At the moment you can get a 3 phone and pay $99/month
for upto $500 calls. If only their phones weren’t such
bricks.

andy

You can still find some cheap properties in East/South
Geelong. They’re close to the city but some of that
area is industrial hence it’s cheaper than West Geelong.

Try to find something close to South Geelong station,
it’s a commuter city these days and being close to the
station you will capitalise on this in future.

andy

Normally tenants would pay the outgoings, check over the
lease to see what their responsibilities are.

Things that commercial tenants should be paying:

* insurance
* council rates
* water rates
* land tax if tenant is a public company

andy

Does anyone have a link to the newsletter archives,
I don’t seem to be receiving the newsletter anymore
and I can’t find the archives on the pi.com www
site.

andy

Don’t forget, with your own house the rules regarding
landlords & tenants change somewhat in your favour.

I am not a laywer but last time I read the guidebook
I was surprised to see that you can charge more bond
and can kick out tenants much easier if you are letting
out your own home (as opposed to an investment property.)

andy

Here’s a tip: generally, high yield dictates lower
capital growth. It’s all about personal strategy.
Many negatively geared properties are that way because
to some extent future CG is priced into the purchase.

Personally, I think that +CF is better when starting
but after a while $50 a week doesn’t affect your bottom
line much and that’s the…[Read more]

Hi Bill, good to hear you’re back.

andy

Replace all the power points and light switches before
selling and many people will assume that you’ve had the
house rewired.

andy

Sorry SIS, your HECS debt will be adjusted each year
to account for any rise/fall in the CPI.

andy

I was able to relet my property in one of the better areas of Geelong
in about 4 weeks in the middle of last year without increasing the rent
but my SIL sold hers in the next street and it sat vacant for almost 6
months.

When it was eventually let the gross return was 3.5%, not exactly earth
shattering stuff. Geelong has pretty much had its run…[Read more]

Actually the opposite is true, when property prices
are high the yields are low, when property is out
of favour less investors are entering the market,
hence less properties available for rent and by
the magic of supply and demand rents rise.

andy

Jim McKnight’s Ordinary Millionaires is a good read,
as is Jan Somers’ Building Wealth – Story by Story.

Both tell the stories of ordinary Australians making
a go of property.

andy

Hmm, focusing on why you can’t do something is
a sure way to prevent yourself from doing it.

Your problems seem to be quite managable compared
to someone who couldn’t use the telephone or the
internet, for instance.

andy

The author was trying to convey what type of
person that he was writing about. The book
is about “ordinary” people, all of different
persuasions, making a living from property
investment.

I thought the book was great, if only I could
find my copy….

andy

Yes you can get a refund of LMI when you refinance.
I did this earlier this year and got 30% back. I
probably should have received more but I was happy
to get anything.

You do have to ask for it though, and you may have
to mention the BIO in order to get what you want.

andy

Also lookout for negative nancies…

andy

Gray’s in Springvale have bi-weekly auctions
of all sorts of good appliances, bathrooms,
tiles & miscellaneous building supplies.

http://www.graysonline.com.au

Fowles Auctions have regular timber & carpet
auctions.

http://www.fowlescarpet.com.au
http://www.fowlestimber.com.au

andy

Tell it brother!!!

I’m with you on this Bill, putting my dough into shares and getting in a position to mop up the blood from the streets.

andy

Perhaps you could buy your new property in a
unit trust and have your super fund buy units
in the trust annually. This money would then
be applied by the trust to the outstanding
mortgage.

It sounds like you need a creative accountant.

andy

Yes, get it straight away, you don’t know what
insurance the vendors have and if something
happens they probably couldn’t force you to
settle as the property would have to be made
good but if you’re buying it then you obviously
want the property.

andy