I haven’t been to Right Group meetings for a few years. They used to run fortnightly meetingws for $10. They shared information and talked strategies etc. There was no…[Read more]

You are wrong about Nathan though. I know him personally and yes he could just do nothing if he wanted. He does not NEED to work. Property is his passion. He lives and breathes it. He works on his terms, ie when he wants to.
You need to…[Read more]

Or give Right Property Group a call for a strategy session.
I’m saying this in regards to your other post as you seem to need guidance as to what is the best strategy for you.

There are…[Read more]

The property not rising in 3 years can mean nothing. It may be ready to take off.

Take Sydney for example- There has been 100% growth in some areas in the last 4 years. Now…[Read more]

In NSW you can pass on the usage bit if the property has it’s own meter.

Lots of people avoid units/villas/townhouses because of the extra cost of strata.

but if you factor in that you can save $10000 on insurance sometimes the extra cost isn’t that much. Yields are sometimes higher for units etc…[Read more]

Revalue Erskineville so you have extra…[Read more]

We are at the end of a boom which typically means very little (or even negative) growth for the next 5 years. Rents haven’t moved for a while, which is typical of cycles. Rents should begin to move in the next 12 months.

I have properties in Blacktown and they…[Read more]

We are at the end of a boom which typically means very little (or even negative) growth for the next 5 years. Rents haven’t moved for a while, which is typical of cycles. Rents should begin to move in the next 12 months.

I have properties in Blacktown and they…[Read more]

As long as you do your research and are not buying in the dodgy streets in the dodgy area.
Also a dodgy area in a smaller town might not be any good. It’s about more than type of area.…[Read more]

Where are you located? Look up to see if you can find some local meetups (try Meetup.com) or on the forums. Some are formal type meets, others just meet and chat.

I’d start with your local library. Borrow a few general…[Read more]

We reno a whole house for $15K but we do nearly everything ourselves. Can you do anything yourself? Even the ripout saves thousands. If you can project manage it yourself (ie organise separate tradies) that will save many thousands too. The builder will have a % (usually…[Read more]

We didn’t have to replace much wiring as the fire was only in the hall and a little bit into 2 bedrooms. The rest was only smoke damage.

I’ve done at least half a dozen. Here is a video we did of a burnt out property we renoed in 2011.

Kitchen cost $2997 supply only.

https://www.youtube.com/user/LovetoReno

There are set up costs plus extra tax (accountant)fees at tax time. I raised the question with several investors and with my accountant. My accountant’s advice was if I was-…[Read more]

How many times a year do you need to visit him/her?

Never really. Send in your paperwork. Get it back. I do visit with my accountant for chats on my investing but i could do it over the phone.

But-

YOUR rental yield hasn’t dropped because you paid $500K. So your rental yield has increased.

If someone 10 years later was buying that property THEIR rental yield would be lower. But who cares about them! Haha!

Capital and rent won’t…[Read more]

As Sydney is coming to the end of a boom rental yields are low. This will change. Rents (like prices) go in waves. Prices go up, then rents go up.
So your rental…[Read more]

Post here or on other property forums eg somersoft for a lot of advice (some good, some not so much).

I’ve learnt more that way than from all the advisor’s put together.

Risky why not just retire and go in the pension if you wish to live…[Read more]

I have a low LVR, but I have a very low risk threshold. Plus that gives me good cashflow, which was my aim so I can retire. Very difficult to retire with a high LVR but people have high LVR’s to build a portfolio faster. Some then sell down to increase equity and cashflow to…[Read more]

You still paying the same amount off the loan but instead of GIVING the money back to the bank you are LENDING it to them. It sits in the offset (which reduces the amount of interest you pay, the same as if you were paying it down) BUT YOU have the option to pull it out if you want.

eg…[Read more]

DO NOT pay down the loan. Change the loan to interest only NOW!!!! See if you have an OFFSET account attached to the loan (NOT A REDRAW).

If not get one with an offset.
Pay interest only and put any extra money into the offset.

The reason for not paying down the loan is that if you decide to keep this house as an investment then…[Read more]

There are quite a few different exit strategies. Everyone is different. It depends on your timeframe, structure etc.

One strategy is buy heap of properties, wait for CG then sell half and live off the rent.

Some Live off…[Read more]

You would have to dip into the capital, so it wouldn’t be long before you did qualify for a part…[Read more]

I don’t see that happening again.

If you buy well you shouldn’t be negatively geared for more than a few years. I don’t like negative gearing myself and only once bought a negatively geared property.

We typically paid 2,500- 3,500 for each one. We installed a few ourselves and paid for a couple to get installed.

If you are willing to demolish yourselves and you don’t move the plumbing it’s not expensive. Did you want to do some yourself or have someone do the whole…[Read more]

Property Box- never heard of the 2 guys running it and looking at their past newsletters there are only 2, the first being Dec 2014 so I’d be VERY wary of investing with such a new company.
When property is in the news and the hype is…[Read more]

The $20M is what one of the policies has. Who cares if it’s too…[Read more]

That does not stop people from trying, which can be very costly for you.

There are many things which a home owner may not be aware of (but could be proved that they should have been aware of, and therefore liable).

Example- Smoke alarms. Do you know your legal…[Read more]

Is this through Positive Real Estate? They have been building and pushing that area to clients for 7 years that I know of. In 2008 they were calling it Boomera Coomera. What has past growth of existing estates been like? How do their prices compare to the new estates? Becuse in a few years time they will be the ones you…[Read more]

This is EXACTLY why you need insurance. You don’t even know what you are liable for. Look it up. That’s why my insurance covers me for $20,000,000 Legal Liability. Even if the payout WAS refused, how much extra cash do you have to fight it in court?

If someone injures themselves on YOUR property YOU ARE liable. No one…[Read more]

My only concern is tenant checks. Bad tenants target self managers as there aren’t often checks in place.

I think it’s fine if you have 1-2. It can get a bit onerous if you have multiple, but then again you are saving more on fees.

It depends on…[Read more]

And the MAIN…[Read more]

NO- It is NOT covered by Strata. Strata insurance is for building only. You need to insure everything inside the unit. If you or your tenant cause damage you are liable.

You are also liable if your tenant or a visitor injures themselves in your unit. The main reason I get landlord insurance is…[Read more]

If the property is near new or has had a major reno you will have good depreciation, which will lessen the costs out of your pocket.

Calculate carefully what the…[Read more]

Not the P&I though. Pay Interest Only.

If you need the extra tax you will be getting you can sign a tax variation form (used to be called 221D) and then you get your tax lowered each week instead of waiting until the end of the year.

Is that what you are asking?

We are at the peak of the boom. You are unlikely to get any capital growth for 10 years and may even get some negative growth in the next 5 years.

Not a good time to be buying there IMHO!