Total Members: 149,125

matt_decat

  • Hi all

    Have been living in the Bay Area for the last 12 months and have been curious about investing in US property. Unfortunately we have an empty house back home as we are renovating it so cash flow has been mostly going to that project. Recently my wife just got a significant promotion so now this has reignited my curiosity in the US…[Read more]

  • gday

    I have a rental property at the moment which is positively geared and still have around 250k owing on the property and is a P&I loan. I am currently looking for a PPOR to live in and wondering if its possible to ‘transfer’ equity. As the property is worth around 400k, is it possible to refinance the house for 350k (100k more than what I…[Read more]

  • just purchased a toyota 86, currently has a two year wait.  would be one of the few cars where buying second hand would be more than buying new because people want to jump the queue.  was offered 3k more than what i paid for it when i went to pick it up. the investor in me wanted to sell it right then and there! as long as the high demand with a…[Read more]

  • also, just to add a little more, the cut in stamp duty is rather pointless IMO.  for a purchase of $300k, it is a saving of  $2274 at 20% and $5685 at 50%.  however, you are only entiatled to the state governaments extra $13k if you are building a new dwelling.  generally speaking, most first home buyers wouldnt be able to afford buying a $30…[Read more]

  • John,You can breathe a little easier now the time being.  At the moment the current plan is to continue with the first home owners bonus of $13k.  Of course, on top of that there is the federal governments FHOG of $7k.  therefore after june 30 first home buyers will still be able to get access to this money.  additionally, the government is int…[Read more]

  • because i have no experience in builing in these rural areas, how much would it cost to get someone to buiild me a house (excluding cost of land).  for example, a basic 3-4 bedroom 2 bathroom double story house.

  • Jamie M wrote:
    Hi Matt I don't know why your parents would suggest that. You can get the most depreciation out of a new dwelling. Cheers Jamie

    I don't get it either.  their theory was that it costs too much to get the house assesed. but if it was to cost $500 to get the report done and i was to get a tax refund of $1000, then im up $500.  w…[Read more]

  • JacM wrote:
    Something that is important to remember is that you don't have to invest in the major cities if you don't want to.  It's not the only way to wealth creation.  Don't let anyone tell you any differently.  As you point out, if you can't afford to make up the difference between the rent and the mortgage, the plan ain't going to work an…[Read more]

  • just another quick one, as i currently own an investment property that was built in the last 12 months.  when the tennant does deicide to move out at some point in the next year or so, am i then able to claim the FHOG if i then live in the house for a 6 month period, despite the fact that the state government's grant is no longer available?

  • ALF1 wrote:
    G'day Matt. Knowledge on its own is NOT power. Gain the knowledge and do nothing with it is meaningless.  Knowledge + Action = Power!May I suggest you start buying Australian Property Investor magazine from your local newsagent – HUGE levels of KNOWLEDGE. Also, checkout the Investment tab at our website and see if this is further…[Read more]

  • Skyes,Yes you are correct, i did find it extremely difficult to get a loan and in the end i was unsuccessful. I was fortunate to have my parents help me out by borrowing against their porperties.  However, although the loan is 'theirs' they do not contribute anything to the loan and the onus is on my to pay the house off.  While this was not my pr…[Read more]

  • although i may be in a different situation to you, buying property while at uni isnt as hard as most people think.  i am currently at uni, studying mechanical engineering an commerce and so far I have had ridiculus contact hours compared to many of my friends.  I have regularly had 25 ish contact hours compared to the 12 that my friends h…[Read more]

  • kong71286 wrote:
    Hi Matt,I would like to commend you for thinking about investing so early on in your life, and am glad to hear you have so much support available in your family – you are already off to a very good start, and the fact that you have already saved up $25,000 despite only being 20 years old, shows something about your character.…[Read more]

  • sorry, just to add some further information.  May father, uncle and granfather are sub-contracted truct drivers (grandfather is retired now) so they have their own company.  Is it possible for me to use it as a way to borrow more money, maybe set up my own company and have their company own mine (not sure if i want to be part of their company)?

matt_decat

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