Recent content by digs75

  1. digs75

    Thoughts on Doolandella ....Qld

    I'm starting to look at buying an IP in Qld and came across the suburb of Doolandella, situated 17kms south of Brisbane Cbd, and located adjacent to Forest Lake. Anyone have properties there or know the area and what's planned to have an opinion on this area being a good one for future...
  2. digs75

    Reasons for selling

    Current value is around $440k, with an lvr of 68%...with sale would look to reinvest in an area that has outperformed the CG averages....the drain of cash flow for next 5 yrs is a signal to me to look elsewhere to invest in property.
  3. digs75

    Reasons for selling

    Haven't sold any yet, all mine are older stock also. I had a special levy to pay last year that doubled the strata fees for that IP for last year, but 9% growth and a revalue more than set my mind at ease. Just heard from my strata manager that the new strata fees are $2500 p/q, starting...
  4. digs75

    Reasons for selling

    I am interested to find out why investors have decided to sell their property in the past ? I am in a dilemma as whilst my property has grown at an average 7% the past 6 years , the holding costs keep increasing. Strata costs rose 140% start of last year and set to increase further this year...
  5. digs75

    145% Increase in Strata Fees

    Got the shock of my life recently when i received my latest strata fees to be notified that the quarterly rate has jumped 145% to $1280 p/q. Building is 38 years old, 21 units in total and due to a previous low sinking fund and capital works required the hefty fees have been agreed upon by...
  6. digs75

    Preparing for a Valuation

    I'm working with a broker at the moment to do a refinance and order a valuation on my IP. To get the best valuation possible what advice/actions can I take or is it in the 'lap of the gods' so to speak ? What I will provide for the valuation are : - Report on recent property sales in...
  7. digs75

    Unconditional Contracts

    This is correct but needs clarification. When you buy a residential property in NSW there is a five business-day cooling-off period after you exchange sale contracts. During this period you have the option to get out of the contract as long as you give written notice. The cooling-off period...
  8. digs75

    Unconditional Contracts

    The obvious pitfall is that you can't get finance (if you need it) and you can't complete the purchase. You end up liable for the 10% deposit (or more) and no property to show for it. Avoiding a finance clause can be a great insentive, but you need to have a good understanding of just how...
  9. digs75

    Unconditional Contracts

    Would be great to get some advice on this one ...... My partner and I have in the last couple of days missed out on a couple of properties due to other buyers signing an 'unconditional contract' to get the property. We are not so keen on this idea ourselves as we believe that doing due...
  10. digs75

    Refinance Query

    thanks for your replies...looks like I may need to go back on PAYG since I will need a 90% LVR in my circumstance :(
  11. digs75

    Refinance Query

    I've currently been contracting since the last 9 months working off my ABN and am wanting to get a refinance on my current unit and use the built up equity to purchase another property. I've been advised by my current mortgage broker that to get the refinance done I have to present at least 2...
  12. digs75

    RBA and Interest Rates

    Would like to know from readers your take on where you think interest rates will go down or stay the same for the remainder of the year ? Do you think a .25% decrease (if that occurs) would entice households to start spending more or not have any bearing on consumer spending. Seems like...
  13. digs75

    How do Interest Rates Affect Property Investing ?

    With another reprieve from the RBA yesterday to put interest rates on hold I am wondering how sensitive property investors are to interest rates increases ? In my latest blog I posed questions as to reasons why some people why be nervous everytime the RBA meets to discuss rates and interested...
  14. digs75

    Is the Great Australian Dream Still Alive ?

    In my latest blog I ask the question about attitudes to owning your own home for people starting out and do we as a society have a different want and need than in the past to having a nice house to live in ? From affordability to practicality reasons i'm interested to know people's opinion on...
  15. digs75

    So Why do You Invest in Property ?

    good point leverage is the key
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