Hi Vik,
Interesting questions :-

Why is it that Agents in QLD ask 8.5% management fees whereas in NSW they are asking 6.5%.

I long thought it had more to do with the fact that MOST SYd properties rent for much more than Bris properties. And, since the same amount of work needs to be done by an agent, whether Syd or Bris, that 8.5% of average…[Read more]

Hi 5102,
Sorry to hear what has happened – but then, as you said, this is not as bad as it might have been, so hold tight to that thought.

Original plan was to revalue to purchase 2nd property but I’m just not interested because it just feels too risky and I don’t trust myself to understand the process.

ANYTHING is risky if you haven’t edu…[Read more]

Hi 5102,
Sorry to hear what has happened – but then, as you said, this is not as bad as it might have been, so hold tight to that thought.

Original plan was to revalue to purchase 2nd property but I’m just not interested because it just feels too risky and I don’t trust myself to understand the process.

ANYTHING is risky if you haven’t edu…[Read more]

Hi 5102,
Sorry to hear what has happened – but then, as you said, this is not as bad as it might have been, so hold tight to that thought.

Original plan was to revalue to purchase 2nd property but I’m just not interested because it just feels too risky and I don’t trust myself to understand the process.

ANYTHING is risky if you haven’t edu…[Read more]

Hi Loukediva,
Well, I finally FOUND the quote in the updated book and had a good look at it. For anyone else looking, this quote is from the later “0-130” book, not the earlier 2003-04 version. It is in Chapter 5 “The Truth about creating Wealth”.

Steve says that –
10% of pre tax earnings go to charity
10% of pre tax earnings go to reducing…

[Read more]

Hi Cathy,
If the two questions are combined (i.e. was Taree mentioned by MA?) then tread carefully.

I don’t know Taree, but a country town (or a smaller city) can often be WAY cheaper than any of the Capital cities prices, thus they SOUND like a great deal.

To find out (especially if a marketing company is promoting property in the…[Read more]

Hi JSmith,

I see you are a new poster – so a big welcome to you !! And good on you for taking a look at Real Estate to make good use of your windfall. There is a lot to learn, but, as Terryw pointed out, some things you may have heard decades ago :-

Go back and look at a house your parents bought 30 years ago. If they paid $50k for it then…

[Read more]

Hi there,

Question> What is the time, Anthony?

Answer> TIME FOR ANOTHER BROKER/ADVISER !!

Good luck with your hunt. Hopefully, some of our MB’s will direct your steps in reply…. Many of them know each other, and would also know “who is in Melbourne”.

Benny

Hi again, Anthony,

For ongoing costs, they come under 5 main categories :-
Mortgage Interest
Rates, water
Maintenance
Insurance
Administrative – RE costs (if not self-managing) and accountancy.

Purchasing costs are a whole ‘nother ballgame. Costs come out of the woodwork during that time (Stamp Duties, Borrowing Costs,…[Read more]

Hi Inusure,
Welcome to our useful little community. I am glad you made that post, as this is a great example of how many people can get themselves into trouble. You though have been smart and have asked “Is this right?”

i was approached by some “Professional Financial Advisers” who suggested me that I should only buy New Home and Land Pac…

[Read more]

Hi all,

and if you have to break a 5 year fixed loan it could be quite expensive.

Just one thing I would suggest is that EVERYBODY who is looking to take on a Fixed Loan (especially 5 years) should KNOW the magnitude of any Break Costs. With IR’s as low as they are, it does appear that a lift in 5 years COULD be on the cards.

So, have a…[Read more]

Hi Christine,
Just in case it is a help, do take a peek here:-
https://www.propertyinvesting.com/topic/4410491-the-big-picture-for-new-readers-especially/

There is a specific post in that link that tackles the question “Why use IO loans and not P&I loans?”
It may expand on the WHY you should use IO area. Of course, though IO can be…[Read more]

Hi all,
While composing a reply to the age-old question “Is NOW a good time to be buying property?”, a thought struck me, and I went looking for an Article that held the info I was wanting to share. It was about the property “cycle” and the best/worst parts of the cycle to buy or sell.

Instead, I found this…[Read more]

Hi all,
While composing a reply to the age-old question “Is NOW a good time to be buying property?”, a thought struck me, and I went looking for an Article that held the info I was wanting to share. It was about the property “cycle” and the best/worst parts of the cycle to buy or sell.

Instead, I found this…[Read more]

Hi all,
While composing a comment in a reply today, a thought struck me, and I went looking for an Article that held the info I was wanting to share. It was about the property “cycle” and the best/worst parts of the cycle to buy or sell.

Instead, I found this one……
https://www.propertyinvesting.com/buy-properties-in-australia/
…..…[Read more]

Hi all,
While composing a comment in a reply today, a thought struck me, and I went looking for an Article that held the info I was wanting to share. It was about the property “cycle” and the best/worst parts of the cycle to buy or sell.

Instead, I found this one……
https://www.propertyinvesting.com/buy-properties-in-australia/
…..…[Read more]

Hi all,
While composing a comment in a reply today, a thought struck me, and I went looking for an Article that held the info I was wanting to share. It was about the property “cycle” and the best/worst parts of the cycle to buy or sell.

Instead, I found this one……
https://www.propertyinvesting.com/buy-properties-in-australia/
…..…[Read more]

Hi Minimogul,
I was happy to Log in and see that you still frequent this place (though maybe not so frequently as before??) Anyway, I was very happy to see you here again, and it reminded me of the Introductory Post to my “Big Picture” thread for newer investors.
This quote of yours says it all really !!

I don’t need to move markets, b…

[Read more]

Hi Catalyst,

In a few years some people are going to be in great pain. Especially those negatively gearing properties.

For sure !!! The big thing with future rises will be how carefully the RBA cranks the IR’s up again.

See, with the exchange rates at 2%, if the RBA lifts to 2.5%, that is a 25% increase. The banks will feel it, and, though…[Read more]