I'm gonna have to say it.  What the heck is an "Investing Adherant"?  Wierd level names…

Whatever you do choose a light colour (white…) as already suggested.  I remember on The Block 2011, when Josh and Jenna first did their living room, it had a panel wall, and they painted it dark blue.  The room looked like a university student share house.  Not good.  They re-did it i white (in fact I think they gyprocked the wall…. whatever,…[Read more]

While the question of what to buy and where is definitely relevant, the matter of precisely what is done with the $130k, and precisely how you utilise the property you already have to leverage into the next one…. that's critical.  Talk to a good broker to sort this out.  On this forum there is Richard Taylor (userid Qlds007) and Jamie M.  They…[Read more]

I think you've answered your own question already.  You know that the tenant base in Bacchus Marsh demands houses, so why would you be considering an apartment?

Hi rickim, I suggest getting in touch with Richard directly and asking him to arrange the finance for you.  The banks pay the brokers their fees, not you the client.  So if the fee worries you, put that out of your head.  It is sooo much easier having a broker arrange the finance.  They know which lenders to go to for your circumstance and the…[Read more]

Count me in!

Oh wow!  I knew this day would come.  I am number 1 at something.  Woo hoo!  And I just earned another point by saying so ehhehehehe

rickim wrote:
how come the number of units on the title has such an impact on financing?

Here are some reasons I am aware of:

Generally tenants prefer to live in unit blocks that contain fewer units.  More units equals more noise and other such conflicts between tenants.  This all leads to the fact that all other things being equal…[Read more]

I know nothing about Griffith but I do know unit blocks.  Be aware of the following and factor into your holding costs:

– More than four units means Commercial finance, not Residential. And this means a higher interest rate.
– Not all lenders will finance unit blocks of this size, so you'll need to do your homework on who does and what the…[Read more]

Yeah my reply was based on the understanding that ILIKE needed income, as opposed to being in the stage of gathering assets

If you bought a house that yields at least 6.2% and borrowed any of the extra money you need to cover off the last portion of the property price does not cover, and your stamp duty and legal fees, you would end up with a surplus rent (after holding costs) of more than $850 per month.  An example is to get a house in Corio VIC.  A house priced…[Read more]

I would be thrilled to bits.  Either way the value of your place will go up, and if your place didn't get rezoned, it's just a matter of time.  Then your place will be worth even more.

I'm going to ask the bleeding obvious:

1. Why can you not have a part time job of some kind to cover your living expenses during this time of re-training?

2. Why do you need $1500 a week?  An individual can live on wayyyyyyy less than that.  I assume you have a partner and children  you are supporting?  If so, why can the partner not get a job…[Read more]

Put it all on black!

Wow I'll watch this thread with great enthusiasm!

I haven't heard any such thing.  I remember reading some nonsense speculation in a mainstream newspaper that went something like this:  Hey, maybe the government will scrap stamp duty…. but then there would be a need to put land tax on all properties.  Same same.  Tax is tax is tax. 

Wow you are getting ripped off.  My SMSF has one house and my SMSF tax return including audit was $660.  This was with very clear record keeping being provided to the accountant so he didn't have to guess what on earth each of the transactions in the SMSF bank account were.

In Corio, house.  I have units elsewhere in Geelong.  But for Corio the most appropriate thing to go for is a house. 

It depends on your objectives.  If you intend to keep both properties for the long haul, probably best to stay in the cheaper property, pull the equity to buy the $500k place and put tenants in that.  That way, more mortgage interest will be tax deductible because the purpose of the borrowings will be for investment.  If you move into the $500k,…[Read more]

I am in Vic, i allow cats in unreno'd property, tenants has to sign a separate pet agreement saying they are liable if the pet does any damage. You cannot claim pet damage on your insurance so charging extra would be wise. I'd say $20 per week for a dog, but in the ad just say "pets negotiable" or tenants might lie about having a pet and then one…[Read more]