Hi Serfguru

Not a +CF property at that price.

Keep looking and you’ll find something that fits.

For us to consider properties, we also do Steve’s 11 second test – which means you would need to get the property at $195K. Unless you’re a really good negotiator probably best to find a better deal.

Good luck!
Jenny

Hi Matt

We prefer to have PM’s as saves the hassle of having to worry about the day to day matters and we don’t have to have any direct tenant contact. If there’s a leaky tap or broken window etc we know the PM will take care of it with a couple of phone calls.

If you have lots of time up your sleeve, then you can try and give it a go. But you…[Read more]

Henry

Definitely out there – just need to do some good old research and negotiation. Unfortunately they don’t all fall into our laps, sometimes you have to make them happen ie renovations, building relationships with locals, agents, council etc.

Remember, not all +CF properties are advertised either, so if your contacts are good or in the right…[Read more]

Hi Yasna & Simon

$100K plus development costs is a lot of money. If I was you I would be making sure I do my research to make sure there is definitely a demand.

The last thing you want to find out after spending 6-12 months developing that you only get 20-30% occupancy.

A couple of other factors/costs you should probably consider as well…[Read more]

OK. Thanks.

Hi TwoBob

Actually believe it or not, you actually do get by, whether they’re planned or unexpected. It’s like when those unforseen bills come in and you wonder how you’re going to pay them as you hadn’t budgeted for them – but somehow you manage to pay them and still put food on the table and clothes on your back. And like the other elist…[Read more]

Hi Lalonga

I would try contacting your local council in the area and ask them as they should be able to give you the majority of information.

Depending on the location, there might be other factors to consider such as landscaping etc as well.

Suggest creative housing STCA I saw a train carriage with 3 br, kitchen bathroom everything, for 23k. Maybe buy for 18k, spend 5k reloactikng it, even then you will need 100 per week plus for a good return. Or maybe look for a house to relocate?
Or maybe just forget you have the block and buy an established house.

Roy

YOU MEAN PEOPLE STILL GO TO THE BANK BRANCH?

GET A BROKER!

You wont know your self.

Jenny and Roy

Read the section in ‘0 to 130’ on Cash on Cash Return and look at the scenarios that Steve provides

Michael,
We are aware of the property you are talking about. It is in Gulargambone. This is the second time it has gone to contract, first time it fell through.
The property is rough, and needs a little more than paint.
Gulargambone is not an area we woud buy in as it does not have the qualities we are looking for in a town. I wont deny however…[Read more]

OK, I will give you the good stuff.What you can do is contact the council, get the list of properties that are coming up for auction. You can access this info months in advance (will include details of last owner). I have a good relationship with a few people in different councils and they are happy to give me the phone numbers of people who are…[Read more]

Hi Dazzling

I understand you are frustrated but if you just keep in there, she might get interested.

My partner was talking about property to me from the day we met. I didn’t have his motivation for as I knew “Yes, this is what you want to do BUT how are we going to do it without us losing the lot?”. When kids are involved it can be harder to…[Read more]

Hi Michael

Yeah we know, pretty good isn’t it! We actually went to some auctions prior to xmas in the hope to get a couple but as usually happens (much to the real estate agents hopes) everyone gets caught up in the auction and it goes over the price we set for ourselves.

I commend my partner though, as he goes there with a figure in mind and…[Read more]

Hi jonbren

We’ve only read Steve’s “From 0 to 130 Properties in 3.5 years” and “$1M in Property in One Year”. Out of the two of them we found the first one more informative – both great books but we found the first gives you an excellent understanding of things.

With regards to the other resources, not sure as couldn’t get into the online shop…[Read more]

The properties are located in regional NSW in a small country town located 45mins from a major town centre that has boomed considerably over the last year.

With the town in question, we actually purchased 2 of the properties just before the increase in prices started (about 1 month actually) – the average price for a house in the town now is…[Read more]

2 x Freestanding residential houses
1 x Freestanding shop (on 1 acre)
And yes – in the banks eyes they are ‘country B’ wich i believe is the worst rating an area can have.
RE: The centrelink benefits, it has created a demand that is often not met by the supply – hence the good return.
I am sleeping well at night, I have specialised in a particular…[Read more]

There is really no limit,
We bought a community hall for 35K spent 45K and will sell for 165K
We bought a hall and will sell a 4 br home.
There is the 2-3 3-4 br tick.
There is dual occupancy
There are “fixer uppers”
where does it end?
What about asking council for a copy of the properties coming up for back rates auction? This has had some great…[Read more]

Nathan210,
It is in our local (oz) area (of nine months), we know the market, we know the demand.
Lots of people want to live here because it makes access to centerlink benefits very easy. Since these people also get a subsidy, our returns are pumped up.
Here are the three secnario’s in our town:
1. Cost 18,000 retun $80/wk
2, Cost 42,000 return…[Read more]

What like the sort of info they would require to do the deal and not involve me at all?
If anyone wants more info, they can contact me. I am happy to provide info, but I dont want to increase my competition in buying the property!.