RPdata is about $400pw. Lot of money for a beginner.

Why do you want to contact owners direct?  What's the plan?

What's your investing plan? Contact people direct and ask to sell to you cheaper to save agents fees?

What type of properties? End goal?

Thanks CMS. I went to a PRE seminar and then as a guest at a mentoring night. 

I was ready to buy with heaps of money in a LOC ready to spend and thought their service would suit me. I wrote this on the form and that I was ready to buy NOW.
BUT they totally ignored me (and another lady by herself). On the form I put my name and it asked for…[Read more]

If you want to live in a place that has low yields it makes sense to rent. Then (as Terry said) buy in a place that has higher yield and/or CG.

Steven. That can be very advantageous (depending how big your mortgage is).

You can move out and claim the interest, rates, insurance etc while renting it. My daughter did this for a while as she had a 2…[Read more]

Assuming you declare the income from the rent as income on your tax return you can claim deductions.

A lot of people do not declare the income from boarders, stating they are just contributing to the upkeep of the property, thereby avoiding income tax.

Best to speak to your accountant on the legalities.

http://property-investment.meetup.com/cities/au/brisbane/

Google meetup property. There may be others in your area.

I go to the meetup ones in Sydney. They are well organised (depends on the person organising) and well attended.

Go to a few free seminars in Brisbane. I have made some great friends just by talking to people at seminars.

watsonc the "approved" granny flat does not have to have a separate meter to be able to legally rent it separately..

Also with insurance when you take out the policy fully disclose the granny flat and you have no problem. Some companies won't insure them but find one that does.
I looked at a house that had an approved granny flat plus an…[Read more]

christianb wrote:

god_of_money wrote:
Does it require only a building approval, or is a town planning permit also required?

Who do I need to contact to get an approval?
How do I start? contacting the council…. will give me a myriad answer

How complicated to get it retrospectively… the granny flat has been built about 5 years ago

I say…[Read more]

There are MANY ways to make money in real estate. Some will be for you, some not. Unfortunately some people are narrow minded and think their way is the only way.

Then there are the knockers who know NOTHING. Don't listen to them. They only want to drag you down. I've had work collegues say "Oh why are you buying now, NOONE is buying now etc. And…[Read more]

Hi, we do buy, reno, rent. It just gives you equity straight away. Plus ours are at least CF neutral from day 1 which means we can keep buying.
As mentioned, there are many other ways to get CG faster.
As mentioned also, you have 20 years (that's if you want to keep working until you're 60. We were in a bit of a hurry as hubby was nearing 60 and…[Read more]

Not too old.
I started later than you. Like you, wish I had started much earlier. I'd be retired now. I've been buying like crazy (according to my friends) in the last 4 years and I'm going part time next year. 

The buy, wait strategy won't get you there in a hurry though.

Dark Night. Why not just let the vendor know you need a lease agreement before settlement otherwise you need vacant possession. She can get one drawn up in her sons name with her as the owner. Then at least if there is an issue you can legally get him out.
Let her and her son know what the rent will be so there are no surprises then he can decide…[Read more]

In each area there will be an agent that auctions the DOH houses. Just ask an agent in the areas who does them. Or look on RE.com. When you see one (most are quite obvious by the photos) look who the agent is and look up their website. In Mt Druitt it is Richardson and Wrench Mt Druitt.

TonyLyn wrote:

I was really looking for someone who shares my passion for property investing and my desire to be financially free but who has already started their journey and knows the pitfalls and tricks of the trade so to speak.

That would be everyone here.

Post what you are thinking, where you want to be in 5/10 years time. How do you…[Read more]

As Derek said you claim the interest you pay. If there is money in the offset you pay less interest and still claim the interest you paid. ie assuming it's a loan for investment purposes (not your PPOR).

All your costs are claimed on your tax- interest, insurance, rates etc.

Getting info direct from DOH is virtually impossible so maybe you'll have to wait and see if it's going to be rented again or sold. If it's going to be sold go to the auction. The ones that are listed OO (owner Occupier only) are usually better presented and cheaper. You should look those up.

If you are in the Mt Druitt area look up Richardson…[Read more]

No you don't put 10% down for interest. That comes after the cooling off period. 

Normal is .25%.

 You don't have to have a reason. Just say you want out. Lose your .25%, walk away.

For future reference only sign a contract if you REALLY intend on buying it.

You are obviously not doing your DD. There are good and bad areas/streets in Mt Druitt. I don't buy in the dodgy areas. I only buy in streets where there are not too many DOH houses left.
I'd be interested to know where you purchased. PM me if you like.

We have AMAZING tenants in our Mt Druitt houses. Can't fault any of them. Pay on time, keep…[Read more]

Yeah. A few in Mt Druitt (but not most). Mainly the reno ones.  Ex DOH.  Instant equity (well after 5 weeks) and our portfolio is costing us nothing to hold.  

When we move into buy/reno/sell we will look elsewhere though.

Nadine what do you mean by- "We are keen to share the knowledge through a face to face course"?

We have fully renovated several properties ourselves. We do most of the work ourselves and typically spend 5 weeks in and out (with working as well).

We haven't sold any though. We renovate, giving us increased equity (revaled some to withdraw…[Read more]

I agree Steve. My first thought when I read your title was "those that have a go".

I've met some amazing "ordinary" people that have just got of their behind and had a go.

I've always been a bit of a procrastinator. Meeting people like this gives me a wakeup call to get moving.
Pity it took me so long. In the last 5 years I've achieved more…[Read more]