MR H wrote:
Engelo, Wow that is an awesome return, nice work! We are just getting started with this property investing business – would love to pick up some great cf+ properties like that one day! I guess that’s the best thing about this forum, getting to hear what you experienced investors are achieving. Have got 2 units in West Wod…[Read more]

Good on you for thinking ahead. 1) a house in a "good" area won't necessarily give you a good yield. It's virtually impossible (in a good area) to just buy a house and have it cover your payments. Don'rt forget all the other costs (rates, insurance etc). If you need a good yielding property search for areas that fit that need. You need to know…[Read more]

What is the free seminar? Who is running it? There are some good ones but they are run for the purpose of getting you to sign up for the presenters course. For beginners I think there are things to learn though (well some of them).

You are severely limiting your options if you go P&I. In my opinion there is NO merit in P&I. EDIT (unless you are so hopeless you can't help but spend the extra money on useless junk).If you really want to pay down the loan do it via an offset account. That way your interest will be the same as if you were P&I but you have the flexibility to…[Read more]

Read the contract to see how much notice you agreed to give. Speak to them and tell them you are not happy and why. If all else fails give the required notice and switch.

Good luck. I did the company ruin around myself and couldn't find one that I felt comfortable with so started on my own but started going to fortnightly meetups and it was invaluable. Networking with likeminded people gives you the knowledge and motivation you need. There are a lot of experienced investors on this forum but also a lot of…[Read more]

DHCP wrote:
hey crusty my experience dealing with motivated sellers so far so good…maybe my deals were different to yours, who knows?.

For someone that keeps professing his experience you seem to give a lot of incorrect advice. Care to disclose your level of expertise?2 IP's?

The building and pest inspection form part of the cost base. You also add stamp duty, solicitors fees etc.The depreciation schedule can be written off in the year it was incurred as it is an expense attached to the running of the IP. You need to get yourself a decent, property savvy accountant. They are worth their weight in gold.

DHCP wrote:
It would be a challenge to know the exact amount on how much you've added to the value of your property before you  reno the property …usually you do this after the reno is done.

If you don't know what the value will be after you do a renovation you should not be renovating. You NEED to know otherwise you don't know how much to…[Read more]

You can get a LOC on your PPOR and use this as deposits for IP's. Get an 80% loan (or more if you're that way inclined) for the purchase. That way it is stand alone and not crossed with your PPOR. Each IP is stand alone that way.Seeing as you have no loan on your PPOR (well you have the LOC but it's tax deductable). If you have extra cash you can…[Read more]

You can buy as many as you like in your own name. You don't NEED to do anything. Just find out the pro's and con's of different structures and decide how you want to proceed.

emz03 wrote:
from an investment perspective the land component of anything you buy is the most important. unfortunately apartments dont offer that in comparison to a house with a backyard.

You forgot to add "In my opinion".     Don't state things as fact that aren't in fact factual.

The group is called Right Property Group. They are a lovely bunch. Their fortnightly meetings are at the Ridges Hotel at Parramatta. They are closed over Christmas but ring Kate if you have any questions or just come along to the next meeting. Not sure when the next one is. If you are going along send me a PM and I'll keep an eye out for you.…[Read more]

Terryw wrote:
I was going to suggest the benefits of living in it include keeping it CGT free when you rent it out – for up to 6 years. No need to move back in either, but if you moved in and out the exemption could continue for another 6 years.

Oh. I thought you had to move back in. You learn something new every day.So if you don't move back…[Read more]

I think the key is networking. You don't necessarily need to pay thousands of dollars to do that. I almost paid $9000 for a mentoring program but the person I spoke to turned me off. So glad he did. I ended up finding a group that meet once a fortnight and you only pay $10 a meeting. I have met many likeminded people and have been spurred on to…[Read more]

Yes the 6 year rule would be the advantage. As you don't pay stamp duty not much of a gain from the FHG. With the 6 year rule though you do have to move back in within the 6 years. If this is not likely I'd leave the FHOG for another time.While you have good depreciation in the first few years, the property is quite negatively geared so keep that…[Read more]

Anon_ wrote:
I would be very cautious in buying properly over the next 6 months.

 Why this 6 months in particular? And do you mean everywhere?While I think you should always be cautious and do your research, there's always somewhere that's at the bottom of the cycle. Just need to know where. I'd be interested in knowing your reason for the…[Read more]

Unless you have a valuation made at the time you moved out you will pay a %. ie if you have owned it for 6 years and it was your PPOR for three years, you'll pay CG on 3/6 years.So half of the gain (minus purchase costs etc plus depreciation). But you only pay half the CG as you have owned it for more than a year. So 250-152 = 98 (so without all…[Read more]

brmiau wrote:
I still like the idea of sticking the money in a compounding interest account and watch it grow, then live off the interest and savings. But that doesn't seem to be too popular. Not sure how to tackle the property/real estate investment.I have a friend who's dad is really sick, still working at age 69, planned to retire in the new…[Read more]

gmh454 wrote:
Right now why rush into property, until you can see factors that convince you of a turn around.

Because then you've missed the boat.

gmh454 wrote:
and as for you buddy "If you can just stand still while others are going backwards", you wind up in frontGood luck

You may be ahead of the ones going backwards but you are not any…[Read more]