When I purchased they weren’t necessarily promoting positive cash flow. But definantly talking about the power of bulk purchase. In fact of the 3 investment properties I own it is the only negatively geared one.

I purchased a town house down on the gold coast. Now don’t groan. It isn’t on the strip. It is in a suburb called Benowa. It is close to schools transport, shops etc. It is about 13yrs old now and is in a well maintained complex. I probably get 2-3 letters from agents a week asking me if I want to sell. Speaking to the property managers who live on site they were telling me about one of the town houses that sold there recently and I was pretty surprised at how low a price it went for.

BB

Dav
I haven’t purchased any commercial property but from what I read the guidelines are the same as purchasing residential. The one main thing that stands out for me is that commercial properties can be vacant for much longer periods then residential, so you have to make sure you can service the loan for extended periods when you don’t have a tenant. Also you need to be prepared to pay for refurbishments to cater for the tenant. Property investor magazine had an article on this in a recent edition.

Hope this helps
BB []

Would the Australian Bureau of Statistics have anything?

You could scan the papers in that region to get a feel for what is being advertised and for how long. Or you could contact agents and pose as a person wanting to rent.

It also depends on the quality of the property and how you treat your tenants. if your a slum landlord people aren’t going to tolerate that for long. You look after them and they’ll tend to stick around.

BB[8D]

Hi R

I recently upgraded my insurance cover (I’m with AAMI). It was in consultation with AAMI. They have a proforma guide re this.

Cheers
BB

Brad

I think the best thing to do is grab a map. Identify the radius area from the CBD that satisfies the 30min travel criteria required and start researching. Look for any major developments ie roads (this will impact on the time it takes to get to the CBD), buildings, sport/entertainment complexes. Also look at transport routes. Check out the median prices in the areas and identify which areas are booming at the moment, boom areas have a flow on effect to surrounding suburbs.

As steve says, you can find good positive cash flow propeerties just about anywhere. You just have to do some research.

BB

TJ
If a person doesn’t have an income in some shape or form that won’t get finance as they won’t be able to pay back the loan, unless I guess they have assets they can sell.

Re a person on the pension I guess it depends on the repayment requirements and whether they can prove that they can repay to the banks satisfaction.

I don’t think being a good tenant on its own will convince the banks.

What does everyone else think?
BB

Hi Neo
I use an insurance broker who basically does all the leg work for me re looking for the best price to suit my needs.

I can provide you with her details if you like. I have a couple of properties which are scattered around the country side, insured through her.

The prices she found for me were cheaper than anything I could find.
BB

Hi TJ

One would think in most cases that the utilities would be connected when you initially inspect the property prior to purchase. Unless I guess if it has been a rental property and has been vacant for some time.

I’m sure you could come to some arrangement with the vendor so you can ensure equipment is functioning, otherwise you may get an expensive suprise with having to replace hot water systems etc.

If your renovating wouldn’t you need the power on any way to carry out the work.
BB

Hi Jason
It been a while since I’ve purchased a property but from memory the initial contract at time of deposit has a facility to include the clause re subject to finance and pest inspection etc.

The letter of offer can just have the details of the propoerty ie address, how much you are offering and the expiry date of the offer.

Betty Blockbuster

Hi DS

I haven’t heard of the guy you’ve mentioned, but I agree with terry. If it is a free seminar it is always worth a look. And if you don’t like it or it does turn out to be a subtle sell you can always leave.

The way I figure it is that you are not going to get all your answers from one seminar or one book.But you’ve got to start somewhere. Today a free seminar and maybe next month you’ll pay to attend a seminar (who knows).

The wealth creation journey is about collecting knowledge and strategies which then open up more questions which then leads you done the path to discovering more knowledge and strategies and so it goes on.

Learning is a life experience.

Enjoy []
Betty Blockbuster