Hi there

We've got a free spreadsheet on our website that's received some good feedback http://passgo.com.au/property-data-websites.html

Cheers

Jamie

Agree with Catalyst.

There's no reason why you couldn't carry our a normal due dilligence process as you would on any other property that you're purchasing.

One of the biggest things to consider when buying at auction is getting your finances in order. You need to be reasonably certain that finance won't be an issue.

Cheers

Jamie

Welcome aboard

Cheers

Jamie

I'm sure every REA in NSW will tell you there an expert at selling properties! 

Cheers

Jamie

I think we managed to get almost everything into a 4 or 5 tonne truck.

Cheers

Jamie

You can get early access if it's agreed to by the vendors.

Ask your solicitor to work it into the contract.

There are some risks with this approach – such as settlement not occurring and you've already commenced work. However, there are obvious benefits as well and I've used this strategy a couple of times and it's worked out great.

Cheers

Jamie

It's the most common approach I come across – particularly for first time investors.

Sometimes you get clients who don't feel comfortable with accessing equity in an unencumbered PPOR – and  I can understand why (there's an emotional factor at play – they have spent years paying down the debt).  However, it's often not a good financial decision because they usually end up using cash for the deposit/costs on their investment which isn't deductible. It can also place them in greater financial risk because they might end up using the majority of their savings and are left with no contingency fund.

Cheers

Jamie

Hi Natalie

I wouldn't stress too much about the pre-approval lapsing. I probably wouldn't bother with getting another one either providing your situation hasn't changed.

Cheers

Jamie

Hi Rusty

Yep – there's no turning back from an auction purchase.

You're right – in the ACT, the building/pest will be made available prior to auction. You'll need to reimburse the seller at settlement.

Cheers

Jamie

Hi Mel

If you do a search on NRAS you'll find a heap of info.

There's nothing wrong with renting and investing.

However, you don't need to sell your home in order to invest.

If you'd prefer to keep your home, you can always access equity in it which will be used to purchase your investment properties.

A major benefit of this approach is that the "borrowed" funds will be tax deductible – this wouldn't be the case if you were to use the cash from the sale of your home towards the deposits on your investment purchases.

If you go down this path, it would be worthwhile using a decent broker/banker to structure your finances correctly.

Cheers

Jamie