Hi jackyngewThe overriding factor is going to be your ability to service (ie pay back) your home loan and also an investment loan.  The banks tend to only count 80% of potential rent as likely income.  It looks to me like you're on a principal and interest loan, and are paying almost $2k per month towards your home, does that sound about r…[Read more]

Hi propertyboyI actually don't know the answer to your question, but know that a quick call to the council planning department would answer your questions

Sounds like the exact same copy/paste rubbish that appears in several other threads to me.  Make a productive contribution, ksherwell10.  Otherwise nobody is interested!

AussieFly wrote:
So what do people think are the pick suburbs of Melb with regards to investing.Anywhere for around the $300K mark??

If looking in the West, Tarneit.  Due to receive a new train station on the Werribee Line at Williams Landing.  Due to receive another new station on a new section of line in Tarneit itself.  Expansion of We…[Read more]

Sounds like good cashflow to me!  Just on the numbers alone, my interest would be there.  It would be very interesting to know if the council would be likely to permit a subdivision, thus putting the granny flat on its own title.  This would be useful if you wanted to sell it off.  No point if you're going to keep the whole property.  All you&…[Read more]

Follow the infrastructure is a good one.  ie look at where freeways, new train stations and train lines are being built.  Also look at shopping complexes.  People cluster around Westfield

Hi againSounds like you want the place to be your family home.  What about Keilor East?  Depending on what you choose, there might be a little bit left over to purchase an investment property too…Glen Waverley is a nice suburb on the other side of the city.  More hilly and leafy.  If it is going to be your family  home eventually, it really depe…[Read more]

Hi dreamerman.Hm yes, dilemma.  What are your wife's concerns?  Sounds like you have enough cash to put down a 20% deposit and also pay for the stamp duty on a property, without having to offer up your home as security.  Perhaps your wife needs to hear what the backup plan is if something goes wrong (eg you get zero tenants – unlikely).  If you…[Read more]

When I am retired, I don't particular fancy having to answer to a landlord.  Or being asked to move from my little comfort zone of home because the landlord wants to do something else with the property.  No thankyou.  Pretty sure I will be set in my ways and want to feel settled in my home.

I got a quote for such a service recently.  Pretty sure it was around the AUD$400 mark.

Benjamin Csikos wrote:
More than 70% of australians retire at age 65 on an average income of $300 GROSS per week or less.

That is scary stuff.  When you consider that it costs $10 to buy a steak in the supermarket, it's pretty obvious that the food bill per person per week easily clocks in at $100 or more.

Hehehe I once attended a seminar that advised against discussing property investment aspirations with friends and family.  Perhaps try mentioning to your wife things like this:Property goes up in value approx 10% a year.  Your salary does not.  So the market is rapidly pricing you out.  Get on the boat quick.Look at the ageing population.  Do you…[Read more]

Once again MPS – really adding value to the topic there.  Stop copy/pasting the same advertising.  You are not adding value.  Have some in…[Read more]

Multiple Property Services – simply copying and pasting the same marketing pitch into threads on this forum is not helping to educate people.  Users of the forum have no beef at all with commercial operators pitching in their 10c worth, as long as it is informative and relevant to the original question at hand.  Take a look at the way Richard (…[Read more]

Awesome matie – very exciting !  May I suggest that you carry a little notepad around with you everywhere you take your book.  When you read a bit of info that you hadn't known before, make a note of it in your little summary notepad.  If you don't do this, after a couple of books, you forget some of the nuggets you've learned Also get a lo…[Read more]

ps this is a good read https://www.propertyinvesting.com/forums/getting-technical/finance/4325393

Have you looked at the subdivision around Werribee?  Jump on Google Maps to see.  There is a new train station going in at Tarneit.  Another at Williams Landing.  Another at Wyndham Vale.  Werribee Plaza is expanding again, apparently…The future of Melbourne is apparently that there will of course be the CBD (Melbourne), but a series of othe…[Read more]

Correct.  Obviously at some point, the bank expects you to pay them back for the original price of the house if you wish to keep it (otherwise you'd have to sell it to pay them back).  So if you never intended to sell the property, and let's say the property originally cost $200k, then you'd eventually want $200k in the offset, so you could give i…[Read more]

Another argument against floorboards is this:  not sure if there is an apartment above yours or not.  However imagine if the upstairs apartment had some plumbing trouble and it leaked down to your place.  I am guessing your lovely floorboards would rot quite quickly?  Lino is a plastic I think?  I'd imagine that would mean it would hold up much…[Read more]

My parents have lino which looks like floorboards.  It looks great, feels great underfoot, and gives the house a peaceful feel (because you can't hear everybody's footsteps )  If you're planning to cover your floorboards with rugs anyway, there probably isn't much difference, aesthetically, of whether the flooring that pops out under the edges is…[Read more]