HI,Purely personal opinion only based on previous research & gut……Sale, Traralgon (which has had a lot of its 'quick growth') Moe, (north of the highway)  Morwell (a definate last.)If looking purely for cashflow, lower purchase price, neutral or slightly pos CF it would be Moe (sth of the highway) or Morwell. Cheers.

Work out how much you will actually be borrowing, including from other facilities you may have such as Lines of credit etc that you may be using to fund purchasing costs / deposit etc. THen to that figure, times it by the current (or any) interest rate % and voila, you have the interest only amount that you would pay over a year. Thats the quick…[Read more]

1) Start earlier2) Start way earlier3) Not waste so much money on cars4) TWO lessons that I have learnt from that have stifled what would have been good gains……a) Dont be obstinate and haggle over a couple of grand – after reading mantras about 'walkign away' and 'you maek money when you buy'. True, but ever worked out the interest on a…[Read more]

Hi Sharra – fair enough too. I think you've answered your own question now. So what would you do with / invest in with the bit of change you have left over? I guess too, as you will have a bit of relief with the interest rates in the next couple of months, perhaps make sure you maximise the sale price you can get – rather than selling too cheaply…[Read more]

Hi Troodyg,I've used the below one, or a 'cocktail' of it a few times. You can change the wording to suit of course. Usually the RE or the SOlc would do this – depneds on the state. I believe (credit where it is due) theis one was a DD clause used byt the very switched on Mr. ROb Balanda. (contributor to API magazine too) All the best.“This a…[Read more]

YoungInvestor wrote:
I believe NAB uses PMI now.Not sure if they are related to QBE in any way, but still.

FYI Nab changed to PMI around two years ago, and QBE, who own PMI changed the name form PMI LMI to QBE LMI around 8mths ago. Not that I work at the NAB, but I can guarantee that all the banks application forms and privacy consent paperwork…[Read more]

I'm quite happy with posh – but I only use it for P&L, and end of year statemenbts/reports. It does depreication and keeps tracks of costs and income really well. Gives a good snapshot of your properties too inc history.  If I was doing rental receipts, and had dozens of propertys I think it would be a bit clumsy though. THat said, they're all o…[Read more]

Hi Lachinov,If I can add a couple of things, in addition to the excellent suggestion of Terrys about doing the budget for the next year and looking at that……Firstly, how much do you think (not hope) you would realistically get for the property for a sale in a reasonable timeframe? If it is definately more than your amount owing on the mortgage…[Read more]

Hi SLamdunk.They do change – but a couple that may help are:-ANZ use their own (ANZ mortgage Insurance)NAB use QBE ( their sister lender Homeside, 100% owned by NAB uses Genworth however – which NAB also did up until mid-late 2006)LMI policies, proceedures, and verifciation of the info you provide in your loan app have all become more stringent,…[Read more]

Hi Marie. Just make sure you get a few quotes. We had a small 3br place done last year, and quotes varied beween $6600 & $12,000 – for the same work (no getters – new colourbond only) I woud imagine $8.5k or so would pull you up for the roof, but as soon as asbestos is involved, that could double – depending on how much needs to be removed. All…[Read more]

GOd of money has said it all………..can you imagine seeing a 'financial planner' or an 'insurance broker' of this calibre? Sorry, but this is terrifying from all angles……..No wonder the industry is in shambles………I wrote more, and just deleted it……..Would a 'financial planner',consider the remotest possibitlty that it would be a…[Read more]

Welcome to the forum sting1Tassie prices in many cases are up with the mainland now – but these sorts of areas do offer serious 'bank for you buck'. Good thing about Tassie, is rather than prices going in fits and starts – big surges then nothing, the majority of reasonable property goes up a few % each year surely but steadily. SOunds good eh? TO…[Read more]

Hi Cashwalton,Nothing like starting off serious! I think it would be a good idea initially to liase with a few agents in the WOllongong area (do you get on ok with who you bought off origianlly!?) and see if they can give you soem 'hardcore' figures on what similar finished products ot exisitng similar ones hae recently sold for (not just heresay…[Read more]

Hi Natasha,just a quick FYI, you will likely find there may be some restriciton on specific loan product types for SMSF lending, depending on the bank, and likely be additional costs also – such as legal costs etc charged by the lender to various docs from your fund 'perused' by their legal area. LVR's are also not as  high, but of course it all…[Read more]

Good question.FYi, I have not processed/sold/ set up a fixed rate home loan in the last 6 mths – whether it be new to bank customers, exisitng cutomers, or for brokers/introducers that refer business.  I did think it was amusing a few months back when fixed rates were in the mid to low 5's %, and all the 'ex-spurts' were going to fix their loan…[Read more]

Hi Morgan,The short explanation (and panel / indepnedant valuers use this too…) is 1) Comparable sales  2) Value added improvements.You sound like you have no2 coverd, but realistically, if a similar place to yours in the area sold for $250k last week (unless it can be proved it was not an 'arms length transaction') it is going to be a brave…[Read more]

Hi Nat,You can – but if you have personal debt, numerous CRA enquireis, and a minimal savings & assets for get about it.Banks you are looking at the NAB and its subsiduries, or else some credit unions (although not a popular option for many still it seems) to get 95% on res property. Some may feel you can get 95% anywhere, but quite simply it is…[Read more]

Hi Macnatt,Not a bad idea – most lenders will definately look at that and take it into account. Remember though, a bank normally will not charge you for their 'valuation' and that as far as a lender is concerned, any residential property is only worth what you just paid for it – sometimes less………………….The think many people shy away…[Read more]

Welcome to the forum KyleT….but Docklands? Prcie Not negotiable? Strongly recommended? Do yourself a big favour and do not let this guy back into your home again.  How much commission is he getting to flog slow moving property I wonder? Now……Keep up the research. 1 bedders are not in short supply in Docklands, so no rush there that's for s…[Read more]

Definately not – congratulations & enjoy your own little piece of our wonderful country.For that price, if you are living in a reasonable area that you are happy to be in – you have indeed done the right thing both short and long term. Enjoy the low variable rates for now too.All the best!Cheers