Steve and Daves reno of their Ringwood Flats is also a good video to watch on this site.

JB

Is it CF +ve or can it be made so with a solution or two applied?
Is there new infrastructure going in?
Can I afford to buy a “mums-and-dads” property in this area?
Where is the good/bad side of town?
Is it a property with a twist eg Flat out the back or underneath?

HTH,
JB

Thx Brucemarg. Excellent advice and very practical.
JB

I always thought Governments got bigger, not smaller, over time…..
JB

Couldn’t agree more. Books provide all you will need to know. Seminars may give extra emotional support and sometimes friendships can build from there, but the raw facts are all in the books.
JB

Hi Eve,
I would recommend reading Steve McKnight’s two books which not only will give you an insight into buying a place to live, but also investing in Real Estate.

JB

>>>>>From experience we were also told we were not to contact the owner. This is what happened;

we were about to settle on a property but found out too late that there was major structural damage (first building report was bogus). We then contacted the owner direct because we received no satisfaction from the (his) agent.

That conversation we…[Read more]

Lots of helpful advice coming through here.
I would just add, that if you haven’t read Steve McKnight’s two books, then may I suggest you do so. They are goldmines in terms of setting goals, and realising that you can do whatever you want to do, (health and sound mind permitting).
The books are a cheap investment, but worth their weight in gold…[Read more]

There’s a heap of excellent free stuff on this site (Thx Steve). Also, remember your local library, which will have more on Investment. Margaret Lomas and Jan Somers are two authors worth reading as is Dolf De Roos (Their latest books)
But remember not to take everything they say without chewing it through. Some ideas will suit you and some…[Read more]

From what I’ve read/listened to:
He’d spend $20K on each of five $100K properties, if he was a beginner. Or if more experienced, take a risk in puitting down 20% on a bigger deal (borrowing the rest). He only buys Commercial property these days (or so I heard on some tapes of his from 2003).
Seems like a genuine guy, with quite a bit of financial…[Read more]

I can’t remember Steve in any of his books or articles ever saying to use more cash than is a minimum. Otherwise what is the pt of cash on Cash return?
Maybe others have a different perspective?

JB

Is there maybe also an opportunity to turn them in to Commercial space in the future? Always something needed in CBD’s of most cities I know.
Just a thought…..

JB

Hello,
I bought a DHA property at Holsworthy 3 years ago at, or near, the peak of the Sydney housing boom. Since then the peak has continued up for me. The house is now worth 120K more than what I bought it for (320K-440K). -vely geared at $8,000 per year. Ouch that hurts!!
But I didn’t know any better. I don’t have a penny of my own money in it.…[Read more]