Croc,

Generally, you will only have access to “unlimited finance” if you are also working as a wage-earner. The banks will tell you that you are too “rent-reliant” if you rely solely on rental yields to repay increasingly heftier mortgages. don’t give up your day job yet!

kay henry

hissho,

Get a mortgage broker to come to your home to work out how much you’re entitled to loan.

Also, go to the hundreds of “how much can i loan” mortgage calculators online.

You should be able to finance or refinance if you have equity, a job, and/or a deposit if it’s your first IP and you have no other property.

kay henry

Well Pisces, one shouldn’t be “blaming” anyone for one’s own property/investment decisions. It’s a matter of taking personal responsibility- not blaming others.

kay henry

I bought my last two properties sight unseen. Just saw one of them for the first time over the holidays actually- very pleased with it. I’ve seen the other one too, and am similarly happy.

If you work full-time and you see a bargain, are you going to pass it by because you can’t actually view it? Many people just go into a place and glance around…[Read more]

I believe that this topic should be transferred to the “Opinionated!” forum, as it contains a number of opinions, and does not engage in the nuts and bolts of how to wrap, as per policy.

kay henry

“The socialist leaning ABC?” That’s too funny, Bruce :o))

As to my hit predictions… regional/country areas of property will continue to be the cheapest in Australia, but the most affordable for those of us with not much capital- but they will be the most risky with interest rate rises, less spending, and possible industry declines- same old…[Read more]

peterhen,

I agree with you- something is better than nothing. Don’t forget- you don’t only get returns from rent- use the depreciation allowances for properties built post 1985-1987 etc. Rent only needsd to be a part of your return- use the tax system to make up the shortfall of negative gearing :o)

kay henry

Fatboy,

Did you see the article in one of today’s sunday newspapers? It was about the Top 100 suburbs in terms of cap growth in nsw. The right-hand column had predicted cap growth rises for 2004. Seems that the source (propertyvalue.com.au, I think- haven’t got the newspaper on me now) doesn’t seem to believe it’s all over yet. Growth is still…[Read more]

Cel,

There’s an OTEN Valuer’s Course, I think. It has degree status, and, if I recall, is linked to one of the Uni’s- perhaps Monash.

jmandrew, if you were referring to going to a real estate seminar, I agree with redwing- read as much as you can all over the net- including here- and only go to free workshops etc.

Why go to seminars promoting…[Read more]

Peter,

I understand where you’re coming from in your perspectives regarding the way I do things. But I am aware of what IU’m doing and I make my choices- just like all of you make yours. I don;t feel I was “hooked like a fish”. In fact, I had done an incredible amount of research for months on properties in the exact location and I am completely…[Read more]

Nathan,

I’m off to Wollongong today actually, to sign a mortgage contract for a place I bought in Qld. f you’d like to catch up one day for a coffee or something (I ain’t no mentor, but I’m a bit in love with real estate and I do love coffee!) please feel free to contact me on handbaggy@hotmail.com

Happy Christmas!

kay henry

toystory,

Offering a reasonable price- perhaps 7% lower than the asking price, is very fair. Think of buying a place as similar to selling. When you sell, you want the buyer to give you a fair price. Well, we are the same person whether we buy or sell, so we can use the same principles. Noone wants to be ripped off.

Buying houses is a business…[Read more]

Bruce,

If I had the money, I would buy properties even if there was negative growth! Tenants help pay off my properties, which means basically I’m not paying anything at all much. Well, the taxman helps too )

Property is and always will be a good investment.

kay henry

JB,

42 properties is a lot of property! do you ever get told you’re too “rent reliant” by financial providers? i always think i’d have to earn a million bucks to be able to own that amount of property.

kay henry

Melanie, you are such a softy :o) good to see a few “wets” in the property industry. Happy Xmas to you also

kay henry

Yes, watchdogs and whistleblowers aren’t particularly popular people during the time they’re trying to expose dodgy stuff. it’s only after the guru has fallen that they get the credit. I’m thinking about those nurses who explored the snuff culture at a major hospital recently.

frankly, i am not sure any person’s *life* should be up for public…[Read more]

Peter and Mel,

That’s a fairly dangerous spte though, don’t you think? It’s basically similar to buying OTP- with the hope of onselling. If the Bears is unable to flip it, he gets stuck with a property he thought was good for someone else, but not necessarily for him. Otherwise he wouldn’t be spotting for others, if he could afford it for…[Read more]

I said:

“the eternal optimist usually”… well, that doesn’t quite make sense- he is either “eternally” an optimist or “usually” an optimist- he can’t be both! hehe. But y’all knew what I meant

kay henry

lazyboy,

Do you think there are many places for 60K that rent at 150pw these days? Actually, the 15% yield would be more like $180 a week. Seems a bit far fetched to be able to reach this new rule.

What happens if interest rates reach 15%? Will we be having the 30% rule? ie a 100k house that rents at $600 a week? Seems like a lot of improvements…[Read more]

sis,

Given that you now have a property portfolio of about a million and a half bucks, have 11-13 IP’s, are 21, have been investing for a total of 9 months, and have only part-time work, I am sure that Australian Property Investment Magazine would love to profile you. They are always looking for successful investors.

kay henry