bumskins wrote:
$384,000 + ~$13,000 Stamp Duty + $44,000 Reno + ~$50,000 Interest + ~$15,000 Sales costs + $Rates + $Insurance + $your time= $506,000+How much rent did you get over the period? Does seem to be a close shave.

This was double posted and in the other thread I asked the same question but got no reply. I agree it looks great but I…[Read more]

bjsaust wrote:
My general feeling is there's no rush. Whatever's going to happen in the market, I find any kind of significant rise in the next two years to be very unlikely.

What!! You believe ALL of Australia will have no significant rise in the next 2 years? Won't happen. Guarantee it.Sure some areas will under perform. I believe some may…[Read more]

jonesy06 wrote:
Hey Jamie No I haven't done anything except met a sales person. They charge $100 to have a look at their properties.

hahaha. That's hilarious. Don't believe anything this person tells you. I was taught not to listen to people that have a vested interest in your purchase. The salesperson is paid by commission. So they "REALLY'…[Read more]

Get hubby to salary sacrifice a good amount of his wages into super. Or take a long leave without pay.

Shape wrote:
If your aware your loan is crossed and your fine with that- then it's ok…it only becomes a problem when you DONT KNOW. Regards Michael

I wouldn't say it "ONLY" becomes a problem if you don't know. There can be MANY problems EVEN if you know it's crossed. Eg one property goes down in value. That then affects both properties. I…[Read more]

Lendwise wrote:
Conveyancer for me….they are cheaper and there only expertise is conveyancing. Solicitors generally have this field as an add on to their existing business and with my experience are not as savvy as a conveyancer. I was in the mortgage broking field and always experienced problems and delays with solicitors, quite simply…[Read more]

ChristinaM wrote:

Catalyst wrote:
I have never made an offer with conditions.

Did you buy at auctions or private sale? and how many transactions have you done?

Both but you can't have conditions at auction anyway (well I did negotiate 5% deposit prior to auction once). I've signed 16? pulled out of a couple in the cooling off.

I have never made an offer with conditions.

Hi, I responded to your other post then found this. I was taught not to take advice from people who will gain from my purchase. Sounds like "they" have a lot to gain from your purchase so would find it very difficult to be objective. That's why they do the whole package so you get no other feedback. Tread VERY carefully. Personally I'd bow out…[Read more]

hakanoa wrote:
This is my first property investment.Not sure how it stacks up with duplex that are 5 years old in the same area. Not sure what you mean by paying a premium because its new. There are a few similiar duplexes to ours built in the same estate, well they are the same plan and still building more properties.

This is basic stuff you…[Read more]

I use Terry Scheer for most of mine.

The yield leaves a bit to be desired but being new you will get good depreciation so won't cost as much to hold. Have you worked out how much it will cost you to hold? ie out of pocket expenses.  About $230 a week loss before tax (not counting depreciation).How does the price compare to duplexes in the same area that are, say 5 years old? ie are…[Read more]

You are really worrying too much about nothing.  Say the loan is $30,000. If you borrow the money and you renovate for 2 months  you are not able to claim $350. So you are missing out on $105.$30K X 7% = $21000pa.  so 2 months interest = $350. So assuming 30% tax rate = $105. Chillax!!!!   Change your name. You are becoming a self fulfilling prophecy.

Doing nothing and retiring on the pension seems like a big risk to me. I'll stick to the risks of property investment. At worst I'll end up on the pension, At best I'll be travelling the world (doing that now but still working some).

Ultra Property wrote:

Marie123 wrote:
I am getting 5.2% but it is a fixed loan, which we got 2 years ago. We don't have as much debt though – only $270k!

5.2% is really good. Is this with a bank or non lender?

They said they got it 2 years ago which was average then. Friends of mine are on 4.99% from then, about to come off.

Get a new accountant!!! Pronto!!!You CAN claim depreciation AND the interest on the money borrowed for the reno FROM the date it's available for lease.

blocka wrote:
lets say i inherited $250,000 i could bye one property worth $250,000 and enjoy the rental return of lets say about $280 per week and wait for capital growth of say 4% per year =$10,000 per year, or i could bye four properties of total p/p of aprox $1,000,000 and use my $250,000 as the deposit to borrow the rest. i would not have a…[Read more]

Upper Coomera has been plugged by many property groups for the last 4 years. That is BECAUSE they build there and push them to clients. I know Positive Real Estate was pushing them (probably still are) a few years back. When looking at these places you have to consider that the people selling them have a vested interest in you buying there. How…[Read more]

Do not sign up for their mentoring service (was $8000 last time I looked). They have properties to sell which are "amazing" of course. As mentioned- tread carefully. I was always taught to be careful of listening to people who have a vested interested in your purchase. By all means go, listen then take that info away and build on it. Talk to…[Read more]

Hi Nathalie. You can post any questions or ideas here for constructive feedback. It is great to find some like minded people to chat with about property. Do they ever have seminars in Townsville? Or somewhere you could travel to. That way you could meet some like minded people. Maybe advertise locally for people interested in property. Read books…[Read more]