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 and buy any old thing. Remember to do your due diligence.

When you say you have 50thou invested are you talk about the stock market? I wouldn’t think that the bank would expect you to use that money but more likely to use it as security to take out a loan. Don’t quote me on it. Your probably best advised to speak with a mortgage broker who would know the requirements from different banks.

Happy investing
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 or offering the first weeks rent for free or offering to assist with removal costs or free movie tickets …. the options are endless.

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 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[]

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

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 discretionary trust (which costs about $1400 for the initial set up and about $200 for yearly tax appraisal) A trust will protect your asset where as with a company you are left wide open. An accountant can assist with this.

If you haven’t got Steve’s book Wealth Guardian the investment is probably worth while as it covers pro and cons of Company’s, Trusts etc.

Happy investing
BB[8D]

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 the one your living in.

Consider maybe then whether to buy a house to live in. Lots of factors for you to consider there. Re can you make the repayments, can you afford to buy in the area your currently living in?

It my all feel too hard at times but just keep plugging in. You’ll make progress.

BB[]

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

BB

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. Good for the tenant when the cycle is moving upward. Not so good for them if rents are dropping.

BB

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