Do you have a history of savings as from what I have seen Banks are currently tightening the proven savings evidence requirement because of the FHOG suddenly adding $24,000 to first home buyers deposits.

Sounds sus like illegal gains from crime.The bent cop on the Bill converted stolen cash to diamonds to bring money into Australia in the show the BILL.

Step one go to lender and find out your borrowing capacity so you know how much you can afford.Sometimes crappy properties that need TLC are not advertised on domain or http://www.realestate.comYou may have to go into a real estate office and ask what properties they have that suit your price range and requirements.Only the best properties are in the…[Read more]

Is it your contents that are being insured? That is the only reason to have contents insurance.LandLord insurance covers you for things like malicious damage, lost rent while getting damage fixed, public liability insurance (10 million dollars)  in case someone is hurt in your property and building.I would recommend you investigate Landlords…[Read more]

I would suggest that you attend once every 12 months or maybe once every two years. You will have a more selective eye than a property manager who looks after many properties. You really want to look for wear and tear and although you can't blame this on a tenant you should get these things fixed to keep your property in a good state. My tenant…[Read more]

scullymanLesson Do not rely on one banks version of realityDo as my wife does when she goes shopping – look at many shops and compare prices and policiesLesson twoLook else where as lending policies differ between lenders and do not authorise any lender to access your credit record until the loan has been approved !

Sprocket, to be tax deductible you have to borrow money for an investment purpose. But you cannot redraw and put it in an offset account and get a deduction.however you could get a line of credit on house one living in it as your PPOR and using the line of credit loan against it as a deposit for an additional investment property. This would…[Read more]

Pental wrote:
Hi all,I have a few questions that the more learnered of the forums may be able to help with.So lets go …Firstly a summary, We have some assets already. About 300K in the bank (cash), fully own our home 300K+, and about 150K in rural property. No loans, no debt (yet), no official IP's.Ok now the questions.(1) I understand we…[Read more]

Option 3 – Ask yourself where is PPOR exemption going to be on the country house or remain for 6 years on the city house.If you move the PPOR to country house you need to get a valuation done on the City house as it is no longer PPOR and you need to establish cost base for future Capital Gains Tax event ie selling .

Richard Can an Australian get finance from an US lender ?They probably have very low interest rates – currency exchange is a bit risky though

If you are planning on getting the first home owners grant then you will have to live in the house to begin with.Always look at the long term outlook .If it is a liability for 12 months but is turned into an investment after 12 months for say 15 years with a consistent plan to pay it off .Then the small liability time of 1/15 of the time may be…[Read more]

Just do a search for floor sander on Googlehere is an example of some professional sandershttp://www.mirrorfloorsanding.com.au/http://www.lowesfloorsanding.com.au/http://happyfnp.com.au/http://latzifloors.com.au/http://rivergumfloors.com.au/http://www.getagleam.com.au/http://www.homeimprovementpages.com.au/home_maintenance/Floor_SandingWant to do…[Read more]

Another thing to be aware of is that if you get a trade person to do work on your property and they are somehow injured you could be legally liable if the accident happened on your property in Australia.

Sounds like a good way to get a foot in the property market. You just need to be aware that capital growth may not occur and look at reducing the loan amount as fast as possible to create a positive cash flow investment as you can't rely on capital growth.You might want to consider setting up an offset account linked to your loan.and put your…[Read more]

If you are able to live with your parents you could pay off the loan big time by renting the whole house out and using the rent and your income to pay off the loan. It seems like you are getting no where but the $270,000 loan at 20 years at 7% costs $202,000 in interest where as from the loan going down to $240,000 at the same repayment level of…[Read more]

neilvs wrote:
To all you financial/tax experts out there:I know that i can go to the bank and take out a loan specifically for the purposes of purchasing shares as an investment.Say i borrow $100 000 through some type of bank loan.Let's assume that in under 12 months (during a certain tax year) i have made $10 000 profit through the sale of…[Read more]

the reason that banks look at less rental income is to factor in vacancy periods if you lose a tenant.Maximum Leverage and positive cash flow don' t  always go together. If you get the principal down you increase your borrowing power and reduce risk."I still don't see how it's possible – with our banks' lending criteria – to build a substantial…[Read more]

The real estate agent may also know who does a good job rather than have a nightmare job half done or mucked up.My parents have a house in a rural location they have been doing up and trade people are hard to find.

What about a family member guarantee on the amount that is the short fall to keep lender happy.Maybe a joint partner like girl friend if she has a job I had the same problem when I went to university and still have the problem due to not getting a job after university so I have limited borrowing power.

My PM is using hire a hubby to come in and change the battery every 12 months.