"this" market???Which one would that be? Or are you assuming ALL of Australia is exactly the same?

InvestingCoupleACT wrote:
Do you think being successful property investors is very likely? Ie Buying more and more property (smartly ofcourse) and making enough money to increase partial financial independence?

Yes. You have good income. No debts and a good deposit.

InvestingCoupleACT wrote:
If we were to get an IP, what would we need to do in…[Read more]

InvestingCoupleACT wrote:
We are thinking about purchasing a home to live in which we would take a 500k loan which will cost us around $950p/w in repayments.Our rent at the moment is $355 p/w 

The extra payments plus your lack of deposit (after you buy PPOR) will severely restrict you ability to buy an IP.

InvestingCoupleACT wrote:
If we…[Read more]

I think the big guns actually have cash to buy. Buying, getting loans etc then backing out of them a few weeks/months later gets messy. If you have equity set up a LOC and use that to buy. I know that's a lot of cash. Why not start small? Buy something. Take time off work to do the reno. Sell and build up cash that way. We do our renos around…[Read more]

Do you have some figures for both? Cash flow IS king but without Cg you won't go anywhere in a hurry. How much CF are you talking? I like cash flow too but wouldn't buy in a town where I don't think there will be CG.It's ALL about numbers. You are right with the 4 rentals VS one risk. I like brick too. Less upkeep (normally).  Just be careful…[Read more]

Only if he doesn't move into the IP. If you've lived in it you can't claim.

So this is your place and you'll be moving into your partners place? is that correct? Or are you and your partner moving out and you both own it?If the first is the case you can rent out your unit for 6 years and not pay CGT (as long as you don't claim another place as your PPOR (Principal place of residence). Important if you sell later. Move…[Read more]

If you have personal debts (PPOR mortgage etc) use the $50K to pay them. They are not tax deductable. However anything you spend on the IP will be. What sort of renos are you talking about? $50K is one hell of a reno if there are no structural changes.We typically spend $12-15K on a full reno. New kitchen, bathroom, paint, carpet, polish floors.…[Read more]

There are PLENTY of places that will take your money to mentor you. There are MANY ways to make money in property (as you are discovering). You need to decide which strategy YOU wish to use first. THEN spend all your time researching THAT strategy. You can't do them all effectively. Personally I think you need a basic understanding of simple buy…[Read more]

If you buy the new PPOR before selling the old the bank may transfer it. It would then still be deductable.If you sell first, however, you will have to pay it back. If you then reborrow it won't be deductable. Can you transfer it to the IP? If equity has increased you could reval and transfer it that way. That would be my preferred option if possible.

Jamie M wrote:
Call me crazy but I actually don't mind painting – it's kind of relaxing.CheersJamie

I don't mind painting either. I have painted 3 full houses in the last year. It's the fiddly bits I hate and if surfaces are poor. Blooming lacquered skirtings and window frames are a pain to prepare and paint.I love doing doors.But I do hate…[Read more]

wisepearl wrote:
p.s. on that note, anyone got any tips or templates for writing scope of work for painters?

If they know what they are doing they should have their own. All paints are not equal. I think you'll find painters will want to buy their own. They get trade discount and know the quality.I buy my own paint but I paint myself. Don't use…[Read more]

sarahj1988 wrote:
Hi guys,Is it legal to buy a property as my principle place of residence but have people living with me and paying rent directly to me. Would I still receive the FHOG?

If you live there it is your PPOR. If you have boarders it's up to you (legally you should declare it). So it's not really rent as in you wouldn't have a rental…[Read more]

OK you say you want to build a property portfolio yet you want to buy and sell. I see your point in building up equity but why not buy reno hold? That way you have built in equity and a portfolio and you don't lose money by selling (you lose stamp duty, loan break costs, sell costs with each one. Unless of course areas close to you are no good for…[Read more]

thecrest wrote:
OR Nathan Birch's "Deal Finder " search tool ? Any info appreciated. Cheers thecrest

Nathan's Deal finder is not a search tool. It's a buyers agent setup. You pay for it and have access to Nathan's deals. I like the Real Estate Investor program but have not paid for it. It does make it easier to search for what you want. Rather…[Read more]

Hi Jeano. I'm interested in chatting with you about property in Alice. But I can't send you a Private message. If you don't mind can you PM me. Thanks

Check to see that it's a legal granny flat. Check with your insurance to see if you are covered. If it's not legal then of course you won't be.If you have rented the house then suddenly put someone in the granny flat the existing tenants have something to complain about. There can be problems with shared areas. Better if they are defined.The rent…[Read more]

ummester wrote:

Catalyst wrote:
My definition of a positively geared property is one where the rent is more than EVERYTHING I paid.

That needs property at less than current prices or rent at more, doesn't it?

Buy under market and increase equity and yield by doing a reno. It's working for me ATM so I'll keep doing that. If you are happy…[Read more]

I hate bagging. It always looks like a poor mans render. It looks exactly like it is. Concrete rubbed over bricks. Also the effect won't be good if you chip off the clinkers. You'll see the rough edges. I think it's render or nothing. It's not that expensive for the effect it gives. Our was red brick (which is a definite turn off when selling.…[Read more]

Scott No Mates wrote:
Use an adequate deposit rather than equity or 100%+ borrowings.

But it's not "really" positively geared" is it? No You are just fooling yourself that it is. The deposit you pay doesn't come from nowhere. Even if you had it in a bank account you can get 5% interest on it. So you haven't factored the loss of that money.If…[Read more]