Skippygirl, your assumptions are spot on and its nice to know of someone who have started the same way I have (though mine is -ve geared from day 1).

Yes I am considering the lease-option strategy as depicted in Steve’s book. I am in the process of doing research on it as it seems to be simpler than wraps. Its still a big step to me as I am a…[Read more]

I total agree with holding on at least the 1 yr to minimise CGT and if I do sell the apmt it will be after that period has elapsed.

I guess I’m a bit demoralised by how -ve geared it is and the effort that it will take to convert it to +ve geared.

I did some quick calcs and I would need to pump about $100K into the investment loan before the…[Read more]

Wow ! Thanks everyone for the quick responses !

The apartment is not new by any means. My guess is that it was built in the 70s or early 80s (I think). I have been trying to get hold of documents relating to the cost of contructing the building so I can claim my share of the building depreciation. But so far no luck.

I bought the apartment…[Read more]

Has anyone’s property been affected by the NZ earthquake and flood ? I saw it on the news yesterday and it was really scary stuff.

Hope the insurance will help out anyone here whose investment was affected by it.

Talking about authors, has anyone read the Anita Bell books ?

I am from moody (the weather) Melb.
I noticed that PM charges for Melb sururbs (5-7%)are a lot cheaper than VIC regional areas (7-9%).
Anybody from VIC care to comment ?

Originally posted by Derek:
Hi Falcon,

In general terms lenders will only lend to 80% of te value of the purchase. You, as the buyer, have to find the other 20% + costs.

This can either be done using cash (not recommended) or a line of credit set up against the value of an existing property.

…

Derek
derekjones1@bigpond.com

Forgive me, but…[Read more]

That is a very precise answer. I read up on the ruling you mentioned and it’s a bummer ! … Thanks !