Hi Max,

I HAVE BEEN GIVEN THE GREEN LIGHT FOR A SMALL LOAN OF 180K

No need to shout…. ;)

Further to what Richard said, not every lender uses the same parameters, so it could be that some lenders might be able to lend much more than $180k. i.e. Don’t just ask in one “shop” and accept their answer as being “That’s it – I can’t do better!”…[Read more]

Hi San,

Biting the bullet for the first time can be knee-trembling, eh? But if you have been smart, and have taken on board some of the earlier replies and have stayed away from “gotchas”, then all should be fine.

To that end, maybe YOU can answer some of your own questions (let’s see, eh?) ;)

1. Is there a way I can check value to make…

[Read more]

Hi San,

Biting the bullet for the first time can be knee-trembling, eh? But if you have been smart, and have taken on board some of the earlier replies and have stayed away from “gotchas”, then all should be fine.

To that end, maybe YOU can answer some of your own questions (let’s see, eh?) ;)

1. Is there a way I can check value to…

[Read more]

Hi Hawa,

As I understand it, you can only have one PPOR at any one time – so, at some point, ONE of those two would not be your PPOR for a period.

Now in 2017 if I was to sell property 2 claiming it as my PPOR for CGT purposes and move back to Property 1 for a few years before selling it, would I
1 – need to pay CGT on the total gain from t…

[Read more]

Hi Simon,

Wow, you doing it all yourself then? Well done.

I find myself now however with lots of finishing off small jobs to do & little time to get them done.

Depending on WHAT those small jobs are, is it worth paying some “handyman” type to race through (with or without you) to help speed you to where you can get an income from it. e.g.…[Read more]

Hi Simon,

WOw, you doing it all yourself then? Well done.

I find myself now however with lots of finishing off small jobs to do & little time to get them done.

Depending on WHAT those small jobs are, is it worth paying some “handyman” type to race through (with or without you) to help spped you to where you can get an income from it.…[Read more]

The previous one was new and it was complete. I was hoping to buy complete again.

Good idea – we get to hear too many bad stories of OTP sales where the final reality is far from what was expected by the purchaser. By buying complete, you eliminate that large area of doubt.

Can I say, ONLY buy complete – and if someone is ever enticing you to…[Read more]

Hi Brett,

I am considering buying another investment property.

Good to hear – have you always bought new? Or OTP? And always in Adelaide? Just wondering…..

I am a bit interested as I hear some saying “Buy new for max depreciation deductions” and it always just seemed to me to be a strange reason to buy new. And if you HAVE always bought…[Read more]

Hi Brett,

I am considering buying another investment property.

Good to hear – have you always bought new? Or OTP? And always in Adelaide? Just wondering…..

I am a bit interested as I hear some saying “Buy new for max depreciation deductions” and it always just seemed to me to be a strange reason to buy new. And if you HAVE always bought…[Read more]

Hi Simon,
Gold Coast apartments have had quite a checkered history. In the late 80’s (was it?) apartments were often changing hands for double and triple their original price – and then the bottom dropped out when we had “The recession we had to have” – Paul Keating. They then dropped markedly in value (had been well over-priced by…[Read more]

Hi Mitch,

We are interested in investing in our education tho still not sure on where we go to find someone who’s genuinely willing to teach or mentor ourselves tho.

Smart move! If you want to kick things off, you can learn a heap right here. I think a good place to start is with the various Articles that have been posted by Steve and J…[Read more]

Hi Lewis,
Good to hear you mentioned a “compaction report” as this would be one thing that would be mandatory after such a “fill in”. e.g. if you are building on land that has been untouched for generations, the weather has compacted things to the point where footings or a slab would remain in situ for many years without concerns. But, as…[Read more]

Hi Simon,

And mainly, DON’T go buying something OTP (off-the-plan – i.e. it is yet to be built), especially if offered a free flight there. That would be a HUGE mistake. Glad you enjoyed the holiday, and there can be good deals on the Gold Coast, but these are NOT sold by marketing companies.

Here is a link that takes you to a host of…[Read more]

Hi Warren,

https://www.propertyinvesting.com/topic/5034793-sunshine-coast-property-group-meeting-tuesday-9-may/

You missed that one by three days, but keep your eyes open for other meetings up that way. If you are OK to travel a bit, you might want to visit the Brisbane meetings too. Go to the “Heads Up” forum for posts that alert our…[Read more]

Hi RMAA,

Thanks for sharing !! And now, following on from the new Budget rumblings, there might be even more reason to go with a smaller lender if that is at all possible.

Let’s see what some of the MB’s can make of this for you… Or let’s hear if they CAN’T too. It is all quite beyond me, but they can usually do something good for most…[Read more]

Hi fxdaemon,

I too will eagerly await an answer from those who know. In a quick reading, I get the impression your accountant is being a “good bloke” by owning up to not being an expert. In essence, I think I would be looking for someone else to handle my IPs. He might be great with “businesses”, or with Super – just not with property.…[Read more]

Hi Pete,
Only thing I know about Canberra, unlike most other places, is that most (or all?) of the land is leasehold. This leads to lower prices, ‘cos you are not buying the land.

It probably has a bunch of different rules around that – perhaps chatting with a Canberran adviser would be a good move.

Benny

Another old chestnut that deserves a place in this thread is the well-known media headline that reads as some variation of “Cash Rate up (or down) by 0.25%” and is often extended to read “Mortgage Interest Rates up (or down) by 0.25%” – and that may not necessarily be correct. Often, when the RBA drops the rate, Banks DON’T drop by the same…[Read more]

Another old chestnut that deserves a place in this thread is the well-known media headline that reads as some variation of “Cash Rate up (or down) by 0.25%” and is often extended to read “Mortgage Interest Rates up (or down) by 0.25%” – and that may not necessarily be correct. Often, when the RBA drops the rate, Banks DON’T drop by the same…[Read more]

Hi Simon,
Thanks for taking the time to post this update – sounds like “All’s well that ends well” so, well done you!!

The bloke could have been kosher re “family health scare”, but it is always scarey when you “don’t hear from someone”, eh? Smart move reporting it via Gumtree – seems to have put the cat amongst the pigeons and had him…[Read more]