I would call the regulating body in your state and ask them,

That would be the Real Estate Institute of the State – REIV, REINSW, REIQ, etc. It strikes me that you might be stuck with them for 90 days – but then, if they are that bad, give some thought to moving away even as you give them notice. e.g. it might cost you a further 8% of the…[Read more]

Hi Sunhero,

Depending on how new the subdivision is, it may be that the pegs are in the ground and it is a simple matter of walking the block to find them.

These are the square pegs that are driven into the ground to signify where your boundary is. If these have been newly mapped out (i.e. a new subdivision) then they should be in place and…[Read more]

Hi Sunhero,

Depending on how new the subdivision is, it may be that the pegs are in the ground and it is a simple matter of walking the block to find them.

These are the square pegs that are driven into the ground to signify where your boundary is. If this have been newly mapped out (i.e. a new subdivision) then they should be in place and…[Read more]

Hi Tim,

At the bottom of this page (every page) is a block named as the Training Centre. Look in there for the area called “Developing”, and click on that (or go straight there – https://www.propertyinvesting.com/develop/ )

It consists of a number of articles written by various authors – these will fill your mind with stories, options,…[Read more]

“and in a falling market you could lose 10%+ and that could be all your profit……”

Those I have heard who develop won’t get out of bed for 10% return. Usually 20% minimum and climbing.

Still, if they got caught badly, even if just a 10% drop in values they might hold, leading to higher Interest costs which could erode their profits even…[Read more]

Ah, OK – my question to myself has now become “Is $1m enough?” But hey, I’m sure you’ve got that all sorted – go for it.

I hope one of the finance gurus stops by with some thoughts re your finance question……

Benny

Hi Ozboy,

I can’t help with any re-financing ideas – but you did say you would appreciate any comments, and I wanted to say that I gasped when I read how much you were about to spend, and simply wnated to ask whether you weren’t over-capitalising majorly???

Of course, there are units and units – and locations that lift some values way above…[Read more]

Hi CallumA,
“I am not about to purchase an older home….”

I presume that was a typo, and should have read “I am now about to purchase an older home….” ;)

Any answer to your question re “How much would the value drop?” would require a lot more knowledge about the initial block – size, value, location, size after subdivision, etc.…[Read more]

Hi CallumA,

Any answer to your question re “How much would the value drop?” would require a lot more knowledge about the initial block – size, value, location, size after subdivision, etc. Depending on comparables surrounding it, it could be that any value change might be minimal – or not.

However, assuming your borrowings from the lender…[Read more]

Hi CallumA,

I presume this was a typo – “I am not about to purchase an older home….”

… perhaps meant to be “I am NOW about to purchase….” ???

Any answer to your question re “How much would the value drop?” would require a lot more knowledge about the initial block – size, value, location, size after subdivision, etc. Depending on…[Read more]

Hi Storeybuilder,

I accidentally piled stacks of cash into my redraw as if it were an offset. This is normally a bad situation, but because I haven’t withdrawn any money from it, and I intend to use it for interest payments the cash will actually be able to be freed and eventually I will be clear of my mistake. This is one way to fix over p…

[Read more]

Hi John,
(and all others reading this into the future)

If I had ever listened to friends and family, I would have probably only paid off 60% of my mortgage in the last 15 yrs and I would be sweating worrying if my superannuation would cut it when I retire, instead I have no mortgage, ten investment properties (two within a SMSF) and no concerns…

[Read more]

Hi John,
(and all others reading this into the future)

If I had ever listened to friends and family, I would have probably only paid off 60% of my mortgage in the last 15 yrs and I would be sweating worrying if my superannuation would cut it when I retire, instead I have no mortgage, ten investment properties (two within a SMSF) and no concerns…

[Read more]

Hi BClarke,

This is useful from you, but it leads me to more questions (sorry):-

There are key points to this that in my opinion are non-negotiable items when it comes to landlord insurance, these include inclusion of Accidental Damage rather than just Malicious Damage, no excess on loss of rent claims (huge impact on claimable amounts), and a…

[Read more]

Hi Colin,

Its a legit strategy to reduce taxable income but a bit of cat and mouse as you are receiving a tax break in advance.

The Mortgage Interest has been paid in advance, so I don’t understand the reasoning behind your comment…. ?? Can you elucidate? Thanks,

Benny

Hi Colin,

Its a legit strategy to reduce taxable income but a bit of cat and mouse as you are receiving a tax break in advance.

The Mortgage Interest has been paid in advance, so I don’t understand the reason behind your comment…. ?? Can you elucidate? Thanks,

Benny

Hi Storeybuilder,

Fixed interest so easy to calculate. By easy I should say possible.

Don’t try to calculate it – call your Bank and ask when you are “closing in” on paying it out. I had only one that I wanted to pay out (others have gone full term, and saved me heaps) but my calculations were WAY UNDER the final Break Cost. It was a long…[Read more]

Hi RY&F (again…)
I had responded after a cursory glance with my post above. But, on then re-reading your original post, I wanted to help with a couple of extra thoughts:-

More info : will 3 properties be enough when I get a family , children etc , probably not and thats when ill look to having 4 to 5 propertys outright

Good comment, and it…[Read more]

Hi RY&F,
Good on you for asking such a good question. As several have said, education is the key. See, whether you use a BA or not, a MB or not, buy in Bne, Syd, Mel, or country Aus (or not) are all just tiny parts of one huge subject.

I would love to know how to get them myself but I’m not too confident with that at this stage – I’ll get…

[Read more]

Hi B Clarke,
Thanks for your comments

I have written numerous times on this subject, malicious damage is a very specific term. So in my opinion you may have been lucky to even get the $10,000. What this does though is to highlight once again the need to be really careful about what’s included in policies.

That is scary – to think that if n…[Read more]