Hi all,

This is a link to a current thread re books to read https://www.propertyinvesting.com/forums/property-investing/general-property/4333118

Hope this helps.
Andrew

I bought the right property (i missed some better ones but that's life), in the right place, with the right strategy.

I didn't:
Negotiate hard enough at time of purchase and probably paid about 10k above what I should have even though the numbers worked.

Set up the property in the financially best way for taxation.

I did:
cross collaterlise my IP with my PPOR so had a few headaches at time of settlement.  I also placed an unnecessary risk with my PPOR.

Andrew

Broccoli2, who was the builder?  And which side of town do they do their work?

Hmmm.  Interesting.

I'm in Melbourne and up until the start of this month (when I sold the property):
1) I was paying 6% (+gst)
2) 2 weeks rent for letting fee – period
3) $0
4) $0
5) $0
6) tenants responsibility.  I believe some landlords will add this to the rent as part of the lease.

So …
1) it was not the norm for me.
2) I had to ride the PM a little to get the inspections at times but they were done.  All part of the service as far as I was concerned.  Being a PM should not just be banking your commission each month, you should expect them to do something.  I'm surprised they aren't trying to charge you for arranging maintenance (from what they were telling you)!
3) I didnt do it but I have heard of some that do.  I suppose it's personal preference.

Regards,

Andrew

Does it have to be an arborist or are there other people who can prune trees?

Can anyone also recommend someone in the south east?

Congratulations!  It's always good to hear a success story.  Good luck with the next one.

Andrew

Hi James,

Welcome to the forums.

One thing that will help focus you as well is to work out what your goals are.  Do you want a certain lifestyle, retire by 30! etc.  To do this do you need to earn passive income, build wealth, or get some quick cash?  I know at 20 its hard to figure out what you want to do but you have obviously thought about it enough to get involved in this forum.  Well done, and I wish you well as you sort through your investment maze.

Regards,

Andrew

Does anybody know the 'reason/purpose' that gets the highest valuation?

Andrew

Hi,

Sorry to hear about your predicament.  Hopefully it will be resolved very soon!

A point to consider is that from the photos on the website the kitchen and bathroom doesn't look updated at all.  Plus a picture of a toilet!  It doesn't entice me to pick up the phone from that angle. 

What other advertising are they doing? Is it just an add on re.com?

Is a 15 minute inspection time slot normal – it wouldn't take much for someone to run a little late and decide not to attend.  Also 3.30-3.45 on a Thursday seems a pretty unhelpful time.  School pickups would kill the option for a lot of families.  Perhaps something closer to 5pm – for 1/2 hour – would work better.

Over the past two years I was letting an old 2brm house on the edge of central dandenong (walk to the plaza) and close to transport and schools.  Quite an unappealing house actually but it was always tenanted. My property manager was RTS and they were ok.  Communication was a bit slow but they tenanted the place twice for me over 2 years in quick time.  I've also heard that McLennans is meant to be good – but dont quote me!

Good luck.

Andrew