Peter dont give up so easy. I bought my first property at 20 while earing about $25Kpa. I was a tight arse 100% of the time while saving my deposit. I was fortunate that I could live at home for free up until I bought a place but I also worked hard to save money.

I used to ride a bicycle to work in rain hail or shine to save $3 a day on petrol.
I…[Read more]

Wylie is right. A contract already signed by you with a deposit already paid to the agent is much harder for the seller to say no to than some sound waves in the air. Even if the seller verbally agrees to your verbal offer either of you can back out in a heart beat.

Sign the Contract. Put in a finance clause and a building inspection clause.…[Read more]

I would give an offer maybe even lower on a contract with a deposit. A seller can’t really say yes or no until he has the chance to sign off on it.

I would put on the contract the settlement terms that you ideally want but tell the agent that you are fairly negoitable to suit the seller. By giving the seeler this opportunity he may decide to…[Read more]

I set up a trust and a company as trustee about 18 months ago against the advise of my accountant. I only have 1 ip in the trust and really cant see an advantage. Just some higher accounting bills is all. Maybe when I get more ips it will make more sense but at this stage I have to say that my accountant was probably right and it would have been…[Read more]

Thanks brc. I am glad I am not the only one. Where would you go to learn about property funds to start off with?

My confusion is mostly due to the fact that a property I purchased last year is coming vacant soon. It will lease for $38000net pa or will sell for abou $650000. If I keep it in two or so years I will be getting a 10% return net on…[Read more]