If you have bad expectations, irrespective of the cost of the property, congratulations you will get what you hope for, bad tenants or vacancies.

We have several really cheap townhouse which have tripled in 3 years. 1 Bad tenant in the townhouses in that time and landlords insurance covered the shortfall. No biggie. Any good property manager will…[Read more]

Great to see Steve in the posts. It is imperative to put a thermos of coffee next to you and start reading. There are too few hours to not start asap. Get some Dolf DeRoos books too. I’m sure Steve has them on his shelves as do I.

DD

PS146 Certified Financial Planner
Don’t sweat the small stuff,and it’s all small stuff!!

Great Couples are great because they bounce their differing opinions off each other and come to the middle ground without a death in the family.

With all the couples we have talked to about property over the years, it is plain to see there is always(well 99% of the time) one convinced that sitting on your hands will see you cap in hand to the…[Read more]

Derek again has nailed it. You need to have the relevant”runs” on the board and experience in your own portfolio and qualifications(although thats a mute point to some), to even start assisting others with their investment purchases.

My suggestion is that you pick an area, research it to death, talk to agents, buy them a coffee and discuss…[Read more]

Thanks to all here that have recommended me as a “birddog” or “Buyers Agent”. It is so hard to find any qualification that actually covers all aspects of how we help others invest. The best recommendation I have had was to complete the PS146 ASIC certified Financial Planning Course which I am pleased to say I finished in December.

It is the only…[Read more]

Showme each state is different and dont think you have to sign with standard conditions either. I always cross out 90 days and write 30 days in qld and cross out clauses i dont like, they sign them or dont get the business. Usually you can get some flexability but WA is a unique case.

The agents all think they are gods gift and when deregulation…[Read more]

yep thats sure going to help a novice investor. Bloody stupid to start a completely new learning curve in trading when they have already got a start in property. Yep go reinvent the wheel and then start from scratch. Sounds like a great move to me.

DD[blink]

PS146 Certified Financial Planner
Don’t sweat the small stuff,and it’s all small stuff!!

Usually when you change agents you have to pay for the 30 days to the old agent for the management. Usually you arrange with the new agent that to get your business they have to forgo their fee for the same 30 day period so you dont pay management twice on the same properties.

I did this recently with 7 properties in Ipswich and the new agent…[Read more]

Hi Snowy, I have info that Queenbeyan with the new Military Headquarters nearby will be the hot suburb fpr the next three years, nearby areas like Jerabombera which has a new supermarket and pub are doing exceptionally well too.

Good Luck with finding property with good cashflow there then it will be touch.

DD

PS146 Certified Financial…[Read more]

Cashflow is King,Queen, and the rest of the deck if your effort income is finite as most are. Get a good neutral/psotive investment now and with its equity in a year or so repeat ad nauseum until all the incidental cost and rates on each property get you to the same $70.00 a week negative. See how much better off you will be then as all of the…[Read more]

I have only found the quarterly info about average rents and vacancy rates on http://www.quartile.com.au they do a market summary every quarter you can review online. Hope this helps.

DD

PS146 Certified Financial Planner
Don’t sweat the small stuff,and it’s all small stuff!!

Kate you are not mad!!!! We started when our daughter was on the way and have not looked back since. We recently sold a “dog” investment of ours that was dragging us down a bit too. Never be scared to make choices that change who and where you are because stagnation helps no one.

If both are negatively geared, why not sell both, find suitable…[Read more]

or to make matters worse, think entry level properties, add value like carports, paint, carpet air cons and then get the higher rents to turn a neg to a positive cashflow prop.

Bought a unit in december for $95k with $95/wk rent, spent $5k, noiw gets $150/wk. This leaves you paying your rates and body corp fees, but $2000/yr approx is a damn site…[Read more]

First thing to think of is if you turn it around in 6 months all of your work will be for next to nothing. Why??? Capital Gains tax. Keep it for a year minimum and you get a 50% break on Cap gains tax.

After 12 months you are only taxed at your marginal rate on 1/2 of the profit. So you can make good $$ if you do the reno then either live in it…[Read more]

I disagree with Derek regarding quantity surveyors or depreciation specialists, we have 3 houses in tassie which only cost us 72k 88k and 105k respectively.

Always get a depreciation schedule as we founbd whti these three, the one that cost the most isnt the best for depreciation. The 72k house got us 3k first year, 105k got us 2300 and the 88k…[Read more]

Mate, any deal not on paper is not a deal.Before signing a contract, get the tenant to agree to the money and get them to sign an agrreement stating that. Pay them by cheque so that when they bank the cheque it is further proof of agreement and any court will then back up your application to remove tenant.

Its all small but it all helps. Next…[Read more]

There are several buyers agents in here so dont be afraid to ask for help if you need it.

Dont think we are only touting business, we also are investors too and are always willing to help noobs to reach their goals.

Good luck and always look outside the area you live in. It got me going after my first ‘local’ investment.

Paid off my ppor…[Read more]

Cashflow cashflow, if you dont get this right and cant access your equity for a year its useless as you have to sell early and loose all of your cap gain in tax anyway.

Do it right so its at lease neutral(rates and BC out of your pocket worst case), and with incresing rents it becomes positive over time.

Out in the sticks, yes please, I always…[Read more]

Yack your theory that mummy’s boy returns to his suburb in a big city doent hold true with me. I have moved to Coffs from Sytdbey and would never go there unless it was to catch a flight. We have more visits from our old friends and our new ones too to keep us very busy, and as for missing the family, not in this life.

Happy to be close to the…[Read more]

Devil the west coast of tassie is so remote and desolate that even real estate agents dont go there.

Most that sell properties there are based over in Burnie and have a roving rep to handle it. There isnt the volume to warrant an office and you cannot find a good property manager. I heard one town was renting properties through a milkbar as it…[Read more]