I meant I would have bought something that wasn't small and wasn't above a garbage room. In other words- nit those. Why did you have to choose between 2 units- both of which were not ideal? There are millions of units- why those?But if I HAD to have one I'd say the bigger one. You can change lots of things easily but not size.

Bought something that wasn't small and wasn't above a garbage room.There are a LOT more than 2 units out there.

I'm a bit confused. You are building and you will rent it out when it's finished THEN move into it? If you intend to move in within 6 months of completion then you can buy it getting the FHOG. If you move in after 6 months it's too late, you cannot get the FHOG.

Jins13 wrote:
If someone gave me something on a silver plater and said here you go, with nil effort on my part it leaves a sour taste for me.   Just to add to, taking short cuts which you have done very little homework  will leave an undesirable result.

So you don't believe in Buyers Agents then? They can hand me a good deal on a silver pl…[Read more]

I didn't say Sydney had no problems. I just think it's ridiculous to make broad stratements about the "Australian Market". There's no such thing in it's entirety. As for me I'm a very willing player. Spectators can't win. Bring it on.

sapphire101 wrote:
Current owner may allow early access to get your money. Sounds like a good swap. Yes you are correct in that if the settlement does not go through, besides the usual financial problems, you will walk away from your renovation and have to pay to get it into a livable condition or back to where it was, plus costs to date.Sounds…[Read more]

Kaylah wrote:
I agree Freckle. People have relied on Capital Growth to sustain their property portfolios and in a stagnant market people are going to have to sell because they used their capital to cover the mortgage payment short fall. This has caused an increase in properties being sold with very few buyers in the market due to financing…[Read more]

Yes there are lots. What strategy are you looking at (or just general). You could go to the Think and Grow Rich in Property one (in March I think). It's free and has various speakers. You also get free books and DVD's. Just don't get hyped up and pay thousands for courses. Think about it and do some research first to ensure it's right for you.…[Read more]

I love it when people that can't make a particular strategy work say it can't be done. Well move out of the way while those that can do it do it.This is my strategy ATM and it's working nicely for me thanks. My portfolio is CF+ and my LVR has not increased with my last 4 purchases as I buy under market, reno then reval.

novice100 wrote:
Also I forgot to mention that an identical unit in the complex sold for $650k in October 2011 so I presume this problem did not deter the buyers then (the report was written in July 2011 but the legal scion started in dec 2011)

Maybe that buyer had the same mentality as yourself. ie buy regardless of the unknown future of this…[Read more]

If there are defects in the building I'd be more worried about lawsuits. If a person was injured the insurance may wipe the claim. Give it up. There are MILLIONS of other properties out there. A new one will come along soon. I know I've missed out on many "one off" deals only to find another the next week.Wait to see what happens with the claims.…[Read more]

You're kidding right? You're thinking of buying a property that "may" have to self fund $1million in faults.  And you're willing to overpay for the privilege. I'm surprised there aren't more for sale.

Before self managing you need to know the rules. Do you know your rights? The tenants rights? If there's a problem are you able to represent yourself in court? When there's a leaky tap  etc the tenant will ring you. Are you OK with that? Are you willing to contact maintenance people? Do you have numbers on hand for emergencies? plumber etc.…[Read more]

rusty05 wrote:
We've just been approved for a 0.9% discount with Westpac on a loan of over $800000 but the broker is hitting them up for 1% because the LVR is only at 42% – Worth a shot.

on $800K you should be getting 1%. I'm getting 1% on less than $800K with both Comm and St George.

Flea2575 wrote:
HiI am going against the grain here and as a newbie investor myself, I have decided to enrol in a course for a few reasons. I have been reading a number of books over the past year and just found that I had information overload. As an experienced investor, you may be able to sort through all the messages, but for me, I found that…[Read more]

So you bought a property that will lose money so you don't have to pay so much tax? I know lots of people do it. It's called negative gearing but it's not for me. I like making money. The more you pay off the less tax you claim as a tax offset, but the more you pay off the less interest you pay. I'm hoping you are paying the extra money into an…[Read more]

Hi, it depends on personal taste. I have a full brick villa and a few walls are brick. I left them for now.Had one tenant say no due to brick walls.She didn't like them. I may do the loungeroom later as I think it looks a bit like a garage as it has 2 brick walls.  You could also look at rendering the wall and painting it. Gyprock is cheap so if…[Read more]

Can you lose?? Oh Yeah!!!You need to factor in vacancies, management fees (high with these), rates, insurance etc. Doesn't sound so good then. That's if you get through the hurdles Terry mentioned. Glad you decided to look elsewhere.Plus these don't seem to go up in price. I looked at some in Sydney in 2008 and they are still the same price,…[Read more]

The bank can't just take the money out of the offset account. Banks can close any loan but why would they unless you don't pay the interest. You only pay interest on the balance so if you have a $350K loan with $350K in the offset there will be no interest to pay.  You can save $350K in 1-2 years? Is that what you mean by matching the loan…[Read more]

johntan wrote:
I've just read Steve's 0-130 properties as well as Kiyosaki's Rich Dad Poor Dad and both books have completely changed my views about life and property (Majority of our family members are teachers). 

Curious as to why the reference to family members being teachers?I wouldn't rush in and join a program. Read as much as you can.…[Read more]