On making enquiries from management of one of these retirement villages, I was virtually told that a tenant needs to have enough money to be able to support themselves before they consider going in as they are left with little of their pension. So personal funds would be needed for outings, clothes, holidays, etc.

Anna

Mysta,
Have been looking at 1200 acres for $195,000 with house. Were told it would rent at about $150pw. We would agree that the tenant has use of the land, can run a few cattle, but also keep an eye on the place as sort of caretaker as there can be vandalism and cattle duffing. You would have to be sure there was water, either creeks or dams,…[Read more]

Wrappack,

Just a few thoughts. As population increases in an area, sewerage is generally on the agenda, but takes years in planning. We’ve lived in rural areas for over 20 years, always on septic with never a problem. I think people just have to learn to take care with water usage and disposal of waste, as if they’re on septic or envirocycle…[Read more]

Everdine, Lamipanel sells by the sheet and looks like tiles. Friends have just done their bathroom with it and are happy with the result. There is usually information and samples of the different patterns displayed in hardware stores.

KiwiZena, to renovations – we have completely stripped out 3 places, two houses and a unit, as they were quite…[Read more]

A happy and safe Easter to all.

As of 2 days ago I have a new computer following a few months of problems, plus our unit reno is completed and went on the market (in NSW) a few days before the Carr disaster.

And Redwing – YES – chocolate must be good for pregnant ladies. VERY RELAXING. Our daughter-in-law was at her girlfriends house a month…[Read more]

Maybe it has a Great Water Feature.

Anna

Sold one unit SEQ which had gone up in four years but return not good enough.

Like Pisces said we kept the loan account open by not paying out the loan completely therefore L/C money is available.

Anna

Twilight, Just thought I’d add this, I emailed you earlier today with details for Cairns, for solicitor and pest & building inspection which we’ve used successfully. I’ve had a problem with my computer and email this morning but am hoping you got the reply.

Anna

Contact Dept Fair Trading for sure, that is all so unreasonable.

The property manager photocopies all the keys, house, garage, letterbox, security door, etc. and that is kept in the owner’s property file so they can be accounted for/checked when the tenant is moving out and returns the keys. They need keys for a routine inspection when it’s due…[Read more]

You are wise to check out different REAs. I also think that is a reasonable rate, but then you might want to negotiate with the one you choose. Be aware of what the managing agent will be doing for you, that is what you are paying them for. Ask about such things as –

-sending you a monthly or mid-month statement (we get a mid-month on one house…[Read more]

I also think there are many ways to get ahead. I believe setting a goal is the first thing and working out some strategies which is what we did.

On another post today I mentioned a not so good investment and a couple of lousy financial planners. Three years ago we had our own acreage property and the above investment, were told we couldn’t do…[Read more]

Beerboy,

One big insult, makes me angry to hear it.

About three years ago, we visited a financial planner in Maitland. The business had just started. We had made an investment a year before that wasn’t going well. Anyway this ‘clever establishing my business know all’ did all our figures for about $450 odd and told us we should be bankrupt and…[Read more]

Brandon,

I’m really sorry that this has happened to you when you have almost achieved a goal. I know credit cards are hard to pay off, but maybe this would be a short term option, to get a cash advance on your credit card if you have one. A personal loan for $5/6000 may be another. You seem to be able to save well so could pay either off…[Read more]

Bit of a late reply, but maybe she could look at the listings on http://www.onsitedirect on the Gold Coast if she wants to purchase and doesn’t have the time as you said. We recently sold a property through them, having been referred by our onsite manager and found them fast, efficient and professional.

Anna

Hi Redwing,

Re the holiday unit, is it let through an agent or does it have on site management?

We were thinking of selling a 2BR holiday unit with on site managers but have decided against it, one reason being that the manager buys the management rights at considerable cost and it is his business so he is prepared to put in a lot of time and…[Read more]

Hi Julian,

Our best house purchase
2001
$80,000
Buy & hold
$170pw rent
10% deposit
Value $220,000

Two others 2002, for $129,500 and $130,000
Both buy & hold
Rents $220pw & $190pw
100% borrow
Value $230,000 % $220,000

Several units bought this year, purchase prices $55,000-$60,000, rents $120-$135pw f/furnished.

Anna

Hi, NETWORKING – is getting together with like-minded people to brainstorm, talk about strategies, share information, set goals and generally support each other, to achieve a common goal – as in this case, successful investing.

Anna

We are just back from FNQ having looked at the five units we bought there in the last year. Two of them, the first and last were bought through the internet, sight unseen.

With the first property, I made an offer to the listing agent over the phone, after having researched and spoken with several agents, probably a dozen. Photos and other…[Read more]

Richmond Hi,

I think maybe not mainly the Sydney market as prices have soared in the large regional area where we live. About 16 months ago we settled on two houses which have both increased in value by $90000 and it puts it out of the reach of the first home owners. Same in all the towns an hour or two away. Unheard of up this way – units and…[Read more]

Kay,

I went to an auction recently where the house did not attract one bid, but the vendors were happy to accept their reserve. Had I not had L/C tied up in buying something else I would have offered their reserve price, but also would have been prepared to come up a bit. I’m always after a bargain, but most places purchased this year have been…[Read more]