Thanks Corey. And back to you, Simon – are these extra funds planned to be simply a Deposit on a future property? If yes, then maybe take a look at a Bank Guarantee or a Deposit Bond instead – the equity withdrawal can then be left until the actual transaction is due to go ahead, when the equity can then become the Deposit at settlement.

Or…[Read more]

Hi Corey and Richard,
Could a Stat Dec to the effect of “I undertake to only use these funds for investment purposes” go some way toward satisfying the lender? As I understand it, a Stat Dec is not something to swear to lightly – but would one be enough to cover the lender’s needs (especially since it is an existing lender, and not one where…[Read more]

I didn’t end up looking at the Mermaid Waters

Fair enough Ajay – good luck with your hunting !!

Benny

Fair enough Ajay – good luck with your hunting !!

Benny

Hi all,
As we near the end of 2017, I thought it would be interesting to take a look at this well-worn topic once again. Things have changed – as I am sure we are all aware. Like, Syd and Mel have continued their climb into the Stratosphere. To the point where Syd now shows as needing 12 x Annual wage to afford the median house.

As Steve…[Read more]

Hi Codie,
How did it all pan out? Did you get to move in, and maybe you ahve already moved out again? Looking forward to your update.

Benny

Hi Ajay,
How did your trip go? DId you get to check out the Mermaid Waters one?

Benny

Ben>>> “The look of their site doesn’t instil much confidence though.”

+1 to that comment

Benny

Hi John,
I’ll have a guess and say sell the Frankston one. Why? Well, from the numbers shown, it has the larger Gross Profit if sold, thus likely the largest Nett Profit after Sale. Sure, it will cost a bit more in CGT (or a Tax on Profits) but it should leave you with the larger amount to parlay into the next Ip.

That also leaves you…[Read more]

Hi Steven,
On page 1 of the “Big Picture” thread is a post about Offset Accounts. You can find that one here:-

https://www.propertyinvesting.com/topic/4410491-the-big-picture-for-new-readers-especially/#post-4697973

In the embedded link, there are several useful posts relating to Offsets and how to use them.

Then, on page 2 of the “Big…[Read more]

Hi Ajay,
One of the two links you posted is a standout to me – and that is the Mermaid Waters one. It appears to be an older style, but looks great inside – and its price is HALF of the Median. Rental return appears pretty darn good too.

Is the price wrong? ‘cos based on first impressions, I would be wanting to take a close look at…[Read more]

Hi all,

Also, what is a building square and were did it originate from?

One square (in the old measure) was 100 square feet. It was easier to say “Twelve squares” (just two syllables) than it was to say “Twelve hundred square feet” (5 syllables).

Then metrics came along – they don’t quite match with the old measures, but are sort of close…[Read more]

Hi Ajay,
In case this helps:-

https://www.propertyinvesting.com/topic/5031421-to-all-mortgage-brokers-and-other-advisers-too/#post-5031421

Benny

The long posts would have lost almost all readers.

Hehe – well some die-hards are still here !! :p

What I’m trying to say is that the formula you’re using is lacking dimension of time. Rents grow with time so $20K rental income today = $100K tomorrow so sometimes even 1 property is enough to be ‘successful’ :-)

How does adding a time dimensi…

[Read more]

Hi Ben,

“(I wanted) to get the message across how monumentally difficult it is, and why anyone who does actually reach this level of property investment success can be so proud of their achievement.”

Worked for me, Ben – that is a very interesting summation and I must admit to never having thought of that limitation which does, as you spelled…[Read more]

Hi Dave,
I went looking for this topic as it expands on what has been discussed so far re CGT and a PPOR.
https://www.propertyinvesting.com/topic/5031769-retrospective-property-valuation/

The REALLY important bit is Terryw’s answer to my question here:-

So, am I right in saying we would not be lying to nominate one place as PPOR for State…

[Read more]

Hi Mike,
A Sinking Fund is (I believe) a separate fund set aside to cover some expected large maintenance cost into the future. It might be that the block of flats was built 50 years ago, and the Body Corp folk believe that it will cost (say) $500k to smarten up the building – rendering, etc. Thus, they might have previously voted to have each…[Read more]

Hi Ajay,

Hi Benny – that’s what I’m betting on. But it’s surprising there was such limited growth in Gold Coast houses over the last 10 years. Articles such as these seem to contradict this. Am I missing something?

One of the articles mentioned the median growing more than twice as fast as Brisbane – that could be valid – IDK, as I only see the…[Read more]

Hi Mike,
I am personally in favour of houses over apartments. Many factors can sway things though, and high cost in major cities can have people opt for an apartment. For investors, apartments can often bring better returns “on the surface”, but beware of Body Corp fees and high-cost Sinking Funds that can throw the good returns under a bus…[Read more]

Hi Mike,
I am personally in favour of houses over apartments. Many factors can sway things though, and high cost in major cities can have people opt for an apartment. For investors, apartments can often bring better returns “on the surface”, but beware of Body Corp fees and high-cost Sinking Funds that can throw the good returns under a bus…[Read more]