Well Salacious sometimes the best way to learn is to get burnt.

Keep in mind after the fact that most property is best suited for investing in longer timeframes

Cheers,

Aceyducey

This sounds rather dangerous to me.

Targetting teenagers – who are less experienced & in many cases more financially vulnerable.

I suggest that if you feel uncomfortable about their program at the free evening that you report them to ASIC & the state Fair Trading Commission for investigation.

If they’re sincere – great, an investigation will…[Read more]

I’m not the best networker around. In fact I don’t think I’m a particularly good natural networker. Because of that I’ve had to learn to do it the hard way (and still are).

Everyone can become better at networking.

IMHO the essence of networking is conscious (or active) communication. Communication where you are conscious of what the other…[Read more]

MadInvestor,

You are doing nothing wrong. You’re simply still on the (endless) learning curve.

However keep in mind what ‘budget properties’ actually means.

In future if you buy cheaper properties be prepared for significant maintenance costs. Ensure you get those building inspections done & ensure you have a maintenance budget factored into…[Read more]

Given we’ve done both, even a good PM is no match for a ‘good’ bad tenant.

Doing it yourself is no more risky because if need be you can ask an agent to locate the tenant for you, for a small fee (a week’s rent or so).

Best of both worlds…..that said, we’re locating our own tenants – just replaced two sets of ‘bad’ tenants located by a very…[Read more]

Gatsby,

I’m not advocating using buyers’ agents.

It’s the REAs, neighbours & friends who come & offer us the deals before they hit the market.

Frankly I see extremely limited value in buyers’ agents. Most people using them would be far better off making the time investment in their own future financial success, not trying to employ another type…[Read more]

Salacious,

I suggest you try to track down many of the people who bought off-the-plan in areas like Melbourne Docklands.

They’d certainly have a story to tell you about the huge capital gains you can make through buying off-the-plan.

Make sure you know the market VERY well when making this type of speculative investment. You’re not buying a…[Read more]

In a couple of our recent renos we looked at driveway replacement due to cracked & subsided concrete slabs.

On balance we left them as they were.

In manyc cases there is no additional value in replacing a driveway.

Of course, your situation may differ

Cheers,

Aceyducey

kaiah,

Are you the type of person who gets very excited about new things but looks for fast results or doesn’t carry through? Or are you prepared to roll up your sleeves & work extremely hard to get what you want?

If you’re the first type then property investing will be a challenge for you. Property investing is slow, boring, dirty work.

It can…[Read more]

Frankly I’m finding now that I’m getting to the point where the deals come looking for me.

Get the networks & knowledge in place.

Looking through papers & sites for property is what the other 90% do.

Cheers,

Aceyducey

Well if there is a shortage of rental properties you may be able to ‘corner’ the market.

However what actual value are you adding?

You’re simply leeching in the middle.

Cheers,

Aceyducey

Those ethical agents – give all the other Real Estate agents a bad name!

I alway enjoy seeing people rail about unethical agents, then discuss ways of wriggling out of legitimite agreements or coming up with unethical methods to bypass agents.

If we, as property buyers, expect ethical agents we have to behave ethically ourselves.

Cheers,

Aceyducey

Weeds grow through anything

So long as you lay it deep enough you shouldn’t have weed issues.

Plus a bit of weed killer now and then if any grab hold on the top.

Cheers,

Aceyducey

Here’s the most important secret about property investing…..

It’s not about the property. It’s not even about the type of property.

It’s about knowledge & networks.

Find an area you like. Get to know the agents & locals. Understand the market’s movements, history and prospects.

Then pick up the bargains as they appear.

Once you have the…[Read more]

Blue metal is fine.

Ensure you build a proper base & pack it down solid so you don’t get too much movement or sinkage.

Cheers,

Aceyducey

Try Cosmos by Carl Sagan and Chaos by James Gleick, and The Last Three Minutes by Paul Davies for a sense of perspective.

The Seven Habits of Highly Effective People is very good, as is Everything I needed to Know I learnt in Kindergarten.

THick Face, Black Heart is also good reading for all investors.

The Tao of Pooh and the Te of Piglet are…[Read more]

Originally posted by lifeX:
I had a tenant who was doing extra garden work and free painting in my property, so i bought him a slab of beer. (bottle shop had a deal on 30packs at the time)

Anyway, tenant got real boozey and violent. Attacked, abused and threatened other tenants and was given an immediate notice to vacate a week…[Read more]

Aussie,

The book sounds quite logical to me.

And yes the trick is in being able to fit yourself in consciously.

It’s what very very good sales people do. They are chameleons.

Cheers,

Aceyducey

Originally posted by Still in School:
big quick returns or slow compounding returns…?

SIS,

This reeks a little of ‘get rich quick!!!’ or ‘get rich slow’.

I prefer to look at the risk factors instead…..

What level of risk does the strategy ebtail – are you willing to take that level of risk?

Personally the more I invest the more I find…[Read more]

OK, the flatpacks I’ve put in have cost around 1/3-1/4 the cost of a designer kitchen.

But the cheapest kitchens I’ve put in have come from auctions. Though I generally buy before the auction if possible.

Cheers,

Aceyducey