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]

Hi Miger,
  I totally agree with Mark :-

Quote:
Renting where you want to live and investing where the market is moving can give you the best of both worlds

  With an IP in an area where it "works best" (i.e. +ve geared) and the income from it decreasing your rental cost (plus throw in Depreciation, etc to get Tax benefits) and you renting…[Read more]

Hi Jade,

Quote:
Whats the normal charges for depreciation schedule?

  I haven't ordered one in a few years now, but I recall $500 being about "the norm" back then (about 7 years ago).  A quick Google held a (possibly) pleasant surprise though – Google corpred.     Or maybe someone else on here already knows of them…..  

  I must admit my…[Read more]

Hi Kurtuk,
  And welcome !!   Depending on how long you have lived there, and whether you might have bought for a discounted price, the property value might not now be $540k.  We appear to be coming out of a 7 year slump in Brisbane (when prices hardly moved overall), and there are indications that values may be heading North, or have already…[Read more]

Hi Paterson,
  You might be new to this, but you certainly appear to have your thinking cap on…..  great questions.   Property moves in cycles (I often refer to it as like "stairs").

Quote:
Would it be fair to expect 1% per year without any changes in the area regarding company lay offs or infrastructure etc. – See more at:…[Read more]

Corie said it for me – I was about to offer a few "pro's" of purchasing an older dwelling…..  

The point made by Corie re "manufacturing growth" in an older place is well made.  

As well as that, existing homes often don't have any "wait and see" points associated with things like – neighbours, infrastructure, "tone of the area", etc.  The…[Read more]

Hi Paterson,
 

Quote:
So who would be notoriously good for planning to release equity in the future and grow your portfolio.  I know you can't endorse anyone but since this is all new to me are their known players in this field?

   Find a good Mortgage Broker (many of whom post frequently here – particularly in the Finance forum).  Read the…[Read more]

JacM wrote:
A big mistake is to pay off a property loan (as opposed to just pile spare money into an offset account).

Amen to that one JacM !!   And especially as you mentioned Offset account – they cure so many possible "diseases" !!

Benny

Hi again, Paterson,
  You're really getting into this – good to see.   Another seriously good question – I'll see if I can do it justice….

Paterson wrote:
if I have put $30k down on a $250k property, and have the rest on interest only mortgage, my liability is for the full amount of course but my investment is only the $30k and if I have…[Read more]

Hi Paterson,

Quote:
Is yield on a property the rent as a %age of the value of the property per year irrelevant of what out goings you have on the property ?

Yes, that is Gross Yield as JacM mentioned.  Gross Yield is typically a good "starting point" when considering purchase.   It can guide you to say "I can't pay more than $xyz else the Yield…[Read more]

Hi enc,
   Welcome !!  Sounds like you are in a good place with a chunk of change to use…..    I'm sure the possibilities are vast, but if you share a little more about yourself, responses might be able to be tailored more toward your preferences.

  e.g.  What age group are you in?   Do you want to limit your purchases to the city/region you…[Read more]