Hi Ryan,

Quote:
Is Steve talking about the AUSTRALIAN market or the AMERICAN market?

   Bingo!!    You may have just hit the nail on the head, Ryan.   The book came as a gift when attending Steve's seminar on investing in commercial property in the US.  He shared the stage with "Uncle Zally" who is an investor from Florida.   So, it could be…[Read more]

Hi aussieguy,

  And welcome !!     I'm not a wizz on this stuff, but I had a thought or two that could help others to help you……

  First off, I read that you "bought PPOR in Sydney in 2009, and lived in it for 7 months".   All good.   Later, I see this – "so I figure maintaining the property in Sydney as our PPOR would be more…[Read more]

  Some very interesting insights coming out here – thanks for those, Jac, Wilko, Qld007, etc.    It all helps to get the bigger picture…….

Benny

Hi Wilko,
   Can I draw you out on one point that I am unclear on….

Quote:
Im going to take person 3's offer. If they don't get finance or default on the contract then at least im protected in that i have their large deposit and then if the market downturns and you only sell for 400k they can also sue to get the difference in Loss of selling…[Read more]

Hi Hari,

Quote:
Do you think it is good or bad they are investing in Australia

  I have no issue with overseas investors from any country, Hari.  

  My point was more that some of the current laws seem to have "unintended consequences" – like, creating negative spikes in values for Mum and Dad investors here.

  Can you see that the FIRB laws…[Read more]

Hi mwb,
  Thanks for the extra info – it all helps…..   Here's a few thoughts and opinions (I am not any kind of "adviser", so do check things out with your advisers – accountant, broker, etc).

Quote:
….. how can I better this scenario?

  1.  There is $10k of "lazy money" in that Offset Account (and growing, as that P&I loan gets paid…[Read more]

Hi Freckle,

Quote:
Believe me there's nothing new in finance.

  You are probably right – but it is new to me, hence the question.  Just wanting to understand a bit more about WHY/HOW it might work….. 

Benny

Hi Ramki,
  I find that question a little difficult to answer without knowing more about your requirements.  e.g. "top 5" in what context?   Sounds like Capital Growth, but over what timeframe?   

  e.g.  If I quoted a market that could double within 3 years, but there might be another that could triple in 5 years, which one is best for…[Read more]

Quote:
Mellor estimates 17,000 apartments will be built in inner Melbourne during the next three years

  Many years ago, I became aware of a useful piece of knowledge that has had me very wary of apartments ever since….  

  In short, the FIRB allows overseas investors to buy new property only.   I heard back then that around 50% of new…[Read more]

Hi Paul and Marn,
   Congratulations – I don't know much about leasehold (is it in Canberra?) but the other numbers all look pretty good to me.   Bonus that your skills as a chef can add even more value.

   A bold move, for sure – but then, "people businesses" can do very well if the owners like meeting people.  The attitude shows, and the…[Read more]

Hi again,

Quote:
Thanks Benny, are you property investor in & around Brisbane?

   Yes.  I kicked off in 1999 after spending almost a year "boning up" – going to seminars, meeting good people like Steve McKnight, Jan and Ian Somers, and many other PI's from all around the place.   The knowledge gleaned from them helped me to gain the confidence…[Read more]

Hi Darryl,
  Congratulations !!   What an inspiring achievement, especially for anyone else who doesn't earn a huge salary.  My hat is off to you.

  I'll have to go seek out the mag for myself, so I can read up on how you did this.

Benny

Hi Danny,
  and welcome !!   Good on you and BIL for looking to make your futures brighter.  I don't know of anyone in Adelaide, but many people learn an awful lot just by hanging around on here – reading, asking questions, etc.   

  Since we all "Don't know what we don't know" when starting out, picking the brains of someone who DOES know is a…[Read more]

Hi Ramki,
  Welcome aboard !!   The phrase you mentioned was unknown to me (though the wording indicated what it might mean).   So I went Googling!!

  Go here for explanation…[Read more]

Hi DM,
  What market (city/suburb) are you talking of? 

  With 10 years of no/little growth, is it time for these "dogs to have their day?"  Or not? 

Benny

Hi mwb,
  And congrats on your first post….      I agree about the site too – there are some absolute gems sprinkled throughout (posts and people!!).

  Re your situation, why not tell us a bit more about the other side of things (e.g. incomes, costs, locations, etc) so that the good folk on here can give you the benefit of their knowledge.  …[Read more]

Hi Squiresy,
  It is always good to see in-depth questions – well done.  Shows you are looking for a way forward.  

  There are several on here who will add more of value than I can, but from my more limited knowledge, what you are proposing sounds like it would need some trade-offs to have it work.  e.g. by going guarantor for her, I believe…[Read more]

Hi Kurtuk,
  Good work !!   I think a valuation will add a bit more certainty to your current situation. 

 A quick Google told me a little about Eatons Hill –
 http://www.realestate.com.au/neighbourhoods/eatons%20hill-4037-qld
  I was particularly interested by the number of "buyers looking" in that suburb.  Sounds to be a bit sought-after -…[Read more]

Hi TM,

Quote:
If I take out a Interest Only loan in my name and have an offset account attached to it- is this okay???

  I love what Offset/IO loans can do for us.  As such, it sounds ideal to me – but, I am not a mortgage broker, nor any other qualified adviser – so do be guided by what others on here with the right credentials might…[Read more]

Hi again,

Quote:
Are there any other options out there?

  Yes there are….

  You may not like some/all/any, but here are a few thoughts that might guide you in one way or another.  I’ll summarise each, but if one particular option seems to sing your song, then jump back in to ask for more info re that one, OK?

First though, in what area is…[Read more]