Hi CH,
 

Quote:
I've done enough reading to know there has to be some sort of option out there, surely?

  I think you have already tried one option by posting.  Good start – who knows who might have an answer for you.  Right off, I'd say "Don't be in a rush" but at the same time, if that is a goal that you think may be possible, then work back…[Read more]

Hi John,
  A broker would be better placed to advise you of the current scenario with different banks.   Certainly though, there are many benefits of being able to borrow over 100%.  And there are ways to do that too, depending on each investor's situation.  

  You seem to have "what it takes" in my eyes (based on your input), but others would be…[Read more]

Hi John,

Quote:
Also does this mean when i go to purchase my next property ill not only need to save up for the 10% deposit, but ill also have to save up to pay the full stamp duty amount?

  No, you'll probably borrow 105% ( the extra being to cover such costs).   Assuming of course that your future goals include "growing your RE portfolio".  …

Quote:
e.g for MELB in eastern suburbs always had more capital growth than western side

  The East has a lot going for it particularly on the Eastern Seaboard of Australia. 
 1.  If travelling to or from work, the Sun is NOT in your eyes (assuming you work a 9 – 5 work-day.).
 2.  You are automatically going to be nearer the Coast with its…[Read more]

Hi Sampson,

Quote:
my mother thinks the brick one for location and thinks the newer house will go up in value a lot more than the older one. What do you think about this? The newer house is bigger too…will a 90 year old house still go up in value compared to the newer Brick home?

  Typically, buildings devalue while land appreciates – at…[Read more]

Hi Sampson,
  Just a few thoughts that may help you choose…..

  I feel the older home has a few advantages over the brick home :-
     1.  Closer to the university (question – will students pay an extra $5 to $10 a week to save a bit of time?)
     2.  "Recently renovated" (read – could be some useful Depreciation $$ just waiting to be picked…[Read more]

Hi Matt,

Qlds007 wrote:
Maybe i am slightly biased but i would always suggest using a Broker

  As one who is not a Mortgage Broker, let me say that I have found it to be a very good move to involve one. 

  As Richard says, a bank will not tell you that your circumstances would be better suited by another bank's product.   A Mortgage Broker is…[Read more]

Hi GL,
  You appear to have started three threads on the same topic.    I'd suggest you respond to this one (since you have had a response from Jamie) and leave the others to a Moderator to delete.  

Benny

Hi Christine,
  While talking to your Banker, do check out the "break cost" of any/all of your Fixed Loans.  Depending on what Interest you have locked in, and the lending rates today, you may be up for a huge cost, or nothing at all.   I would think right now, the break costs would be huge.   As I understand it, if they can finalise your Fixed…[Read more]

Hi Manolo,
   I was about to say "Welcome to the forum", but I see you have actually been around awhile !!   So, well done on your first post.  

  You've posted a fairly complete scenario, so I wanted to swing by and add a few thoughts as an outsider.  (Note that I am not an adviser of any kind, but others who follow often are – do listen to them…[Read more]

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]