i teke it you are now in Australia and have no funds here?? All you need is to peel out some pounds and convert them at 2.5/1 into aussie dollars, then go get a loan.

This seems to basic, have I missed something??

DD

Don’t sweat the small stuff,and it’s all small stuff!!

HI Mini good to see you on.

Cashflow is king because without the right cash you will be forced to sell when the market isnt favourable. For me to be happy I need to have the property earning 7.5% which currently pays the mortgage and management rates only and not the council/water rates and maintainance.

I usually do a reno in the first year so…[Read more]

Hi Marsden, can you hint as to your contry region??? I am currently selling houses to pay off my ppor. By Jan 23rd(my birthday) I will have it down to $250k. House is worth $900k and we moved in in June so Im pretty pleased.

A very important point is that I am also divesting myself of the less performing houses and moving on. Admittedly when the…[Read more]

Try needing 15 valuations on different properties all at the same time and with three different banks.
That was us last year in May when we were buying 6 houses all at once. Fighting with the banks is silly, they are all useless and think they are gods so never be afraid of getting a valuers name and number and doing as much research as possible…[Read more]

Sorry, forgot to add that one of my close friends kept calling me a slumlord and that I was building “an evil empire”. Funny thing was, after we had 1.6mil in property under the belt he looked more closely and lent me $170k for three months to get me through a delay in financing my next big deal. So no more evil empire, and yes I have helped him…[Read more]

Ali, the family and friends are only voicing their inbuilt fears and doubts, and a big glob of jealousy comes into play as well. Isnt it amazing though they will all say “werent you lucky” when you become wealthy, as if your decision to actually do something had nothing to do with the outcome.

They are living the lives we all could have had if we…[Read more]

Buyers Agent is the other term for “birddogging”, and the way each structures their approach to finding properties is different and unique.

The bigger the project the more risky for each party concerned,so maybe start small with a few basic units or townhouses as the on cost for each is smaller.

The principles are the same and if you are honest…[Read more]

If you get the $150/wk you are getting a tad under 8% return. This covers the mortgage and management rates but not maintainance and council rates.

I say thats good enough because if as in most cases you have $1300 rates and maintainance allow $1000 per year it will average out for you.

As rent increases your costs reduce so before to long this…[Read more]

A professional agent that does the job well, arranges quotes for repairs and always does what she says, thats my agent Angie from Ipswich rentals and sales.

Yes we nmanaged a nightmare tenant ourselves and finally flicked it after 6 months back to our agent as we didnt want to have to deal with the tenant winging about non payment anymore.

Since…[Read more]

You will now be flooded with private messages from brokers and they will all give you great yet conservative views on investing. Maybe if your home is worth $250k you can borrow $200k. Some may say dont do that, but if you can find and buy 10 x $200k investment properties and use $20k for deposits on each, your portfolio and your future…[Read more]

Gee isnt it nice to have information available to make choices. Porridge with soy milk is disgusting, tea with soy milk is foul. So even though it and several other things are supposed to kill me in various degrees my choice is just tha, mine to make.

Worry more about Sodium Laurel Sulfate and Propelyne Glycol, these are known carcenogens used in…[Read more]

We paid a flat fee for our NSW house of $790 to our solicitor, we pay nothing more. We are about to take the house off the market in Sydney, replace carpets and jazz up the kitchen then put it back on the market. So far as I know you got stung. The fee only applies to a contract thats going through and I have been told that I get a refund if we…[Read more]

We are all in here for the same reasons, to ask questions and share opinions. Isnt it great we all come from slightly differing perspectives and backgrounds. Nothing better than a bit of healthy discussion.

Personally I want to just pay off this house and have 20 fully owned houses, the rest can take care of itself.

DD

Don’t sweat the small…[Read more]

Usually if they are old or ex housing commision houses then the mix of renters to owners is higher and accordingly not so bad for crime and trashing. So for example a house we bought in Launceston in November was ex housing commision which had been sold to owners and investors.

This house had a retired couple on rental assistance. Not only have…[Read more]

We tried to get council approval first before organising a house and they hit us with the 100 year floodline cutting through where we wanted to have the house, so that was the end of that. Some councils are quite pedantic about what and where houses sit too so do your research first.

Good luck.

DD

Don’t sweat the small stuff,and it’s all small stuff!!

Derek on point 13 rental guarantees, dont know where you invest but the are very common and popular in Tassie and in Launceston I have done 5 deals for investors with guarantees in place this year.

Very happy people.

All are only $5 or $10 above actual rents in the area now, with full research done to validate with other agents. Just another…[Read more]

Matt, welcome to my world, our Sydney house which was a standard 3 bedroom house until we addded 2 extra bedrooms and a spa ensuite, has not done well in the sale department either.

We started at $429k then $390k then $370k and now 6 months later its still not sold.

I think I have the reason though. Every tinme we list it, it gets viewed then…[Read more]

Hi Rose, hi Jo, just wondering why the split in thinking. If you did get a bigger home near where you are now, i would only assume that you would not get enough rent out of your existing PPOR to cover the new mortgage.

Not being currently up on the Victorian market I cannot help there, but as Kay says there are other states and even NZ for you to…[Read more]

I have several loans woith several lenders and all are the same *&^% different day. Their aproach to doing things is slightly different with each lender but they are all bad or lacking in some way and some excel in others.

I use a broker based in Sydney and he has also helped with about 30 loans for my clients in the last year. All with a variety…[Read more]

Happy to get that last post in here about adding to topics via healthy discussion. I personaly feel the troll comment is another of the euphomisms for people you personally dont agree with. Lets see them all in here as I fell this is a healthy discussion between people of difering levels of knowledge and experience. Those with strong opinions will…[Read more]