Hi Johhny,

Great work to begin with. What’s your end goal? Retire by the age of 40? Have 10 properties by the time you’re 30? What prompted you to buy the units where they are now? Cash flow, capital growth, close to home, know the market?

I too am a goal oriented person and need goals to work towards. What I found works best for me is to have…[Read more]

Hi Rob,

Well done having the discipline in paying the PPoR debt down. As you’re still in 2 minds on what to do with the unit I would stop paying the principal down ASAP and set up an offset account if possible so if it does become an IP you haven’t reduced too much more of your principal.

Benny made some good points above – you can sell your…[Read more]

I found when I was starting out reading the forums was my greatest source of knowledge then putting learnings into practice and learning some more from them. I went to a few of the free seminars but I found them to be biased and pushed their own product or agenda to benefit them and not me.

You’ve got an end goal which is good, but how are you…[Read more]

Wise decision ;)

I have also used Depreciator before too for my place in Melbourne western suburbs and IIRC the gentleman they sent out came from around that area.

There’s always markets within markets with each segment performing a little differently to the other.

Are you looking at a particular area in Victoria or Melbourne?

It can be difficult to get finance on studio apartments if they are less than 50m2 – the LVR would need to be lower so you would need to put it more cash upfront.

The rental yields of 10% may seem attractive on paper but usually the body corp eats into it too much to make it a viable investment. Have you called around to any of these places to…[Read more]

Not sure if I can link to another forum or not (soon find out! Sorry mods if I can’t) but on this thread on somersoft there’s some great spreadsheets for lots of different scenarios.

http://somersoft.com/forums/showthread.php?t=26452&highlight=spreadsheet+collection

Are you looking for someone to find the properties for you, or just churn the numbers? There’s some great spreadsheets on the internet where you can punch in the different figures and it will show the projections for various time periods. Same thing with development feasibility.

Hi Jate

Either option will achieve the same outcome – you’ll be using debt to pay down debt, you’re just moving the securities around.

Say you have a fully drawn $50k LOC secured against your PPOR. You then get a $50k LOC against your IP’s to pay down PPOR LOC – there is still the $50k debit balance, it’s just a different LOC with a different…[Read more]

I can only imagine storage would be the easiest.

I’ve seen concrete water tanks converted to accommodation / man cave’s before and they look good. You would have to check with the council what is and is not allowable.

Looks like it would be a fun project though.

I have also used Darryl who was great for a basic transaction and even better when the basic transaction turned into a messy one.

It’s a tough one. I am a strong believer of good things happen to good people and I conduct myself with that belief. I don’t think the industry will change but while being a player in the industry you can conduct yourself with honesty and integrity just don’t expect it from others. Know your game well enough to know when someone is being less that…[Read more]

1. Yes – answer phone or return calls in a reasonable time frame
2. Don’t care – can’t see myself using the service
3. Not fussed about this either
4. I’m a big believer in you get what you pay for. Happy to pay a little bit extra if the service comes with it. If the fees are ultra low I tend to think what you’re compromising on to make the fees…[Read more]

1. What’s the kW of the air cons?
2. Seems ok
3. What does the landscaping entail?
4. No experience with this – can’t comment
5. Not sure about this one either, but I would assume it would be included in the build prices as they have to have it.

If one of the purchasers is ineligible for the grant that makes both parties ineligible. But if you’re looking for an investment property for him to be co-borrower it’s a bit of a moot point as he wouldn’t get the FHOG for an investment property.

There would be other ways to help your son whilst allowing him to still be eligible for the grant for…[Read more]