$85/week for expenses?? What about insurances and vacancies?

Interesting comments there Cliffe. While I agree with never starting on a whole number, the numbers you provide are quite unique, do you need to be that specific, or can going to the nearest 50 be enough? (I’m thinking about not p***ing off the REA. I like the comment about finance as that can be a deal maker or breaker.

Hi Daniel
Your post didn’t come through correctly (or at least it can’t be understood). You may need to type the question in rather than cut and paste.

Hi Trisha
It sounds as though you’re looking for a buyers agent. Have you searched the forums for a buyers agent who is knowledgeable about the Brisbane market. I am not sure what they are charging for their services.
Cheers,

I changed agents and didn't have to wait the 30 day period as it was in between tenants (similar situation to yours). How long have you been with that agent? If it has been a little while, then you may be ok.

You could try it now and say that you are wanting to change agents and see if they bring up anything. At the very least, it may cause them…[Read more]

Hi Bacchu

I was in a similar situation where it took around 5 weeks to rent my apartment (Capital city near to major amenities – just an oversuply of available accom). I lowered the rent by $40/week and offered 2 weeks free rent. I also hounded the RE agent to make sure they were doing all they could. I also made sure the ad was updated during…[Read more]

Hi,

Propertymeeting.com.au is very active in organising property investor meetings. Looking at the website, I found http://www.propertymeeting.com.au/archives/category/devonport

I realise Devonport is across the other side of the island but you may be able to contact Tracey Bell for something mroe local to Hobart. I understand Tracey has created…[Read more]

Catalyst wrote:
When I'm a millionaire I'll travel more (my husband thinks I travel too much already) and in doing so use my time to help others.  Building houses, schooling children, helping people help themselves to achieve a better life etc. And also increase my donations (both of time and money).

Money makes the world go round. The more you…[Read more]

Catalyst wrote:
Granny flats are all the buzz in western Sydney at the moment. It seems everyone is trying to put a granny flat in their backyard to increase yields. Sometimes it's good, sometimes not. It depends on privacy of the 2 tenants. Sometimes the house rent will drop considerably and be difficult to rent.
If there is privacy for both…[Read more]

It appears this system is a common theme – I also have a simple spreadsheet that records rental income and expenses per month (is good to see which months are high and low for future budgeting). My accountant gives me (for each property) a folder with sleeves in it for the hardcopies of rental statements, rates, strata, repairs, 'other', bank…[Read more]

Since I haven't been able to keep New Year resolutions, I don't have any per se, but an investing goal is to acquire 2 properties per year until I reach my overall goal of $3 million of property (my financially free figure).

Last year I unfortunately didn't purchase the said 2 properties, but it was still a year of learning. I couldn't purchase…[Read more]

Yes great link, thanks.

It's good to see when it all starts coming together (offsets, structuring)

You could use any of the brokers who post regularly on this forum. They give a lot of knowledge for the good of all the forum users. 

Jamie makes some good points. To add, make sure you understand the holding costs in the area you are interested in. I have found that holding costs seem to be more expensive in country areas than city areas.

Good thing about buying an IP is that you don't have to buy the IP where you live, but where you'll get the return you're after (be it CG, yield or mix).

Or, you could buy in Canberra while the prices are down and rent it out until you move back.

Care to elaborate James??

It also comes down to knowing the area. Why did you first buy in this area, and is that still a valid reason to buy again in this area. Can you see any economic drivers that would help increase rents or resale value in the coming years. 

On a side note, I'm not a fan of studio apartments as you cut out most of the market, unless the area really…[Read more]

Thanks Richard,

Clarifies or confuses the situation as I read that if you did under 5(?) transactions a year, then it wasn't regarded a business and therefore you didn't need to hold a credit licence as such. Possibly the rules have tightened.