Congratulations on setting your mindset to take control of your financial future through property investment.

For me education is the key before you make your first purchase,what is your 5,10,15 yr plan etc.

Also as you start find a mentor you can trust who has done what you are hoping to do,good luck!!

little link below may…[Read more]

Have been talking to a few local property managers and have been looking at new builds in the new estates in north east part of the city towards the race track

Regards
Coota

Have looked at flood maps and location looks ok as it is closer to Logan River Rd than actual Logan River…

Been looking at Waterford…

Looking at a buy and hold property-
 Property is 4 yrs old
4 Bed 2 Bath 2 Car 340k
Rent return $380-  $400 p/w
500 sq mtr block

Any thoughts on the areas of Waterford & Loganlea??

I was leaning towards ground floor unit as it has approx 20 sq mtrs extra living area with an outdoor deck area also.
Double storey unit has living area on top level including a small balcony area which I think was designed to take advantage of views to the city 

Unit details are below

Ground floor unit
*Living Area 64 sq
*Garage 22 sq
*Deck Area at the back of property approx 25 sq

Double Storey
*Living Area 48 sq
*Garage 22 sq
*Smaller living area with land area at front of property facing roadway(not usable IMO)

Both properties are same price

Coota

My report came up with a confidence score of 2 which is very high,relevant local sales came up with 10 relevant previous sales.

Regards
Coota

I have Investar  Search and My Valuer valued my property at $670-$750k with a bank valuation coming in at $760k some 3 months ago.
IMO that's reasonable close to bank valuation,but in saying that bank valuers are generally on the low side..

Regards
Coota

What would I be looking at with fees-charges per hour etc

Coota

Thanks for your sharing of your spreadsheets as I am hopeless with Excel formula's

Cheers 
Coota

Regards
Michael

Property is a new 2 bedroom unit so not much chance to add value in that regard with any renovations thus the strategy to rent out a look for future growth to release equity down the track.

Regards
Michael

Have just used this tool online from your link and it’s fantastic,I would suggest other forum user give it a try before they dip into their very shallow pockets….ha ha!!

Regards

Michael

Buyers Agent fees are typically 2-4% of property purchase price.
Not huge here in Oz but in America 50% of properties are brought via an agent.
IMO great if you don't know the area you are buying in and will make an unemotional purchase based on your stated requirements

cheers
Michael

So you could in effect move into the property in month 11 and still receive FHOG,could you also claim stamp duty concession in you lived in the property in month 11 for 12 months?
How would this effect you claiming your tax breaks with interest on loans etc

Cheers
Michael

Last valuation PPOR was valued at 760k which with current loan will release approx  230k worth of equity which has been drawn out into a separate facility to fund investment property purchases moving forward,so in essence just wondering if it is worthwhile doing another valuation now as the value has increased approx 10% in the last 12…[Read more]

Bank is ANZ with Break Free package which includes both offset and re draw

Cheers
Michael

Would the bank wear the cost of this or would it be me?.

Michael

Have about 150k in my super and looking at investing in property through super also,if you can flick me a copy of the Ebook 
that would be great.

Regards
Michael

Any way your Excel spreadsheets could be shared in this forum?

Cheers

Michael

Do you have a house or unit  as your investment?

I have 200k in an offset account ready to go so my sums are as below.

Purchase 2 properties at approx 420-450k at approx 70k outlay x 2 

Total outlay 140k still leaving approx 60k as a buffer.

Purchase price
$450,000
Total cost including duties/legals/LMI 
$480,000

Looking at purchasing 2 of these properties as initial outlay would be around 100-110k thus leaving approx 90k as a buffer in my Master…[Read more]

Looking at my first IP in my local area ie Thornbury,Northcote or Fairfield area in which I am really keen on

Fairfield units have only shown moderate growth in the last 5 yrs of 34%

My purchase budget is 400-420k

Buyers advocate is more due to my confidence level for more first purchase.