Thanks Marc,Sorry about the "too", I realised after I'd shut off my computer :SI'll be copying down those clauses you mentioned and taking that to the REA shortly. I feel much more protected with the added details.Much appreciated.

Hi Elka,I actually found out that the owners family are currently living in the property. So I don't know what to problem was about keys being available. I've decided to make a written offer on the property tomorrow including the following clauses:Subject too building and pest inspections. Subject too finance. Subject too inspection of the pr…[Read more]

L.A Aussie, what other questions would you suggest asking when buying sight unseen? Cjay, as the others have mentioned it may be a good idea clearly establish the reasons why your buying. Capital Growth/Cashflow? If it's cashflow then you might want to make sure the area has low vacancy rates. Ask what the property could rent for as is. What coul…[Read more]

I'll answer my own question (thanks to alot of help on another site), just incase anyone was curious…YES it is possible. The vendor may appoint a Power of Attorney to act on their behalf. Alternatively, I may add a clause in the contract stating "signed faxed copies of documents are accepted as conctract".

I'm with Wylie on this one. Offer a longer settlement and deduct the rent they would be paying from the purchase price. This could be a great advantage to you as it means you benefit from any capital gains during that time, without any cost to you.

I wouldn’t feel right to comment on the price of the property your looking for as I’m still in the process of purchasing my first IP. However, I do live in Altona Meadows which is a suburb very close to Point Cook. I can tell you that within point cook, there will be another supermarket built as well as a cinema in the same complex.
Also, plans…[Read more]

Wow usi.

If the quick calculations I did on the 2 properties you mentioned were correct, you had an approx 13% Gross yield on both IP’s. I don’t own any investment property as yet and I’m still very much just a beginner but that sounds great to me.
When were these properties purchased if you don’t mind me asking?

Aaaha yes. Embarressingly easy answer, but one I had to ask! Thanks 3056

Dazling could I ask you a quick question, or anyone else who could answer this for me. I was trying to follow your calculations to fnd the Net Yield of Sarahs potantial prop. I couldn’t figure out how you came to get 3.8%. I understood all the rest, just the part to get from $3,260 net yeild to the 3.8% figure. My maths isen’t so good.

Net…[Read more]

I just stumbled across this page doing the daily check.

Josh – Your msg was a great little bit of knowledge. I’ve also been wondering if the LMI percentage increases with a higher LVR and if so, how much. So thanks for sharing.

Great messages guys, thanks for replying. I fully agree that planning its a vital aspect of success.

When I think of entering the investment world without first having a plan, it reminds me of a saying from one of Robert Kiyosaki’s books. Something along the lines of “trying to invest without first establishing your goals, is like trying to pack…[Read more]

Hey guys,

This is my first post on the site. A young investors club sounds great. I’m eager to find other people in Melbourne that I can discuss property and investing with. Without talking about what I read or hear, it makes it harder to stay in my mind. meeting up with others like myself would be a great step forward.

I’m in!

My email is…[Read more]