G’day Brenda,

Great to see you post on the forum. I read your 2 part story in API – very informative and inspirational.

Looking forward to reading more of your posts….

Cheers,

Battz

Bruce I couldn’t agree more. There was a day when a picture said a thousand words, but now thanks to Photoshop a picture can say anything you want it to![:p]

Cheers,

Battz

A couple of examples I came across during a buying trip I had late last year…

1. Property was actually on the main highway (which was also a road train route[!]) but that section of the Highway was renamed, so unless you were a local you’d have no idea.

2. Property was neighbouring a railway line and directly opposite a rail freight terminal.[V]

Now the problem with these examples is even if i had done all my inspections: pest/electrical/building and even if I’d had commissioned my own independant valuations, there is a good chance the I would not have know that they were on railway lines/major highways.

And do you think the agents in either example offered that information?

If I trusted someone in the are to “check out the area” to give you a general overview, then that would be a different story…

Cheers, Battz

G’day Strider,

I purchased a highset Queenslander in regional Queensland late last year. Similar sort of numbers to the one you are looking at. Paid $88k for it and renting for $160p/w. The property was revalued day after settlement for $100k.

I was attracted to this property for several reasons.

1. I knew i was buying below market value
2. Qld’ers tend to be very popular, and easy to resell
3. Returns were good
4. Had the possibility to convert to a 4 bedroom (would cost as little as $1000 to do)& if I add a/c it will return over $200p/w
5. This property had great street appeal, and while some say not to get emotionally attached to IP’s, I believe that tennants DO get emotionally attached to houses they live in. Therefor if it looks like a desirable place to live, you will always get tennants.

Of course the downside to old Qld’ers is they can be high maintenance. This particular one has had lots of $$$ recently spent on it, which made the decision easier.

Capital growth in this area was 12% over last 12months, but i dont expect this to continue, but i do expect steady CG due to strong and expanding jobs.

If you have any other questions please feel free to email me

mark at supermotard.net.au

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Thanks Leigh,

Its great to hear stories of actual deals. I will certainly be looking at this option in the future as it looks like a great way to expand your property portfolio with limited cash – provided you can service the debts.

I can see this becoming even for effective in a “down” market where vendors are more motivated an would be more receptive to creative offers. I’ve heard its a little for common with commercial deals, but not so much with residential.

To coin a “McKnight phrase” it can sertain create “win-win” situation.

Thanks to those whom have responded –

Cheers,
battz

I hadn’t thought of this application with “off the plan”, would that be a possible option?

I went to Dolfs Brissy 3hr seminar on Saturday. ANd yes I agree with comments here that he basically covers what is in Real Estate Riches.

In saying that just to hear the man live is impressive. ANd he does challenge your “old ways” of thinking. He is very motivating, and that alone is worth $60.

He also discusses his current project in Vegas, where he has bought 52 properties in 10months using a clever/risky strategy.

All in all im a Dolf fan and have enjoyed his book and hearing him speak.

Cheers,

Battz

Taylah,

Drop me an email vmax at bigpond.net.au

Cheers,

Battz

G’day Helen, (no dont ask me why Im replying at this silly time of the morning [|)])

I bought my first IP 4 weeks ago, Steve’s book provided great inspiration. I have been researching property for a couple of years now, but only seriously for the past 3 months or so.

Unfortunately limited funds has reduced the amount properties I can buy, but as they say the strong tree grows slow.(but I wish it would grow like a weed!)

Once I’d done the research I went out to a country Qld town and looked at 50+ houses in 3 days and submitted 10 or so offers to buy one IP. I bought my 2nd IP 2 weeks later after much negotiating.

I also intend to do some work now as a “buyers agent”, as it seems there are members of the forum whom are happy to pay for the service.

Good luck with it all Helen. I read a quote from Steve somewhere on the forum, something about “finding problems and then solving them”, that is the way to make a deal. Dolf De Roos calls it finding a “property with a twist”

Cheers,

Battz