How interesting, I am going through a similar problem at present.My situation is, I have a 2 bedroom flat in a block of 7 flats, 2 stories.All the owners have got together and are fed up with our Body Corp Manager, which we are currently paying 1200 PA.We did some investigation on some alternative Body Corp Managers and have found that in order to…[Read more]

There are quite a few threads on this topic, do a search.Or even better, go out and buy Steve's new book, he has a dedicated section on trusts.Alternatively, the best advice you can get is to see a seasoned accountant that has experience with property investing clients.Cheers,Miike

Some basic's for ya…Make a decision on the strategy for the property.i.e. Is it an investment or a home.There are pro's and con's for each type of structure and can be costly depending on your decision. i.e. Trusts, in your name, etc…I also recommend having a checklist of things to look out for. There can be many hidden issues with properties…[Read more]

Great place, I'd recommend avoiding the Sunday crowed! I'll try and join one of the meetings on return from traveling in march…if they are still goingCheers,Miike

Nice post.I'm starting a new internet business idea. There is nothing that exists out there like this and will really be a powerful site for the average person to take advantage of.I'll elaborate on this once I am starting to develop the idea…may even get some people as testers if interested due to the nature of the site.Cheers,Miike

Hi Adam, This is an excellent initiative.I would like to participate in a social gathering to have a discussion about investment.Unfortunately, I am not going to be in Melbourne until March….going traveling.Can you PM me with your email and I'll see if thins will be an ongoing or another meeting in March.Cheers,Miike

Just to add.Only Loan specific accounts will affect your ability to obtain finance.e.g. Investment Loans, Property Loans, Business Loans, Lines of Credit, etc..Saving Accounts are seen as a cash account by an organization providing financing. However, not the only thing factored in during due diligence for financing.Cheers,Miike

Hi Guys,Honestly, looking for hot spots will just confuse you and make you chase your tail.Yes, hot spots can be found, but generally by the time they have been declared a hot spot, so many investors are snatching up property that it causes false momentum in the suburb, that cannot be sustained which causes the value of the property to remain…[Read more]

Check out:https://www.propertyinvesting.com/resourcesLook under: Out Of Stock / Past EventsCheers,Miike

There are plenty of different structures available.Either way, when you transfer land/property from the name of a person into another company or person. You are affectively changing ownership of the title, thus stamp duty will apply.Please seek further information from a licensed professional that specializes in this. http://www.chan-naylor.com.au…[Read more]

An accountant can help you discuss the movement of the property as per ATO regulations, however a lawyer is the appropriate person to speak to regarding asset protection.Ensure the structure matches your aim, be it asset protection or reduction of tax.Cheers,Miike

The best thing you can do is work out your budget and stick to it as everyone is telling you….I recommend also having a test budget to see if you can stick to it with a mortgage and make sure you are not going to be in trouble later on…assuming your wanting to buy a property Cheers,Miike

If you want stats…most of the time there will be a cost. i.e. A Residex reports or a magazine such as API.Remember, the best stats will be your own due dilligence performed on the area…You need to know:- what improvements will increase value or rent- what types of properties attract the buyers or renters you want- etc…not just if the area is…[Read more]

Honda Integra VTI-R 98SEHas a hatchback, but looks like a coupe, good for stuffing shit into it during renovations, has done me well….dreaming of an upgrade to an SR5 with all the extra's …Maybe another property or two and I'll invest in myself lol!!!…miike

Thanks Guys.Cheers,Miike

It is a unitCheers,Miike

Don't forget to perform thorough due diligence. Factor in what you can afford. e.g. If the rates were to increase 2%…Cheers,Miike

Easy things:- Bed, Lounge, Hallways – Repaint, Polish floors (pending floor type) and new curtains.- Redo cupboards with new flooring and paint if neededHard things (non-cheap):Kitchen – Cheap Cab's, new benchtop (stone or laminex, pending your target and goal), new flooring, splashbacksbathroom – new cupboard and basin, clean and possibly replace…[Read more]

Thanks Richard,I'll investigate this…Cheers,Miike

Hi Richard,What is a DFT?  I haven't heard of this before…Cheers,Michael