mmm, as I thought. I saw a calculation online that really looked too simple. Will wait for the QS

Hi Blessed Happy

I have done Steve McKnight's property apprenticeship program, which is excellent for covering the fundamentals of property investing – gives a great springboard to then build on.

Reading Robert's books, I have the feeling that Robert's approach would be very different – much more around the mindset of being a successful investor…[Read more]

Hi Katie

You talk about using a buyer's agent to negotiate a price. From what I understand, you can't negotiate a price for OTP purchases, the price is set by the developer.

If you are interested in using a buyer's agent, they can help you find a property from the start where you describe what you are after and they provide comments/suggestions…[Read more]

Hi Jamie

Yes, we are talking across forums! Appreciate the brainstrusts for their comments!

I agree that the timing isn't good at all… you have hit the nail on the head about why I am continuing to hold it – good tenants, difficult market, depreciation…

I also like your comment about possibly placing it on the market and seeing how it goes.…[Read more]

Hi Jamie

No I am not wanting to sell either. I'm just not feeling great about the Canberra apartment market at the moment with the number coming online…. There will be competition for quite a while…

Question is… do I cut my losses and run, or reval and hold (and hope??).

Would I consider a vendor finance or rent to buy….. I would have…[Read more]

Jamie

Great spreadsheet. Could you please update it so 2013 is the first year and it goes past 2016 (say to 2020 to give us some room). Please update us here when the spreadsheet is updated.

Cheers

Many thanks everyone for the comments, plenty to consider.

Appreciate your comments Scott, since my neighbour is the one pushing for the fence (our tenants haven't complained/commented about it), I will get them to do the legwork and paper signing, if the deal falls over then I know I can come back to it later as this is the second time they have…[Read more]

Hi Jamie and Shahin

For the purpose of others watching this post, could you expand for if Carson was looking to purchase multiple properties through his equity.

Many thanks Terry,

You jolted my memory about capital improvements. Could you please expand on the capital improvement and any implications from a tax point of view? 

The neighbour is organising the fence replacement so the quote (and receipt) will be in their name. Since I will be keeping the invoice/receipt to add to the property costs (even…[Read more]

Hi Sarah

I am interested in your comments here. Have you (or are you currently) doing these courses? Any other comments greatly welcomed!

Cheers,

Agree with Darryl here, while you are sorting out your finances, take this time to research the areas you are interested in, strategies and everything else there is to know about investing!

Being in your situation where you can't dive straight into the investing might be a blessing in disguise as while you are ever eager to get into the game, you…[Read more]

Hi Waydo

I'd like to re-open this post by eccoing Glen's question about the course you did. Keen to keep finding about renos, costings, research etc etc

Cheers,

That's huge Terry!!

All the best for the 6 month goal!

Would be good to check in again in June 2013 or so to see how everyone is progressing (or give a slight kick… if people need it….)

Opps, wrong tangent there….

I look in the back of YIP or SPI for the median 12 month growth for the area you are looking at (I would think the calculation will always be a 'point in time' calculation – not something you could calculate now and come back to months down the track).

Net Cash flow x Expected growth x 100
              Cash down                          1

Using a property I was looking at recently, my calculations are

(18720 – 17190) x 6  x 100
           53200

= 17.36%

From this, I would be interested in people's comments – would you have kept walking based on this calculation, or would this warrant…[Read more]

Good points Jamie and JP….

The fear of 'what happens if'……

I think Robert Kiyosaki sums it up well in his final chapter of "rich dad poor dad' – fear will hold you back everytime, but education and mentoring and taking that next steps will help that fear

Out of interest, how far in advance are you needing/wanting to do the pre-settlement inspection? Few weeks, a month? More?

Another great idea DWolfe. 

After reading a few books about successful people (the Millionaires series is one I'm reading at the moment), I found a common trait is that they sat down and worked out what they wanted (their goals), then stuck their goals in highly visible places so they were reminded of where they want/need to get to.

I realise…[Read more]

Many thanks Derek

Possibly a longer look at the PDS and more detailed questions to Terri Scheer people.

I am wanting to confirm that others agree that 6 weeks is a little too short for expecting insurance companies to complete repairs (particularly if the property is made uninhabitable). 

Hi all

I am going to revamp this thread to ask about Terri Scheer LL insurance. As I am about to settle on an apartment and house (2 separate purchases) and reading many positive comments about TS insurance, I called TS who provided a competitive quote, however in talking further with them, they advised that loss of rent is only covered for 6…[Read more]