Be prepared to manufacture a bit of growth and more properties might then comply with the 11 second solution.  Some examples are:- Acquiring a house that has a massive room that you can put a dividing wall in, thus "adding a bedroom" to the house- Subdividing the backyard and selling it off to reduce the debt on the house- A quick cosmetic r…[Read more]

… or convert lounge to master bedroom, leave existing bathroom as is, and convert part of the dining room into an ensuite.  Knock out interior walls of family rooms to make a big large space.

I would covert the LOUNGE into a master bedroom, and make the current bathroom an ensuite by cutting out some of the wall to make a door – a sliding door if need be – and closing off the original bathroom doorway, converting it to plaster wall.  I would then remove all the internal walls of the respective Family rooms to make one monster size f…[Read more]

ChristopherLee wrote:
I think the majority of people in that suburb have a car as there is nothing within walking distance

Hmm that could mean that if you bought the place, your prospective tenants would be people without cars which could largely be students and the unemployed.  Not ideal.

What the guys are generally referring to is that they are using interest only loans, and putting any extra cash into offset accounts to reduce the interest payable. 

Fabulous thanks Trent! Anyone know of a builder in VIC (Melbourne thru Geelong) ?

wobblysquare wrote:
Can anyone advise the purpose of a final inspection. Usually done within the last 24 hours prior to inspection? If i was to inspect a house that had burnt to the ground (r flooded) before settlement could i not say that it was substantially NOT the same as the house i agreed to buy!! Could i then on this basis (final…[Read more]

I am in VIC.  You absolutely need it.  Imagine if the current owner hasn't bothered to insure the property, and it burns down after you've paid a big deposit but before settlement.  Your solicitor will confirm that you absolutely need it.  It's a small price to pay compared to the massive loss you'd be facing if something went wrong.

anyone?

This development plan of yours is the driver – the reason you are attempting to buy this apartment.  However.  Have you run the numbers on such a development?  Would it even make money?  If not, your motivation to buy this apartment might well disappear.I'm not sure that re-developing already strata-d units would have enough margin in it.  Anyo…[Read more]

Any "subject to" stuff has to be negotiated with the agent before the auction, and you need it in writing.  That said, good luck, it's not common. If you are serious about the property, you are best to get a building and pest inspection done before the auction, and to speak to your bank and make very very sure that they will finance the purchase…[Read more]

Positive gearing, positive cashflow…. If the property is actually putting money in your pocket each week rather than taking from you (ie negative gearing), be sure there there is capital growth too.  At least 7% per annum.  The statistics in the rear pages of the Australian Property Investor Magazine can show you how various suburbs have p…[Read more]

Get in touch with Richard Taylor (userid Qlds007 on this forum).  He's a broker, as well as investing in property himself.  He's great at looking at the overall plan, and making sure property is bought in the correct name and loan structure for maximum tax benefits.

Where will you live while you are renting it out for 2 years?  Will you rent elsewhere, or live with your parents?  I'd like to point out the matter of capital gains tax.  You will have to pay some if you move tenants in from day one.  However.  If YOU move in on day one, thus establishing the property as your PPOR (primary place of resi…[Read more]

Sounds like you have great serviceability!  Do you have a pile of money ready and waiting for use as a deposit?  If so, what is the size of this pile?  That'll help us understand where you can buy into, and when.

I would also love to know of any unit builders for the Melbourne through to Geelong band.

@AlibabaWoo – are the block sizes the same?  If not, what are their respective sizes?  And what are the sizes of the backyards?  Are the yards regular rectangle shapes or weird unusable triangle shapes?  How wide are the driveways?  Are there any covenants on the titles preventing subdivision, or building a granny flat in the backyard?  We'd love…[Read more]

Have a read of this…https://www.propertyinvesting.com/forums/property-investing/help-needed/4335307

Are you buying it on an interest only loan with offset account?

Ahhhh… I presumed the block sizes were the same. Are they?