I intended to say “You really shout NOT have entered into a purchase or a construction without a solicitor going into bat for you.”

Hi Mandy

Sorry to hear about your trouble!

Just a couple of observations:

– The suburb is noted incorrectly on the listing.

– There is no picture of the garage. While it is mentioned in the text, a picture tells a thousand words, and people like to see where the car is parked in relation to the front door. It is always a good idea to have a…[Read more]

Hi Amie

$13k probably won’t quite be enough to acquire a property, but it’s a cracking start. Great job for saving such an amount by such a young age !

As to what career will inspire you is a question for you. None of us have any idea if nursing is the job for you.

In order to fund some property purchases you will indeed need a job, which may…[Read more]

Hi Amie

$13k probably won’t quite be enough to acquire a property, but it’s a cracking start.

As to what career will inspire you is a question for you. None of us have any idea if nursing is the job for you.

In order to fund some property purchases you will indeed need a job, which may or may not require tertiary education.

The thing that…[Read more]

For that sort of yield you could be in a sturdy brick property in the suburbs of Melbourne.

I definitely do not disagree with the concept of investing in regional centres, but I expect the yield to be higher than the suburbs of Melbourne, especially where weatherboard residences are involved. Weatherboards cost money to maintain and I expect…[Read more]

Hi Newbie

Rather than focus on what suburb to buy in, it is far easier to identify the “annual income stream” goal, and work out what sort of rental yield properties would match that. And only then go looking for the suburbs that fit your criteria.

Hi Lee

Answers as follows

Not necessarily. You cannot save your way to glory. You have equity that can be used to get you into another asset that produces income and capital growth. That is a model that out-paces your ability to save.

True. It is not the most tax-efficient method of accessing equity. Redraw is very different to…[Read more]

Hi JJ

You really should have entered into a purchase or a construction without a solicitor going into bat for you. First thing tomorrow morning, get yourself a solicitor that is solid in the field of representing clients that are engaged in construction projects.

I agree with the sentiment on Point Cook. I would not touch it either. Oversupply of same same stuff and insufficient infrastructure to get people to and from work (single lane road gridlock traffic to bash your way towards the nearest freeway or train station).

I also agree you should not necessarily be forcing yourself to choose between Point…[Read more]

Hi mddedf

Wow sounds like you’ve had some bad luck.

Among the reasons why the brokers you spoke to didn’t get back to you, reasons could be:

They are insanely busy and cannot keep up with demand; or
They did not realise you had further questions beyond your initial enquiry; or
They did extensive research on your behalf and then got the…[Read more]

The interesting thing about these sorts of super funds where the employer makes extra contributions is… the only rule that seems to apply is that your member contributions have to land in that fund. What happens thereafter is up to you. We have a lot of clients with a similar situation. They let their contributions land in the fund in…[Read more]

Hi ccbz

It really depends on the end goal. If you define where you’re trying to get to, it is far easier to determine whether assets you are considering will take you closer to that goal. Residential real estate is one example of an investment vehicle that people choose to move them towards their goal. Other examples are things like…[Read more]

Hi ccbz

It really depends on the end goal. If you define where you’re trying to get to, it is far easier to determine whether assets you are considering will take you closer to that goal.

The “goal” is not “to collect properties”. The “goal” is a passive income goal by a certain point in time. For instance, to assemble a portfolio which…[Read more]

Hi Bnk

There are some areas to absolutely avoid in QLD at the moment, however there are also some absolutely fantastic pockets offering some cracking buys. We’ve secured some beauties for clients lately.

The newly-constructed dwelling may have GST applicable if sold. For this reason people often choose to live in the newly-constructed dwelling and sell the other one. Check with your accountant re GST and CGT implications in this regard.

Hi Garth

If you intend to buy an investment property and THEN do your subdivision/construction, first check with your broker that the lenders would actually fund both of these exercises.

You will find that GST will apply to the newly-constructed property. For this reason, people who do a build in the backyard of their home often opt to move…[Read more]

Kikoeru

Sounds like your conveyancer messed up. They are supposed to pay outstanding council rates and water rates to the council and water board, and any money left over from the sale then goes to the vendor.

Chase your conveyancer for compensation and if they don’t cough up, speak to the relevant ombudsman or small claims tribunal.

How much do you current have in super between the two of you?

It depends on the answers to the following two high-level questions;

– Is there an immediate requirement to increase your cashflow?; and
– What is the end goal? (Defined in terms of annual passive income stream by a certain point in time).

It would be important to understand the current balance in super and what this will equate to upon…[Read more]

$40k won’t be quite enough to do much, however we have some lender options we could look at for you without having to wait the full 2 years. Perhaps wait till you’ve got $50k saved and feel free to give me a shout to kick off the conversation :)