I had to hunt around to bit for a pic of you Jamie to see what they're talking about…. but yes, absolutely, you are a star!

Depends on your target market, and whether you plan to sell or rent the property.  For instance, if it is a rental targeting lower income tenants or students, you could just as easily get a wardrobe from St Vinnys and put it in the room.  It stores clothes.  Tick.  Tenant happy.  If however you are talking a tenant that is forking out more for the…[Read more]

Hi Sunny

Where are you located?  (Where do you live?)  Perhaps we can point you in the direction of some local meetings (no cost) of local property investors.  It would be really good for you to talk to lots of people and hear about what they are investing in, and why.  This would help educate you, and start to make you more confident in how to…[Read more]

Hi there

Definitely interest only loan with offset, yes.  Each year you put the rent up and at some point the rent covers all the costs and mortgage and there is a surplus.  At this point you could opt to use that surplus money to supplement your own cost of living, or to start paying off the principal of the IPs.  Why bother paying off the…[Read more]

jmsrachel wrote:
I haven't seen much granny flats being built in Victoria. Is there a reason behind this or just one of those things?

It's because the councils in VIC are not so speedy on approving such things as they are in NSW. 

I am not 100% sure but I think I heard somewhere that a granny flat in VIC can only be for housing a dependant…[Read more]

As ruapehu has pointed out above, maybe you are not as out of pocket as you thought? 

The only thing that springs to mind to ask is: what interest rate are you on?  It doesn't make sense to me that you are as out of pocket as you've mentioned unless  you are on a massive interest rate, or pay enormous body corporate fees.  Could you perhaps…[Read more]

Thanks for touching base with us to let us know how it panned out Jenny   Good result.  It did seem odd the utility company was trying to bully her into paying an account held in someone else's name.

WomeninPropMelb wrote:
Great idea DWolf…
I like where I am but thats me. There is sooo much infrastructure going up here- hospital, railway stations, shops, new town hub. Prices are low – low socio economic- first home buyers entry point and lots and lots of infrastructure being built! My family has been here for 5 generations and the suburbs…[Read more]

1) Legal ownership takes place at settlement, but obligation takes place after the cooling period is over and all special conditions (such as finance) are satisfied.

2) In VIC, stamp duty is payable at settlement.

3) If you put "Joe Bloggs and/or nominee" as the buyer on the contract of sale, you don't have to worry about the precise name or…[Read more]

I am unsure why you feel you would be better to look interstate because you are from Melbourne.  You would be best to look at property that will offer you the best growth and/or yield.  If that is in VIC, good.  If it is interstate, good.  Follow the numbers.

I am also unclear why you feel you need to use a buyers advocate.  They certainly have…[Read more]

Spoiled for choice hey!

Sometimes one property can mix multiple strategies (such as reno and also subdivision).  Sometimes just one strategy.  You can't necessarily use all strategies in every deal.  No need to get upset because this is so.

Much of the current sentiment is to go for positive cashflow.  Why hope for capital growth with a…[Read more]

I believe that learning to save is an important stepping stone towards becoming an investor, but saving should absolutely not be a person's life investment plan in its own right.

Further, it is a fact that it is necessary to be able to DEMONSTRATE that you can save to lenders when wishing to secure finance on a property you wish to buy. 

I work in the banking industry and I am never asked to produce evidence that I attended uni.  Actually that is a lie… I was asked once and I laughed and said I had no clue where that piece of paper was now, with all its irrelevance so many years down the track.  While I did indeed go to uni, I did not study subjects directly related to my…[Read more]

You need to evaluate what things you believe will drive price growth in the two respective areas.  For example, when a new road is built in a town, it makes it easier for the residents to commute in and out of the town, and may make it faster to commute to work in the city.  Thus the desirability factor of the town can increase. You also want to…[Read more]

House.  Gives you more options.  And for the person living in it, you hear less of what the neighbours are up to, which is good

Welcome, and good on you for taking control of your future!

Remember that once you render, you'll have to commit to painting on a regular basis to keep the place looking tidy.  For this reason, I opt not to render my buy and holds.  I'd happily do it for something I was going to sell.

I am investing in Geelong (suburbs of Geelong – not Geelong CBD) because it offers me the trifecta.  Capital Growth, Good yields, and low vacancy rates.

Hi there,

What did you intend to do with the block?  Have you had a chat to council and a local draftsperson about whether your plans would be possible?  Have you had a chat to some builders to understand how much your construction would cost?  And a mortgage broker to understand if you could get finance for such a construction and at what…[Read more]

Not everyone is eligible to buy and not everyone wants to buy. Plenty of people happy sponging off the unemployment benefits and rental assistance money on offer out there