Hi

I’m still not sure whether there is no lease or a periodic lease (month by month). In any case, i think your first step is still to get a fixed term lease in place with your proposed rental amount built in (ie $20pw); but I’d get your real estate agent to ‘suggest’ in writing that the amount is appropriate after an inspection. With the…[Read more]

Hi

Considering all of the work you’ve done, have you adequately protected your property with a good landlords insurance policy with all the proper components. With this in place, you could then proceed to put in place a proper tenancy agreement. These two small moves should put you in a more ‘commanding’ position.

Cheers

Gary
author of…[Read more]

Hi Guys

I’m young (at heart). I posted on this thread a couple of weeks back that unless someone takes the “lead”, this will not be anything except a good idea. Looks like we still have the same issue.

I’m an experienced property investor, author and creator of a business tool for property investment.

I occasionally visit various States.

I…[Read more]

Hi Foundation

I was providing a perspective on an investment in the student accomodation property, as entry into the property market appears to be the aim here.

However, I agree there are many alternatives providing better CF (with different risks, etc.). Despite better returns, sometimes people feel more secure with bricks &…[Read more]

Hi

Sometimes the CG issue can be less important to an entry level investor. Let’s look at this slightly differently, and think about CG being a phenomenon of the times.

Banks reluctant to lend because of the size, saturation of units, and there is very little CG. Because of the tight lending arrangements, there is less demand. Less demand…[Read more]

Hi Colin

As discussed the 2/8 is out for me, I’ll have to try to catch up some other time. Thanks for the invite.

Anyone in Bris at the Expo – drop in and say hello.[biggrin]

Gary
Author of “Property Millionaire: The Guidebook to Having Great Australian Dreams”
Creator of “Property Millionaire – The Boardgame”
http://www.888abundance.com

Hi QL

Pretty broad question and the answers are just as many based on straight mortgage, wraps, finance solutions, etc.

If we just stick to the basics:-

1. Calculate the cost of finance (eg standard mortgage loan might be around 7%).

2. Compare this with a simple rental yield calculation:

(Rent pw x No. of weeks occupancy)/Purchase Price =…[Read more]

Hi Niki

it’s not a bad option, if you can do it comfortably, and you’re looking at as the one & only IP for awhile. I’m basing this on a lower rental yield which would impact your serviceability.

If you’re plan was to get into IP and develop a portfolio, I would look at getting an IP in regional centre with higher postive cashflow first, and…[Read more]

Hi Steve

Why are you going into it with 3 friends. is it the high cost of the property? looking to share the risk?

You might have good intentions at the beginning, but will you still be friends afterwards (and it would be a shame to lose a friend over money). People’s circs change. You would have to have some legal agreement agreed upfront…[Read more]

Hi Sar

There’s the usual ones:-

1. realestate.com.au, Domain
2. Try most of the brand name RE agencies (eg LJ Hooker, Professionals, Raine & Horne, First National, etc.

Get a hold of Australian Property Investor magazine and read a few articles for some contemporary info.

Starting with a simple plan is good. I’d map it over 5 years to get a…[Read more]

Looks like lots of interest for a great idea. But is that what’s it’s destined to be – just an idea that goes no where.

One of you probably needs to coordinate a “group” and start your own ‘membership’ around the country where you can stay in touch with each other, exchange info and compare notes on resources (good books, tools, etc.) and…[Read more]

I think Simon has provided you a hint.

You’ve done well so far with your IP?

The question is:
1. What’s happened now to make you want to make changes?
2. What’s your long term plan?

For example, if it was to get another IP, and continue accumulating IPs, then the few things you suggested should probably be part of your refinance…[Read more]

Hi Rossco

You’ve posted some pretty big open questions. Reading is a good place to start. My book (see title below or go to my website) was written for average guys starting out (i.e. entry level investors) but there are lots of good books out there.

It sounds like you’re in Sydney. For the prices you’re looking at, you should do some…[Read more]

Hi Niki

The fact you currently enjoy (renting) a 3 bedroom place near the beach now doesn’t seem to agree with a long term move to a one bedroom/studio in 10 years time. I think you need to decide first where you want to be in 10 years time in terms of lifestyle, finance, wealth, etc. Then having decided that, investing in any location…[Read more]