No worries – please let me know how you go as I have a couple who have purchased a land to do something very similar (they are wanting to build villas).

Oh and one other thing – when people ask you what to get you for fathers day, christmas or your birthday – tell them BUNNINGS VOUCHERS! After our renos I knew almost everyone in bunnings on a first name basis!

ZOOTV wrote:

TheFinanceShop wrote:
Firstly why are they going for a 3 year fixed @ 5.85 when they can go with say St George for 5.59%? Secondly what is their long term strategy? They may be better off fixing a portion if they need the interest rate security and having the remainder as IO with a linked Offset. If their plan is to purchase…[Read more]

Firstly why are they going for a 3 year fixed @ 5.85 when they can go with say St George for 5.59%? Secondly what is their long term strategy? They may be better off fixing a portion if they need the interest rate security and having the remainder as IO with a linked Offset. If their plan is to purchase further properties then they can utilise the…[Read more]

It really depends on the area, zoning, etc. A lot of developers in certain pockets of Sydney are purchasing older boutique apartment blocks, renovating all of them and then marketing them the same way as a new units. It is quite attractive for investors particularly those interested in OTP purchases. Higher risk but if done well there is good…[Read more]

Finance will be an issue because of the security type (its a serviced apartment) particularly with your LVR. That aside serviced apartment are bad investment stay clear of them. Look outside the bcd and ascertain an apartment or better yet a house. Sounds like you need the rental yield and have a lower budget so the apartment is the way to go.…[Read more]

Hi Glen,

I obviously work full time but have purchase 3 properties that needed a full reno – nothing structural more walls, floors, bathroom, kitchen lighting, gyprocking, etc.

I took 2 months off work and renovated to hell out of 2 properties. I am talking 7 days a week and 18 hour days. I personally found that if you are a weekend renovated,…[Read more]

Haven’t heard about Full Circle Financial Group but PT Bear is a regular contributor on this forum and he is based in Melbourne. I would contact him as he will be able to talk to you about all of the above. A lot of brokers will tell you that brokers can help you regardless of location which is true but if you are starting out and have a lot of…[Read more]

jenny111 wrote:
Phew!…. Lucky I asked!

Your point is taken – steer out of serv apartments. Being a commercial loan is also another reason I don’t want to get into.

So, regional investment properties? Yes, they are also on my research list. Looking at the price, they seem to be cheap – very cheap in fact, to the point that I doubted myself:…[Read more]

Do you have a few areas in mind and what is your price range?

Shahin Afarin – Elite Property Finance
http://elitepropertyfinance.wordpress.com

Joel0430 wrote:
Hi All,

I’m in a position (finally) to start my property investing journey.

I was wondering what’s the best way to narrow down a location to start looking? Can anyone suggest some resources or articles that might help?

I realise that asking “where is the best place to invest?” is a dumb question, I’m just looking for…[Read more]

There is a sample APM report on our website – that will give you an idea of the information that is contained in the reports.

Shahin Afarin – Property Finance Consultant
http://elitepropertyfinance.wordpress.com

opee wrote:
Hi all,
Can anyone post some information or views on NRAS property scheme.

Is it worth Investing in this sort of scheme.

ANy views will be highly regarded.
Thanks..

There are pros and cons associated with NRAS. Some of the pros include long term tenancies and high rental yields. My personal view is that the cons generally…[Read more]

Hi Alexia,

We don’t run Residex reports but we do run Australian Property Monitor (APM) Reports.

Regards

Shahin Afarin – Property Finance Consultant
http://elitepropertyfinance.wordpress.com

bmtt wrote:
Hi all

Just bought a piece of land with the view to build our first IP. I believe we’ve bought below market value and am seeking assitance in minimising use of capital. Two questions:

1) Which banks will lend against the current market value of the land and not just against the purchase price?

2) Once we’ve decided on a builder…[Read more]

opee wrote:
Hi Everyone,
Recently I thought about buying an Off the plan apartment 2 bedroom plus study in Brunswick ( melbourne)

Just want to know if its a good idea to Invest in brunswick at present.

Price is 550K brand new and all up they are building 150 apartments company name park trent.

Will this be a good investment in terms of rental…[Read more]

jenny111 wrote:
Thanks Everyone for the insight.

So studios don’t sound like a good investments. My next option was serviced apartment, as all the costs are paid for by the hotel management. The only things I were afraid of was that they would constantly demand me to uplift/renovate the apartment, otherwise they would not extend the lease…[Read more]

IO is the better option if you are not going to be tempted to touch the funds sitting in offset account. Paying IO will also help you pay down your personal loan quicker since you are being charged a higher interest.

Re CBA – they are not the cheapest but they have been quite competitive over the past 12 months. Generally speaking I would stick…[Read more]

jenny111 wrote:
HI Richard,I think they all have a separate bathroom. Anyway, by 'separate', did you mean a bathroom with its own door for privacy?  If the answer is yes, then the studio does have a separate bathroom together with a toilet, but a very small bathroom though. The total size  of the studio is only about 16 – 18 sq meter.  Do you re…[Read more]

jenny111 wrote:
Hi. I can understand about expenditure for the administration fund. But what is the significance of expenditure of sinking fund? What is a sinking fund? And how can one work out the most appropriate rost ratio per unit? Thanks.

Hi Jenny111,

A portion of the strata paid by you is allocated to the sinking fund. The committee can…[Read more]