What I’ve found over the last 11 years I’ve been living in the area, is that there are good spots and not so good spots. I pick my investments in the area very carefully to do avoid certain spots.

I think sometimes it makes more sense to rent where you want to live and buy where the investment makes sense, however you really need to…[Read more]

Yes you are definitely right about properties in Logan being snapped up quickly. To be honest I’m seeing people offer some ridiculous money for some properties that just seems too high.

I live in Kingston and have properties in both Woodridge and Kingston. I think the type of tenants you get is very much dependent on the property…[Read more]

I live and invest in the Logan area and I think a lot of it will come down to how much you want to spend and whether the house will be purely a stepping stone to your next property or if this will be an actual home.

If you want to rent out rooms then you probably need to decide what type of people you want to be renting out rooms as…[Read more]

Just to clarify under the present planning scheme for Logan City Council I don’t believe you can rent out a granny flat separately. The council currently says the main house and granny flat must form 1 household. This is expected to change with the new planning scheme where they will be introducing dual occupancy (dual key). However it…[Read more]

My current situation is I have 4 IP’s (including the one I…[Read more]

Thanks for that, I've got an appointment with my accountant and solicitor to discuss this. I was hoping to be able to deduct the investment stamp duty as I worked out it would bring the cost back to that of a owner occupied stamp duty.

Cheers
Rudra

Thanks for that, I think I had a similar thought and realistically will have to wait about 2 months before we will have the savings and equity available.

A Discretionary Family Trust is something I have considered as this will probably be the first of many IP's we purchase together. 

Look forward to meeting up with you and everyone…[Read more]

Just looking at the TrustMagic book at the moment and noticed the pricing of it ($99 Hardcopy – prefer that to the PDF version), would like to know your thoughts on the book before I go out and buy it.

I agree that the prices of these new developments are on par with the old queenslanders which are closer to the city. However if you look at house prices for established houses the same distance from the city as these new developments then there seems to be a significant price difference (between 50k to 100k based on my research).…[Read more]

Yes I believe it has already kicked in, very interested to see how it affects prices.

We recently had our PPOR valued and was advised by the valuer who did the inspection that built in robes do increase the value of the property. That being said I'm not sure in terms of dollars how much of a difference this made.

Cheers
Rudra

My PPOR and current IP are with separate banks so there is no cross-collateralisation and the new property will not be cross-collateraised with any of the existing properties. What I am doing is getting a loan form my current bank and taking that money to another bank for my 2nd IP.

I recognise my serviceability will be hit, but…[Read more]

Thanks for that, looks like I’ll have to wait a little bit longer before I can go down that path unless I do voluntary contributions. Look forward to reading your e-book on the topic.

Cheers
Rudra

I will be using equity for the deposit so essentially I am borrowing 100% plus costs, I guess the real difference here is where funds are secured against. Do I try secure a majority against the new IP and pay LMI or do I stick with the 80% and use the equity funds for the 20% deposit and costs.

Cheers
Rudra

Thanks for that, realistically I’m not in a great rush to expand as I am only 24. However what I have found is recently is that I will find property that according to my calculations are close to neutral but can’t act on it as I don’t have the funds at the ready. Hence what i was thinking is to buy my 2nd IP in the first half of next…[Read more]

Cheers
Rudra

Just out of curiosity what do you see as the minimum amount required to buy property via SMSF?

Cheers
Rudra Radasandaran

Cheers
Rudra

Just double checked and it should have gone through just then. Also I would be very interested to know how many situations of a house with an attached granny flat you have come across. Also as a slight side note, I’m currently working on a project to split the upstairs and downstairs of my parents place. Our plan was to rent the upstairs…[Read more]

Thanks for that, I’ve just sent through an email. I’ll be sure to keep you and everyone else updated on how things progress as I don’t doubt there are others out there who are interested.

Cheers
Rudra

Thanks for that, I’m looking in the Logan City Council area at the moment up in Queensland. To be honest I never thought about strata titling till you mentioned it and its something I’m definitely going to look into.

I’ve done research and getting a granny flat put in would cost me about $80k max, however I didn’t include council costs…[Read more]

Thanks for that, I’m looking in the Logan City Council area at the moment up in Queensland. To be honest I never thought about strata titling till you mentioned it and its something I’m definitely going to look into.

I’ve done research and getting a granny flat put in would cost me about $80k max, however I didn’t include council costs…[Read more]

Thanks for that, I do plan on doing thorough research before jumping in and have an idea as to what I want to achieve with this property. I’m definitely not putting myself under any stress, very much taking things as they come. I’m very weary of my 2nd IP as I’ve heard a lot of people say it can have the biggest impact on cashflow if…[Read more]

I would recommend reading lots of books, magazines and forums, this forum has been great for me and I’ve learned a lot or at least it’s prompted me to do further research. I was only 22 when I got my first IP and it’s been the best decision ever, it’s not easy at a young age to get into property and will take hard work but it’s well…[Read more]

From a personal point of view I wish I got into property earlier but was held back due to my circumstances. I’m inclined to say get into it as soon as possible but its all dependent on your circumstances. Have you had a look at your finances yet or worked out what you want to achieve through property?

Cheers
Rudra

Yes I read your profile in it and recognised the name straight away. Have to admit I do like reading the profiles in the magazine, reading about the success of others only motivates me more.

Cheers
Rudra

In your situation I don’t…[Read more]

We’ve just had a request from our tenant if an aircon can be installed in the master bedroom (there is already one downstairs in the living room). We agreed but as a condition we said the rent would have to rise $10 a week but the tenants came back and have offered to pay for half the aircon if we don’t raise the rent (They just signed…[Read more]

Have to admit I’m surprised that they were ‘threatening the world’ because of a thread. While I respect the opinions of people on this forum, I have had a great experience with Premium Finance and will continue to utilise them in the future. I use this forum to expand my knowledge and I have to admit all the users on here have been…[Read more]

I am a fan of premium finance and in fact they are assisting me at the moment with some pre-approval documentation. They didn’t tell me to use the simple calculation to find out if a property was positively geared. If you read my original post it mentioned that I saw this formula in API, also I never called them a mentor. It…[Read more]

Thanks heaps for the report, it helped unbelievably and gave me a better idea of where the market is at in the area I want to purchase. Thanks again and I’ll be in contact in the future.

Cheers
Rudra

Thanks for that and given what you said what do you think of these type of deals? Further on from that are there other methods in utilising equity at the time of purchase?

Rudra

From what you’ve explained it sounds like you’ve cross securitised your properties, while the loans may be separate you were able to borrow over 100% on the second IP because you used your first IP as security. From the opinions I got from others on here, it sounds like you may run into issues in selling one of the properties. From…[Read more]

Thanks and I believe I have made the right decision for me.

Yes I understand both Premium and Storm charged fees, however this doesn’t make them the same.

As I mentioned on another post in another topic, we got an independent valuation done before we purchased the property and it the value was higher than what we paid for it.…[Read more]

Firstly we did get an independent valuation of the property we bought as we know all about West Point and Storm Financial. The valuation was above what we paid. We put a 10% deposit down on the property and used equity in our current house to get this. We did look on realestate.com about a year ago for properties in Logan (where we…[Read more]