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Seriously, walk away. If your balance is under $50k direct property isn't an asset class that you should consider. This is not financial, legal or professional advice - it is just plain common sense. My guess is that someone is trying to line their own pockets at your expense. You need...

Ignoring Dwyer as I don't know anything about them. Rental guarantees are a big warning sign. They aren't real - they are priced into the sale price. Three years is a long time, it would be interesting to see who is actually backing the guarantee. Might just be a $2 company that folds as...

There is plenty of advice on these forums that can help you. The general feeling you will get is OTP is a relatively higher risk than established, simply because you are; 1) buying a product that doesn't exist yet 2) for which the lending/borrowing environment is undergoing some change and...

I've tried to do this analysis for a number of buildings in Brisbane, easiest way is one of the online databases (I used Pricefinder). Compare the buyers address to the address of the property - if they are not the same then fair assumption that they are an investor. This information will...

As Terry says get specific legal advice on this. Probably the best place to start is the firm that provided your Bare Trust documentation. In my case, the contract for sale was executed by the Custodian, thus the title is held by the Custodian, thus the contract with the PM is executed by...

Where you got it wrong is choosing a set of numbers that only tell one possible scenario. Try varying the key assumptions to make sure it still tells a story that you are happy with. We also have no idea whether $5,100 is a reasonable figure to put on your holding costs. With 2 weeks of...

Check the contract - it is most likely in favour of the developer. Whether they will exercise the rights is another matter. Logic dictates that if the developer wants to settle, get the project off their books and move on an extension should be granted as long as the buyer isn't taking the...

Also take note that with OTP often the time given to settle is 14 days (including weekends). Make sure your friend has all of the documentation ready to finalise the application so time isn't lost. The last OTP I settled went pretty smoothly, but I still needed a 3 day extension. Whether...

I have no experience with Oasis and looking at the website I assume is theirs they appear fair dinkum in my mind - simply because they disclose their services and fees pretty clearly. Having said this the devil is always going to be in the detail, so make sure you read everything in detail...

Possibly the wet socks are relevant as they may have caused the supermarket slip? As for the rest of the story I have an image of Austin Powers tip toeing around the place with the theme from Mission Impossible playing. Respek Yo!

I won't comment on whether the price is good value, I suggest you look at what existing properties are listing for in that area to get a feel for whether this one is good value. In relation to whether you should / or can "take this off" your friend, my advice is unless you are prepared to...

Probably best that you discuss that direct with JDC as it will depend on your circumstances. They are in the normal range for Brisbane PMs and charge on a % of rent collected basis. The other alternative is a flat fee approach which some offer. Trev

Agree with the OP, remote working is effective for routine tasks where a person can work for long periods of time without needing regular interactions to proceed. When a richer more iterative interaction is required nothing beats face to face. I love a quote I heard from Russel Brand when...

Tom, judging from your post you did plenty of research and if you already decided that you want to live in it then no doubt it will also appeal to tenants. If you are unconditional now it is too late to worry about the car park. By living there for a while you will be in a good position to...

+1 My 4/3/2 at Penno came in at a bank valuation of $1.1m 6 months ago for equity release loans. Only on 660sqm though. It is on the Park side of Pennant Hills road, bordering on Thornleigh. Trev

I use JDC on Brunswick, so far so good but only a few months in.

One of the regular SS professionals will be able to give you a better informed answer. You need to consider the deductibility of the LOC interest and the separate loan to fund the remaining 80% for the IP. I think the deductibility of both would be at risk if you then decide to live in it...

One way to check is OTP listings, it is usually possible to work out the premium for an apartment with a car park. This doesn't make it the price of a car park but it will give you a feel for it. My research in Brisbane suggests a premium of $35-$50k (typically at the higher end) for the...

Smells funny How can you amass a deposit of $350k plus a current property (is it PPOR or IP) while having defaulted on a utility bill and a credit card, something seems funny. Does it mean you had this money tucked away while you somehow defaulted on the bill and the credit card? If this is...

Caveat Emptor If you doubt everything you are being told by an REA then you are on the right track. This is not to say that REA's are dishonest it is just the right mindset to have about such a significant purchase. And if it isn't in the contract it isn't included anyway. I think it is...