Hi Joe,

Not a problem and no offence taken at all.

It’s just that most (all ?) people primarily focus insurance issues on matters related to building damage/loss, loss of rent etc without due consideration of public liability matters.

Hopefully my comments will highlight this aspect of insurance for other…[Read more]

Secondly, Landlord protection insurance very important a friend has a IP in newcastle and guess what, a fire brakes out taking the kitchen and dining room out.

He can count his lucky stars he had insurance, property was being repaired and collecting rent at the same time.

Hi Joe and Shaun,

While this sort of ‘issue’ causes grief to the…[Read more]

Hi Bradles,

The only thing I would do differently is to start ‘leap frogging’ my properties a little earlier.

Other than that a happy chappy here.

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never stopping. PM welcome.

Originally posted by westan:
but want to add get an “independant” rental assessment on the property to confirm your figures,

Hi Kylie,

As Westan mentioned and Agile alluded to, you should verify your expected rental figures with an agent independent of the selling agent. This way you’ll be able to confirm or reject the rental figures which may…[Read more]

Originally posted by geo:
its all tied up in equity – not in cash that you can use.

Hi Geo,

Hmmmmmm – cannot use equity?

The lending world has significantly changed in the last two or three years and even a basic strategy such as a ‘reverse mortgage’ is readily available to asset rich cash poor people.

However the downside of the reverese…[Read more]

Hi Fulloout,

We paid $520 for a solicitor drawn up will & enduring power of attorney 18 months ago.

For me the $ is a sound spening of our money as it ensures our assets will be distributed according to our wishes. Even though our situation is relatively simple husband, wife and two kids with no ex-partners in the picture it ensures there is no…[Read more]

Hi Kash,

One of the first things you will need to provice as a ‘would be’ spotter is a high degree of credibility. This is best (or should that be only?) achieved by being an investor yourself and by having the runs on the board.

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never stopping. PM welcome.

Originally posted by Lucifer_au:

Also it’s hard to live on negative gearing when you retire (if you saw Steve’s free book launch speech you would know why).

Hi Lucifer,

But it is possible to live on equity achieved through sustained capital growth.

I recommend anyone who doesn’t believe this attend a Steve Navra seminar http://www.navra.com.au or…[Read more]

Hi all,

Some food for thought.

http://www.theaustralian.news.com.au/common/story_page/0,5744,11058143%255E601,00.html

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never stopping. PM welcome.

Hi Mischief,

Figures (price, rent, returns) are a little subjective and an individual’s reaction to them will vary based on their personal beliefs and investment choices.

Without knowing the area (and I advise you keep that to yourself) it is hard to comment about the specific property but………

Make sure you are paying market price (or…[Read more]

Hi Helen,

I don’t believe anyone is saying don’t use the net – more is the point that the ‘net’ doesn’t fully reflect what property is available at this point in time.

Nonetheless it can be a lead point and considerable ‘after interest’ research would be needed to get the ‘deal’ over the line anyway.

Derek
derekjones1@bigpond.com

Property…[Read more]

Hi Helen,

The other thing you need to be aware of is that some agents do not keep their website up to date and some of the properties on the web had previously been sold and were no longer available. The ads generally being left ‘up’ to get contact details from would be/could be buyers.

This aspect of web advertising may have been tidied up a…[Read more]

Originally posted by MJT:
Aren’t builders display homes usually the flasher homes in the newer suburbs?

Hi Matt,

The floor plans are usually found within the local area too – depending upon the numbers of buyers who opt for that particular design. Where they do have an advantage is that the yards are fully landscaped whereas some Mr and Mrs…[Read more]

Hi Yorker,

Anyone thinking now is not the right time to invest in property should read the Fred Johnson story – Fred has been investing since 1954 and regularly got advised to not invest in property – needless to say he ignored their advice and kept investing for the long haul.

Note – I am not advocating reckless decision making but thorough…[Read more]

Hi Xon,

All our IP loans are I/O. When the PPOR loan is paid out (or had a big hit) we will reconsider our options then – but for now all I/O.

The other thing you can consider is take out the loans as I/O and then, if the time is right and it suits you, you can make additional payments so that you get stuck into debt level.

I/O provides you…[Read more]

Hi Stombiz,

The only other comment I would make is that, based on my observations, it seems that the builder’s display homes are generally located on the busiest street in the subdivision, often at the main entrance and as such traffic noise could be an issue for resale purposes.

Derek
derekjones1@bigpond.com

Property Investment Support…[Read more]

Hi Julie,

Here is the other thread that Jo is referring to. I’ll lock this to keep the board ‘tidy’

https://www.propertyinvesting.com/forum/topic/13242.html

Derek
derekjones1@bigpond.com

Property Investment Support Available. Ongoing and never stopping. PM welcome.

Hi Stephen,

As a rule of thumb most financial advisors earn an income from peddling managed funds and as such will generally steer you away from property anyway.

Where you live and your preparedness to travel, or consult, from afar could impact on suggestions given. You may find the answers and suggestions given more productive if you identify…[Read more]

Hi Tony,

The REINSW (or whatever they call themselves) may be your best option.

You may well find that the number of agencies is relatively the same, apart from buyouts etc, whereas the number of agents may have diminished somewhat.

Real Estate seems to have a high turnover rate and as such accurate figures may be difficult to…[Read more]

Originally posted by geo:
Since your borrowing against your current property, you may be able to use some from that for tax deductions.

Hi Geo,

Just clarifying for Nessa.

If the purpose for the new loan/refinance is to buy a new home then this will not be allowed as a deductible expense.

If however the new loan is for investment purposed then…[Read more]