Hi bolgsI dont think that they are neccessarily at their peak, just asking the question to the forum.Im actually leaning towards fixing my interest rates, as I fear it may go over 10%.That way I know exactly how much I need to accomodate each month….Are other investors fixing at the moment? 

I think the general concensus is:  Get a PM immediately and have them boot this tenant…….????

Sounds like the Property Manager had their eyes on another finders fee.  Ive had PMs who always seem so keen to get me a new tenant (and first weeks rent of course)…. 

Statistics show that Australian rentals have increased at an average of 4% pa.Of coarse, you have years where rentals increase and then stabalise.If you are planning over the long term, 4% is a fair estimate to go by.

Wow….!!!I agree that you need a Property Manager, this sounds like it isnt your game.  Property investing is a business, and needs to be treated as such (within reason).  That is not to say that you cannot be a great investor, but you definately need someone to deal with the rough side of things.Property investment should not be a financial or e…[Read more]

I had to leave early to get my kids, but I started to realise in the first 5 minutes that Michael Yardney’s presentation was almost word for word exactly the same as one he gave here 3 months ago.

I guess its worth going for motivation, but you do have to be prepared to be sold to. You certainly wont get any amazing tips that you wouldnt…[Read more]

Hi Guys, well here is the update…

Lesson Learnt: DONT rent to friends……………

Ive owned this place for over a month now, and after several requests to delay the occupancy date, he (my friend) is only moving in now. On top of this, he has told me that he will now only be there “2 months max” (but might want to stay on, not sure).…[Read more]

Just be careful of who you speak to and always seek independant advice from people who have experience in investment mortgages.

I have had previous advisers actually reconmend that we take out x-collateralised loans on IPs. I have also had bank managers talk it down by saying that all banks will x-collateralise anyway and that it “dosnt really…[Read more]

Ive always had good experiences with my lawyer in Brisbane.

Ive dealt with him while in Oz and overseas, and what I like about him is that he is always very calm about the whole process – even when it gets tricky or deadlines get tight. Also, he explains things to you in detail – until you understand why he is doing things without making you…[Read more]

Thanks for you response Wylie, sorry for my late reply.
Ive been off the forum for a while.

It seems that there will be a sale looming. Personally, I would develop the block or do something that generates income from it without selling – but thats just my opinion.

An independant valuation is critical, Im not even sure that they will do…[Read more]

Hi FWC,

You need to do you own researchg about the property, the area, rentability etc. DONT rely on any info an agent gives you.

But, an agent can give you info about the seller, and this is often critical to getting a good deal.

Ask things like:

“What are the vendors reason for selling”
“Are the vendors motivated to sell”
“What price are…[Read more]

Yeah, thanks Richard…

I always thought that the tax benefits would be much the same – but hey, Im no accountant.

The thing is that when I went into see they guy, I told him I wanted an offset split mortgage. He questioned me, asking me why I would want an OS, when the tax benefits of a LOC where much greater. I didnt have enough time to stay…[Read more]

Hi Kearnal,

We were in a very similar position not so long ago, while living in Europe.

We wanted an investment property in Oz, but didnt want to forgo the FHBG. But, we were going to be in the Uk for another year. We bought an appartment and rented it immediately on an 11 month contract. Upon arriving back in Oz the tenants soon moved out,…[Read more]

I read that Robert Kiyosaki and his wife were living out of their car for months after loosing it all in a failed business. He certainly came back from this.

Also, a family friend who was raised in an orphanage in sydney, managed to become one of the wealthiest men in Sydney. He lost and regained his wealth numerous times, but always came back…[Read more]

Hi Guys, just a quick update for those interested.

I organised an independant evaluation of our property. The valuation has come in at $225,000. This is $35,000 more than the banks valuation a few weeks ago of $190,000. What a difference…

We are now in a much better position to refinance our next property. I STRONGLY reconmend an…[Read more]

I like flats and think they are a good place to start.

Sure, capital gain on houses will be more. But if I have x amount of dollars, I would often prefer a good flat in a boutique building (not a city highrise) that is located close to the city than buying a house in the suburbs at the same price.

Heres why…

I can almost garantee that the…[Read more]

Im in this very position right now.

We have made an offer on an apartment. The agent insisted on a 5% deposit – almost $20000. Our mistake was to accept this. [withstupid]

Since then we have realised that it impacts on our available cash flow for other things such as fees etc. Almost immediately after signing the offer, we realised and tried…[Read more]

Here is a few I know of – but in QLD.

http://www.drakehomes.com.au/
http://www.dalbyremovalhomes.com.au
http://www.qldcolonialhouses.com.au/houses_removal.htm
http://www.grahamremovalhomes.com.au/faq.html
http://www.wrightbros.com.au

Oh yeah,

Specifically for property investing:

Michael Yardney’s “Grow a Multimillion Dollar Property Portfolio in Your Spare Time” is a great read. Michael is a reknown Australian developer, so all the content is local. Good Stuff….

Rich Dad Poor Dad was the first “investing” type of book I read. The truth is that its not about investing at all, but rather changing your mindset.

This book started it all for me, my wife and some of my friends. I would love to know haw many people are now financially free, years after first picking up this book….