Hi Steve & All,
We have had experience with three financial planners in just over three years.
One crunched the figures and got us into a negative geared property at Coomera that is only now starting to go ok. Didn’t research for ourselves.
The next one (18 months ago) said they could manage our affairs for round $8000, but that we were not in a…[Read more]

Hi Wilandel, have used QS reports, under $300 in our area, Hunter Valley, well worth it. Daughter in Sydney had not used one previously, had it done by Depro and received an extra tax cheque. Anna

Hello Dafeldz, it’s good that you’re wanting to invest early. Our daughter purchased at 21, now 27 and has 2 properties. Re the regional areas, we purchased in north Qld, end of last year, price range from $55000 to $60,000. Rents are $120pw to $135pw. Found them via the net. One was only 5% deposit so you don’t need a lot to start.
Also we went…[Read more]

Hi Graham, we have the same problem. Our accountant is not into property investment and our daughter actually got a further considerable tax refund this year after changing accountants to one in Sydney where she lives. She has a couple of properties there.

Does anyone have a good accountant in the Newcastle/Maitland area? Would appreciate info.
Anna

Hi Rick & Partner, we have purchased a mixture of houses and units, all at the lower end of the price scale. All have increased substantially (just been revalued) in 18 months and a number of units purchased since November have 10% returns & put money in the bank each month.

I check the real estate sites almost every day so I can keep up with…[Read more]

Hi Kate & Rich, we were told by a couple of agents that air con would add $15-20 per week in rental on one of our existing properties in Qld. It is a townhouse and we will be having a/c installed soon, split system. Keeps the tenants happy.I guess it may depend on where your property is, whether you put in split system, or just cooling. Good luck…[Read more]

Willie, what a fantastic age to be starting. Go for it, keep learning, read all you can and you will probably be retired well and truly by the time you are 40, if you want to be. Anna

Hello hwdoo7, yes, your first payment is due a month after you settle, eg we settled on a property 16/1, first payment was 16/2, and then 16th each month.. Sounds like maybe you are buying a -cash flow property and need the tax variation quickly. Is it an I/O loan, when your monthly payments would be a little less than P & I. Also I guess you…[Read more]

Hi Trying,
We have properties in the Cairns area. Email me at anitaworth@bigpond.com if you like and I’m happy to tell you about our properties which are all going well and maybe some other helpful info.
Anna2

Hi Young Gun, we renovated prior to settlement. It was a deceased estate which we stripped out of carpet, painted, polished floors, new second hand kitchen, bathroom and laundry, cleaned yard. Had an excellent agent who liaised with the vendor. We also replaced a timber floor in one of the bedrooms as Aussie would not settle until this had been…[Read more]

Hi Matduqua, just a suggestion, but you could check on eg. websites like realestate.com and domain for comparitive house/rent prices. Also ring agents for info. I have found most of them are helpful and I still do research on areas I am interested in. Destiny Financial Solutions also had pos. cash flow properties in Cairns, less $, looked ok.…[Read more]

Hi Geoff, don’t know a formula, but when we purchased, with a fair bit of tidying up, internal repainting, fencing, some kitchen reno, we had gained $75k in 18 months. Valuer came today, asked what had been done since last time (this is for same lender) and we could add air conditioning, further painting, more reno to the kitchen, new…[Read more]

Hi Robert, one suggestion – don’t purchase a property after attending an investment seminar. Do thorough research and don’t believe what you hear. We did but have purchased several IP positive cash flows and so thankfully turned the tide so to speak, at least balanced the loss. I agree with Mitch – we got a lot of negatives, eg. you’re game, I…[Read more]

Harry, why not purchase a positive cash flow property between you if you want to help out? Find something in a less expensive price range for a start. Our daughter has an IP in Sydney and her own unit, and we recently purchased a 10% return property in her name and ours. Do a bit of research and see what you can find. Our sons both have bought…[Read more]

APIM, we have also purchased a system which I will set up soon but in the meantime I have used one of those plastic ring files for each property, with dividers for each section, eg, purchase/settlement, property management, expenses, lender, strata,BC,general. I also have a page where I note down any time I have to contact someone re the property,…[Read more]

I’m new to this forum and have found this discussion really interesting so thought I would post my thoughts.

In the last few years we have bought 7 properties, the worst is a 5% return. Since that mistake (for us because we did not do enough research) we have purchased 6 cash flow positive, in price from $55,000 to $130,000. eg. one at…[Read more]