As I said, Richard is most definitely not in that bucket. Not everyone is in it exclusively for the money (or needs the money for that matter). People who genuinely enjoy helping others are not completely extinct yet. I have seen Richard put the brakes on people who are not suited for, or not ready for becoming a landlord, explained why to them,…[Read more]

What state is the property in?  Is there a rental agreement?  Do you have landlord insurance that covers rental default?  Did you take a bond on the property?

Sorry Freckle won't let you put Richard in such a bucket.  Very focused on the best interests of his clients over and above his own interests. 

painting, and preparing to paint, takes ages. removing old silicone is not a 2 second job either. 

Very high vacancy rates. i wouldn't touch it

Remember that joint buyers will have half the ownership but the ENTIRE responsibility for the mortgage if the other owner defaults on their portion of the payments.  This would sting if your partner did indeed default, but will also sting big time when you go for IP # 3 and find your serviceability is shot because according to lenders, you are…[Read more]

Don. wrote:
Hi Guys, as first port of call I would get some valuations done to see  what the real equity position of your portfolio is in the eyes of a potential funder.  To be serious you really have to look at investments and funding that don't rely on you wage income. Low LVR commercial real estate –  but only if you have experience. 

I’d…[Read more]

I agree completely with the boys.

Additionally I'd encourage you to take a step back and ask yourself what are your objectives.  You want to ensure a property takes you closer to your objectives, rather than farther away.  For instance, is this property going to cover its own expenses, and if not, how do you propose to purchase IP numbers 2 and…[Read more]

No shortage of people who have bought into negatively geared property for the capital growth they believed would happen. Whether it does or not (happen, that is), you still have to be able to fund the shortfall along the way. It is interesting (albeit not surprising) to do the math on how much of the capital growth is cancelled out by all the…[Read more]

Hi Rus,

Easy – get someone on your team who has already achieved what you want to do. Richard who commented above is your man.

It is a shame, sounds like your clients have bought properties that are not appropriate for smsfs. As you say, the property needs to pay for itself. I buy properties for client smsfs every single week. Low maintenance, high rental demand, good growth, and the properties pay for themselves. With a strict set of criteria the smsf can thrive. And…[Read more]

Hi Rus

A few things to think about are:

1. Buying entity. You could potentially buy even more properties inside a smsf

2. Proximity to retirement age, will largely dictate strategy.

3. Proximity to retirement age, how much spare time you have and whether your time is better spent generating the cash as a CPA will dictate whether you should DIY…[Read more]

If you have a bank account in both Australia and in the US, you can simply use http://www.ozforex.com.au to move money from one account to the other.  You do it as a "deal" and your U.S. account would be the beneficiary of the deal.

Do your homework on which lenders and insurers would touch it, and under what terms.  (Expect insurance premiums to be sky high, mortgage interest to be high, and LVR to be low as already suggested by the others).  You'll also need to check with council to see if you need a permit to operate the property in this manner.  The topic of boarding…[Read more]

Hi there, this might be better in the Overseas Deals forum

Hi there, this might be better in the Overseas Deals forums

Hi there, this might be better in the Overseas Deals forum

That is only 2 suburbs nationwide. Not “everywhere and by double digits per year”

Nice post Taylor, full of accurate facts

Yes I also thought double digits was an exaggeration. None of mine went up by a factor involving double digits.

Hi Steve

If I were you I'd snap up the offer to sit down and talk with Richard quick smart.  Very knowledgeable fellow, and can look at all the contributing factors to your circumstance and determine the path of least resistance towards your investing goals.