PP = Planning Permit

DA = Development Approval

Cheers

D

Hi Liza,

You can change agents. A lot of people feel stuck with an agent, but remember it's your property and your money, so your choice on agent.

How many opens has the current agent held, how many times have you spoken to the agent in the last couple months?

It's important that the agent knows you, and they know you mean business. I'm on a first name, 'get a call in the first 5 mins of a problem' basis with all my agents. They know I mean business, they know if something is going wrong to make contact asap.

It's important to have a good working relationship with your agent and that they don't just blow you off with excuses. They need to be actively working for you.

Also with regard to the fees, they are negotiable, if you want to change but feel the fees are too expensive definitely  negotiate. Ask what service you will get for the higher price, tell them what fees other agents in the area are charging, tell them the fee you would be willing to pay.. etc

As far as the furniture goes, ring 3 agents in the area and ask them what sort of rent the property would attract with furniture and without. If the furniture is limiting your rental potential, sell it on Ebay.

Good luck, let us know how you go

D

Hi Coutts,

This sort of thing takes time (and spruiking).

Generally speaking a market will stay flat until people start talking about it, magazines, other investors etc. Then as interest grows it will attract spruikers who will buy up property, then talk it up. Then as the market gets hotter, mum and dads will come in, often buying at top dollar. Then the market will find itself in an unsustainable place dollar wise and prices will come down, either due to over supply, or cap on rent prices by mining companies etc.

This sort of 'hotspotting' is investing based on chance. You take a chance because the housing is reliant on organic growth and there is really nothing that you can do to make it more valuable.

If the town has strong fundamentals, other employment, infrastructure schools hospitals etc, you can sit back for how ever long it takes, and in property 2-3 months isn't long.

Have you already bought? Maybe have a think about what else you can do with your money, or if you have bought.. wait……?

Cheers

D

I think the old site was a little limited to what could be done with it. This site has far more scope to have a lot more content and heaps more interactivity. I would have liked an email to go out too, just a 'hey gang, site'll be off for awhile' but I think most users got the idea that major maintenance was going on. Like about a billion people who whinged about the Facebook upgrades, there will be people who wont be happy, but they'll still be here…….

I think it's important that users give real and constructive feedback to the team, the website will only get better as people pick up on things that work or don't work.

Cheers

D

Hi smartcube, (and all)

Lotta good info here, you can read through old posts, have a look at some of the articles here on different types of investment. Grab some copies of API magazine and YIP magazine. Have a look at some books, there are a couple of great ones by Steve McKnight. Margaret Lomas also has one with 20 things you should look for in an area for it to perform well long term.

Start talking to some agents in the area, go to some opens and have a look at what is on the market, walk through some rental properties as well. Compare the prices. Start talking to a mortgage broker or your bank about what you can borrow, and what the repayments will be. Write down all the costs that you will have and work out what rent you will get per month and year.

The idea is that you are not out of pocket every month.You can have a more sustainable property investment being able to hold it long term, as it will pay for itself.

Good luck, let us know how you go, we were all there (some still are) at the very start and it was just as hard for us to get going, but the main thing is that you do as much research as you can, then make a firm, well thought out, strategic decision.

Cheers

D

Yeah, We're a retail family, and it's a tough crowd! Wouldn't surprise me if they did a rate drop in Nov. I don't think rates are having as much influence on the average punter as government actions, petrol, gas bills (I got a grey hair looking at our last one) etc.

I think government stability will drive consumer spending more than the interest rate tango.

Cheers

D

Thanks Admin!

Anyone getting the property investing thread subscription emails? I haven't had any yet…

Cheers

D

Oh oh, I just found a glitch, it turned me from being a Level 7 Mayflower  to a Level 1 newbie Oh no, I love all the rewards!!

Please Admin, turn me back! lol

Cheers

D

It'd be interesting to see the stats on newly built houses/townhouses.

There's generally a time during handover where you go through and sort out with the builder every niggly little thing that needs repairs. The builder then organises to have these things fixed. I guess that's also where the builders warranty comes in too.

I'd think if there were glaringly obvious things that weren't fixed at the start, why not? If you can't see it until it happens, water leaks behind walls, it can't be fixed at that early stage. Even The Block had water leaks left right and centre and think of the money they threw at that!

It's buyer beware, plenty of people have been caught out when there is not enough money put aside for repairs to common property.

Great input LeonR!

D