If you already have a few investment properties with the same bank. Then they will know that you are reliable and that to keep you as a client(or whatever) they will need to lend to you, even if your income is a little low. They may slightly bend the rules for you.

Originally posted by TimC:
we had a tenant once whose rent came straight out of his centrelink pay….altho we never had any dramas with him and paying rent, from talking to our property manager it isnt as good as it sounds as the tenant can just call centrelink and cancel the direct debit (as mentioned in above post) without telling anyone…kind…[Read more]

Cinema tickets, sounds like a very good idea. The idea(from the tenants perspective) of each week(or fortnight) going out to the movies with the landlord paying would be a very nice incentive to paying your rent on time.

Thanks. Hmm, thats sorted for now…..

Christopher.

Dam, ruins it. Hmm, now i’m going to resort back to just having the HELP debt and paying it off from my tax when I earn more money.

Hmm, I don’t know dam…..

You have to earn a certain amount to pay it off. Say you have no job and all your income came throught trusts(and the like) and you technically(and legally) had very little income to your…[Read more]

I think I will go with the idea of borrowing off my parents and paying them back as quick as possible. With this I will pay complete upfrontand save 20%. I will easily be able to get rid of the debt as I have been paying $100 off my car for the past year and it will be paid off in 2 months, so It won’t matter to me if that money will still be…[Read more]

Read books. Thats what I have been doing since I got interested in property investing(in august 06) and I have read 7 books and half way through my 8th. Crazy stuff!!..

Reading lots of books will help tones, so much info just came to me by jsut reading. I suggest you read rich dad poor dad. Its the ultimate starting book for any property investor…[Read more]

hmm.

I’ve been hearing about this word ‘settlement’ a dam lot and theres like settlement periods of like 30days,6 months whatever. What does that really mean??(completely). And can it have anything to do with the FHOG.

Christopher.

How long(IN NSW) do you need to be living in this place to get the FHOG before you can then rent it out.

As I am planning on getting a dump and doing it up over 6months. And then i’ll be ready to rent it out.

With the FHOG and the PPOR someone said that stamp duty costs nothing at all. ok, so with that in mind do you still get anything else. Or…[Read more]

Also i forgot to mention, that for me to pay them in full, i would need to borrow the money off my parents. So i would be saving 20% and my parents would be paying the interest as i pay it off.

This is such a tricky situation.

Great idea DLLP. Thanks, I’ll have to ponder over those and get back to you. hmmmmm..

Christopher.

So your suggesting I keep the money in a savings account(and save it entirely), so that i can push myself into the property market much earlier.

My goal is to have my first IP by before i am 22, if i dont get it before im 22, I will be very dissapointed in myself.

Anyone, this has been driving me crazy for the past few days, someone reply.

In need of advice, im desperate.

Hmm. Then what would a similar way(maybe including the rent) that could indeed pull in more prospective tenants and improve their motivation to paying the rent on time.

Christopher.

What are the values of all of your properties(including the PPOR).
If your PPOR is way to high for just the two of you(or maybe 3), then maybe yoiu should switch to living in one of the cheaper IP’s and then rent out your PPOR at a higher price than the other IP was, this will bring in a bit more rent and will also make the higher mortgage…[Read more]

Hmm, so whats the catch. It seems like jsut a better way to go for everyone. Is there a penalty(e.g.Slightly higher interest rate)??

Christopher

Dam, thats another idea down the drain.
I’ll just have to keep trying…..

Well. I’ve looked through all the available savings accounts and decided on a savings maximiser ING DIRECT account. I recieved the infopack today and have read through it all(including the product disclosure statement). I’m going to fill it out and send it in very soon and then my good financial decisions of my life will have begun.(except that 8K…[Read more]

what is this home study version, how do you get it, how much does it cost?

Christopher.

Thanks Meeg balance is very difficult in my life at the moment, juggling between family, friends, relationship, work, study and even time to myself is very difficult and when i add in that im starting to become obsessed with property investing, there is just not enough hours in the day for everything. I may have to stop sleeping(nah joking), thats…[Read more]

Thanks Terry those sites were good, so much more to see.
Cata, My copy of bulletproof asset protection is coming in the post and i should have it in a few days, cost me only 25bucks compared to the 60 in the shop(super bargains).