The RESULTS group is a mentoring program run by Steve and Dave. The program goes for 12 months and provides a wealth of resources (written, audio, video), plus meetings every couple of months, plus a mentor or coach that you can get help and support from. The second program has just started but is full. I’m not sure if Steve has a waiting list…[Read more]

Hi Ron

I’m envious of your age – I wish I’d started investing that young!

Have you thought about student accommodation? There are people out there who are leasing 3-4 bed houses near universities and then sub-letting them by the room. Positive cash flow without having to actually buy the property. The only risk is having the property empty.…[Read more]

Hi Dominico

A good place to start is with the local Council. They’ll have info on planned infrastructure development, building approvals etc.

You can also try the Australian Bureau of Statistics for demographic data on the area you’re looking at (eg how many renters, average age etc).

You may get some info also from the relevant states Real…[Read more]

Low doc loans usually require that you have an ABN number. Some lenders require you to have had this for a minimum of 2 years. As Terry has said, the alternative is a no-doc loan, which doesn’t require an income declaration or an ABN.

Having said that, I recently got a low doc loan from Westpac and they only required that I sign a declaration…[Read more]

This is why Steve and Dave advocate using cash to fund deposits and costs rather than use equity loans. Which is all fine and dandy if you have cash.

I currently rely on equity loans to finance deposits and costs for new purchases, but am also looking at ways to pay down these debts. Ideally, you sell property and put the profits toward paying…[Read more]

Hi Ananda

Try talking to Paul Dobson. He is a regular contributor to the forum and has a lot of experience with vendor finance.

Good luck.

Janet

I thought that vendor financing in SA was illegal??? Can’t remember where I read that, but it was only recently.

Hi Paul – it has crossed my mind that perhaps using a wrap might be able to turn the situation around. Being a new investor, I need to gain a much deeper education as to how vendor finance works and to figure out whether it would work in this situation.

Can I email you privately to run through it with you and get some help in working out whether…[Read more]

Hi Ellis1. Thanks for the reply. I’ll be able to pay the bank loan out as I’ve got another property on the market which I’ll make a very substantial CG on. If the dud sells first, I can transfer the balance of the loan to be secured by the other property, so will be able to get the Title Deed released. The 2 properties are cross collateralised…[Read more]

Hi Simon
In answer to your question, I would not buy the property at today’s price as it would still be negatively geared, and yes, I would think it is a dog!

Hi DLPP – thanks for the reply. The reason for the big loss is that I bought at the peak of the market in 2002, financing 100% + costs, and prices have dropped since. Really dumb investment decision, but I’ve learnt a lot since then.

Question – what’s a Moderator and what’s a sticky?[wacko]

I’m looking at Community Titling a block of units I’ve just bought. I’ll be talking to a surveyor shortly so will be able to fill in more detail, but what I know at the moment is that Community Title is a bit like Torrens (although some common property) in that the units can then be sold individually. I think you can only do it where the units…[Read more]

For those of you who are trying to reduce debt so that you can invest, there’s a great website that I use to help save money on just about everything. It’s called simplesavings.com.au. There’s some free stuff there, but to get all the tips you need to subscribe. I think there’s a special at the moment of $35 to join and 1 year subscription.…[Read more]

I’m glad I’m not the only one waiting for the next instalment of Virtual Kick Start. I was starting to wonder whether there was something wrong with my email!

Come on Steve – we want more![whistle]