Agree with Redwood.  It's unwise to go around labeling someone as a spruiker unless you want to get yourself sued for defamation.  Similarly, it's a bit steep calling someone "dodgy" without reasons and examples to justify the comment.

Hi bobaaaaa, Richard was talking about public liability that was not as forgiving.  Public Liability otherwise known as getting sued for anything and everything.

Hi Corie,

It is certainly possible for demand erode in areas other that mining.  Once the magazines start telling people what a great spot Town X is to invest in, brace for the influx of investors.

Hi Newcastle Knight,

Tread with some degree of caution buying into suburbs openly publicised as being boom suburbs.  You would not want to find yourself owning a rental property that is hard to rent out because too many investors have flooded into the area and there are more rental properties than the area requires.

Hi Jambv, sorry to hear about the motorcycle incident.  Have you considered White Knight laminex and tile paint? It's not ideal, but the result is apparently pretty good if you scratch the surface up with steel wool and then paint it.  There is some discussion and pictures here;…[Read more]

Hi Corie,

Nice to meet you.

My comment is not wishy washy at all.  The idea of investing is to take yourself forward.  If indeed a shift changed in your investment suburb, the hit to your hip pocket would be greater, the more properties you have there.  It is necessary to ask yourself the question "what would the impact be if they were both…[Read more]

It is surprising how quickly a tight vacancy rate can change once the magazines and forums suggest to everyone that it is a hotspot.  On one hand you could reproduce by purchasing in the same area, on the other hand then you have all eggs in one basket.  Sometimes it is good to spread your risk.  It would be unfortunate to be sitting on two vacant…[Read more]

Hi cbarry

It might help to alter your method of setting the target.

For instance, rather than naming a few suburbs and hoping the numbers on acquiring property in such suburbs will work for you, perhaps instead define what financial position the property you purchase needs to present to you, and then buy in locations that match this criteria. …[Read more]

Don't forget the insurance issue as already raised in a previous post "Your home insurance will be void if the property is uninhabited."

If the banks and the ATO felt that capital growth was the most important factor to a SMSF, they'd be stipulating so in their lending criteria and investment restrictions.  Conversely, the banks demand a minimum yield, and have restrictions on postcodes they will lend to.  It is thus fair to say that the bank is more concerned with yield.  This is,…[Read more]

Hi Ynchai – a few questions:  Do you have a depreciation schedule ?  What is the location of the property ?  How big is the backyard ?  What type of dwelling is it ? (eg House with 3 bedrooms).  Is it near a uni or hospital ?

Hi David, tread carefully.  Be sure that each time you speak to a bank they are not hitting your credit file.  In this regard, it would not take long before you have destroyed your credit file and nobody will deal with you for 5 years.  As Jamie said, talk to a decent finance person that knows which banks would deal with someone with your…[Read more]

I agree with Joe, however the same is true on all of Melbourne's arterials.  The concern in the Werribee and Wyndham areas from an investing perspective is the high vacancy rate.  Capital growth or otherwise, if you cannot afford to hang onto a property due to a long vacancy, then you cannot hold it long enough to see if capital growth will occur…[Read more]

Hi brmiau

Do yourself and your future a huge favour and cancel your appointment with the bank. 

Instead you want a broker that genuinely knows how to make you wealthy.  Your bank does not know how to do that, and is not motivated to do so. 

You've decided what you want, so the best thing you can do is surround yourself with people who know how…[Read more]

WillisP wrote:
Thank you all for the responses, I understand that everyone’s time is valuable, but would any of you guys be able to assist further if I sent you a PM with additional and more specific information regarding my circumstances?

Hi Will

Any of the brokers that have posted would serve you well – you could send them a PM with…[Read more]

I think you should take your foot well and truly off the pedal. 

Don't buy something and then pray the numbers will somehow stack up.  Such an approach could easily lose you a big pile of money.

Get some quotes BEFORE buying things so you can understand how things will look financially after doing works on the property.  Talk to Property…[Read more]

Gidday Ozman,

As mentioned already by Joe, the brokers that have commented above are all awesome at what they do, and their clients become wealthier due to having dealt with them.  This is because they don't just get you a loan, they have the whole strategy in mind and are thinking several steps ahead, working out how to make all the factors at…[Read more]

You took the words right out of my mouth wilko!  Agree 100%.

I work with several clients who, like yourself, are working overseas and therefore do not have access to all the same mortgage products as those residing here in Australia. However it comes down to careful property selection. I have not had a problem with consistently finding solid property that yields well, thus allowing my clients to keep buying.

Remember to factor in the cost of your oven, hotplates, rangehood, sink, taps, and electrician and plumber labour costs to get everything installed