Scott No Mates wrote:
Silly question: if your income is so good & low expenses, why only $10k savings?

Consider starting a smsf & put $25k each before end of june as well as your existing super. Watch that you don’t exceed your cap between employer & own salary sacrifice contributions. Not only will income in the smsf be taxed @ 15% compared to…[Read more]

Benni Brials wrote:
Thanks Paul and Mik,I doubt I will Vendor finance, This being because it will never be my PPOR, I will see if I can get some coin lent from the folks to start me off.  I was thinking about going: In my first year: 1 Cashflow positive and 1 negative (they even each other out) Second: 2 Cashflow positive and 1 negative (Start g…[Read more]

Depends which state your in and also your contact.

I know some ( not all ) VIC contract – the buyer is responsible after 10%
NSW – the seller

But end of the day it’s really contract dependent- hence why we need a good lawyer to check the docs

Regards
Michael

Benni Brials wrote:
Hi all,First post here so I thought I would make it down to the point. I am 22 working in the mines. I have little outgoings and make just over 120k before tax. My partner and myself wish to leave the mines in 5-6 years to move back to a nice town down south. Only one problem, my 120k salary will go to about 50-75 before tax,…[Read more]

Kitchen- I know it applies to most council of NSW, ACT and VIC homes- not 100% sure about the another state.
Plumbing – was fine with me, i re piped a whole house and council said no DA or approval required…( Hornsby NSW council by the way)

But the reason for the kitchen when i spoke to a town planner is for safety reasons – gas etc…
Note:…[Read more]

wisepearl wrote:
do you need any sort of approvals for removing the arch? assuming not, as its not a load-bearing wall, is that right?

No you wouldn’t

All “interior” renovations dont need approval unless your wanting to add an extra kitchen in.

Regards
Michael

latinoz wrote:
Hi everyone!
How would you rearrange the set up of this properties to get maximum benefit to continue investing ?
Anyone ???

Hi CB,

Firstly, the 2 rate you quoted are very high for the LVR your on; so that’s something i would look at- asking for a discount.
Anyway; back to the story of investing….if you like your PPOR; stay…[Read more]

JAYT wrote:
hi there every one who uses this forum. my name is john townsin, i am 21 and currently have 1 investment property in townsville. my main goal is to eventually live of the rent from my investment properties in 9 years time. this would require me to approximately own 8 properties outright. (assuming each one brings in roughly…[Read more]

Just ask your broker…. make sure his accredited with all the banks and not just a handful of them, one that comes to mind is ANZ- done it in Jan ; don’t think they have changed their policy on this since then….LVR might not be as flashy though-around 70%..
But there are def a good choice of lender that will do it at 80% + of course you have…[Read more]

As jamie mentioned ..goes stright to “STANDARD variable” –important! – meaning it be the standard rate without the discount ( which NOBODYS goes on…) so you will either have to go for

1. A basic variable rate
2. A package rate

Either way; the rates are negotiable,
Which bank is it with?

Regards
Michael

ksherwell wrote:
Have you considered UBank or Beyond the banks? They too have 6.5% for refinances. Beyond can give heavy discounts I haven't heard of any better rates.

Hi Kane,

I would re-think about going to “beyond the banks”- i use to be accredited with them ( stopped as of March 2011) ( they use to be headed by PFG- they have no…[Read more]

Hi Ahn,

We see an accountant not for them to show us WHERE to buy…but more if we buy what are the negative and positive and should it be more -ve or +ve etc…

Im guessing from your post, this will be your 1st investment?
Personally for me, if i was in your situation i would buy a house not a unit. why?

1. Your living at home anyway- so you…[Read more]

If it’s stock – Paper trade for 6 month

Property- Focus on one property type, and area and work with the numbers and look for “growth drivers”

Most importantly, speak to ppl who have similar mind set and learn from each another- then build a great team of professional who would work WITH you and understand what YOU want to achieve…

P.S i…[Read more]

Out of 10 ppl who cross…5 of them will not have any issues at all with crossing and they live a happy life and havea great relationship with their bank…HOWEVER the another 5 suffer and complain about crossing…why?

If you decide you wanted to sell one of your property- all the property that are crossed to that property need to be “uncross”…[Read more]

Yep …same-

are you asking;
1. Why invest in Real estate?
2. How?
3. Where?

confussed..

Pinkboy it sounds like you havea very interesting mining business- mind sharing what your company does or name etc?
Feel free to PM if you prefer.

I love your drive for business!!

Regards
Michael

Hi,

I use http://www.gfi-au.com.au/ for my IP in the City CBD-

Charge me 5% Management fee + they get tentant REALLY quick at a very high price -as they have connection with the China market ( Proffesional ppl + Student)

My unit has NEVER been untenanted as they alwasy have someone lined up.

Mention- Michael From shapehomeloans OR Michael…[Read more]

Sounds like the Uni lodge…

If your buying the 1bedroom one- 160-180k— expect LVR to be around 50-60%
If it’s the split lvl 2 bedroom one $220K+ — LVR can be achieved at 65-70%

Since this is your 2nd IP, you MAY suit the bill to obtain finance for student accommodation if you have enough equity to back you up. However as a investor myself;…[Read more]

Hi,

I run a medium size business, however i know plenty of ppl who run small business ( my parents currently run a local bakery).

Your concern and fear is VERY common- rest assured.

Everytime i walk down to the local shops and speak to the local business all i hear is:
1. Less and less customers- all migrating to the bigger shopping centers
2.…[Read more]

Jamie M wrote:
But then you forgo the joy of tax return time

No, I’m only joking. If cash-flow is an issue then the variation can be very handy. I haven’t personally lodged a variation form before but my understanding is that it’s quite easy to do yourself (so perhaps suss it out before going to the accountant).

Cheers

Jamie

Jamie im…[Read more]