O.M.G… what next?

You don't need to put down a 10% deposit, and you don't need a deposit bond unless you have no cash to use. This is just what the agents want you to put down.They do this so they can then access the deposit and get their commission before settlement.Many agents Sale Contracts are drawn up with a 10% deposit as standard written on them; so what? It…[Read more]

Asking around on the various forums will usually turn up someone who can at least start you off.Try Somersoft as well as this one, look in different investment publications such as Australian Property Investor.Once you know where yo are going to live you can narrow it down a lot. You can do a lot via email and fax these days. My accountant is in…[Read more]

daneye wrote:
Thanks to those who have responded so far, I am taking it all onboard. I had failed to mention that we would only be looking at an investment property if we can both find extra cash through weekend work, we do know a little bit about this business as we rented out a house in NZ for 5 years whilst living here and after mortgage,…[Read more]

Welcome to the forum SKYFOX. I'm sure you will learn an awful lot from the guys/gals here.The strategies you mention are what most of us do and more.The things you mention that you are planning to do which are probably a bit "muddy" are;3. I haven't ever heard about a higher rent return increasing the value of a property. Any experienced investor…[Read more]

The Contract date when it becomes unconditional.

If you are going to make a loss why sell – do you need to sell it?Can you move out and turn it into an I.P instead? All the costs are tax deductible, and the renos will provide good on-paper deductions too.In a flat market never sell by auction. The buyers will only bid enough to beat the last bid – not always what they are prepared to spend.Go…[Read more]

Anything with an "R Us" on the end of it you've gotta hate. has anyone started up "CFP Properties R Us" yet?I think I'll register the name now – gotta be a winner.

I think merryc8470 is talking about auctions I guess?The phenomenon he mentioned is classic under-quoting on price by agents. It was made illegal a couple of years ago, but the govt is reluctant to step in and do something serious about it – conflict of interest. sorry; I digress and don't get me started on that topic.The properties he mentions…[Read more]

Thanks Terry.

In this order;1. Your knowledge of property investing and the various strategies, pitfalls etc. Read lots of books, read forums such as this and Somersoft.2. Your knowledge of the property market,3. Start searching for a like-minded mortgage broker and accountant.

I just looked at the website; looks like any other crowd. Could be o.k. Their rates don't seem that fantastic though.It does have a disclaimer on the fees and rates page which excludes fees for early loan payment and redraw etc, so the rate may seem low initially, but could end up being no different to anyone else when these fees are factored in.I…[Read more]

I disagree Simon; they can be both, but of course, there a very few around like that.I have one, and you're one. There's two.

If you are going to find a woman then make sure she is financially literate and not a shopper/consumer .The other version can be very expensive.Or, get yourself organised.

I don't understand Wylie;what is it bait for? Or is it just a thinly veiled ad for business?I tried to look up the website and it wouldn't load.

You can save on stamp duty by buying "off the plan", but I think there is a point during construction where this ends; you may have passed that point if construction has started. Check with the local council on that.A word of caution with developers;The houses are quite often overpriced to begin with so check existing house prices in the immediate…[Read more]

You can make money in Aus any time you want. There are always areas that are about to boom or are booming. You just have to find the areas, and study them to find the bargains, or create one.

You can still claim the trailer on your tax return. Your accountant will probably depreciate it for you.With the house, the depreciation on the building runs out after 40 years, but you can still depreciate the renos. Try another surveyor in the area, or if you can, ask the previous owner if they have any receipts from the renos. These will be…[Read more]

Pretty much all you can do is sell the I.P, put the funds into the new PPoR, then use the equity in the PPoR to buy another I.P.

Here's a question I don't know the answer for;What is a "STICKY"?