Hi Michael
I agree with richmond. Clear your mortgage first as it is costing you. You will find it much easier then to move on with your other plans when you PPOR is unencumbered.

Hi Amanda
This book is put out by Ray White RE. It is a guide to selling property and is written by (Mrf Porter) the person who is responsible for establishing Ray Whites sales training system. I have not read it. Looked like a training manual for RE sales people. But, if you have been given the book, read it. You may get some gems. Then you…[Read more]

JustAllan
If it is an IP, and you claim the renovation, they will know.
Congrats Romina & Luca on your first PI. Hope all goes well.

Depends on how much work you want to do yourself. The trading post can have some good deals. For bits and pieces, try fowles auction group.

Hi Blondie
Jan Somers books, (I think there is two, maybe three) are others. Jan was the one who got me thinking harder about what I was doing. I even convinced my mortgage broker to read it (and he is very staid). He now hands it out to all his customers.
Postitive cash flow books are great, but don’t forget to look at all sides to get the big…[Read more]

Don’t forget Pirates of the Caribbean.

Thank you Bryce
I ordered it after seeing your post. Received it within two days. Much appreciated.
Calder

Mattn
Still!! It was excellent 5 years ago. Did not think it would stay good for so long. Is it still cheap?

How you could build a $10 million property portfolio in just 10 years.

Interesting question. Agree with both Geo and Yack. Really depends on what you want though. I assume you are putting all your profits into paying off your own mortgage, which will reduce it much quicker. If you can afford it though, have you considered keeping these going for as long as you can. Unless you feel the values may drop, it seems a…[Read more]

Hi
We bought an IP in Marsden about 5 years ago. Our property is now cash flow +ve, but the capital growth is almost non-existant. We get $170pw and paid $110k for a new house. Have not looked at the growth in the last 12 months, so it may have changed. When we last looked, the median price was around $130k. The property has never been…[Read more]

Life happens. Choose your path. It is your choice and no-one elses. Choose how you want it to be, if you want it to be.

Have been looking at the real estate pages of Clayfield. There looks to be a huge amount of properties for sale (and rent) at the moment. If you have an open agreement, you should be able to list with more than one agent at a time. Have you thought about writing your own advertisement – Peter Spann’s suggestion – to make the property more…[Read more]

Bigben
In certain suburbs in Melb, a tree that size would definintely need council approval to remove. Information like this can often be obtained from council websites relatively easily. Talk to you neighbour before going much futher. They may LOVE the tree and you could be wasting your time if it not dangerous.

Hi fewster
The property was cash flow +ve, the business had been there for years. 1st problem was getting the loan – 2nd hand business was considered risky. Even though we were buying the property, not the business, it made no difference. The 2nd problem was the insurance. Many insurance companies considered it a high risk business, and it is…[Read more]

Hi Cre8ive
Can you give us more details. What area is it in? (Is it a high risk area eg: if the tenent leaves, will it then be re-rentable easily.) Contract conditions? Is the property too good for the area you are trying to sell? Is it one of the contracts that have the rent guaranteed for 5 years, etc, etc. Would you buy it now if you were…[Read more]

Hi
I am not a broker, and I know it is not relevant to your question, but just a note on buying commercial. Before you go ahead, make sure that you can get a loan for the property, and insurance. I leant the hard way (because of the type of business in the property I was buying). I was starting small, and found so many obstacles because the…[Read more]

Peter Spann’s latest book is called ‘How you could build a $10m property portfolio in just 10 years.’ His first one is ‘Wealth magic’. Looks to be another one that I was unaware of called ‘Little pot of gold’. Must go off to the bookshops and find it. I have read the first and last, and they both are a really good read. Both contain snippets…[Read more]

Terry

I am in a similar situation to Alby, although have been working for myself as an investor since leaving work for a little longer than Alby. I never thought of needing an ABN which I suppose is logical when I think about it. Does having an ABN make it easy to get Low Doc Loans or Asset Lends? Working for myself has caused my current…[Read more]

Scott

Did not know you gave a discount to forum members. We did use depreciator when we had one of our properties assessed June/July. Thanks for the knowledge. We’ll mention this next time we arrange a schedule with you.

Calder