His solicitor can issue a notice to complete, if they do not complete there is usually a penalty payment that they have to pay. Get him to ask his solicitor or have a look at his copy of the contract. ( Now that I think about it that is what the vendor can request from the purchaser, i am not sure if it works the other way around. But he can…[Read more]

i think I have become a compulsive property shopper!! i need to start looking at properties out of NSW to avoid paying land tax. Anyone got  any towns outside NSW that are good to look at? I ahve been looking at Horsham and Ballarat. I have had good experiences in Gunnedah as far as NSW towns go and have a great property manager if anyone is…[Read more]

What would the figures be like if you changed the loan to IO?

Thanks Mick,i have used this site before, but I was getting a bit more ambitious and was hoping to find a list of such towns as  astarting point and then work backwards from there, lokking at proposed development, employment opportunities, rental demand etc.cheersSonya

Clare, Is this your mum's first home purchase? If so then she would be entitled to the FHOG.cheersSonya

I was fortunate enough to get my two IPs insulated before the scheme was dumped, but now I am wondering whether they have been done properly or by one of these cowboys that jumped on the bandwagon with no clue about correct insulation installation. A local family, well known by my dad who passed away late last year, lost their son when he was…[Read more]

Wow, doesn't half sound like a charlatan!!! There is no way that i would be giving money to someone with such a disfunctional 'business' Run for the hills and take your money with you!!

You will need to provide a few more details in order to answer your question. firstly, what is your budget? What do you consider a 'good yield'? AS you are overseas you would not be entitled to to the tax return benefits of an Australian resident, therefore what may be a good yield for a resident may not be a good yield for you. Also it depends on…[Read more]

I agree with the previous two comments, there is no way that i would want that agent managing my investment. Ring around and find out when other agents allow people to view properties for lease. While you are at it ask how many rental properties they manage and how many staff work in rentals. If they have too many look elsewhere for a firm that…[Read more]

I agree with Dwolfe and shales, and if you have read any of the Rich Dad poor dad books, kyosaki also talks about getting more bang for your buck as well as spreading the risk by buying three or four cheaper properties rather than one super expensive one. i don't know many people who choose to buy an IP worth $1 million. There would be some people…[Read more]

Hi Todd, if you want to know what your credit rating is you can request your credit rating.You will have to provide specific details such as DOB, address etc as well as proof of ID then you can either pay for a report via email or wait for about ten days and they will post it out for free. I can't think of the address, but you can probavbly google…[Read more]

Maybe I am naive, but when I was a tenant I always bought and replaced any blown light bulbs. i have three IPs and am yet to pay for lightbulbs. i would have thought that they would be like toilet paper. They are somethinng that the tenant needs and uses and are not 'aatached' to the property like carpets or even window furnishings, so should be…[Read more]

Remember this is your property, I would want to be dure that the pest control was up to date to avoid any structural damage. I would assume that light bulbs would be the responibility of the tenant and washers the responsibility of the landlord as most people can change a lightbulb but may not be able to fit and change washers. Remember to eep all…[Read more]

Hi. It is always a good idea to listen to people who have 'been there, done that'. I personally have no knowledge of the group that you are asking about, however, i would be wary of groups that charge you large sums of money for information and/or  push their own developments. This forum that we are on is full of people with a range of…[Read more]

Himy houses have all been ex-housing commission, I have had them positively geared almost from day one. As far as future sales go, I don't know how they may appreciate for sale as I don't plan to sell, it is only an issue for me regarding having increased equity to borrow against in the future.cheersSonya

Also, people sometimes refinance after the five year time  frame to then have another five years interest only.

Wyeth,Thanks for doing a better job of explaining the way loans work than what I did!!cheersSonya

Hi Todd, From your statement it appears that even though your are paying more than what you are required to pay every month, your principal (The original amount that you borrowed) is not being reduced. for example. lets say you originally borrowed $10,000 and have to repay $250 per month. For the first few years this amount is only paying the…[Read more]

HI  have bought all of my properties 'sight unseen'. I rely on speaking to a number of real estate agents in the area, focussing on the property managers as they are the ones who have to find tenants for the property so they give the most honest answers regarding the better areas and types of homes that rent well.You can also google different…[Read more]

Todd, Why are you apying so much on the loan for $6300? you are already in advance on this loan and don't appear to be reducing your principal at all. Double check this with your provider. If you are not reducing your prinicpal then pay off the debts that you can reduce the principal on, such as the credit card, which could be paid off in full in…[Read more]