Thanks for the input everyone. Looking forward to returning the favor.
BB[]

Hi Pinky
Being a renter is actually a cheaper option financially. This way you can put your money into investment properties and get some tax advantages which you wouldn’t get if you were owner occupier My thinking is the longer you wait to do something the longer it will take to reach your goals. Saying this though I’m not suggesting you rush out…[Read more]

That depends if the market will tolerate it or not. If your concerned about rate increae why not put a portion or all of your mortgage on a fixed interest rate.
BB

Hi Sandrar

I fairly certain landlords insurance only covers you when a tenant causes malicious damage to your property, the insurance company then covers your lost rent while repairs are happening.

re your current situation. Yes try a new PM but also you might be able to do something simple and cheap to attract new tenants ie a ceiling fan etc…[Read more]

I was speaking with a PM yesterday from LJ Hooker who quoted me 6% of rent plus first weeks rent as a letting fee. They then have authority to spend up to $150 on repairs with out prior approval.

It’s always worth while trying to negotiate with them particularly if you’ll be providing them with ongoing business.

BB

Hi Jason
I just tried to email you on the address you identified and it bounced back. Would you email me at [email protected]

cheers
BB

Hi Poor student

I’m way impressed, I live in Canberra as well and haven’t found anything near +ve cash flow in the ACT.

Re your current problem. I remeber when I was first starting and had nothing behind me, I borrowed some of my deposit from my brother and the rest on my credit card. Then worked real hard to pay off the credit card…[Read more]

Hi Ya Leviathan

If you want to send me an email after this sunday on [email protected] I’d be happy to have a chat with you about the possibility of providing you finance.

cheers
Betty[]

Hey Daydreamer
I was interested to read your post. I was out at Oakey just three days ago, hoping to find positive cash flow properties (pcp).

Spoke with the two agents. One guy had a totally awful attitude (not sure if he just reserves that for women) and the other guy had nothing near a pcp and was much help at all.

Seems to me you must have…[Read more]

I’d speak to a few agents in the area and find out what a property with the same number of bedrooms etc is renting for.
BB

Hi ya
I’d be looking at how I can put the least amount of money in to get the most out of doing the deals.
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BB

Hi Ya

Can’t help you out with a template as I think it is best that you speak with a solicitor re this.

With your other questions though re research vs $$. There are a few people around who are doing a 50/50 split on the profits and losses.

If you are going to build up a substaintial portfolio I would suggest you look at setting up a…[Read more]

Hi Gary
I would of thought you could transfer the loan from the house to the flat. It is probably worth speaking to a mortgage broker about this.

BB

Hi Kaz

I guess it depends on what you like. Some people prefer shares others like bricks and sticks.

Me I like the later. I’m not a financial consultant, but it might be worthwhile looking for a positive cash flow investment property. But if you are receiving single parents benefit payment from Johnnie then you can’t own a property other then…[Read more]

Mox 23.

Just a few thoughts to help you get connected.

1. Attend some educational workshops on property, such as the ones Steve and Dave conduct, not the type where the are doing the hard sell.This way you will meet loke minded people.

2. Keep on at this forum and make connections with people living in your area.

3. Get a mentor who knows…[Read more]

Depends on what you want. Positive cash flow from hi yields, or capital gain to draw on for future investments.

BB

That’s an expensive deadlock for the tenant. I wouldn’t base the rental increase on that alone. For whos benefit is the deadlock, maybe a ceiling fan or security light would be more useful for them.

As an aside, It might be worth seeing if your insurance premium will reduce by adding deadlocks.

Re the rental increase I would suggest you find out…[Read more]

DNANZ
I have a couple of investment properties and havn’t had anyone ask for a 2 year lease. Most people go for 6 or 12 months. Primarily due to lifestyle and moving around.

The benefit of this for the owner is if there is an upward movement in rents you can adjust your tenants rent upwards as well. With a 2 year lease you are both locked in.…[Read more]

Hi Ronulas

My Mortgage Broker who I use in Canberra is Stuart Green his company is Greenlight Mortgage. His contact details are
[email protected]

phone 6259 0204
Mobile 043 977 1707

He is a good guy. Knows his products and has been in the business for years.

Tell him Erutan sent you.

PS Davo’s right about the info you will need…[Read more]

I’ve just had a quantity surveyor do a depreciation schedule for me in Canberra. He charged $385. Seems things are a bit more expensive in your neck of the woods, NewTo PI.

BB