As with all things, applying a broad brush to a topic isn't always accurate.I operate a flat fee agency ($5,950), and as it's my own business, I certainly aim for the highest possible price, as this is what builds a reputation, which in turns generates additional business.I currently hold the all time, record sales prices in 4 suburbs in Canberra…[Read more]

TheCrest;Only expect tenants to be as good as your property.Don't accommodate the unemployed.I couldn't agree more with these 2 points (especially the first)

Trust me, it happens to everyone – I own multiple investments, as well as my own real estate agency (which they are all managed through).I'm currently dealing with 3 horrid tenants (in 3 separate properties) – they were highly vetted, fantastic tenants on paper, but once they move in they can, sometimes, turn into a nightmare.As with all things,…[Read more]

Haha – I understand completely. But you're playing with big sums of money, so it's best to start with a solid base of knowledge.

My two cents – start small. As with everything, learn to walk before you run.Take on a small extension reno (buy a 3 bed with a good land size, and ad a bed / ensuite / living space). This will give you a very good idea on construction + fitout costs. From here, you will learn some of the tools of the trade, and if you're very lucky, will form a…[Read more]

Caveat emptor  … buyer beware!There will always be those who can make the determination purely on location, photos, and building reports; but I've walked away from many a deal once I've actually been inside the property, whereas on principal I would have purchased.As Maree said, flights are cheap – and as a % of the cost of the investment, it's…[Read more]

I drive a 2006 BMW M3, and my partner drives a 2006 bright yellow honda S2000.Erik Tyler, Managing Director LIVEin Real Estate – http://www.livein.net.au

I agree with a few of the comments above – namely that 20% of agents make 80% of the money!My advice would be to work for the biggest, flashest agency for your first 12 – 24 months, you will have a level of training that will be unsurpassed. My initial training was with a company called Foxtons in London – the pay was fairly rubbish as an agent,…[Read more]

Hi Austin,I own 6 investment properties in Canberra, and my accountant is The Firm (www.thefirmonline.com.au).Call and ask to speak with Paul Glass or Andrew Eggleton, they are absolutely brilliant.We also own a real estate agency (LIVEin), and they manage the logistics of the business fantastically as well.I could not recommend them highly…[Read more]

Hi jtsroberts,I've just joined this site as I'm looking for other investors / real estate agent's etc to network with.By way of introduction, my partner and I own 6 investment properties in Canberra, and we also own a real estate agency called LIVEinOur property management division currently manages 290 properties, and we charge 7% management…[Read more]