Agree with what the others have said. You need someone good. Not someone that happens to be just down the road from where you live.

Most of this sort of thing is handled via phone/email/skype these days anyhow.

You have to watch out for how some of the insurers cover “contents” in unfurnished rental properties. Contents would be your carpets and window coverings basically. As an example, EBM has a standard $50k coverage on these, which is astronomical on say a 1br unit. Thus one example of where high insurance premiums come from.

I find AAMI to be…[Read more]

Hi Matt

The thing with mentoring is that it is tricky to define whether the outcome was a success. You need to be clear on what the service offerings are and how you’ll measure it’s all been “achieved”.

When you are conducting your purchasing process, if you have the right team around you (brokers etc) you will learn a heck of a lot from them…[Read more]

Hi Matt

The thing with mentoring is that it is tricky to define whether the outcome was a success. You need to be clear on what the service offerings are and how you’ll measure it’s all been “achieved”.

When you are conducting your purchasing process, if you have the right team around you (brokers etc) you will learn a heck of a lot from them…[Read more]

You would need somewhere to move it to… together with council permits. As a first port of call, ring the council relating to the block you intend to move it to. Other obvious costs are for the house removal guys, and tradespeople at the other end to put it back together (especially plumbers).

Hi Dean

The reason the SMSF cannot change the character of the property while it’s under mortgage is because the bank/lender has taken a specific property with a specific title as security for the loan.

You cannot take out the loan giving them one house on one block of land (ie one title) and then suddenly split that title into two pieces,…[Read more]

Hi Dean

The reason the SMSF cannot change the character of the property while it’s under mortgage is because the bank/lender has taken a specific property with a specific title as security for the loan.

You cannot take out the loan giving them one house on one block of land (ie one title) and then suddenly split that title into two pieces,…[Read more]

Hi Dean

The reason the SMSF cannot change the character of the property while it’s under mortgage is because the bank/lender has taken a specific property with a specific title as security for the loan.

You cannot take out the loan giving them one house on one block of land (ie one title) and then suddenly split that title into two pieces,…[Read more]

Hi Dean

The reason the SMSF cannot change the character of the property while it’s under mortgage is because the bank/lender has taken a specific property with a specific title as security for the loan.

You cannot take out the loan giving them one house on one block of land (ie one title) and then suddenly split that title into two pieces,…[Read more]

The reason the SMSF cannot change the character of the property while it’s under mortgage is because the bank/lender has taken a specific property with a specific title as security for the loan.

You cannot take out the loan giving them one house on one block of land (ie one title) and then suddenly split that title into two pieces, because these…[Read more]

Once upon a time, bank interest rates were closely tied to, and tracked the RBA cash rate. This has not been the case lately.

Irrespective of whether the RBA lowers the cash rate, it does not directly follow that the banks will do the same (particularly in the case of investment loans and fixed rate loans).

It depends on whether you can afford to do it alone, whether you would enjoy renovating alone or not, whether what is more important to you about the project is the companionship or the profit, etc.

Yes and no. Yes they are interested in yield but they also know units have the burden of body corporate fees that erode your rent. If you look at the NET yield (rent that is left after paying the bills) you will be surprised how much the bills chew into the rent of a unit.

Maybe don’t rule out considering other suburbs/areas where you can afford a whole house.

Banks will look at servicing so the rental yield is indeed important. You cannot make loan repayments on the hope of capital growth, but you can make repayments with your day job income, and the actual rental yield of the property.

I Matt

You will also half your ability to service for other loans, since on a joint loan, you own half the property but all the responsibility to repay the loan (the bank will expect you to stump up the loan repayments in full if your partner doesn’t pay their half).

When you say you are looking for a partner who has experience buying and…[Read more]

Ballarat Property Group.

Hi mddedf

Nope it is most certainly NOT true. Never heard of such a thing.

Your borrowing capacity is influenced by your ability to repay debt. This is evaluated by income streams (your salary job, rental income from other properties, likely rent from the new property purchase, etc).

You might compare a unit and a house and the house has a…[Read more]

Try not to be snobby about areas that have proximity to the city. They polish up as suburbs closer in or on the other side of town get too expensive. By way of example, I can recall a time when I didn’t even want to be on a train that passed through Richmond, let alone get off the train there. It was a seedy seedy place. And now the entry…[Read more]

Hi Newbie

RPData can be deceptive since a lot of agents do not disclose their sale/rent prices they have achieved. So the results are skewed.

Grab yourself a copy of the Australian Property Investor magazine and sift through the statistical pages.

Apologies didn’t see this message. Shoot me a PM if you haven’t got a solicitor as yet and I’ll give you some suggestions.