Thanks Barney, good advice.I have found a bunch of CF+ properties due to their depreciation.  It did take some homework as you said so I agree with you fully.  I didn't get them as a free lunch.Oh, and grats on getting to a place where you can start getting into it.  I love to see how you go!

Hi SemethaI'm not an experienced investor but I know where you are at.  I'm in a situation where I have one IP with about 200k equity.  My plan is to draw on that to renovate/develop or somehow improve properties to sell quickly for profit.  I plan on continuing this until I can have my own house paid off and have a growing amount of rental pr…[Read more]

Just two notes:

Management fees are closer to 9% of rental income and…

Valuations must be done by a valuer NOT A REAL ESTATE AGENT!! Agents are not qualified to value anything.[crying] They can only give appraisals. Appraisals are what they “reckon” you can get.[cigar] Sometimes this is not even anywhere near the mark (for various…[Read more]

A bit of encouragement![king]

Great to see you taking heart and going for it Romina!

I was in a similar situation to you three years ago. I was on about 33K salary and only had PPI.

I got sick of not being able to do something so I changed careers, moved to a mining town and now I have about 150K equity to invest with, a salary that will…[Read more]

Thanks Marc

I’m basically looking at the two cheapest houses in a niche area that has lots of houses the same. The asking price (as far as I can see) is based on the presentation of the house and those around it.

A house across the road sold for 60k more than what they are asking for this one with the only major difference being a pool.

The…[Read more]

Whoops, I can’t get it for some reason – “Still being developed”

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional.

Sounds scary when you say it like that but I have two thoughts:

1) I can only see the banks calling in your debts when a depression hits and property prices start to fall or stagnate to the point where they start re-valuing homes with high debt-to-value ratios.

2) Surely these plans can be modified to smoothly transition from ‘living off your…[Read more]

I have spoken to two people who have rendered their entire house for under $500. I have also read in a forum that someone did it for $150 not including paint.[exhappy]

I have a practical suggestion if the bricks do come out about half a brick from the wall:

Hire a brick cutter and cut the juts off. Ask a tradie about it at your local…[Read more]

Thanks Chris and Mortgage Hunter.

I think I’ve decided on starting on a plan. I seen a few other guys plans and I’m astonished that after years of not being able to do anything due my circumstances, I haven’t used that time to design a good plan.

[withstupid]
I’m going to rifle through some other forums about people’s plans and the pitfalls,…[Read more]

IP was my own home for 5 years. I have moved to a mining town and therefore I cannot duplicate what I have done. Unless of course I want to retire when I’m 90.[whistle]