No I don't 4wd as such, but I do regularly have need to go on unsealed roads that are often a bit rough or underwater or marred by giant speedhumps made by the Parks Victoria folks.

I have been wondering this myself lately.  Not because I am interested in getting involved with a body corporate investment property, but simply because as you say, eventually, the property would, as you rightfully point out, age to the point of needing to be torn down.  It's an interesting topic.  I'll be watching this thread to see if anyone knows the answer!

Personally I prefer to operate in a known market rather than one I hope will eventuate.

Some of the things you can do to understand demand are:

For rentals:

Talk to as many property managers in the area as possible, asking what types of dwellings are in most demand, how long they take to rent out, and what locations are more popular and why. Monitor the for rent pages on the real estate websites.  Note down the addresses available for rent, how many bedrooms they are offering, and the asking price.  Check again a week later and see which ads have disappeared.  If you notice a pattern that for eg 2 bedders all vanish within a week, you know they are getting snapped up.  Also go to lots of open for inspections to see how many people show up, and what sort of demographic they seem to be (eg students, young professionals etc).  This will help you with some of the understanding of what the tenants needs might be.  Also listen to what the prospective tenants are saying when they look through the properties.  Are they saying "oh yuk I cannot believe the kitchen is brown" or are they saying "oh wow awesome, there are lots of cupboards" ?

For sale stock:

Similar, but talk to real estate selling agents rather than property managers.  Watch the for sale pages on the real estate websites.  Go to lots of open for inspections (for properties for sale).

@derek… sadly yes.  And our society structure is encouraging it.  Can't be bothered to watch where you step?  Or can't accept that stuff happens in the course of being alive.  You might trip on an uneven bit of concrete.  Watch where you are going next time maybe.  Nope, there is the option of suing the council.  It's a disgrace.  Can't be bothered to work?  No problem.  We'll take more taxes from those that do work and give it to you in the form of benefits.  Carry on sponging.  Disgrace.  If such behaviours were not endorsed and rewarded in this manner, perhaps they'd be a bit less prevalent.

Hi VJ

Sorry to hear about your situation.  Sounds tough

Forgive me for not understanding entirely… but what has Centrelink got to do with it?  My understanding is that when applying for the disability pension, you are a couple is permitted to have up to $273k in assets, not including your own home.  http://www.humanservices.gov.au/customer/enablers/assets

Sounds like this is roughly what the unit is worth, so you might be able to keep it and still claim the pension.  Is there a reason you wish to sell the unit?  I gather you just want to clear the mortgage on your own home?

Hi Dave,

You would of course also need to understand whether you could service the loan that proposes to use this equity.  It's still a loan and has to be repaid… well the interest part anyway…

From what I understand of the situation, the owner of this property bought it against Cherie's advice.  It was then Cherie's dilemma of how to renovate it in a manner that added functionality for the owner, but also added value to the property itself.  I cannot understand why this lady (the property  owner) has chosen this course of action.  Nice way to say thankyou – not !! 

Cherie is a lady of great integrity.  She really does give all of her efforts to her projects, and also to her education courses.  I did one of her courses 2 years ago and was gobsmacked about the massive amounts of information she was on a mission to impart to her students.

I'm gonna have to say it.  What the heck is an "Investing Adherant"?  Wierd level names…

While the question of what to buy and where is definitely relevant, the matter of precisely what is done with the $130k, and precisely how you utilise the property you already have to leverage into the next one…. that's critical.  Talk to a good broker to sort this out.  On this forum there is Richard Taylor (userid Qlds007) and Jamie M.  They are both awesome.  You want to ensure that by the end of it all, you have as little non-deductible debt as possible, and have all the debt on IPs.  Navigating precisely how to do that given your own precise circumstances is the key, and a good broker will get it right, thus paving the way for you to leverage into wealth.  Use a bad broker and the lost opportunity to build wealth will be enormous.

Get in touch with Richard or Jamie.  They'll sort you out.

Hi rickim, I suggest getting in touch with Richard directly and asking him to arrange the finance for you.  The banks pay the brokers their fees, not you the client.  So if the fee worries you, put that out of your head.  It is sooo much easier having a broker arrange the finance.  They know which lenders to go to for your circumstance and the type of property you are wanting to buy.  Richard's a very knowledgeable operator… he's arranged three mortgages for me this year… one purchase inside a SMSF, one unit block, and a refinance of a freestanding house.