JG

It is possible to achieve both positive cashflow and capital growth from regional areas… I know I have.

Cheers

David U

Hi

Who really cares what part of the property cycle we’re in.?

Isn’t it really about making sure that the numbers makes sense (ie we make money) and that we manage our risks for any change in the market?

Why worry or hypothesise about what MAY happen, just deal with the here and now. That’s what I think

Cheers

David U

Hi Peter

I think it was/is just the case of buying under value and the market catching up.

Cheers

David U

Hi

Ask the selling agent what thse costs will be.

BTW what will these properties rent for?

Cheers

David U

Sooshie

I agree

Cheers

David U

Hi

Fullout: No renovations; great condition as is. Both are 3 bedroom.

Property Investor: Overseas as in NZ… Still researching

Cheers

David U

Hi Gordon

I only have 2 properties in the LaTrobe Valley, 1 in Morwell, purchase price $65k, rent $135pw. and 1 in Traralgon purchase price $80k rent $160p.w

Both purchases in Sept 02, both are worth approx $20k more than I bought for them. Have been tenanted from day 1 and are cash flow positive.

I no longer purchase in the Valley although…[Read more]

Yes

What would you like to know?

David U

Hi

Just thought of one:

The government are looking at regulating wrapping and you will need to be accredited to do so in a business capacity in the future.

Fact or fiction?

David U

Hi

I just insure the property for twice the amount that I paid for it

Cheers

David U

Michael

Excellent. Thnaks for sharing.

BTW I’m a great cook! and have done pretty good renovations in the past… Only individual rooms though. Looking at doing the whole hog as soon as I can find a suitable house.

Cheers

David U

Mini Mogul

I think we’re on the same page re: NZ

Maybe we can discuss

My details are Davidu@iprimus.com.au

Cheers
David U

Michael.

Excellent! Sound advice.

One more question: What experience did you have of renovating before hand?

Thanks

David U

Hi Fullout

The bank will have a registered first mortgage over the property and you will have an ‘equity’ interest in the property; ie your deposit + any amount paid off the principle.

The loan will continue to be your ‘liabilty’ until you have completely paid out the loan.

Cheers

David U

Hi Michael

Sounds great.

How long did the renovations take? Any tips/lessons learnt?

Cheers

David U

Yes Fullout

That’s correct

David U

Hi

Nothing wrong with ‘taking shortcuts’ as you put it, I would actually call it leveraging your time.

Our due dilligence is as follows

i) Rental history – Speak to last 2 landlords about payment history

ii) Employment History – Verify employment and salary details; ie call employer, check pay slips. You also may like to check that the company…[Read more]

Thanks Terry

My mortgage company are already on the case… and the valuation will be ordered in the next few days.

Does anybody have any pointers about how to get the best possible valuation figure; the growth in my area (as in almost everywhere else) has been great 25% in last 6 months $80k props now selling for $100k.

I was thinking of…[Read more]

I guess the question is ‘How many can you buy at 90%?’

David U

Hi Terry

What are the steps with just asking the lending institution with an increase? And what’s the ‘normal’ time frame in getting this approved?

Thanks

David U