Hi, YanAt the end of the day, you should still include property, in addition to equities (and hopefully a business) as part of your wealth-creation strategy. Like some of said here, better to lose that 0.25% and treat it as a lesson learnt. You will make back that lost money with the next purchase.The lesson is to ensure you have viewed enough i…[Read more]

Hi, I read a quite a number of investors locked themselves in with the Westpac (I think it was them) 4.99% Fixed 3 yrs loan, when it came out  few weeks back.Personally, going to ride the variable rates for a while.RegardsDaniel Lee

Hi, YanPerhaps what is lacking is proper research on your target suburb? We bought our PPOR in Nov 07 and am looking for our first IP now. However, there are loads of FHB going around bidding for whatever they can get their hands on, so we have to thread carefully. Did your initial research into the area indicate that the price for the property…[Read more]

Hi, SHalesIf you ever watch the show Idiocracy (an Amercian show produced in 2007), it will scare you even more.I highly recommend you watch it.RegardsDaniel Lee

Hi, Young InvestorI agree with the brokers here. A mortgage broker, with experience in active RE investing, will be able to provide you with good advice on loan and portfolio structuring. Of course, you have to find a good accountant to help you with your tax-returns, etc.Also agree that it is pointless to walk into a bank to negotiate, unless you…[Read more]

Hi, IPDo you mean:1 – We get the quotes for the work we want done, and decide on the best ones;2 – Source all the 2nd hand material we want the tradies to use, while allowing them to purchase brand new material if needed;3 – then simply hire a PM to manage the process, while giving him the authority to contract other licensed tradies if needed? 4…[Read more]

Hiinteresting… an accountant told me just 2 wks back that he was told by a contact that their research pointed to the ASX falling to around 2800, and that is supposed to be the bottom it can go. Did not really believe the accountant initially, seeing how the ASX sat pretty at around 3400 for wks… with more bad news coming in and now that the…[Read more]

Hi, JoycePersonally, anything between 5 mins to 10 mins walk to the train station is ideal; that is about 400m to 800m, or 5 mins per 400ms. Not much structural damage can be achieved by the vibration of the train passing by; the drought and drying up of the soil can do more damage to a house though.As for trams or buses, I agree with IP Freely;…[Read more]

Hi, IPThanks for your input. That clears up a lot of doubt for me. I went to the Vic Building Commission website and checked out a couple of the licensed Builder Domestic Managers / Unlimited, but was not sure how to proceed or ask.I read in SS that a license PM will charge between 20-30% on the total reno cost. We are currently looking at…[Read more]

Hi, LokkiNancy Keep invest in regional areas and has a couple of positive cashflow IPs, if that is what you are specifically looking for.However, a few of the forumites (including myself) have had dealings with her, and the generally feedback is that you have to ask the right questions to get the right answers from Nancy. She will simply respond…[Read more]

HiAn update on my last post.I believe these 'project managers' that I refer to all called Registered Building Practitioners, registered with the Building Commission of Victoria. Was thinking of getting a 'Builder Domestic Manager' to manage the reno for our IP. Anyone has had experience using one ot these RBP?RegardsDaniel

Hi, RichardI am of the thinking as well, that a broker providing such low prices would be spending minimal time on each client, and not keen on providing value-added services. Also, my feel is that companies like YourShare would be good for those who have the time to find out / work out the best investment options for them, and think that their…[Read more]

IceCool: I will PM you. Always good to meet fellow countryman who are interested in PI. Will trade some info and take it from there.Plasticscalpel: When we went to Nancy Keep, she took that approach of letting us speak and responding to our questions, so we got out from that meeting what we asked her. Still, perhaps it was because we were not…[Read more]

Hi, Was doing a search on a similar topic, as my partner and I are looking to purchase our first IP and it will be reno job. Our target suburbs are easily about an hour's drive away, and we do not want to be personally managing every bit, having to drive to open the door for tradies and all that. So, time is more important to us and we would be…[Read more]

Hi, guysInteresting topic, as my partner and I are looking at doing a reno for our first IP as well.Did anyone see the Better Homes and Gardens last night, where they set a limit of $500 to do up each part of a house? Was amazed that they could do up a garden simply for under $500. Makes me think how many people will be keen on trying their hands…[Read more]

Hi, Time to give an update to this thread.As mentioned, I met up with this knowledgeable accountant who helped us with the DT. The DT Deed was set up by a Sydney law firm called Hunt & Hunt, which TerryW tells me is a good firm and does good DT deeds. We got all the paperwork signed on Thursday 19th Feb and am now working on the IP loan.The icing…[Read more]

Hi, RichardThat was what I was think as well, that you get what you pay for. Unless there are brokers out there providing solid advice at cut-throat prices.The staff from YourShare told me that they are starting up a new mortgage division, and have partnered with a mortgage broker who has agreed to go with their business model. That got me…[Read more]

HiShould have given more details.The brick oven is located in the kitchen. It is one of those small ones. I have attached the link to a photo of a similar oven.http://www.nomadpizzaco.com/oven.htmlThe oven in this property has been disused for a long time, so the family 'rendered' the inside of the oven and placed a small microwave oven in it. I found it…[Read more]

Hi, EddieAh yes… the accountant did explain to me, but I was not able to get it the first time. Making a Trust election is important, that it limits certain people within the family group. I see that now.Where are you based, Eddie? I have already started with this accountant, and will keep you in mind in the future.Terry: Thanks for your…[Read more]

Hi, EddiecThe accountant is a CPA, so that helps in this case.Good to know that an income loss can be offset again capital gains.One more question: Does making a Family Trust Election have any disadvantages, in terms of limiting who the beneficiaries are? Or it has absolutely no effect what so ever on the Trust as a whole.RegardsDaniel