We looked at the H/C area several years ago and could have purchased for round $80,000. Decided against it as the whole area was a bit untidy. Since then it has improved and prices have more than doubled, you couldn’t buy under about $200,000. But rents were never much good. There are still the untidy parts but a lot of homes look good and have…[Read more]

Noticed too. Time seems to go too fast these days, maybe people are busy, or the rush to buy and make decisions isn’t happening. We spent a lot longer working on a reno for sale than we planned so missed being on the forum, first grandchild born, new computer after problems, we are currently tidying up our property – lots to do, long hours. Loved…[Read more]

Depends on its condition. Does it need painting which can do wonders. New light fittings, door handles, bathroom fittings? Carpet, tiles? Maybe verticals, venetians, timber venetians. Think about what you need to do to gain value and get a good tenant. All the above can be inexpensive. even a new benchtop, cupboard doors, new vanity unit…[Read more]

I am always looking in the local areas and further and we will buy as soon as the sale of the last reno settles. We had a few delays but will be ready to buy again.

Anna

If you do a reno in 3-6 months time, what are you going to do with the property in the meantime – a short lease? Remember you have to give the tenant 60 days notice to vacate if that is the case. Material and labour costs may go up. It also depends if you can afford to leave it untenanted.

A few ifs, but if you have just purchased the property,…[Read more]

We have had a property manager for 3 years whose business is just that, their own property management business, with sales as an extra. The rent roll was up to 300. Worked there casually so kept an eye on things. Business has just been sold so we will wait and see how the new owners manage our houses.

Also heard of someone recently who was…[Read more]

Travelling up to Gympie last year, we saw a paddock of beautiful old Queenslanders waiting for homes.

Look in the yellow pages too, under house movers/relocation services and make a few enquiries.

We’ve looked at several houses for relocation, did our costings, etc. $20,000 seemed to be the price, that was not interstate of course. You have to…[Read more]

Don’t know about the ‘greedy’. Most people purchase with a purpose, that is for financial security and are in it for the long term. That is sensible and looking to the future. If you did your homework, bought wisely, have rents coming in, maybe a mix of +cf and -cf, I can’t see a problem.

Maybe there aren’t as many people looking (NSW?) but…[Read more]

We have four units purchased fully furnished and not holiday let which included furniture, whitegoods and window coverings, no TV, but have crockery and cutlery, jug, toaster, microwave, and came with a furniture inventory. (Quantity ssurveyor asked if they came furnished).We have a good property manager who checks the inventory when tenants…[Read more]

Sylvester, look on all the real estate sites on the net, drive a couple of hours away, pick up all the real estate booklets from the agencies, as well as the local newspapers, ring agents, research the areas, have your money ready so you can make an offer and exchange quickly.

Dismith, what fantastic work!!!

Anna

A combination of buy & holds, buy, renovate & sell, houses and units, I/O loans, +cf &-cf. We set our goals, planned strategies for maximum in short term,(12 months) achieved it, and now are resetting the goals and will be buying more. A couple of years of great learning, researching, listening, physical work in renos, reading and evaluating our…[Read more]

Hope they don’t fall out the window.. Seriously though, I don’t think I would ask a tenant to paint unless maybe they had suggested it but then there’s that insurance thing too – what if they did get hurt. Also you’d want to be sure of the removal of existing paint, puttying holes, correct type of paint, preparation, etc.

Anna

Jason, if you click onto the name of the agency advertising the property for sale, you can sometimes get their rental lists. Say you go to realestate.com, look at an area, then a property, the agent’s name is usually on the rh side. Have done this for different areas in the past, not yet for Tassis though.

Anna

Definitely contact the brokers on this site Sarah, they will put the figures together and explain it all. Lucifer has explained how your parents could probably buy several properties through using equity as a deposit. They could probably get a line of credit so the deposit is available as soon as they find a property.

We have a mix of positive…[Read more]

I’m sure in NSW a property is considered sold on exchange of contracts as until exchange, the agent can still show and sell the property – so they told us when we were a bit slow to exchange on a house a couple of years ago. They were really mean as we had paid the full 10% when we decided to purchase. Learnt a less there.

Your accountant would…[Read more]

Convenience for one thing. I don’t have the time at present to travel a distance to show the property we currently have listed, 45 minutes away, or to hold open houses. Got a reduction on the commission though and took all costs into account when purchasing to renovate and sell.

Lately though, I notice a few Private Sale signs on properties…[Read more]

You’d have to do homework on the local agents and I would want to go there and check them out as to what they offer for their commission. Most agents seem to have a property management brochure these days telling all about their (hopefully) management skills.

We have 5 interstate properties, all managed by the one agent who we trust. Two were…[Read more]

You sure do have to look at the returns. The $195,000 1120 acres is a few hours drive away, tenants would be limited as to who would want to live 36ks out of town, and the low rent takes into account the tenant would be sort of keeping an eye on things, or at least the property would be seen as being lived in/on. But also, it would be extra land…[Read more]

Marisa,

There is just no reason for you to have any contact with the tenant whatsoever as you pay your PM who should print off and check the incoming rents at least weekly. That is how they know to send out letters as soon as a tenant is behind. As Derek said, your tenant always seems to be 6 weeks behind, not 4, as he should be 2 weeks in…[Read more]

Sarah, it’s never too late to get into investment and your parents seem to have the capacity to purchase several properties with your father’s income and the equity in their PPoR. There’s no age discrimination. I would go through a broker. The brokers on this site are really helpful – maybe your parents could contact them for reassurance that they…[Read more]