Hi StreakerWelcome back.It will largely come down to the amount of rent the new IP will attract and where interest rates are sitting next year when you intend to purchase the next IP.CheersJamie

KevinTurner wrote:
1) Eat out less and cut back on takeaway food 2) Cut back on general day to day spending 3) Miss out on a holiday 4) Cut back on alcohol related spending 5) Delay a vehicle purchase 6) Change jobs for higher income 7) Take on an additional job Delay having children 9) Rent out one or more rooms in my home 10) Purchase a…[Read more]

Geeze Engelo – a thread titled "do not read" is up to 700+ views.CheersJamie

WomeninPropMelb wrote:
Hi Jamie et al, What??!! You picked up a flat white kitchen for ONLY $4.50? Good on you!! 

Not quite – it's a flat white "coffee"CheersJamie

Hi GarrenceWelcome to the forum.Richard Taylor (QLD007) recommended someone recently. If you do a search it should hopefully pop up.CheersJamie

JackFlash wrote:
So I take it your expert advice is to buy into a falling market.

No Jack – I would much prefer to buy into a market that's reached it's peak.Move on Jack – it's getting old.There's nothing wrong with having a different viewpoint – but I think you'd agree that the way you go about it is wrong.CheersJamie

JacM wrote:
You're going to need a tent.  Perhaps from KMart.  That's the way forward.  Everyone can live permanently in tents hehe.

I've got a big backyard – I'll only charge $10 per tent CheersJamie

GetRichOrDieTrying wrote:
Hi Jamie can you tell me why is it better to pay off the PPOR first instead of investment because I seems to be getting a different advice from my accountant which suggest that I pay more into the investment as it can be negative geared and better for my tax.Please explain.  Thank you.

As Derek said above:Interest on…[Read more]

JackFlash wrote:
https://www.propertyinvesting.com/weekly-update/31-08-2011 Year on year fall in Melbourne is -5.0% I would be seriously considering cashing out of any property for the time being not buying more. Jack

Cheers Jack.You've heard it first hand people. Time to sell up – Jack has spoken….for the 12th time.It's getting old -…[Read more]

Hi HenryThere's an example on our blog – http://www.passgo.com.au/blog/25-the-project/67-how-to-use-the-equity-in-your-home-to-purchase-an-investment-propertyCheersJamie

Terryw wrote:
Henry, what is a "semi fire-walling method"?

Good question. Is this in one of Steve's books?Do you just mean setting up a second loan against a property which is used as  the deposit/purchasing costs on another – and then you source the remaining funds for the second property from the same bank or another? This is what we do to…[Read more]

veseli wrote:
Wombat clearly stated that his property is 300k, so giving him poor advices will send him bankrupt very soon.

Hi VeseliWith all due respect – that comment just makes no sense. In a previous post you said "Buy cheapest house in the best area, and spend at least 50k and you will make 100k back."I think if any comments are going to…[Read more]

Nathan Birch wrote:
Other way is to get a bunnings catalouge and anywhere around a bunnings store, because most are new,a nd they have had lost of $$$ spent on research to make sure its fiasible to open up..

I like it – and it makes sense. Reminds me a little of the coffee test I remember reading about a few years back. I think it might have…[Read more]

I agree with Michael – the question comes down to your own individual risk profile and what you're comfortable with.I can understand the motive behind wanting to pay off both debt as soon as possible – but you really should consider paying off your PPOR before reducing the debt on your investments. This will save you money.CheersJamie

engelo10 wrote:
Hi Jackflash, I appreciate your response but have to apologise for not being educated enough to understand your philosophy.

Don't apologise Engelo – there will always be people like that out there.Keep it up mate – sounds like you're on your way.CheersJamie

veseli wrote:
Wombat you are right, good kitchen with stone and appliances will cost you 12k. If you start using flat pack kitchens, and painting yourself even though you never did it before, you are wasting your time and money.

Depends on the value and location of the property. There are certain properties where an affordable flat-pack will…[Read more]

sha2011 wrote:
@jamie: if  I buy as IP and after 3 years I move to my IP without claiming PPOR. Later (say 2yrs) I buy the property, can I claim FOG (if FOG available on that time)?

If you haven't purchased or lived in a property that was your PPOR during this time, then I can't see why not.CheersJamie

Shape wrote:
Con: 1. Damage to the home is likely 

This has been my experience. We recently rented out a property to a young couple. During the first inspection, it became apparent that there were quite a few 'students' living in the property. Within one month of signing the lease – the place was…..well, not in the condition it was rented…[Read more]

henry13auckland wrote:
HThe property they buy for you will archieve good capital gain in the middle or long term.

If they can guarantee this then it sounds like a good deal. Unfortunately they can't.I'm not sure what the going rate is for a BA in Melbourne but I'd make a few more inquiries before signing up.Hopefully someone on the forum can…[Read more]

Catalyst wrote:
Cash flow IS king but without Cg you won't go anywhere in a hurry. How much CF are you talking? I like cash flow too but wouldn't buy in a town where I don't think there will be CG.

I was thinking the same thing. Unless the CF is through the roof – you really need CG (whether it be manufacture via improvements or over-time) to…[Read more]