of their aggregator. The first half of the new year will be interesting as there will b…[Read more]

I'm currently going through the process of getting NRAS accreditation for a development i am a partner in. We are doing it mostly to hold although we have sold a few blocks to other people and are including their blocks in the process. Because the tax free amount is set a $9,140 the scheme works better from a cash flow point of view, the lower the…[Read more]

Melbguru wrote:
I am wanting to get started in industrial property purchasing and wanted some information on how to start. Looking at the possibility of buying a 2560m sq block and putting two buildings on it. Land cost is $460k. Not sure on how much to build the buildings. I have been told the rental is 75 per sq metre. Total rental would be…[Read more]

Hi Mark,I encourage you to keep looking at ways to get the most out of you loan structure, there are a vast number of ways to do so, particularly for people with investments of significant value and even more so if they are self employed and/or getting to an age where they can access superannuation. RegardsAlistair

PandaQiQi wrote:
Hi all,I'm a newbie to this site but already enjoy reading from this forum.I have a BIG favour to ask. Does anyone know of a good property accountant in Melbourne? I have started my invenstment portfolio few years ago but only start reading books on Property Investment recently. I have a family accountant who doesn't like givi…[Read more]

itsandrew wrote:
Hi Nigel,I've found if something sounds too good to be true it usually is.So:if there is 100k+ profit in each property why aren't you flipping these for yourself instead of on selling them so cheaply.  (btw what is your fee/commission in all of this)?Why would someone discount a property >80%?  Surely even a 50-60% discount w…[Read more]

I would suggest not bothering with speaking to the council planners until you have a concept drawing for what you want to put on the site, as any opinions they give you will be meaningless. You would be better off concentrating on getting a good designer and consultant planner and take advice from them.RegardsAlistair

Investorarm wrote:
Hi people, i need some help regarding my development site that i have purchased the site is d/a approved for 44units. I have got the site with no finance it's owned outright in the sydney area. i want to start building it, regarding getting a building loan which is the bank has the best deal and also…how much $ do i have to…[Read more]

Hi Sparky's, why don't you keep the house but turn it into an IP, intead of selling it. There are a couple of advantages, firstly you can keep the CGT exemption for up to 6 years and you won't have to pay all the various costs associated with selling it and then buying the new IP. You are also obviously happy to live in it, so if things don't go…[Read more]

Thanks for the commendation DWolfe, I'm not sure who you are but i'm very flattered.RegardsAlistair

SuperSleuth wrote:
I have spent a lot of time investigating these property spruikers on behalf of the regulators so I have seen first hand what goes on behind closed doors. Many of these gurus are ethically and morally bankrupt and you can pick them because they do business based entirely on what they think is legal rather than what is moral or…[Read more]

A very small percentage of brokers are properly equiped to service investor clients. If you find a good one, wherever they are, i suggest you use them. There is a mindset amongst most people that brokers will come and visit you in your home and hold your hand through the loan process, but the simple fact is that those brokers who can effectively…[Read more]