Six winning strategies for auctions

Auctions are competitive and stressful for most bidders. Here are six smart strategies that could improve your chances of winning.

1. Dont show your hand

Revealing your maximum bid limit to the agent before the auction could encourage them to push you a little further. For example, during the auction the agent might indicate you’re close to meeting the vendor’s expectations, to try to persuade you to bid above your limit. It’s in their interest because they’re usually earning a commission based on the sale price.

2. Ask if the reserve has been met

Bids must reach the vendor’s reserve price before the property is officially ‘on the market’ and then sold to the highest bidder. If the property doesn’t meet the reserve it will be ‘passed in’.

The reserve price is usually set on the day of the auction, or the day before. The auctioneer often doesn’t know the reserve until just before the auction begins, and they don’t have to reveal it to bidders – but you can still ask.

If you discover the reserve, you can wait to bid until it’s reached. This tactic might even persuade the vendor to lower the reserve during the auction if they’re not getting enough bids.

If you’re the highest bidder for a passed-in property, you may be invited to negotiate with the selling agent. Be wary of high-pressure sales tactics here, and remember that cooling-off periods don’t apply to contracts signed on auction day.

3. Ask questions (but know the rules)

You can talk to the auctioneer during the auction to find out information that may be helpful in winning. For example, Consumer Affairs Victoria says you can ask the auctioneer a ‘reasonable’ number of questions, and you can ask them to identify who has made a bid. You can also ask whether the property is ‘on the market’ yet (has it met the reserve price?). Be visible and within earshot of the auctioneer to avoid miscommunication.

Make sure you know the rules, as it’s illegal to disrupt an auction. The auction rules are generally made available at least 30 minutes before the auction, and the auctioneer should also announce the rules before bidding starts.

4. Bid like a pro

Bid with confidence and state the full price to let your rivals know you’re serious. A confident call of ‘$500,500’ (as opposed to a quiet ‘500’) will remind the room of how much is at stake.

You can also try ‘knockout’ bids and offer well above the last bid or the auctioneer’s suggested figure, to intimidate less-confident buyers. If bids are being made quickly you might want to try to slow things down by bidding in smaller increments than the auctioneer suggests.

Pre-auction tip: Ask the selling agent how many people have requested property reports. This will give you an idea of the number of serious bidders.

5. Employ a professional

You can enlist a buyer’s agent (also called a buyer’s advocate) to bid for you. They’ll have no emotional attachment to the property and should only bid what they believe it’s worth (within your limit). They should also have plenty of auction experience and know the tricks of the trade. The Real Estate Buyer’s Agents Association of Australia offers some tips for choosing a buyer’s agent.

You could also ask a friend or family member with auction experience to bid for you. But remember that you’re the one who has to pay, even if they win by exceeding your limit.

6. Be prepared to cut your losses

Accept property reports and legal fees as sunk costs that are part of the auction process. You’re better off spending a few hundred dollars checking a property than bidding hundreds of thousands without doing the pre-auction groundwork. On auction day, if you hit your limit, walk away to avoid temptation.

Auctions can be challenging, especially when there are emotions involved. Sensible, practical strategies can give you the best chance of being the last person standing – or at least stop you from overcommitting – on auction day.


Douglas Piening is a Mortgage and Finance Broker with Choice Home Loans and is passionate about providing advice you can trust. Whether it’s buying a home, refinancing a loan, investing, building or renovating, Doug brings a wealth of knowledge and expertise to assist with your lending needs. 

You can contact Doug at (e) or (m)  0408 671 524.

Want to hear what clients have said about working with Doug? Take a look at these reviews from LinkedIn and Facebook.

This information is of a general nature only and does not constitute professional advice. You should always seek professional advice in relation to your particular circumstances.

Understanding first home owner grants and concessions


Clients of mine recently purchased an apartment off the plan for $550,000 in Melbourne. As (1) they had never owned property in Australia (2) the property they were purchasing had never previously been lived in and (3) the property was valued at under $750,000, they were entitled to a $10,000 First Home Owners Grant from the Victorian State Government. In addition to the First Home Owners Grant, they were also entitled to a Stamp Duty Concession – a 50% reduction. As they had purchased the property off the plan, the Stamp Duty was approximately $3,000, so with a 50% reduction, they saved around $1,500 in Stamp Duty. 

Before you start searching for your first home, it pays to know where you stand on any government concessions that might help you out. These concessions tend to vary state by state and situation by situation, so if you need an explanation, please get in touch and we can discuss how they work.

First Home Owner Grant

The First Home Owner Grant (FHOG) scheme was introduced on 1 July 2000 to offset the effect of the GST on home ownership. Under the scheme, a one-off grant is payable to first home owners that satisfy all the eligibility criteria. Although it is a national scheme, it is funded by the states and territories and administered under their own legislation.

For information on the FHOG in your specific state you can visit .

Stamp duty breaks and concessions

Some of Australia’s state governments have concession waivers of the stamp duty associated with a property purchase.

Stamp duty is a tax applied to certain property transitions. When land is sold, transferred or leased, for example, stamp duty is generally payable. It is usually the buyer, not the seller, who is liable to pay stamp duty. Payment must generally be made within three months of entering into the contract for purchasing the property. The amount of stamp duty payable depends on the value of the property and the amount for which it is sold, transferred or leased. It is calculated on its market value or the price paid by the buyer.

Each state government has its own rules surrounding stamp duty on property purchases. For this reason, the exemptions and concessions available differ from state to state.

Some first home buyers, vacant land holders, and farm buyers may be entitled to some exemption or discount on stamp duty. You can check out whether any apply to you by contacting the revenue office in your state or territory (see the list below for details).

More information

You can also find further information on the First Home Owner Grant or details on stamp duty breaks on your state’s relevant government office website.
NT –
SA –
WA –


Don’t worry if you find eligibility criteria for First Home Owners Grants and Stamp Duty Concessions confusing – you are not alone! Get in touch and we will let you know (in an jargon free way!) how these might apply to the purchase of your first home. You can contact Doug at (e) or (m)  0408 671 524.


Douglas Piening is a Mortgage and Finance Broker with Choice Home Loans and is passionate about providing advice you can trust. Whether it’s buying a home, refinancing a loan, investing, building or renovating, Doug brings a wealth of knowledge and expertise to assist with your lending needs. 

Want to hear what clients have said about working with Doug? Take a look at these reviews from LinkedIn and Facebook.

This information is of a general nature only and does not constitute professional advice. You should always seek professional advice in relation to your particular circumstances.

*Note: Details are current as at publish date and should be confirmed with your local Office of State Revenue or equivalent body.

Want to knock down and build multiple dwellings?

As the population in our major cities continues to grow and with the centralisation of the workforce there is an increasing trend toward greater density of population and smaller households. What does this mean? It means where there used to be warehouses there are now blocks of apartments and where there used to be a single family home, now there are quite often two or more dwellings on the site.

If you are thinking of knocking down an old house and re-building multiple dwellings, there are a number of considerations that should be taken into account.


Where do I start?

It is important to get a few good people in your corner.

  • A property surveyor or town planning consultant should be able to guide you through the initial stages and help you navigate approvals and town planning
  • A good Mortgage Broker will be able to provide guidance on the best options to finance your project.
  • A reputable builder who has experience with this type of construction will help you avoid some pitfalls.
  • A Real Estate Agent with expertise in the local market will know what price your property can achieve

There will no doubt be some challenges (there nearly always is!) but it can be a worthwhile and profitable exercise if undertaken properly.


Size does matter

The size and dimension of a block will be a major determinant on what type of multi dwelling structure (if any) can be built on the block. Setbacks (how far back from the street a dwelling must be) as well as Easements (property clear ways) and Covenants (restrictions on use) must all be well understood. Council Planners will have guidelines on exactly what can and cannot be done on a particular block.

The location of driveways, height restrictions and limits on size per dwelling will all have a major impact on the viability of the project.


Do the economics stack up?

Some back of the envelope number crunching will be able to tell you whether or not what you are looking at is viable. Know your costs and build in a buffer. Do your research into what Townhouses and Units are selling for and it is essential to know what your land is worth.  A Real Estate Agent will be able to help you estimate the selling price for the property once it is built or you can engage the services of a Property Valuation service.  Winston Lo from Hot Spot Property agrees “There can be a great deal of value created with the right kind of build and the right location, but it can be a costly mistake if you don’t get it right.”


Quality considerations

Depending on whether you want to live in or sell a particular dwelling will influence the decisions you make in relation to the property fit out. If you have a passion for pink, then by all means fit out your pad in the shades that you desire, however if you are selling, then maybe neutral tones are a bit wiser.  Same theory applies for your choice of fittings, blinds, flooring and the like – generally steer away from the more divisive styles and stick with more popular ones, even if they aren’t necessarily to your own taste!


Standard build or custom designer?

Your budget and quality considerations will influence whether or not you engage an architect to plan and design the property of your dreams or select from designs that are already in existence. Builders such as Metricon and Porter Davis have options for builders which offer standardized designs and supporting service, however with minimal modifications at a relatively low cost compared to alternatives that are custom designed.  If you are targeting a higher end sale, then a more custom designed property with all the bells and whistles may be more what you’re after.


Is the Taxman going to be interested in this?

If you have previously lived in the property before knocking it down, part of your project may be exempt from Capital Gains Tax.  Narelle Pasavento from Prosper Advisory advises clients on these matters “There are a range of income tax, capital gains tax and GST issues that need to be considered when thinking about building/developing. In many circumstances some profits can be subject to income tax.   It is important to speak to an Accountant early as everyone’s circumstances are different.”


Getting approvals

Every council will have rules and regulations around what can and can’t be done with your knockdown and multiple dwelling. This includes building permits, demolition permits, dual occupancy permits and sub-division permits.  A building surveyor or planning consultant will be able to guide you through the process, or your builder if you have engaged one will be able to assist.


Will I be able to get Finance?

Unless you are in the fortunate position of not needing it, you will need to go through the process of obtaining finance for your build. Some lenders specialize in lending for these kinds of projects and your Mortgage Broker will be able to help you find the best lender and the best rate for your project.  The valuation for the project is key to determining the funding available and will depend on the value of the land, the cost of the build and the quality of the fittings used.



Interested in a knock down and build?

If you want to talk through options you can get in touch for a free, no obligation chat.  

You can contact Doug at (e) or (m)  0408 671 524.


Douglas Piening is a Mortgage and Finance Broker with Choice Home Loans and is passionate about providing clients with lending advice they can trust. Whether it’s re-financing an existing property, buying a new or next home, or investing, he brings a wealth of knowledge and expertise to assisting clients with their lending needs. 

Want to hear what clients have said about working with Doug? Take a look at these reviews from LinkedIn and Facebook.

This information is of a general nature only and does not constitute professional advice. You should always seek professional advice in relation to your particular circumstances.

Buyers Advocates are on your side

Today’s Guest Blog is by Ray Becher, Principal and Founder at Reimund Property Advisory

As a professional Buyers Advocate, one of the questions I get asked most frequently is “What can a Buyers Advocate do for me that I can’t do for myself?”. My response is always the same in that it always pays to have a professional look after your best interest.

Buying a home, or investment property is an expensive exercise and fraught with situations to make mistakes, if you get it wrong (and a lot of people do) it will cause you a lot of stress, take a lot of your time and will always cost you more money.

A good Advocate or Property Advisor will save you time, manage the emotions of buying, remove the uncertainly and confusion of buying, and most importantly, negotiate you the lowest possible price when securing the property, in short they will save you time, stress and money!

Vendors engage Real Estate agents to secure them the highest possible price, and Real Estate agents are very good at what they do, so it makes sense to engage a Buyers Advocate and industry professional to represent you.

The Advocacy sector is a fairly new industry and there are more Advocates appearing than ever before, so it pays to do your research before engaging one, and these are the key questions you should be asking;


  1. Do you own property yourself?
    There are a lot of advocates that have never bought property for themselves, would you feel comfortable with an Advocate that doesn’t know what it like to have the experience first-hand? (Neither would I).
  2. Are you Independent?
    There are Advocates that receive commissions from other industry players (builders, developers, agents, brokers) and this can influence the level of advice they provide.
  3. Are you licenced?
    Advocates should to be licenced with Consumer Affairs to do what they do, if they are not licensed, do not engage them!
  4. Is your fee negotiable?
    Most advocates are Fee for Service, and may offer either a flat fee, agreed fee or a percentage fee – Either way, if they are licenced, their fee (by law) is negotiable.

Whether it’s your first home, you’re a seasoned, or new investor, you’re upsizing or downsizing, your Advocate should act as an independent consultant with no third party connections, and offer you expert and trusted opinion and peace of mind when purchasing.

For more information on Buyers Advocates and how one might be able to assist you with advice and securing property, click here, or contact


(m) 0417 546 539


Ray Becher is Principal and Founder of Reimund Property Advisory. After 20 years negotiating and managing strategic partnerships for some of Australia’s most reputable and blue chip companies, Ray blends his corporate expertise with his passion for finding and negotiating the purchase of the perfect property for every one of his clients. A third generation property developer and investor, Ray has been involved with property acquisition and development his whole life. He is a licenced Real Estate Agent and Auctioneer.


This information is of a general nature only and does not constitute professional advice. You should always seek professional advice in relation to your particular circumstances.

7 Reasons to take the plunge and become a home owner

Mortgage can be a dirty word for anyone that doesn’t have one. It conjures up images of baked beans for dinner, never being able to go out and being enslaved to a 30 year financial commitment with a faceless big bank. But for most people it will eventually be something they consider.


So why would you take the plunge and take on the commitment it involves and get a place that it is all yours?


1) No more landlords

When you become the king of your castle, there goes the rental inspections and the need to have a landlord or agent approve the inevitable maintenance that all property requires. If your shower is leaking, you can get over to Bunnings yourself and pick up a few spanners to fix it. The downside is of course you are paying for it! (More on that later). On the upside, you have a new level of control that you just don’t get when renting.


2) You can hammer picture hooks into the wall

Speaking of control, once you buy your own place, you don’t need someone else’s permission to change things. Want to paint the walls? Get rid of those annoying tiles? Rip up that carpet? You can go for it. Did we mention Bunnings? Before you know it you will watching all those annoying home renovation shows looking for ideas.


3) Capital growth

Most people buy property in the hope that it will increase in value. Rent may be less than the cost of interest and the other costs you have as a home owner (rates, maintenance and so on), however once you factor in the capital growth, or increase in value of the property over time, that capital growth may make buying the best option financially over time.


4) To get a foot into the market at today’s value

Say you are interested in buying property that is selling around the $800,000 mark. If this type of property, in the suburb you are looking at is growing at 5% a year, it’s going up by a whopping $40,000 per year (which you probably already know if you’ve been looking around). It’s pretty hard to save $40,000 in a year when you are also paying rent, which is why you always hear people talking about ‘getting a foot in the market’. If you were to jump into the market this year, it might be easier than trying to keep up with the rising cost of the type of property you eventually want to buy. Of course though on the flip side, this is only true if values continue to rise the way they have.


5) Forced savings

OK now it is starting to sound like financial enslavement! Hear us out though. Having a mortgage is a financial commitment which forces you to save by paying off your home loan. That can be handy if you tend to, like most people, spend money when it is there. Having to pay off a mortgage each month can make sure that you are building towards having equity in an asset (your property) and you don’t get 10 years down the track and have nothing to show for all your hard work (apart from some awesome memories of that great trip to Europe of course).


6) You lock in your costs

When you are renting you will usually be given an annual increase in rent. Or if you decide to move you will be out in the market trying to a) find something b) possibly convince an agent you have the best application and c) be paying an amount that creeps up over time as the cost of property does (or demand outstrips supply). Once you buy your house you lock in the amount of your loan and your base cost from then on. It is dependent on interest rates – however the idea is to pay off principal and interest and have your costs go down over time (the more of your property you own) – not up (like your rent will).


7) It’s not usually as bad as you think

If in doubt, ask someone you know that has bought property. After some initial shock, they usually settle in to having a mortgage as a normal way of life. As daunting as it all sounds, the upside of owning your own place should (hopefully!) make up for what you might be thinking of as the downside.


So if getting yourself a property might be something you are after, take a look at some of these other great articles*, or get in touch and we’ll help you get started down the path.


For specialist lending advice, you can contact Doug at (e) or (m)  0408 671 524.

Douglas Piening is a Mortgage and Finance Broker with Choice Home Loans and is passionate about providing clients with lending advice they can trust. Whether it’s re-financing an existing property, buying a new or next home, or investing, he brings a wealth of knowledge and expertise to assisting clients with their lending needs. 

Want to hear what clients have said about working with Doug? Take a look at these reviews from LinkedIn and Facebook.


*Other articles and links for First Home Buyers:

10 Tips for First Home Buyers

Moneysmart Guide for First Home Buyers

Navigating your way to your first home loan


This information is of a general nature only and does not constitute professional advice. You should always seek professional advice in relation to your particular circumstances.


How Much Can I Borrow?

This is often the first question that a client will ask before they even think about buying a new property, and many are surprised at the answer they get. Different lenders have different policies with regard to the maximum borrowing they will offer but there are some basic principles that remain constant throughout.

Borrowing capacity is determined by several factors:

  1. Eligible Income

Eligible income may include income from primary work, income from investments, income from Government benefits or a combination of the above. In some cases, Lenders will require that employment has been for a certain period of time, and they may not accept some types of income. Your Broker will navigate the maze of what is ‘eligible income’ for you.

  1. Living Expenses

Living expenses are generally calculated as the higher of your declared living expenses or a minimum benchmark set by the Lenders. The Henderson Poverty Index is one measure which has been used as a benchmark minimum. As a guide for a single person, the applied living expense ranges from just over $1,000 per month up to over $1,700 per month. Couples range from around $1,800 per month up to around $2,700 and each dependent can be from around $153 up to over $500 per month. This variation goes a long way to explaining why some borrowers may be eligible with one lender but not another.

  1. Other Commitments

Existing credit commitments will reduce the amount that someone is able to borrow. For example, if you have a car loan, personal loan or another property loan, the repayments on these will reduce the amount of additional finance available. If you have Credit Cards, the total limit (regardless of whether you pay them off in full) will impact the amount that you can borrow. As a guide the monthly commitment for a credit card is equal to around 3% of the total limit – for example if you have Credit Cards with a limit of $20,000 this equates to a commitment of $600 per month (3% x $20,000)

Once income, living expenses and other commitments are ascertained the borrower will hopefully have an amount of surplus money available each month – this amount is then used to calculate the maximum repayment possible and by extension the maximum loan amount.

The lender will apply a rate of interest that is higher than the current rates available – this provides a safety net or buffer in the event of rising interest rates. For example, whilst most Standard Variable Rates are around 5% at present, the Assessment Rates (or implied rates for this purpose) are between 7% and 8% in most cases.

Lender calculators can be useful, but should only used as an approximate guide. Your specific circumstances and the lenders policies will determine exactly how much you can borrow.

If it all sounds a bit complex, don’t worry your Mortgage Broker will help!


Need any information on Home Loan Options?

telephone  Contact Doug on (m) 0408 671 524 or (e)


This information is of a general nature only and does not constitute professional advice. You should always seek professional advice in relation to your particular circumstances.




What you need to know if you ‘buy before you sell’

It happens all the time. You finally find that great next home you have been desperately looking for and you want to make an offer, like now, before you have sold your existing home. You can just picture yourself relaxing out on that back deck with a wine or two – it’s going to be great!

But what if you don’t settle on your existing property before the new place does and you need lender finance to tide you over? Enter the need for a Bridging Finance.


What exactly is a Bridging Loan?

Many people don’t understand what bridging loans are until it is too late. It’s best to understand what they are before you ‘buy before you sell’.

As the name implies a Bridging Loan provides a bridge between two loans, whereby for a period of time there will effectively be two loans to cover the purchase of a new property before settlement on the old property has occurred. The lender takes security over both properties and lends against them until the sale and purchase process on both has been completed.


How do they work?

There are a few (scary sounding!) terms when it comes to Bridging loans.


Peak Debt – this is the anticipated highest debt amount which includes your existing mortgage, new purchase costs and anticipated interest costs that accrue over the life of the Bridging.

End Debt – this is the anticipated debt level following the sale and settlement of the original property. This in effect is your new mortgage amount.

Capitalised Interest – interest is accrued and added to the loan balance during the period of Bridging


Example: May-Ann & Ben have purchased a property for $1.3m (including purchase costs). They still have $400,000 owing on their current property which they estimate will sell for $1m. In this case their “peak debt” begins at $1.7m.


Bridging loans are interest-only, so during the bridging period of say, six months, interest will be compounded monthly on your ongoing balance at the standard variable rate. The interest bill will then be added to the ongoing balance when you sell your house, and this amount becomes the mortgage on the new property.


May-Ann & Ben’s lender has a standard variable rate of 5.0% so over a period of 6 months their will incur interest of $42,500. As they are not paying any principal at this stage, this interest will be “capitalised” and added to their “peak debt” so it rises to $1.742m.


While the interest rates on bridging loans are now comparable with ordinary mortgages, don’t forget that you are still essentially carrying two mortgages, and during the bridging period you are not paying anything off. The longer you take to sell your existing home, the higher your interest bill, and hence your new mortgage, will be.


May-Ann & Ben sell their house and achieve a sale price of $970,000 (after agent costs). The loan is then reduced by that amount to $772,500 which becomes the “End Debt”.


Some lenders require a client to be able to service the loan at Peak Debt, meaning they have to have a lot of surplus funds every month, whilst others allow servicing on End Debt alone.

So what are the Pros and Cons of Buying before you sell and Bridging Finance?

It’s best to chat to your Mortgage Broker to weigh up the pros and cons for your particular circumstance, but generally speaking;


The Pros

  • You get to secure the next roof over your head (and that awesome deck!) before you sell the old one
  • It reduces the rush and stress of trying to match up two settlement dates exactly, or leaving you with no-where to live for an unknown period
  • With finance secured you may feel like you are in a better bargaining position when selling your existing home
  • Bridging Loans are now comparable to standard variable rates
  • With interest only Bridging Loans, you aren’t required to pay the interest at the time, it is added to your loan amount at the end of the bridging period.


The Cons

  • There is a pretty hefty cost involved during a Bridging Loan Period
  • For every $100,000 in additional costs you take on, you are paying an additional $416 a month on top of your existing loan. So if you buy a $1m house, that’s an additional $4,160 a month, every month while the Bridging Loan is in place
  • There are likely to be loan establishment costs
  • Different lenders have different requirements for Bridging Loans, many lenders will require you to be able to afford to pay the ‘peak debt’ amount, something that is out of reach for most people.
  • It’s fair to say lenders don’t like doing Bridging Loans as it is a lot of work for a short period of time, so they don’t always make it easy! Once again your broker can help you work out which lender options will work for you if you are Bridging.


And finally a small cautionary tale. Lenders also have minimum time frames for Bridging Loans. A recent client of mine had a 3 day period between the purchase of their new home and the sale of their existing one. There is no lender that will be able to execute a change of title and settlement of loan within that time period. Most banks will insist on a minimum 2 week Bridging Loan period.


So to Bridge or not to Bridge?

In most cases you are better off looking to sell and settle on an existing property before purchasing a new one, or line the settlements up to be on the exact same day. But real life (and buying property!) can get in the way of this. So if you are thinking about buying before you sell, or you have bought before you have sold get in touch to chat through your Bridging Loan options.



Thinking of buying before you sell?

telephone Call Douglas today on 0408 671 524


This information is of a general nature only and does not constitute professional advice. You should always seek professional advice in relation to your particular circumstances.

Case Study: Investing in property

Craig works as a Brand Manager at Lion Dairy and Drinks and I recently worked with him to gain pre approval for the purchase of his second investment property.

I asked him if he could share his experiences with investing in property.


Tell us a bit about your first investment property?

I purchased my first investment property in June 2014 in Frankston for $361k. Since then the property has been rented out to a reliable tenant and giving me regular cash flow.

The property is negatively geared but the shortfall is only around $100 per week (less after tax!) and I’m hoping 5 years down the track it’ll be paying for itself.

Since I bought the property I’d estimate it’s gone up in value by $30-40k, Frankston had a great growth spurt in the first quarter of this year.


Tell us about why you are looking at a second investment property?

I see property as a great vehicle for wealth creation.  It has potentially great returns for (relatively) low risk.  You just need to choose well and do your research!

This time the circumstances are a bit different as I’m looking to find a property that is in need of renovation and I’m planning to do the renovation myself.

I’m looking at older houses that I can modernise and add value to which I’ll either sell or rent.


How did you choose the type of investment property and the suburb it’s in?

I’d read a lot about Frankston being a potential future hotspot and the median value is still quite low, so it’s affordable to buy into.  There is a bit of a stigma around the suburb but it’s slowly gentrifying, the local council is pouring money into infrastructure and of course it’s beachside!

I’m looking at buying my second property in Reservoir as it’s an area that’s growing in value and one where older style houses that are renovated are in demand and fetching a premium to those that aren’t renovated.

My preference is to buy houses with a land component which in the long run will appreciate in value and can give you options down the track to subdivide / develop.


Do you have any advice for other property investors?

Be careful about fixed rates! I fixed my rates in for 3 years at 5.14% with Bankwest. At the time it was a great deal and it gave me certainty over repayments, but it has reduced my flexibility to change and of course rates have gone down.

In all seriousness though, investing in property has has worked really well for me so far and I’m looking to build my portfolio slowly over time.  But how bigger portfolio only time will tell!

I guess though it depends on your particular circumstances, but of course you need to take action to start building wealth and not get in the trap of suffering from analysis paralysis!


A big thanks to Craig for sharing his experiences.


Interested in Property Investing and want to discuss finance?

telephone Call Douglas today on 0408 671 524


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