PasandBec,

Though you have $100k equity, this is on total value of $500k (i.e. 80%) so if you don’t wish to pay LMI I reckon you’re stuck.

But then, you only need $15k as a deposit and costs for a $64k property – can you not use a personal loan or cc to get this? The interest might be a lot higher, but if it’s for a short period why not?

Even…[Read more]

Len,

Things do not compute. From statements 4 and 8, you appear to have $380k in Equity but in 11. you seem to have only $25k equity.

Something needs correction Is 11. giving correct numbers?

Benny

I’ll have to find a knowledgeable mortgage broker to discuss this further. Where would be a good place to look? Any one know of a good one??
Look at the last three replies carefully

Benny

From what I understand it seems to have some good growth prospects
Really??? With 250% growth in the last 2 -3 years, I wouldn’t have been so sure. Maybe I need to call DD too

Benny

Hey Dr. X,

You certainly raised a great topic, and you’ve had a whole bunch of great responses.

Well done. Most of the others have given all of the answers that I could have given, so I’ll just say “Great thread, and similar responses” – one of the best I’ve read here.

Benny

221D is the old name – but I can’t determine what the new name should be. I’ve variously heard of it referred to as ITWV, or 1515. But nothing on the ATO website that I’ve found has added clarification.

Try this:
http://ato.gov.au/businesses/content.asp?doc=/content/17023.htm&page=2#P8_289

I’ve found the ATO website is a good cure for…[Read more]

JD,

I think Herb offered some good suggestions there. And TMA’s comment about 100% LVR could be valid too. So combine the two and see what can be done.

1. Do you believe that Spring Hill values will increase in the next 5 years?

2. By how much? Is this more than what you are spending to hold on to it?

3. Could you refinance this…[Read more]

Wayne,

You said this
I’ve managed to speak to the broker, and he said that even though the valuer’s may re-value the 4×2, in his experience, he said it’s Westpac’s policy to only work off the 1st valuation…?
For what its worth, one of my two successes WAS with a Westpac revaluation. In that situation, the second valuation (13% higher t…[Read more]

JenD,

The real estate agent must submit our offer in writing to the vendor, regardless of what (if any) initial deposit we decide to pay

As I understand it, a deal is made up of three parts – an offer, a deposit, and an acceptance.

If any of these is missing, I believe you might not have a valid binding contract.

The important part here is…[Read more]

Wayne,

It is possible to “change a valuer’s mind” (I’ve done it a couple of times) – but then, I’ve also been UNABLE to change a valuer’s mind MORE than a couple of times.

On the occasions when I was successful, I presented “comparables” that showed that my property was worth far more than the “comparables” they used. And questioned their use…[Read more]

Sam,

I’m hoping for some advice on whether to use the $23,000 I have saved to buy a place to live in or buy an investment property

I wouldn’t like to see your question get lost in here, as I reckon it means a lot to you. Can I suggest you retype this as a “New topic” so that the good people here can address your question on its merits?

Re…[Read more]

As “Debtdogg” said That being said, if you do not have another income against which you can claim deductions then surely if income (rent) less expenses (rates, interest etc) gives you a negative figure you have negative gearing.

Probably the most important thing to understand is this:-

If you are positive geared, then a positive cashflow is a…[Read more]

She is wondering should she rent out her unit for $220/w and move in with her family thereby paying $210/w in rent herself. But by doing this she will receive an extra $70/w from Centrelink

This sounds like she’s immediately $10 per week up – then Centrelink kicks back another $70 per week. And then, because she’s renting an investment…[Read more]

To me, it doesn’t matter what you call it (but it can lead to confusion, especially in forums) and it seems different people call it different things. The important thing is to understand what your situation means to you, rather than what it’s called.

FWIW, my take on things is that “negative geared” is when the investment returns a loss BEFORE…[Read more]

GavinH,

Try these – they work on post codes, rather than suburbs – but could be worthwhile for you.

I like Aussievaluer as it includes a bit more than most, but they do limit the number of inquiries you can make per month.

http://www.homepriceguide.com.au
http://www.commbank.com.au/propertyvalueguide/
http://www.eaussie.com.au/aussie_valuer.htm

Happy hunting

Benny

Hi,

I’d like to add my support to WAPrincess’s comment about Bruce Davis

Have you read “How to Build Riches” by Bruce Davis?
Don’t be put off by the cheesy title it really is a good book

I would second that in an instant. For those who might be wanting a well-rounded view of everything in investment, Bruce Davis (Sydney) is a hard act to…[Read more]

Hi Grant,

I was 52 when I realised I hadn’t been doing the best I could (this was 1999) – so, congratulations for starting off so young. Even at MY age though, I spent 9 months just reading, talking to people, going to seminars, etc. to start to understand just HOW to start out with property investing. I’d suggest you do something similar -…[Read more]

For those using AussieValuer for the first time, let me add that the “current data” (AFAIK) probably relates to 30 Sep 04. The next update won’t be until mid Feb 05 (which should then be Dec 04) – but I’M GUESSING here.

And, if you haven’t found out yet, they only allow 5 requests per month to the site “to protect their data”. It helps to…[Read more]

Hi persistence,

You could try the link I provided in THIS thread:-
https://www.propertyinvesting.com/forum/topic/14183.html

The AussieValuer does give yields – and they seem to change every 3 months – but please don’t ask me any more about it. The data appears to be useful, but Aussie don’t even date it, or indicate HOW they arrived at the…[Read more]

Hi Micasa,

Sorry – a bad choice of words with “imbibing” -all I meant was “are you using Depreciations” – as I know Steve is not one to utilise them necessarily. I don’t know how many other +ve gearers might follow his lead and NOT claim them.

To me, by using the Tax advantage of claiming Dep’s it allows us to have extra money now – even…[Read more]