Hey Rastus. Good on you for getting a good deal like that for your PPOR. Honestly. a 100% finance, there is not that much better rate you will get (excepting loan sharks and fine print type loans) and as the others said with your LMI and exit fees forget about it. If it is of any help, to put things in perspective, the best rate you are likely to…[Read more]

Hi yessy. I imagine you will find all is revealed in your ‘masterpack’. If not you’ve done your dough! nearly any book on property, including Steves books deal with this, and if you have a look on this site back at some of the newsletters you will find the odd checklist for property inspections etc. there. Naturally, if getting serious, you would…[Read more]

Hi Creation1, and welcome to the forum. You can answer this one yourself, as really it all depends on your feelings. If you are 100% clinical and concerned only with getting started with building an investment portfolio, obviously renting. Sure, dead money, but not the responsibility and you can work on your investing plans meanwhile. However…[Read more]

Hi Jefferson. The world is your oyster….. Seriously though, a lot would depend on whether it is for an IP or your own home. That said, there are many bank and non bank lenders that will lend up to 95% now, as long as you can service the loan, and that there is no problem with lenders mortage insurance, which as a general rule of thumb is…[Read more]

Hi Daryl. Depends where it is. Where are you? In tassie for example, your offer is actually made on the contract, but naturally you can /would insert a clause or two to protect yourself. A due dilligence clause, or subject to buyer being satisfied with whatever type ones cover you here. If the offer is made in writing not on a contract though,…[Read more]

Hi. Good on you….you’ve done well. The popular thought is to never sell property….keep borrowing against it or pay it off….although if you view it as a ‘vehicle’ or means to an end, residential property is for you to make money on and use to suit your lifestyle……so why not sell if you need some cash, and it frees up a bit for another…[Read more]

Hi Alotti. You will find some other comments about this in the forum if you have a look…..the general concensus being that part of tassie is a bit like buying a lotto ticket. Lot of vacancies and property managers up to a couple of hours away tend to influence decisions. Even a lot of the re salespeople in Tassie agree. Then again, if that does…[Read more]

Hi Celeste. Good on you!. Sounds like you’re doing well…..Congratulations and all the best.[thumbsupanim]

Hi. This really depends on your goals and what you want to achieve. If you love the property, and it is a family home for you and you have no difficulty making repayments, as Terry said you would be way better off to use the equity in your property to borrow. However, if you wish to ‘simplify your life’ and get out of debt lots of people take this…[Read more]

Hi Chris,
Good on you for that saving. Did’nt have a brain to bless myself with when I was in your position. Anyway, as you obviously did not have your car ‘financed’ as such through a bank or credit provider, it is already unencumbered….or all yours. And of course, while you will be paying your folks back, and have nearly finished doing so,…[Read more]

Hi Paul,
You could always buy a house half an hour away in Ouyen for $50 grand…your FHOG would give you 80%lvr !!! (ahrgh..just joking!) Seriously though, if you are living there for two years, paying rent, and you could get into a modest home using your grant, and deposit where necessary, without paying any more for the loan than rent don’t you…[Read more]

Hi Draconis. Chalk it up to experience……at least you have a nice car, and if it is economical it is a win- win. By the time you sell it wear the loss, and then by a cheaper one, you will end up having lost money and have a pus-box, as opposed to having lost money and a newer reliable economical car! That’s not a lot to spend on a new,…[Read more]

Hi Rob. Congratualtions…..you have in your posession what others are scouring the countryside for…..cashflow and capital growth. The unit sounds a beauty…well done. My personal opinion (which is what you are asking for…) is that unless you were bordering on destitution you should hang onto these, and maybe still even then! The replies so…[Read more]

Hi. We are using AAMI at present, had a bit of a shop around and they are always good value. Got the Building insurance, with some contents cover, and the landlord insurance on top of that. (Got to get them all together) Seemed to cover most things, inc accidental and deliberate damage etc. never claimed though. The one occassion I wanted to was…[Read more]

Hey Josh….great explanation, especially re the cross collatoralizing. Pro’s and con’s both ways that’s for sure. Thanks[whistle]

Hi Tony. Good idea, and great to go for suggestions and input. POSH+ is what I use, and the features are pretty good, does a great P&L. Like anything, there is stuff that it could do without, and stuff it could do with too ….. A distributor in Australia is http://www.manac.com.au and there are some screen shots there, and it is also usually advertised…[Read more]

Hi Porsha. Just remember that each state has different buying proceedures/processes as far as making and accepting offers, gazumping, conveyancing (whether you have to use a solicitor or not) and other issues, as well as stamp duty and land tax rates etc. among other things. Make sure you check that out first depending on where you are…[Read more]

Hi. Good on ya! Just thought I should clarify a point mentioned in another reply as far as Interest only loans/payments go …….there is no problem getting an IO loan for owner occupied property, so the refinance issue would not arise. Andas Aperry mentioned make sure you link it to an offset or all in one account until you move out, so you can…[Read more]

The take home message here, is there will NEVER be a good time to buy.

Tsk Tsk Dr.X Umm…..I’ll be positive. I just could not resist the age old saying that we should probably all take a bit more notice of (IF we plan on an RE investment path as our future thing…)
The BEST TWO times to buy property were 10 years ago and NOW !
There.…[Read more]

Hi Sarah. Agree about the inner west coast Tassie mining towns. But the area on the North coast, between Wynyard and Devonport seems ok, and I think parts of Launceston would be good to buy, although I have not looked there. Done a bit of sniffing around over that way, but Burnie area is pretty hard to beat for value I think. Tight rental there at…[Read more]