Best to give ACTPLA a call. I recall 800m2 being a magic number – but I think the block would have to be within a certain proximity to local ameneties (shops, etc). CheersJamie

Hi 0to130

Welcome to the forum.

Sorry to hear about your experience.

If you’ve decided to invest in property, I’d spend the next few months getting clued up about it. Read widely – there’s some good books by Margaret Lomas, Michael Yardney, Steve McKnight, Jan Somers (to name a few). There’s also a couple of national magazines – Your Investment…[Read more]

No worries, all the best with it. Let us know how you go.

Cheers

Jamie

shel25 wrote:
I will be trying out a few different lenders and mortgage brokers and see how we go.

Hi Shel

When shopping around, you need to be careful about inquiries being logged against your credit file. Too much activity on the credit file could jeopardise your chances of getting the finance. I’ve seen it before – someone pops into a few…[Read more]

Hi Move It (very appropriate name)

I feel your pain – it’s VERY frustrating! My only advice is to follow the processes, document everything and hopefully you’ll move into your new home soon.

Best of luck – it is annoying.

Jamie

Great! Thanks for sharing Andrew.

Cheers

Jamie

Qlds007 wrote:
Hi BecHate to say you wont get a lodoc loan being PAYG and secondly making a false income declaration is mortgage fraud and certainly not recommended.Like anything if you cant get the deal over the line then there is probably a reason for it.CheersYours in Finance 

Totally agree. Besides, you wouldn’t want to risk putting…[Read more]

Hi Engelo

Yep – you have it revalued by the lender, explaining to them that you’ve carried out renovations.

Some lenders will allow you to “top-up” your loan to 90% of the properties value.

If the property is worth $200k – you could possibly top-up the loan to $180k, which gives you around $50k to play with.

I would encourage you to set up the…[Read more]

Yep, I was talking about while it was controlled by DHA. If it weren’t, than I’m with you – I don’t know why it would be considered to be of lesser value compared to a similar property.

Cheers

Jamie

A client of mine just picked up a 2 bedroom unit in Logan for $170k – renting for $250 p.w. It looks like he’s also added some equity through some quick renos.

Cheers

Jamie

nguli wrote:
I struggle to see how it would be different if you bought the same house just not on DHA or any other new new house? !

It could come down to the future demand. If the property is being tenanted as a DHA property than it may not be as attractive a purchase for the next buyer – which could impact on the end value.

At the same time…[Read more]

Hi Rachel

That’s good news and good on you for fronting up to the PM. I hope it all works out.

Cheers

Jamie

I’ve had three depreciation schedules carried out via non-inspection. I supplied the images and a description. I’m happy with them – and the amount that I’m depreciating is similar to other schedules I’ve seen for similar properties.

Cheers

Jamie

Hi Shel

You could speak with another lender for a second opinion. Different lenders have different ways of calculating borrowing capacity – some are more generous than others.

However, all would base your borrowing capacity on hubbys income alone if he’s the only one working. Unfortunately, while your cash savings are impressive, the bank will…[Read more]

For a short-term deposit bond you generally need to provide proof that your finances have been approved.

Whichever way you decide to fund the deposit, you should get your finances pre-approved before going to auction.

Cheers

Jamie

Hi Magic

Yep – you would be going off a pre-approval. Definitely make sure you get one done. A week or two after the auction for approval sounds about right. Auctions come with greater risks – but can also yield greater rewards.

Cheers

Jamie

It does take more effort but it opens up your opportunities to hundreds of different markets across the country.

Cheers

Jamie

dank78 wrote:
Hi guysJust a quick update Couple weeks ago, we have put down a deposit for a piece of land in new Bonner estate. (610sqm); just outside of GungahlinWont be ready to build on until Jan / Feb 2010.Have been looking at some designs and we will be set for FHOGHoping to buy a second property within a years time but not sure about it…[Read more]

Agree with IP.

If you haven’t already engaged an REA and are having troubles selling the property – perhaps it’s best to give one a go. Whilst we’d all love to avoid forking out for an REA’s commission, they’re often able to sell for a higher price than can be achieved when selling yourself.

There’s no harm in having a chat with a local REA – if…[Read more]

Hi again Matt

Have you considered branching out from WA? It’s amazing the amount of due diligence you can carry out on an area that’s on the other side of the country. There’s also the option of a buyers agent if you’d prefer not to carry out most of the hard yards on your own.

Best of luck with whichever path you go down.

Cheers

Jamie