Hi Adrian,

My advice is to start in your local area as it will be much easier to research, inspect and drive by any prospective properties, particularily if you have kids in tow!!

Look for an area that is growing in population, is undergoing redevelopment, has a history of good capital growth, has good transport/shopping/other infrastructure,…[Read more]

Most properties will be around 4-5% now but it is possible to get higher with some creative stategies.

The rental yields are usually published each quarter in the API magazine in the back section.

We generally use:

Rental yield
Low 0-5%
Med 6-8%
High 8%+

For vacancy rates
Low 0-3%
Med…[Read more]

Toowoomba is still relatively affordable however a large number of investors bought up late in 2006 which saw the market flooded with rentals. I’d suggest you consider Ipswich, which is currently undergoing massive redevelopment and has the added bonus of the electric train.

AmandaBS
http://www.propertydivas.com.au
FREE online Property…[Read more]

Hi Mattlach,

To be successful in property you really do need a good system in place and reading forms part of Step 3 in determining your investment strategy.

Step 1 Set your financial goals
Step 2 Prepare a Budget
Step 3 Determine an investment strategy
Step 4 Build your team
Step 5 Research
Step 6 Prepare a Feasibility…[Read more]

I’m with “kjs” on this one with a definate NO!! Money and friends/relatives just don’t mix.

This also turns the tables upside down on your relationship with your parents. They have always been the one’s to nuture and take care of you, and now they will have to answer to you each week and pay up rent $$$. You don’t need a crystal ball to see…[Read more]

Hi all Newbies, Inbetweenies & Oldbies,

There’s really only 7 simple steps to become successful in property.

Step 1. Set you financial & personal goals
Step 2 Prepare a budget and savings plan
Step 3 Determine you Investment Stragegy
Step 4 Build your “team”
Step 5 Research, Research & Research
Step 6 Prepare a Feasibility…[Read more]

Hi Small-time,

Well done for taking the time to calculate and understand the figures in advance.
I notice you’ve used 6% Closing costs for the deal, and I’m not sure what these are, but you should be allowing for Stamp Duty on the property, legal fees, stamp duty on the mortgage, loan application fees, and building & pest inspections.

We…[Read more]

Hi Sven,

Welcome to the exciting world of property investing!! You seem to be off to a good start however your ability to succeed will increase with a good system in place.

Here’s a simple 7 Step process to follow;
Step 1 Set your ultimate goals
Step 2 Prepare a budget
Step 3 Read and develop an investment strategy
Step 4 Build a strong team…[Read more]

Hi Ruroshin,

I must admit I’m not a big fan of such investment firms such as ARPP, fine if your a “Speculator” but for serious property investors you need your own system to suceed in this game. Don’t gamble and trust someone else who’s pocket will be lined by your hard earned dollar. $$$.

On a brighter note though, Richard Taylor also gets my…[Read more]

Hi Sweet,

Gary Seeto (author) started a new “Young @ Hearts Community” late last year and they have a Melbourne group that meets. The area Moderator is David Aitken who can be contacted via davida65@hotmail.com or check out the website at http://www.888abundance.com

Best wishes,

AmandaBS
http://www.propertydivas.com.au
FREE online Property…[Read more]

Hi Bsgupta,

Welcome to the exciting world of property investing!!

Here’s a simple 7 Step process to follow;
Step 1 Set your ultimate goals
Step 2 Prepare a budget
Step 3 Read and develop an investment strategy
Step 4 Build a strong team around you of property professionals
Step 5 Research an area
Step 6 Prepare a Feasibility study
Step 7…[Read more]

Thanks Dr Spock and happy new investing year to all on the forum!!

I’ve got some great things planned for our website in 2007 and look forward to sharing ideas with other likeminded positive people.

Best wishes to all,

AmandaBS
http://www.propertydivas.com.au
FREE online Property Resource

“It is better to be inconspicuously wealthy, than to…[Read more]

Hi Toowoomba1,

Sounds like you need the assistance of an Accountant to ensure everything is setup correctly.

Try dropping Ross Johnson an email at ross@guardianaccounting.com , he’s a fellow forum member here and has a new practice at Pittsworth, near Toowoomba.

Tell him Amanda from Property Divas referred…[Read more]

Hi Paybac,

There is more to finding the next “boom” area than a new link road. Certainly this will help in the long run. Major infrastructure improvements in an area when first announced can see prices move, but the biggest increase will come once the project is complete and people can see the benefits.

Look out for other signs such as a…[Read more]

Hi Readleaves,

You can download a “Property Purchase Budget Planner” template for free off http://www.propertydivas.com.au if you’re looking at purchasing a property soon.

Borrowing expenses such as LMI, stamp duty on a mortage, application fees and bank charges are all tax deductible over a period of 5 years assuming it is going to be rented.

For…[Read more]

Hi Aslam,

What a brave person you are, certainly everyone has lots of opinions. From my point of view for most people their home is their largest single asset so when it comes time to sell you need to select a Real Estate Agent carefully.

Firstly you need to feel confident about the agent and this can be determined by asking the following…[Read more]

Hi Daff,

Actually there is already another live thread about this topic on research websites. I’m not sure of the website you’re referring to but you may find http://www.propertydivas.com.au a good sources for downloadable templates, checklists and also has a good list of useful links.

Amanda
“It is better to be inconspicuously wealthy, than to be…[Read more]

Its often very overwhelming when you first start out looking at property. Have a look at http://www.propertydivas.com.au where you’ll find a simple 7 step process to get you started in property. The site also contains heaps of free downloads, templates and resource lists.

Best wishes,

Amanda
“It is better to be inconspicuously wealthy, than to be…[Read more]

Hi Daniel,

A website that will help you to get started in property is:
http://www.propertydivas.com.au

Its a “one-stop” education resource website thats packed with heaps of articles, templates and spreadsheets that you can download for free.

You’ll also find a list of Finance Brokers that will be able to help sort out your borrowing capacity.

Best…[Read more]

Yes, we purchased a property on Xmas eve last year at a significant discount. The property had been listed for some time and had already had a contract fall over so the vendour just wanted it sold. He told the agent that he just wanted to sit down to Xmas lunch to celebrate and enjoy the day, and not have to worry about the unknown.

On the…[Read more]