Well done. Good advise for the newbies.
Important note; Speaking from experience on both sides of the fence, When starting out have your property managed by a real estate agent and have the contract state that trades men are to quote all repairs / maintennce above $250.00. If you set your price to far below this you will end up paying more as in most cases the trades men will have to make a return visit and cover his extra time, the average call out charge in real money is $88.00 per visit. When the price is set to around $250.00 you will find trades men charging less as they dont have to down tools and quote, and loose time in return visits and corespondence liasing with the estate agent. Another goood point and I have done this on many occasions when carrying out repairs for my customers I round down to finnish under the $250.00 cut off. Lets say the job is worth 320.00 I will round it back with a discount to 290.00 this saves me all the hassell and the risk of loosing the job to another company. The tennant is always happy because of the discount and the real estate loves me for bringing in the job under the quote level and this saves them time and money. Many may not agree with me but remember I speak with experience as the tradie and the investor.
Good luck to all
Glauco[biggrin]

130k is a great start and if used properly will fire you ahead. I would look at using most of the 130k for a bricks and morter purchase, leave a little in reserve. Now you will be able use the equity in your new purchase plus the rent you draw to increase your borrowing power. You now have equity plus extra income to borrow against. Also a word of worning and please this does not apply to all, be verry carefull of attending seminars on P.I. Ive seen a few friends ripped off and others completely confussed. Good luck.

[]Hi all,
My last purchase was listed on the market for over two years, Brineen and I had recently purchased our first IP in my name so we still had the first home byers grant for Brineen in stock. The property belonged to a lady that was now living two doors down in the same street with her new found love, and so the property was empty.This home was the worst looking home in colour that you will ever see, made of weatherboard with a iron roof, large block, reserve at rear, close to shops, school ect and in the best street in town but the colour silver and pink and no investors in sight, lucky us. Time rolled on and we watched until the owner decided to repaint, so as the job was done roof and all we pounced with a 35,000 offer, the asking price 49,000 value added 55.00. Settlement 38,000 rent per week 110.00

[]Hi Ronulas,
I am new to IP and have only done 2 deals, in both cases the Financer required the town population to be over or as close to 10,000 as possible. I believe even 5000 or so would be OK providing the township or neiboring towns have good employment figures and solid inforstructure.