Hi Jason,
I took your post out of the other thread, just so any replies to you don’t get confused with replies to “jcross”. I’ve got a few thoughts for you, but first I wanted to let you know what just happened !! I’ll be back !!

If you have an idea for a better title, let me know in a reply and I will adjust it.

Benny

Hi Loukediva,
Your question intrigued me, so I set about finding my copy of “0 – 130 properties” to get your quote from the source. But, on a quick “skim through”, I wasn’t able to spot the part you were quoting.

Can you help? If you could provide a page reference, or even just “which chapter”, that would be great – thanks,

Benny

Hi JC,
A good reply there from CRJ – but lets visit their warning :-
“Bear in mind the high costs of entry and exit probably about 10%”

Going by your words, I “think” the property you are talking of selling is your own PPOR – is that right? If so, then one of the common costs (CGT) of selling has gone away. But yes, there are still…[Read more]

Hi all,
Well, thanks to Jason Staggers, this Article (the Seven Most Fatal Property Investing Mistakes) hit the website recently – and it SCREAMED to me to post a reference into this “New Readers” thread. Take a quick look by all means, but then go back and read it all deeply. Commit the thoughts therein to memory, make this link a Favourite,…[Read more]

Hi all,
Well, thanks to Jason Staggers, this Article hit the website recently – and it SCREAMED to me to post a reference into this “New Readers” thread. Take a quick look by all means, but then go back and read it all deeply. Commit the thoughts therein to memory, make this link a Favourite, or whatever.

You will WANT to find this one…[Read more]

Hi Loukediva,

When I tried to calculate this all I could see was that there was a -$42,000 difference between our current annual expenses and how much we would have available for ‘guilt free’ living.

It would help if you shared the data you were using (even if not “actual” figures – e.g. you might not wish to share your actual income on a f…[Read more]

Hi Mat,

Is it essential to have a cash deposit saved up to buy a house up for auction? Or is equity in an investment property I own enough to do this?

No need to have a cash deposit, as equity in a property will do – but the auction rules might state 10% deposit. Call the RE agent ahead of the auction, as even these rules are negotiable.…[Read more]

Hi Coogee,
Probably more important than “which suburb?” is your answer to “What kind of purchase leads me toward my goals?” e.g. Are you wanting to build positive cashflow, or are you looking for a different outcome?

“Set and forget” by buying in a +ve cashflow area (like Woodridge or many other outer burbs)
“Reno and bump rent” to…[Read more]

Hi Dean,
I’m with you in saying “No, they won’t change it”.

Maybe that is because I read 70+% of pundits are saying “Yes they will drop it”, and I like to be different :p

I don’t think we NEED this, and I hope the RBA feels the same way !!

Benny

Hi Ben,
Good name BTW – :p You have a few questions (or doubts?) re Pimpama, perhaps with good reason…..

Here’s a link to an earlier similar question.
https://www.propertyinvesting.com/topic/5004119-coomera-queensland-a-good-area-to-buy/

Take a look – it has several replies already – maybe you can add your findings to that post to…[Read more]

Hi Jesse,
One I know, and used personally while based in Sydney a few years back, is Nick Moustacas of Strategic Wealth Management. He is located around Hurstville. Here is his website – http://strategicwealth.com.au/financial-planning/

There are some on here too who are FP’s, but I don’t know any of them like I know Nick M. I hope others…[Read more]

Hi Jeh,
As a new member, welcome aboard – you have come to a good place !! And good on you for asking the questions you need to.

It is always good to know how to EXIT an investment before getting into it – hence, useful advice from Catalyst.

Re Pimpama, I don’t know that there is a lot there – are there plans for schools, shops, etc?…[Read more]

Hi Draytone,

I’m currently renting out to great long term tenants for $450 a week, with a balance of $315k,

.. which makes you about neutrally geared at the moment (or even positive geared?)

Would you look at cashing out the Sydney property to gather a few 20% deposits for some strong positive cashflow properties here in the USA? The u…

[Read more]

Hi Brunowa,
I bet you are delighted that you asked on forum eh? There are so many of these little traps that “the average Joe” leaves to their professionals. If accountants got it wrong, how would you have known? I’m glad you thought to get a second opinion.

As you said, it didn’t sound right, and could have cost you dearly. But now it…[Read more]

Hi Janelle,
Sounds like your gut is trying to say something !!! Another popular saying is “If in doubt, don’t…”

If you had no doubts, then you would be feeling quite different about things. Since you are not, ask your gut “Why not?” :p It may simply be that you don’t yet know enough to be SURE. It may have nothing to do with…[Read more]

Hi Calderan,
Welcome aboard – and please don’t worry about any “dumb questions” – ‘cos the only dumb ones are the ones you DON’T ask (and we never get to know about them…. :p )

I’d like to share a couple of pointers with you – you sound like you are as keen as mustard, so I’d suggest you take some time to read heaps – good books, this…[Read more]

Hi Ryan,
Welcome to you, new member – you have come to a good place !

When starting out, there is lots to learn, and I would suggest you take some time to devour the articles in the “Training Centre” on the Home page. read some good books, and make friends with some of the professionals on here (Mortgage Brokers, etc) as they can guide…[Read more]

Hi Shaun,
Yep, sounds CF+ to me. Sounds like a commercial premises, and that the builder is renting back the place from you UNTIL he sells the other nine. Then he’ll be gone, and you will need to fnd another tenant (but they have already signed up for the other nine – is there a tenth waiting in the wings)? Being commercial, the rental…[Read more]

Hi Terry,
An interesting first post – I guess you are new here, so welcome aboard !! Your comment below intrigued me, and leads me to ask how you do it?:-

all have been cashflow positive from day one, with gross returns between 10.3% and 7.75%. More importantly the net return is around 7% at purchase date.

That bit about Net Yield at 7% – I…[Read more]

Hi WTR,

Does anyone know if when using an offset account and redrawing on it would affect LMI?

The simple anser is “No, it won’t affect LMI at all”. This actually highlights the major difference between an Offset Account and a Redraw. With a Redraw, you have returned the money to the Bank, and being able to access it again is not as simple…[Read more]