Hi Jackie,

You could use a real estate agent to source your property however be aware real estate agents are employed by the vendor and as such are legally bound to look after their interests and not yours.

An alternative may be to consider the use of a Melbourne based buyers agent who can be employed by you. As such they have an obligation to…[Read more]

Hi Donella,

Not Richmond – but can’t let a chance to get my post count up go by.

Look to the left hand side of the board and click on ‘forum boards’ this should show a drop down menu underneath. One of these ‘buttons’ is a search button – click on that and off you go.

Derek
derekjones1@bigpond.com

Property Investment Support Available.…[Read more]

Hi James,

I recommend a search on Victor Ollis and/or Country House and Land to see what others think. This group has come up from time to time before.

I suggest you read the fineprint and, if necessary, seek legal advice with a view to getting the lease away from CH & L related parties.

It is easy to be wise in hindsight but a 10 year…[Read more]

Originally posted by DD:
god guys did you actually read the question. I have to wonder about your ethics if you recommend to someone about to loose 1/2 the family income to a new bub(we had that 4 years ago) and you recommend more than an 80% lend.

Sorry to get heated but wild recommendations really upset me.

DD

Hi DD,

Wild recommendations?…[Read more]

Hi Steve,

It is one thing to share ideas and network but it is a competely different matter to pool money.

Correct structures and ‘legal advice’ is required so things do not go ‘sour’ and if they do the interests of all parties is protected as much as is humanly possible.

Derek
derekjones1@bigpond.com

Property Investment Support Available.…[Read more]

Hi Cristina,

Recommend you get in touch with Dale Gatherum-Goss http://www.gatherumgoss.com

Derek
derekjones1@bigpond.com

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

Hi Lucifer,

Sheez – pushing out to 97% in a flattening market – I don’t think I would go there [biggrin]

Derek
derekjones1@bigpond.com

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

Hi Phil,

Based on the information provided it would appear that you have approximately $100K equity available to use for deposits and purchasing costs.

This $100K + $300 mortgage represents 80% of the total value of your own home. You could increase the $100K by another $50K if you were prepared to go to a 90% lend.

My counsel would be to look…[Read more]

Hi Jay,

Banks have their ‘preferred’ or panel valuers and as such you will need to use one of them otherwise it is highly likely the bank will get another valuation done anyway.

You can avoid the need to pay twice if you can find out who the banks valuers are (your broker will help) and get them to do a valuation.

When asking the valuer to do…[Read more]

Hi Wayne,

Welcome aboard and I am sure you will get a lot of information from the people who post here.

The types of investments being promoted by IF tend to give an inflated view of the cashflow situation as they are furnished and a such there are increased depreciation deductions available to improve the cashflow situation.

Short term…[Read more]

Hi Devil,

As you already have a card I would suggest that an increase to your current limit may well be very quick.

Whereas if you were to seek a new card, personal loan etc a financial analysis of your situation would be required and as such this would in the main be longer than an increase to your credit card limit.

Hang around and a broker…[Read more]

Hi Devil,

Credit Card?

Derek
derekjones1@bigpond.com

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

Hi Stuart,

And I thought you were a only ‘finance broker’ [bigeyes]. Jo thought I said ‘advisor’

Don’t worry I regularly grill my broker about how things are changing in the market place.

But yes I will read your articles more diligently from now on – all tests to see if I have read the articles can be emailed to me…[Read more]

Hi Misty/Redwing,

Consider buying Dales ‘TAx Battles’ manual. For $99 (tax deductible) you will get an extensive list of claimable deductions.

http://www.gatherumgoss.com

Derek
derekjones1@bigpond.com

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

HI Mel,

Totally agree with your comments – I guess the low 5% gives a safety margin over the long haul and provides a buffer for the lean times.

Lean times you ask – superannuation fnds in recent years would have been grateful for 5%.

Derek
derekjones1@bigpond.com

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

Hi Gatsby,

Read your property management agreement to see what is involved in ‘sacking your PM’ there may be some conditioons attached. I receommend a call to your state REI to see where you stand. Be aware soem PM agreements have a little clause stating they will receive their due management fees for the remainder of the lease even if you sack…[Read more]

Hi Misty,

Valuers produce reports for a whole raft of reasons one of which is for financial reasons (new purchase, refinance etc) and as such they are required to undertake ‘research’ to ascertain the true worth of the property.

Some valuers are more thorough than others and will study records of comparable sales in the area – they may well…[Read more]

Hi Y,

Budgetting is a relatively straightforward process – whether or not it is successful depends on the accuracy of the data you input and the commitment you have towards the process.

Very simple process – analyse your spending habits and identify your income levels from all sources.

Then identify essential payments (loans, utilities,…[Read more]

Hi Karl & Rita,

Duplexes are recognised by the council and various government authorities as being separate properties and as such the owners of each half will receive separate bills for things such as water use and rates, council rates, land tax levies, popwer etc.

Check wether or not you have to have a body corporate group anyway – in Q and WA…[Read more]

Hi Evenflow,

Such arrangements are recognised by the ATO. I recommend a look at the ATO website ‘Guide To Rental Properties’

Apportioning expenses such as rates, insurance, taxes, repairs, interest etc is done on a propertional basis with proportion being determined by the amount of floor space typically accessible by the boarders.

I would…[Read more]