I have gotten quotes from Terri Scheer a few times… they are really expensive.

I favour AAMI for normal properties (eg houses, individual units).

Just a point to note… while it is quicker on Firefox, it is still agonizingly slow.

jmsrachel wrote:
I have the exact same problem! I got so frustrated that I punched the laptop screen and now It's cracked and went with last Fridays bin collection.

Hahhaha!!!!!  Off to Officeworks in Synott St you go!

Am I the only person choking at the idea of paying $850 per week in rent?  You could pretty much buy something for the same weekly outlay…

jmsrachel wrote:
Bugger! I wanted to sit next to jacm!

Ahh you have to buy a separate ticket for that privelege Joe !!! 

Even if you could find buyers and renters happy to live in such a small dwelling, there is no laundry and no parking.  Stay away from these units.

Jamie who has responded to you above is  very well respected mortgage broker on these forums.  Give him a call and get him on board.

Talk to a good solicitor immediately.

Rick sta wrote:
I'm using an 'edge gearing' strategy as I am young and don't have a great deal of capital, Also the higher risk strategies excite me.  Hopefully it works out…

I have decided to have a crack at the "really low offers" strategy.  Make your money when you buy and all that.  I just put in an offer of 20% below asking price and…[Read more]

PLC wrote:
Interesting to see what the RBA do next month as there is no meeting in January.

If they stay unchanged, it might suggest that we're at or close to the bottom.

Cheers

Tom

Good points.  One cannot ignore however that the UK has been sitting on interest rates below 1% or something stupid like that for quite some time now.  Anyone…[Read more]

Terryw wrote:
What time does it come out? 2.30 isn't it??

Bang on 2.30pm Terry, yes.  Since the value of a currency is affected by movements in interest rates, it is always a very good time to be paying attention not only from a mortgage interest rate perspective, but also a foreign currency exchange rate perspective.

About 4 years ago there…[Read more]

Since the banks seem to be making up their own rules on interest rates passed to the mortgage holder, it probably doesn't matter much what the RBA decides! 

re the badges, ROFL !

At the risk of being a whinger, in all seriousness the new site does worry me because I think it conflicts with the key message Steve's trying to get across to people.

If you take a look at what Steve leverages the site for (selling information products) and what he values (the sharing of knowledge about investing, and a…[Read more]

You can do the "final inspection" whenever you want.  It's just better to do it as close to settlement as possible in case anything has changed that will be a game changer for you.

The selling agent is not really batting for you… they don't want anything stopping their paycheck, which doesn't happen till settlement occurs.  I don't think it is…[Read more]

Contact mortgage broker Richard Taylor http://www.tayloreredfinancialsolutions.com.au .  Send him an email.  He'll do your SMSF mortgage, and will suggest suitable accountant and solicitor.  You do not need people in Toowoomba.  You just need good people.  Everything is done via phone and email now.

I hate the numbers also.  It'll take you forever to get this mortgage under control before you could even consider getting on with buying subsequent properties and building wealth.

Why not look at second-hand property that you can renovate to add value… or houses on large blocks futher out?

Hi Smidy

Why do you feel the need to "meet with" the accountant?  These days it can all be done via phone, email and fax. This is a good thing because it means you are not restricted only to accountants with offices in your local area.

ps Jamie M, who has already responded to you in this thread, is a well-respected mortgage broker on these forums.  Give him a call and have a chat about your goals, and have him get you started on getting there.

Hi Steven

Wow that's a very specific target – 58 cashflow positive properties.  I am intrigued to know why the golden number is 58?

I don't care how many properties I have… so long as by the time I am retired from the workforce, the rents (after paying expenses such as council rates and so on) cover my living costs.  Then once that goal is…[Read more]

Understand your customer.  Quite often in low-socio-economic areas there is a very healthy rental demand since not everyone wants a mortgage (or can qualify for one).  Understand the needs of your customer.  Don't presume to know the needs.  Ask point blank what they are.  (You can do this by asking tenants straight out "What is annoying about…[Read more]