If you negotiate straight after the auction it's still auction terms.

You mean Zaki in this months API? I don't know about the debt but he used a buyers agent to buy under valued properties and reno them. He did a LOT of the work himself so saved lots of money there. He revalled properties and withdrew the equity to buy the next one. Because they were neutrally geared (or just over or under) he could continue to…[Read more]

JacM wrote:
i use AAMI building + contents insurance plus landlord insurance with tenant protection

Why do you get contents insurance? Is it furnished?

I know a few people that used them. They bought properties at a decent price but they felt they were overcharged for the renovations. From the numbers they gave me, I agree.

I gave up after the second post. What dribble!!! Personally I don't have enough family to fill all my properties. Oh that's right I shouldn't be allowed to own that many. So I'll just tell my tenants who are not fortunate enough to have a cousin with enough money to buy a house for all heir relatives to live in, to live on the street. Move on to…[Read more]

How are you going to do renovations while it's rented?As mentioned above repairs while it's rented can be claimed. Improvements cannot. But f you do the renovations you can claim depreciation while it's a rental. It doesn't matter when you do them. You can do them just before you move out then get the depreciation schedule done.

You cannot do either if they are on a fixed lease until June 2012. Fixed means fixed. That's why tenants take out leases so they have security for the term of the lease. You have to accept the lease. Offer a lower price to compensate. The vendor will have lots of people not willing to wait 6 months so should be negotiable. When offering a price…[Read more]

Jins13 wrote:
Welcome to the forum. One of my advice which I would like to offer to you, is keep it secret in the workplace or family members as sometimes they will drag you down and possibly could affect your judgment. Also, my boss one day saw me reading the "Property Investing" Magazine and she told me me that perhaps I was getting paid too…[Read more]

Steven you have hijacked Damien's thread. I have asked for it to be removed. If you have a question start your own thread. Now Damien- Be VERY careful with these companies. Often they have properties to sell you. The problem therin lies do they sell you the best possible property because it is in YOUR best interest or their own. I personally am…[Read more]

INTERNATIONAL EMPIRE wrote:
I 30 years ago most families had 4 to 5 children per family, nowadays that is more like 1 to 2, if that. A number of families are choosing lifestyle over family.

What country are YOU in? Not Australia obviously.  At no time in Australia's history did most families have 4 to 5 children. The thing that has changesd…[Read more]

NO!! Tenants are NOT your family. They are the people who pay your expenses so your business can run. I have enough family and friends without trying to have relationships with strangers. Sure I have to have a relationship with the agent but it's a business relationship. They don't ring me with their personal problems (which tenants can sometimes…[Read more]

Hi Daniel, welcome. Jamie makes a good point for your first purchase being you home (PPOR)  as there are certainly advantages. If you can improve and add value that's a great one as there is no capital gains tax (CGT).  Financially wise it can also be better to buy an investment and rent. Depending where you want to live, the rents may be low co…[Read more]

hahaha. When I see three glowing reports from different people who have been compelled to join this forum (yesterday) just to post about this guy one cannot help but be suspicious. It's enough to stop me even researching to see if it IS legit.

I just had this problem with CBA. I bought a property that was fire damage (not structural). I bought it for $15K more than the land value. So I said just lend to me on the land value if that's easier.We need to replace the hall gyprock and ceilings. Lots of scrubbing of smoke.The stuffed around. Sent the valuer out. Asked for builders quote. When…[Read more]

Hi, welcome to the forum. Excited is a great place to start. As "they" say- better late than never. I only started seriously 3 years ago (at 50) and I've been madly buying since then. It IS very exciting. People at work think I'm crazy. hahaBecause you are starting with no equity you need to find a strategy that will allow you to build equity. My…[Read more]

Agree with above. Watch for management charges also. In 2008 I was looking for a an apartment in inner Sydney. I looked at this type of property and yes they "seem" impressive.In the end we bought a very small 1 bedroom unit in Potts Point. 2008 was a good time to buy and we got it under market value. In 3 years it has gone up 50% in price. The…[Read more]

I think he means an estimated value so he knows where the money would be best spent. Do some research by looking at similar houses in the area. I would think a second bathroom would add good value. But then again so does a kitchen. I wouldn't spend $20K on a kitchen,, or a bathroom.For $20K I reno a whole house- new bathroom, kitchen, carpet,…[Read more]

I disagree. You can only claim interest if the property is available for rent. Some people advertise it for rentearlier than it's ready to get around this. You need to decide whether the ATO will know it was not rented because of the reno's or because you were waiting for a tenant. Up to you.The other things can be claimed because the need has…[Read more]

What's your goal in buying property? It's a bit difficult going on your limited info. You can buy in many areas of Sydney for $750K. We all want capital growth but it can't be guaranteed. If you are too negatively geared any growth is quickly eroded and you find yourself going backwards very quickly. Maybe look at 2 cheaper properties with a…[Read more]

Why would you want to buy a weekender in you SMSF? I doubt you could do it as it's supposed to make money. A weekender is not an investment.