evernat wrote:
Hi guysThe main reason I will not go near places like that is because of the stigma yes, and I have seen Ireland and England when things go bad that they drop really really fast. I take my hat off the you guys investing there and doing well but I just would not feel comfortable with it.

Hi EvernatI know where you're coming from…[Read more]

Hi TrippsyWelcome to the forum. I wouldn't say it was a dumb idea – nothing wrong with thinking outside the square a little.However, one of of the most attractive things about property investing is being able to leverage – ie. using a small amount of money to purchase something of much greater value that hopefully appreciates over time.Instead of…[Read more]

Terryw wrote:
But if you have the option why not split it up into several sub accounts in case you wish to use one for private expenses later?

Agree, if your LOC allows for multiple splits than you should take advantage of it.

Catalyst wrote:
Same Jamie- why Queanbeyan?

It grows at the same rate as Canberra – which is still considered a rising market. It also shares the same low vacancy rates as Canberra. The rental yields that you can achieve with the units is often quite good – particularly the older stock that can be tarted up quite cheaply for instant equit…[Read more]

Check out the council website (you'll have to google it). Some of the ABS data is helpful as well.

Depending on the lender you could always request a valuation be carried out to access some equity. Tell them that you've recently renovated the property.

Allhomes (which is a Canberra based website) recently began listing Tasmanian properties for sale and rent – you might find this helpful http://www.allhomes.com.au/ah/tas/rent-residential

Two bedroom unit in Queanbeyan NSW – something for around the $220k mark that can do with some basic renos – probably new paint, flooring and possibly an updated kitchen.

Catalyst wrote:
He's got a book coming out soon. Can't wait to read it.

Same, should be a good read.

I've got policies with ING and Real Insurance – both allow me to self manage and both are competively priced.

No dwelling on the land could be the reason? I had a rural/residential deal on a 40 acre block a couple of months back and CBA were keen to ensure a dwelling was on the block.

Interesting 4 page spread in this months API mag on Queanbeyan for anyone that's interested.CheersJamie

It's definitely possible but being self employed can be a pain in the bum when it comes to applying for finance. In short, it can be harder to get a full-doc loan across the loan for a self-employed customer compared to a PAYG earner. Therefore, unless your financials are in good shape over a couple of years (one year will suffice with some lende…[Read more]

Qlds007 wrote:
Take no notice of any one who says it cant be done, or you are to young.

Agree with Richard – I always liked the quote "If you're good enough, you're old enough."

Queanbeyan…..not quite regional given its proximity to Canberra but the unit prices are still reasonably affordable and the rental yield is quite good also.

Hi AjayI haven't been actively searching CF+ properties in NSW lately but I know Wagga has some decent yields – there's a few suburbs (Ashmont, Tolland, ect) that have ex housing commission properties that are auctioned off by LJ Hooker. The purchase price is relatively cheap (anywhere from $100k – $150k) and after some work they can achieve up to…[Read more]

Trust Magic is a good book for explaining trust structures.Ed Chan has a good book on SMSFs.

Hi DreamerThe guys above have given some great advice.I'll also add one thing. It's important to not lose crediblity with the agent you're dealing with. From my experience, the quickest way to lose it is by placing a ridiculously low-ball offer. Not always, but most of the time they'll just view you as a tyre kicker. That said, I'd never offer as…[Read more]

Dan's right in regards to the tenants in common. As for who's name it should be in. In general terms (and I'm not an accountant) if the IP is CF+ then it's best for the majority to be owned by the low income earner. If the property is CF- then it's best to have the majority owned by the high income earner (because it will reduce their taxable inc…[Read more]

Hi JoeIt might be easier trying to get in with one of the smaller agencies as opposed to one of the larger franchises. I'd try calling some of the smaller players and seeing what they can offer you.CheersJamie