I just had a flash of insight. I blame Michael Yardney, as this idea is from his new book.

I’ll put figures in here to see if they make sense.

Current loan on our apartment is $265000. Previous valuation is $365000.

Therefore, this would be an LVR of 72.6%.

Drawing this up to 80% LVR would give us $27000 to play with.

Now here’s the…[Read more]

Indeed! We originally had a split fixed/variable loan with Maxis Loans (subsidary of ING somewhere I think), then broke free of them and went with ANZ.

We have two interest-only loans with two separate offset accounts for each property.

Because of the amount borrowed, the rate is a “special” 6.62% variable. I’d be interested to hear…[Read more]

Thanks for your comments – I’ve thought about selling the apartment to avoid CGT. But since this is our first property, I’d like to have a bit of experience of actually being a landlord.

Besides, this unit can fetch $380 to $400/week unfurnished.

Cheers!

— MJ.

Originally posted by redwing:
Sell the apartment..put profits into…[Read more]

I guess it’s not ‘fair’ to claim interest charges on something that isn’t associated with earning an income. Go the tax system.

I’ll probably just use the 7% extra as a downpayment for our next place.

Cheers,

— MJ.

It is easy to get to the top after you get through the crowd at the bottom.
— Zig Ziglar

Thanks for the responses so far.

Someone I know suggested a creative way to redraw money.

Basically, withdraw the 7.2% out of our unit and use these funds to purchase shares. Thus, the equity has been used for income-generating/investment purposes.

Then, sometime in the ‘future’, sell the shares and and then bank the cash for whatever…[Read more]

Some food for thought – I live across from the Vision site in River Park Central, so I have a pretty good idea about Vision Tower.

It’s going to be pretty special – it will draw more people to the Mary/Margaret street as the ground floor will have kind of like a mall/shopping precinct. Typically on a weekend this part of Brisbane is…[Read more]

I’ll price the storage areas out and ring my possible future property manager and see what she thinks.

Cheers!

— MJ.

Originally posted by Fast Lane:
I wouln’t say massively increse the value of your property but it would certainly…[Read more]

— M.

Originally posted by The Mint Man:
Sorry if this is a bit off topic but instead of posting a 3rd thread about Virtual kickstart I thought I would put it here.
Anyway,
Who noticed the size of that first vidio he wanted us to watch?
I watched about 1/4 (if that) of it and thought to…[Read more]

— M.

Originally posted by Jarrah:

Hi all!

Steve and Dave were offering their accountant as a sounding board a week ago at Master Class, couldnt be a better guy for the job really?

Too late at night to recall his name though the email is
accountant@propertyinvesting.com he was waiting for our…[Read more]

It is easy to get to the top after you get through the crowd at the bottom.
— Zig Ziglar

— M.

Originally posted by AmandaBS:
Can anyone recommend an Architect in Brisbane/Ipswich to help design a Duplex to be built at Raceview ?
Thanks guys,

Amanda
“It is better to be inconspicuously wealthy, then to be ostentatiously poor…”

It is easy to get to the top after you get through the crowd at…[Read more]

Originally posted by voigtstr:
what happens when they download over 20 gig of movies or music or tv shows in month, do they get shaped or are there extra charges?

Shaped to 28.8k, or thereabouts.

What happens if there is a problem with their connection, if they call the ISP’s helpdesk they wont have all the account details I…[Read more]

Saved me from having to cludge together some formulae in a spreadsheet!

— M.

Originally posted by Jaffasoft:
I just finished a ‘Reno Scenario’ calculator, it’s a new addition to the family of other calculators I have at Jaffasoft.com

And thought I would let you know and share it with other.

‘Reno Scenario…[Read more]

There are 41 places to rent at Springfield Lakes right now, ranging from $230pw to $380pw.

And the $380pw is a two storey house.

What’s interesting is that you can easily tell a rental from an owner occupier house. The fittings look ordinary. There’s face brick instead of render on the outside. The tiles in the bathroom…[Read more]

The correct spelling is Maha Sinnathamby. I’ve never met Maha (or know anyone else who has delt with him), so I can’t really comment. He is one of Qld’s richest residents though… $360 odd million dollars of worth.

A quick Google search revealed:

http://www.abc.net.au/queensland/stories/s1283067.htm

I’d be interested in your…[Read more]

P.S. – There’s a Free 21-Minute audio recording around where Martin talks more about his development strategy.

It helps to put the video in context – both were taken from this presentation Martin did at a recent MasterClass in Melbourne.

Actually, it’s from the Sydney MasterClass.

— M.

My thoughts are below. I’m currently building next to Springfield Lakes in a suburb called ‘Brookwater’.

Springfield Lakes has been around a little while. It’s by Delfin – the same developers who built Forest Lake out of nothing, then started North Lakes (just north of Brisbane).

The most expensive properties at Springfield Lakes have a…[Read more]

My solicitor claims that the seller didn’t disclose the fact that there was a body corporate attached to the property, thus he’s broken the law.

I’ve sent all the paperwork to my solictor who will then calculate the strata due and send the bill to the seller.

I wait with baited breath!

— M.

I’m a Unix System Administrator by trade, looking after largish computers (read: servers) that run business applications, databases, web sites, email gateways, yada yada.

Have recently started a venture building smallish appliance servers running Linux that keep spam and viruses out of small-medium sized businesses.

Still looking at…[Read more]

— M.

It sucked *premium* petrol like no tomorrow, though. I barely got 300kms to a 55 litre tank.

Got rid of it over 12 months ago for a 2003 Commodore.…[Read more]

Wow… what a detailed post!

How much roughly did you pay for timber laminate?

It seems to be cheaper to have the whole house at 9 foot ceilings, at least according to the builder.

The estimator comes back in about a week with a very detailed number of pages. I’ll examine his work with a microscope!

Good call with the…[Read more]

With regards to your new house you should design it the way you want and then think about it’s rentability if and when you get to that, because circumstances could change.

Brookwater is a nice spot, I should know because I was until recently up the road at Springfield Lakes with all the riff-raff!

Indeed: this…[Read more]

The two loan options, loan and equity, are just different loan options that allow you to split the finance across two different loan settings if needed.

The principal figure is the principal payments paid for that period of the loan, a bug has been fixed for the next release where principal payments still…[Read more]

TMA
http://www.email4money.info
Essential Links
First Home Buyer Website

Where?

Do tell!

— MJ.

— MJ.

JKM,

Isn’t that just delaying rather than avoiding? )

— MJ.

Shouldn’t that read “0%” rather than “No”? The NZ Government could easily increase this from 0%.

— MJ.

Originally posted by Mobile Mortgage:
St George offer a 0.70% discount for borrowings in excess of $250.000 in Vic, Qld, WA, SA, Tas & NT.
For NSW & ACT the 0.70% discount takes effect at $500.000 total borrowing, Cheers.

Regards
Steven
Mortgage Broker

Mobile Mortgage Market
Ph:…[Read more]

Vacant land, at least in Queensland, is classed as an investment because you can’t live on vacant land. Makes sense.

However, if I build a house on it and make it my PPOR, can I get a rebate on the stamp duty?

An answer from my solicitor, based on the vacant land being in Queensland:

“No, you do not get a…[Read more]

ANZ will now offer 0.70% off standard variable rate for clients that have in excess of $700k of borrowings.

I assume that’s over $700k of total borrowings?

If so, *rubs hands together*, … excellent.

— M.

— M.

Could you tell me how to get to the download page as I cant seem to find it

thanks

Regrow
You are a fool for 5 seconds if you ask a question, but a fool for life if you don’t.

Instructions would be in the email you received when you purchased the product.

— MJ.

You only really make cash if you get others to ‘join’. For 2-20 cents per email, your eyes will be *bleeding* before you start making any money.

Oh, and if you get any emails for the first couple of weeks/months that is.

Nothing is for free.

— M.

Is it worth to buy M on Mary in Brisbane? I am thinking a one bedroom + study apartment for $361000 and it will settle in Sep 2007. Will it have capital gain potentially?

Regards,

Daniel

Hi Daniel,

That’s way too expensive for a 1 bedder + study.

How many sqm is the unit?

You could buy, *right now*, a 2…[Read more]

Probably privacy. Or the fact that they really don’t know. I’m dealing with a real estate agent for a…[Read more]

Hi Lachlan,

I use Anita Patel. She’s very experienced in property purchases. PM me and I’ll pass on her details.

— MJ.

In Queensland for OTP, Stamp Duty is payable at settlement.

— MJ.

For FHOG you only need to reside at the property for a minimum of 6 months…

— MJ.

Which side of Brissie?

Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap CD which gives you a full Installment Contract.

Hi Richard,

The center. CBD.

— MJ.

What’s the rental yield for a 5 bedroom place at Morningside?

— MJ.

Originally posted by Sailesh C:
This month will see the completion of my latest IP in Morningside. It is a 5 bedroom 3 bath with DLUG. The expected rental is somewhere between $500 and $550 per week.

You will find thet there are very few houses of this size in…[Read more]

Scott

Tax Depreciation Schedules
Australia wide service
1300 660033
scott@depreciator.com.au
http://www.depreciator.com.au

Thanks Scott!

I’ll send you a private email.

— MJ.

In general CBD 2+ bedroom apartments (in just about every CBD) come in at around 4.5% – 5.5% gross yield. The extreme ends (>5.5% or <4.5%) tend to be studio / 1…[Read more]

Mja I have been reding your posts, is the 5 bedrooms for your PPOR in which case I guess it is a personal preference thing

Yeah, is for a PPOR which may end up as an investment unit…

— M.

Quote:
Originally posted by diclem:
Hi MJ,
Genuine five bedroom houses are rare, I know, I looked for one. Some are advertised as 5 beds but are actually 4 and a study. (the fifth is small and has no BIR).
I do agree that over 4 beds could be entering into a niche market. Perhaps student accomodation.
I have noticed a lack of 4 bed…[Read more]

You areliving somewhere else and cant have two PPOR,until the house is built upon the block. maybe thats why they class it as an investment..stops people from avoiding the tax, saying they are building a PPOR then *change*
their minds?

Yeah,…[Read more]

Land is intended to be a PPOR.

However, if and when I purchase this land (QLD), I’ll be charged stamp duty as if it were an investment.

Is there then a process that if I build a house on it and make it my PPOR, I can claim back some of that stamp duty?

— MJ.

As with anything, if there is a demand, there will be a supply. I would not go much more than a 4 bedroom house as an investment though.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

Cheers Robert… I was…[Read more]