As to profitability, your due diligence, and negotiating skills are what make most of your profit…also it is a poor person who is afraid of the taxman, my financial goal at the moment is to pay $120,000 PA in capital gains tax.Why not buy the messiest old house in the street tidy it up and sell it for a profit, you only pay tax on profit. WHY…[Read more]

Know your limits would have to be the rule here, Crashy…I said "faster and easier, to learn a lot of the tasks that tradies do, and practice on a small job to familiarise yourself with procedures, then do a better job because you can focus on the only job you are doing." By paying attention to detail, learning the proper methods and focussing on…[Read more]

I've got to say there are some really dodgy overpaid tradies out there. I found that it is faster and easier, to learn a lot of the tasks that tradies do, and practice on a small job to familiarise yourself with procedures, then do a better job because you can focus on the only job you are doing, whereas tradies often are scrambling to complete j…[Read more]

Something else nina, The plan I mentioned above will have you in your own home by christmas (a fantastic feeling), but also you should be able to get a better place if you go for trashed gardens, and a poor paint job. Both of these are easy to fix for cheap but also massively affect value. I let the garden go wild at my place for 6 months and got…[Read more]

Nina, I really feel for you…I started out by renting a caravan, nearer to my work. Then I drew up a budget and figured out what i could afford to pay off per week, I then drew a cirlce on a map of where i could live and get to work on time with having 1 hr a day to do renvation stuff. i then purchased a property on the edge of the circle for…[Read more]

Great topic!!Why can't you buy a house to live in if you pay $280 per week in rent?I just jumped on ratebusters (good calculators) and you can pay off a house that costs $180k1st home buyers grant takes out the deposit problem. Get a house that is run down for $160k. fix it up cheaply. redraw the sweat equity to purchase investment property.…[Read more]

By the way I still have the South Gippy property and will be extending, renovating, and retiring in about ten to twelve years…I'm 34…property works.

Hi, not a massive deal, but a nice story, I purchased a little house in south gippsland on half an acre for $60k ($1k more than asking price) 100km from CBD. I recieved the first home buyers grant, and used the money I had saved whilst living for a year in a caravan park, as the 20% deposit. My mortgage repayments at the time were fixed at $75…[Read more]

Great thread, very inspirational, just got married and we are looking at getting our first investment property for christmas.With all the hard work you are putting in listing the hours and costs, you are letting us get into property with our eyes wide open and not stumbling around in the dark. Nothing worse than taking on a project only to be…[Read more]

Keep in mind that a negatively geared property will not set you free from your wage/salary. Probably better to learn about easy cost effective renovations. Then follow a simple strategyStage 1 a. Buy, b. Renovate, c. Rent out , d. Sell for a 20-30% profit as a negatively geared investment opportunity.Stage 2repeat steps a-d two or three t…[Read more]