Recent content by FinSpec

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    What is your NET WORTH?

    Perfect post Dazz.... I know some of the richest people you could ever meet, but a lot of them are pretty miserable! That being said, I know a lot of seriously happy rich people too :D Wealth is a matter of time really for the normal person - when you're starting out, it's $100k - when...
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    Nonrecourse Lending?

    SMSF lending has really taken off with many people using the money in their super funds to buy property. Part of the regulations on Super Fund lending is that the loan can not have recourse back to the fund, or the members of that super fund. As a result, the LVR's are a bit lower, but all...
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    Accountant in Brisbane (North)...?

    I would suggest Tony Lee and Associates for Brisbane. www.tonylee.com.au - huge amounts of experience with property investors.
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    A good Mortgage Broker in North Eastern Melbourne

    I can recommend someone around Fitzroy, is that too close to the city for you? Assuming by needing one in a particular area, you're looking for face to face time with them?
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    new kitchen and $$$$$ add

    Kitchens definately add value to the home, and if done right, can even leave a lasting impression on prospective buyers as a high point. And it does not take much to get them looking good. A % of property value doesn't always work, otherwise I'd be spending anything up to $50k on the kitchen...
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    Sydney Revaluation

    Same here, it would be really interesting to see real world numbers. I can see a lot of evidence to show that some areas are doing really well, with some properties selling for substantially more than similar properties 12 months ago. A recent example: 1 br, renovated single story terrace...
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    pessimistic sods

    Having the conviction to know that is the right thing for you, and then the guts to carry it out is a great thing. It's not for everyone, some people find safety in just watching the world go by. It's great, and often really important, to find people that you can talk to about common...
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    Instalments Warrants in SMSF

    While it does make sense to gear up, it's not for everyone. Gearing is allowed in limited forms in super becuase the rules try to protect investors from taking too high a risk with their retirement savings. If you're close to retirement, or if you are risk adverse, gearing would not suit...
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    Off the Plan - easy or hard to sell?

    It's just selling a property at the end of the day, so it comes down to supply and demand. You'll find that the people who sold it to you will have little interest in reselling yours becuase they probably get paid up to and sometime more than double the normal sales commission. You'll find...
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    Advertising in r/e - consider this.

    On the topic of Agent's Commissions, and interesting point to note. If an agent does not complete the Selling Agent Agreement (different name depending on the state) properly - if they make one error or forget something (such as putting in the % value for their commission, but not giving a $$...
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    What is better?

    I/O is generally accepted as the best way to proceed for most people - it keeps your cash flow needs to a minimum and allows you to maximise your available funds rather than committing them.
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    Allowing vendor to rent property after exchanging contracts?

    Am I right in assuming that your intention was to have this as an investment property and not move in any time in the near future?
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    All About Townhouses!

    Just like any other type of property, a townhouse has it's pros and cons. Typically, they have a backyard, so are simmilar to a terrance, however the land is typically strata - so you own the air space rather than the land. You have rights to the land, and that is what gives you your value...
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    Does anyone pay off principal in IPs?

    We usually (for ourselves and our clients) go I/O with an offset account. Accumulate cash (effectively paying the place down) and utilise cash when the situation arises that you can make a good return. Best of both worlds really.
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    where is that light at the end of the tunnel??

    Ah yes, many of us know this story well. Just like with any project, you need a very thorough project plan. Map everything out - walk through everything in your mind, on paper and on your computer. Work out where there are issues, where you fall short in time, funding, experience etc - then...
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