If you don’t have another property then you would probably have to front up with a deposit.

I’ve bought a property which I didn’t want to put any money into, so just with $100, but I used another property as collateral with the bank, so when the deposit became due, I borrowed it from the bank rather than use my own money.

If interest rates do go up dramatically, rents will also go up. A vacancy rate of 2.9% in the Sydney market is healthy – I agree with Bill Moss. Why be pessimistic? Doesn’t it make more sense to assume that your property is going to be one of the 97.1% of properties rented rather than the 2.9% sitting vacant? Renting a flat, either in inner city…[Read more]

I don’t see anything wrong with your strategy. And the vendors are always free to refuse a conditional sale. I have just sold a property unconditional. I refused to sell it subject to finance. It’s the vendor’s perogative, isn’t it. Of course, if you really want to property, and the vendor has got your offer STF and another offer unconditional,…[Read more]

Hi,
I’d sit tight and wait it out. It’s not losing all that much. And getting connected to the town sewer will be a great windfall. You’ve got decent tenants and the land is huge. Why not look at it a different way – $184K invested but, say, $90K of that was for the land, so $45K is really the investment in the half of the land you still intend to…[Read more]

Let’s take a break from caution and over conservative attitudes to investing, guys! The RBA, in spite of the effect on exports and the looming election, may well continue to increase interest rates. Australia is running at a deficit. One good way to attract capital – to make it more attractive to save than to consume – is to increase interest…[Read more]

Hi Barbara, I don’t know a lot about CGT and PPOR being turned into an investment property but some thoughts that came to mind when I read this string: how long are you going overseas for? Has your home had a strong capital growth that would then attract a proportion of capital gains tax if you turn it into an investment property. If you are…[Read more]

Easy to buy, hard to resell ?

And hard to obtain reasonable finance.

Pisces133

Would love a copy ….. zollo1@bigpond.net.au

quote:
I have Property Manager Pro Version 3.14, I can email it (6Mb) if anyone wants it. Also heres a freebie, looks ok.

http://www.otter-software.com.au/Software/PropertyTrackerPages/NEWSBREAKNOWFREE.html

quote:

Quote:
I have Property Manager Pro Version 3.14, I can email it (6Mb) if anyone wants it. Also heres a freebie, looks ok.

Hi
Please email me a copy
thank you
email is
conger@goconnect.net

A NSW government proposal eh ?

Just grandstanding as it is a Federal matter.
Must be an election coming up.

Pisces133

>>”…secondly negative gearing in it’s current form must go. I think it keeps prices at an artifically high level and rents at an artifically low level.<<

If people do not get a tax deduction then there will be a lot less rental properties available which in turn will lead to rent explosion.

A damned if you do and damned if you don’t…[Read more]

Hi Steve,

Thanks for deleting my post. It’s a pity that the truth is often accompanied by pain. A pity perhaps too, that you were unavailable to edit and confront the perpetrators of the damage now done.

It’s your bat and ball, fair enough. As one to treat this forum as a guest, I accept your editing for what it is.

Kind regards, Phil

>>It said experiences in other countries revealed that these loans have a higher default rate than conventional mortgages.<<

What are they talking about ???

Never mind other countries, surely the default rate in t-h-i-s country is well known so why isn’t that quoted ?

And a higher default rate so what ? Doesn’t the lender get compensated for…[Read more]

Remember guys that sometimes a builder cannot get finance until he has sold a number of the units off the plan. This puts him under some pressure.

If one is dealing with such a builder direct one may be able to not only get a better price but, if he is very anxious to get started with the construction, he may even be prepared to give you a…[Read more]

Wow. This is brillaint advice. Thankyou so much all of you.

I have been through a report with the real estate in regards to charges ect and am happy to say all the stuff mentioned in the report is what you all mentioned. I am happy with the real estate. They sold me this place, and do the strata on it and as an owner occupier, I have seen them in…[Read more]

Hi Anna,

You missed the joke. As in “happy to pay $5 extra for a small dog“. Did you install the dog next to the dishwasher?

Kind regards, Phil

Hi guys,

Westan, I see what you mean about long term and looking at history. I found out the hard way with my last prop. It served it’s purpose then, (although negatively geared) but would easily be worth double now for which I sold it, about 4 years ago.

I feel that many here are focusing purely on the positive cashflow aspect, while ignoring…[Read more]

Hi Paul,

Thought I was the only one to pick that up. Reminds me of the language variations of “I love you”.

Italian: Mio amore amica (kinda sorta from memory)
English: I love you
Australian: Nice tits

Regards, Phil

Mel or Shaunwalker, any chance of either one of you showing us one such a depreciation schedule so that everyone can look what it details.

Thanks,

Pisces133

Hi Sue,

Do you remember me saying that it would become busier in here toward the end of the week?

Kind regards, Phil