It is definitely worth pursuing. 
But you really need to make sure you get your numbers right. Choose 2 suburbs (3 max) and REALLY know them like the back of your hand.
Many people come unstuck because they under estimate time and cost of reno's and over estimate sell price, AND forget to factor in buy, sell costs, holding costs, stamp duty…[Read more]

There are loads of groups in Sydney.   I went to a great meetup the other week. Just casual. Lots of investors, chatting about their experiences. Some newby's wanting to get started.      http://www.meetup.com/sydney-investor/   

There are other groups as well.  There are also regular meetings in different parts of Sydney. Some are free or cost…[Read more]

There are loads of DVD's seminars that focus on one strategy but only overviews of differing strategies.

Best to decide which strategy you wish to pursue and THEN get DVD's or go to seminars relating to that.
Do you have ANY idea what you want to do?  There are WAY too many ways to make money in property.

Reno, development, options, subdivide,…[Read more]

GoldenPearl wrote:
I have not waited till I amass a large amount of material wealth to do the things I want to do.
Whether it be purchasing properties, helping people in the community, buying objects, or traveling the world. All of this can be done if you really want it. Where there is a will – there is a way, so they say.

Some are smart, some…[Read more]

renel wrote:
Ok so $10k on hand is ok then. Cheers everyone

How big is your portfolio?   If you have one property rented at say $400 a week. Yeah it "should" be enough.

I agree with streamline about stress. I put a lot of faith in SANF (sleep at night factor) in all my dealings. If I'm not sleeping something has to change. I'm a worrier and…[Read more]

no

Are you looking at units or houses and how much do you want to spend?

Are you expecting to just purchase something that is CF+ or do you have a strategy to make it CF+ (eg reno). Do you mean  "really" CF+ or CF+ on an 80% lend?

What has you research told you so far about these areas? Why them?

JacM wrote:
I'm definitely a landlord that does xmas gifts.  Interested to see gift ideas other people have (for tenants).  The more thoughtful or unusual the better!

Last year I did a package of their favourite beverage, some chocolates, and a ticket to go on a scenic 40min cruise.  I gave this to each tenant in a unit block and it worked out…[Read more]

Always remember the Real Estate Agent is not working for you (or necessarily in your best interests). Their loyalty lies with the client (the vendor).

So yours is worth $306K with a mortgage of  $194K? It is easier to just say that if I've interpreted correctly.

So yes you have $50K + $20K to spend. When you say you've paid it off do you mean you have directly paid down the loan or put it in an offset account? For future reference always put money in an offset account that way you can do what…[Read more]

Can you give figures of IP worth and loans as your figures are not clear.
Have you paid an extra $50K off the loan or is it elsewhere? Where are your partners funds?
Do you have a PPOR or are you renting?

You also need to find out how much you can borrow.
If you buy under market then reval (do a reno etc) then you can withdraw that equity of the…[Read more]

A friend of mine who has multiple properties uses them.
I am going to look into them as soon as I have some time.

There's no difference in the process. The owner has a contract of sale either way.

The only thing you need to be sure of is the price. Is it a fair market price? If you know your area you will know what it is worth. Some vendors are unrealistic about the sell price. Some just don't like forking out %15-20K when they know their house will easily…[Read more]

I don't buy in large complexes. Small complexes are easier to change things. You only need a few disgruntled people. Give them someone who is willing to solve their problem and they'll let you.

mulderbauer wrote:
Hi

I purchased a unit in a hotel complex a few years ago, bookings have been consistent and pretty much cover the mortgage and utilities, downside is that due to current market forces the value has gone down like most investments

.

Really? None of mine have gone down.
Hotel complexes are always risky. I'm guessing you…[Read more]

I wouldn't take anything an agent says as gospel. Ask council.

So you haven't looked for 4 years?

I'm assuming you have your amounts around the wrong way. There is no way admin is $310K. The admin fund usually has enough in it to cover the admin costs. So if it is low there is no worry.

The sinking fund is to pay for maintenance etc. If there is a big cost coming up some strata choose to raise the levies…[Read more]

Given your questions I would in NO WAY manage myself.

First learn the rules and what you legally need to do. You could find yourself with heavy fines for not following simple rules (like the lease, bond, notice of rent increase, eviction etc). Or worse still you could lose everything.

The current condition IS the condition report. Yes you both…[Read more]

xdrew wrote:
I can tell you where i've been purchasing in the last year and a half .. simply because I get the returns i want.

Albury and its surrounding suburbs.

The returns range from 6.5%-8.2% depending on the property and position.

But considering you can get property there (rental property) under 100k with a 7% return .. its been good…[Read more]

This is the disadvantage to paying off your property. Alwayus best to put money into an offset account.

You can't negatively gear it now.
If you rent it out also your new loan for your PPOR is non deductible.
What's the status of the IP?

And yes you will pay tax on the rent as you have no mortgage to offset it. Depends where it is in the cycle…[Read more]