propertypower replied to the topic Getting Rid of Tenants…the start of the tenancy was very dodgey in the forum Help Needed! 14 years, 11 months ago
Hi blay,You may want to make sure your father has appropriate landlord insurance as well. This should (to a large extent) coverdamages from malicious damage, loss of rent, etc.
Hi Michael,I think on a No-Doc loan you can get 70% LVR only.Some pros of No-Doc loan are:1. No proof of income is required and therefore there is very little paperwork.2. Because you are putting in 30%, you do not have to pay the Lender's Mortgage Insurance (LMI)Some cons of No-Doc loan are:1. You have to put 30% deposit and therefore more of…[Read more]
hi Syphanx,Welcome to the forum.I think its good that you have started thinking about investing now. I think you should do the following:1. Pay off the personal loan2. Pay off the loan for laptop.3. While you are paying off the loans, educate yourself on property/share investments and more importantly the psychology of wealth creation. There are a…[Read more]
propertypower replied to the topic any experienced property investoer inlembourne want to give me some mentoring. I relaly want to turn around my situation in the forum Hi cutegal,Welcome to the 14 years, 11 months ago
Hi cutegal,Welcome to the forum.I would say, why don't you use this forum as your mentor. There are a number of experienced people on this forum who are willing to offer their advice. That said, I am in Melbourne and will be willing to help you as much as possible.
propertypower replied to the topic hotspotting.com.au reports – good investment or not?? in the forum General Property 14 years, 11 months ago
Hi vegemite3,you might want to try some residex reports as well.The November and December issues of API magazine has the top 100 hotspots as well.
Hio alwayslearning,Buying off the plan is a somewhat risky if you want to flip the property. You should always be ready to settle on the property if need be. Make sure you have done your research on the area, developer, etc before you get into a contract. Few things that might help you in an off-the-plan deal are:* Buy in an area showing growth*…[Read more]
propertypower replied to the topic Pricing mix up by developer for off the plan purchase in the forum If the contract has not been 14 years, 12 months ago
If the contract has not been signed by both the parties, I think it will be a challenge to get the developer to change. Maybe you can ask the developer to tell you the prices of adjoining townhouses. Assuming they have similar finish and aspects, you can see if there is a genuine mix-up or the developer is just trying to get some more money out of…[Read more]
hi kirsteh,Congratulations on finding a great deal. I think you should progress with the purchase.Some options available to you are;1. Redraw equity from your PPOR. You need to withdraw approximately $25k equity because you already have $20k saved up.2. Use the savings and equity from your PPOR to put deposit and closing costs for your investment…[Read more]
Hi atapiap,Given the contract did not have finance clause, I am assuming it did not have any clauses about building/pest inspection or independent valuation either. If it did, may be you can try and use them to get out.The other thing – have you tried getting it valued from different valuers. If the property is located close to Melbourne CBD, it…[Read more]
hi p_mac,Welcome to the forum.Studio apartments generally have lower capital growth and depending on the area of the apartment, the loan to valuation ration might be low as well. Its probably better to have a 2 bedroom apartement shared by 2 (maybe 3) students. I think you will find the return is better.
Hi Tim,I will not recommend transferring the property to a trust because of CGT and Stamp Duty costs, etc. Couple of things you can do to increase the protection:1/ Reduce the equity in the house by maximising your borrowing against your current IP.2/ Make sure you have a building, contents and landlords insurance policy.
propertypower replied to the topic Accountant needed-specializing in Property investment in the forum Legal & Accounting 15 years ago
Try Nancy Keep from Nancy Keep and Associates (www.nancykeep.com.au).She is a keen property investor and a very good accountant. He office is in Mt Waverley.Contact # 9544 9577
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