225k to me is 8 x $100 -$120k properties(as deposits) with enought left over for renos and legals. Sell and lock in the profit. Then use the cash wisely.

8 x ip’s gets you approximately 1200/week rent so thats 7.5% covering mortgage easily and management costs. Probably get more depreciation and definitely by spreading risk over several locations…[Read more]

I am a computer consultant and do so little computer work these days its scary. My total focus is on properties and developing a great portfolio. Hit a snag. Found the “perfect house” to live in in Coffs and my focus is getting it all paid off by the end of the year.

Once that is done, a nice and healthy line of credit to go again. PAY OFF YOUR…[Read more]

Quotes for painting a 2 bed townhouse ranged from $1900.00 to $2600.00. I had some time and did the job myself. You need 3 different paints, white for ceiling, a full colour for all the walls, and white gloss enamel for stairs(wooden)doors and trims. It cost me $650 in paint and tools. That included a 12 foot extender and cutting in tools.

Next…[Read more]

Go to another lender is what I think as well.

Last year I bought an IP for $100k. Could only get a 65%lvr loan so got that and did the deal. 3 months later my broker suggested that a different lender would now lend 76% on the same IP. Greedy me say do it and I got 32K out(put $35k in to start)and the house was revalued at $120k
not 100k. So add…[Read more]

I have another good one for you and as Im new to this Im not sure how much I’ll be listened to. I have had 3 years great dealings with several lenders all through Dennis Mrljak of Smartline Home loans in Parramatta. Only 1 deal in all that time has he not been able to do. I went elsewhere for that and was soon back to Dennis.

Call him on 9630…[Read more]

another sad agent tale for you. A friend of mine had just agreed verbally to a price on a property in Qld. Signed the contract and was waiting for the vendor to sign when another agent getting wind of the deal got in the vendors ear and said they could get another $15k. Vendor didnt sign.

DD

Congratulations, you have passed the first test, ANALYSIS PARALYSIS!!!Now you feel suitable confident, do it, make the usual errors and streamline from there. Happy hunting.

DD

Ok so you have a bank, you need 6 or 7 with other finance options. Have you used low doc loans? Try whatever works through a broker, and feel sorry for your old, crinkly, 1960’s mindset old bank.When they loose enough customers this way they may just wake up in time.

DD

just seeing their recommendations and the 3 month trends in data state by state. Good starting point for beginners. I just like the site. Not to keen on some of their property though, just the data.

DD

the local council, dont forget flood lines as I faced this recently. A property of mine in Ipswich is 1/4 acre narrow block with 2 street access. Initial response was ok to build second house, further search showed 100 year flood line didnt allow anything more than a big shed.

Good rent though.

DD[buz2]

HI, I can sympathise. Wife and I turned up tp ANZ and asked to use the extra $210k out of our 7 properties with them to buy more. They laughed at us. We went to Suncorp and its the best move we made. Got the $210k, used as deposits and added 6 new properties to portfolio in May last year. The 6 new ones then gained $223k in 6 weeks.

Good broker…[Read more]

yeah, just a thought. its completely self contained with a nice sunroom too.

Hope all goes well for you and you find some wonderful solution out there.Family is so precious, I know because I lost my mum 20 years ago a week before mothers day. This time of ear sucks for me.

DD

For the business cards go to vistaprint.com as they give you free cards and you just pay for the postage. About $9.00 US. takes 3 weeks but the cards look great. Use the US site not the Aussie site as you only get 100 free cards on the Aussie site not 250 like the US.

Good Luck.

DD

Used to manage 1 of our properties, never again. Tenant tries the im poor scam a few times and we had had enough. All thru agent now. Their headache chasing rent not mine. Small fee= piece of mind.

Concentrate on investment buying instead. Also, 10 properties thru 1 agent means 1 x DD/fn not 10. Easier to manage too, statements via email from…[Read more]

Guys, I like Minimogul am not qualified, have no training and do not report to either. But I usuall can work a calculator and see if there is room to the “vanilla’ 80% lend most banks will go to. Trust is two way so yeah Im researching the PS146 compliant courses, (which Ill travel interstate to do in a months time) but I dont want to miss several…[Read more]

Rebecca, what state are you in? If its Qld I have a nice house witha 2 bed granny and a pool. Currently rented out but all things can be looked at.

DD

August 2002 I got a 4 bedder house in Perth for $91k and a 3 bedder unit for $70 k. Now worth $135k and $110k on bank vals, which means add $10k + per property. Its a slow state but a steady one.

Infrastructure no matter where it is, is what sustains the growth when whims and gossip wont.

Dont rely on media, rely on real research, your own.

DD

domain.com.au, property.com.au, hit all the real estate pages like harcourts.com.au or raywhite.com.au then go to google and type in realestate.

quartile.com.au is great for info on the market and some investing too.

Go go get em.

DD

wow looking in Vic for positive cash flow is not what I call a good start. Same as Sydney unless you have a massive deposit for the main centres you are looking for the imaginary needle in a haystack.

Look north south west and across the sea.

Qld, Tassie, WA and NZ

Dont be scared, its out there.

DD

Yukko, i hate vendors like that. If he has an exclusive contract with an agent to sell his place now he has to pay them a commission even if he sells it himself during the usual 2 months of his contract with them. If it is an open listing, only if he sells it through that agent does he pay them. So go get that house before the agent stuffs the deal.

DD