some answers to some of your questions:

1) Conveyancer or solicitor?

If you have like minded friends/family or you know a few people that have purchased property in the past, ask them how they went about the purchase and the method that they used.

Have they bought more than one property using the same method? Have…[Read more]

Grew up in Adelaide for 23 years, then moved to lovely NSW 6+ years ago.

We bought south of Adelaide in Jan 2004 with a guarantor and very minimal savings, 100% plus costs PI loan.

In under 2 years the property increased by over 20%, so we then refinanced with another bank on an IO loan and haven’t looked back.

At the time it seemed…[Read more]

If we decide to keep the shares and obtain a margin loan against them, what sort of ratio can we borrow against them? ( ie 70% 80% of value )

Then, would this interest then be deductable because the loan is against the shares, even though we have used the cash taken from the loan for a private purchase?

And if we choose…[Read more]

AUSPROP, your explanation of the ‘sunset clause’ was very appropriate for our situation, thanks heaps!

[cap]

It is only your thoughts that create your future – Be careful what you think!

If Zaksta has already purchased an IP, is it still possible for them to claim the FHOG?

I too have purchased an IP only (1st property purchae) about 18 months ago and would be very interested in learning about the ability to claim the FHOG, as we are ready to buy another property…..

We too purchased on 100% finance with an P&I loan,…[Read more]

if you just sold a property that you owned, then how do you figure you can legally get the FHOG being that it is for First Home Owners?

[blink]

It is only your thoughts that create your future – Be careful what you think!

correct. i have no desire or time at the moment to even think about becoming a share trading ‘guru’ and would not see this as a viable solution for us – at the moment.

when the shares are finally transferred to my name i may call on you The Mortgage Adviser with advice on how to re-structure our current loan to make it a bit more…[Read more]

There are varied perceptions of the same situation which is excellent. I will look at fixing the fence at my own cost and have the advantages of choosing what i want put up, and which way it faces etc. etc.

Thanks again [biggrin]

It is only your thoughts that create your future – Be careful what you think!

it all depends on a lot of variables when ‘crunching the numbers’.

what you need to take into account is what you would determine the estimated yearly costs for owning/managing any specific property are going to be, by investigating through various sources: R/estate agents, government, local rental markets etc. then…[Read more]

Then we could use the remaining $ from the $20K (after MI and refinance costs are taken out) to purchase another property?

It is only your thoughts that create your future – Be careful what you think!

i too feel obligitory to increasing the LVR to 80% in order for mum [party] to be ‘free’ and so that we can also feel free to choose what we do with this and susequent properties (as there will be more, but maybe not in the form of subsidising…[Read more]

The IP is south of Adelaide and we purchased it in January 2004 for 172K, and has been valued in August 2004 at around 185K. We have since had tenants move out who were paying $165/week rent and a new tenant move in paying $180/week rent.

The house is tired but structurally sound, and could use a good paint job and some…[Read more]

It is in south oz so may need written consent by the sounds of it. would a solicitor be the best person to ask this question of?

It is only your thoughts that create your future – Be careful what you think!

The $20K reno in approx 3 years will consist of a rear deck, front fence (brick and wood) and an interior o/haul – paint, blinds (?), sanding floor boards, kitchen revamp etc in order to increase equity by around $65K – current value 185K to 250K in 3 years from now, as…[Read more]

It is only your thoughts that create your future – Be careful what you think!

Is that to say that when the tennant decides to exercise the option to buy the property they will NOT be eligible for the FHOG if it is the first house they are purchasing?

If the above statement is true, this would seem a bit un fair or am I missing…[Read more]

As i currently am renting, the idea behind this is that me and my partner wish to invest again, as well as my mum, but at the same time we wish to buy a place to live in as well. with this situation, i will be paying lower per week than my current rent, my partner a little bit more than her current…[Read more]

As mum is already claimimg her current house as PPOR, then if we paid her 1/3 of the current market value in rent (1/3 of $150 = $50), then would she be able to -vely gear her 1/3 share?

It is only your thoughts that create your future – Be careful what you think!

your numbers so8und inspiring. oz or internatrional? either way, what was your research or personal background to confirm or be confident about these deals?

It is only your thoughts that create your future – Be careful what you think!

The areas that are asking higher prices are the beach front properties, but they are staying on the market longer so are therefore…[Read more]

It is only your thoughts that create your future – Be careful what you think!

In theory it sounds very attractive, but as with all investing ‘theories’, how do you turn this theory into practical real life situations. For example, the numbers you have stated obviously all add up, but how do you get people to bet with you firstly, then do you look for a one off $650 bet at 2/1 or do you take alot of small bets…[Read more]

It is only your thoughts that create your future – Be careful what you think!

It is only your thoughts that create your future – Be careful what you think!

where did that come from?

It is only your thoughts that create your future – Be careful what you think!

[party]

i think it will be the best option to self asses the items for depreciation. thanking you greatly for…[Read more]

the house was built in 1979. there is not much new in the house from my memory (we purchased in jan 04) but we did buy a s/hand oven for around $400 in the last couple of months. not sure if there will be enough to worry about it?

there are the standard items like carpet, curtains etc. but as this is our first IP, and reading your…[Read more]

we purchased the property with 100% plus costs using my mum as guarantor, meaning it cost $180,000 all up ($172,000 for the house + $8,000 for the purchase costs).

being that the loan is for $180,000 at 6.95%, the mortgage repayments alone are $295/week. on top of that, iwe put in an extra $60/week to cover insurance, rates, property…[Read more]

the only problem i am faced with, with regards to wrapping, vendor financing and lease options, is that the house is in South Australia. it is to my belief that it is NOT legal to do these things in South Australia?

i am not sure whether this is correct or not? if it was an option, then maybe these options would then be…[Read more]

not too worried about the lower tax return if it does work out that way, we were just hoping to put a little bit extra on the loan to build up equity faster (as we borrowed 100%). here’s hoping the…[Read more]

i am feeling silly as when we initially bought the place i worked out a different possible amount & worked it into the equation for yearly return. bummer! anyway, i think it is time to see an accountant.

does anyone know of a very good accountant in the wollongong area who knows alot…[Read more]

just purchased an IP 2 months ago with 0% deposit. no joke. we borrowed 100%, but only by using a gurantor. hard work with the banks but we got it. the rent compared to the price of the house was excellent enough so that this situation was not volatile or susceptible to be affected by interest rate rises. gurantor has to be solid & in tune…[Read more]

currently looking at wollongong area as i live there & have the ability to keep an eye on things if something does eventually come to fruition.

i understand that $ are needed to pull a project of this capacity off successfully.

although looking at building/selling, am always looking to add more properties to our small (1)…[Read more]

Cool, sounds good. Will look to having a coffee in the new year maybe? Hope you enjoy your visit to the Gong, very busy today here with all Xmas craziness!!

Merry Xmas, Happy New Year & Safe holidays.

Nathan

I do agree with you also kay, as i prefer to work things out for myself usually, it gives me increased satisfaction in knowing that i conquered something! I guess i just need a kick in the backside to get motivated! Geez, dont i wish i knew then (2 years ago before the boom) what i know now. Probably would have a few more $$ to my…[Read more]

nathan[8D]

quote:
Hi Nathan

Where abouts are you situated.

Matt

“If you do what you have always done, you will get what you have always had.”

“Isn’t it time for a change?”

Matt,
I am situated 10 minutes north of Wollongong, a place called Woonona. Have you heard of it? It is on the coast.

quote:
Hi Nathan,

We have a 2BR holiday unit in FNQ from which we get pooled income. It is managed by a good onsite manager who paid considerable money for the management rights – it is his income and he is there working you may as well say, 24/7. We paid $95000 for the unit (includes all furniture, whitegoods.) The income is seasonal and can…

[Read more]

quote:
Hi Nathan,

you may find some valuable info by searching for serviced apartments in the search function. There have been several lively discussions regarding this type of investment with most opposed due to it being a niche market, high mgmt fees, difficult to sell.

Thanks Polar Bear, will check it out.
Nathan[8D]

quote:
The first real step is to get out on the ground. Have you read Dolf de Roo’s book “Real Estate Riches”? He has a nice little ratio, as follows, to show that real estate is a numbers game:

100:10:3:1

Basically it means that you look at 100 houses (I’d say you’d want to look at 90% of them in person, not over the net), of those you may…

[Read more]