AllWhat's with human nature these days.  I thank Steve very much for his books. I first became a property investor when we were moved for my husbands work.  Thankfully our PPOR rented very quickly and for a good price.  This got me thinking, so i went to the bookstore and found Steve's book 0-130 properties.  This was the start of what I call my…[Read more]

James,I'd report him because the next person he changes a contract on might be someone not so saavy as you and might get financially hurt out of it.  JL

John,Your local council values your land for rates.  Ask them?JL

Jon,Why are you selling?JL

I'm with you Tracey, unless you are intending to buy at Auction, just sign a contract that is conditional.  Jodie

Does anyone know if I do a reno in Vic that required a qual builder can I then do one in NSW and then in QLD.  That is, is the legislation only state based and doesn't cross borders? Or if I do one in  Vic, I can't then do one in Vic or NSW for 3 years and QLD for 6?Thanks,JL

PosEnterprises wrote:
well affordability would be nearer if these people stopped wasting money on brand new cars, plasmas, and all the like.  I still have my TV which is close to 18yrs old a card which is 9 years old. i go without because my investments are more like my health insurance when i get old!  alot of people forget we only need food, s…[Read more]

Thanks foundation.  You are right, I am a capitalist. I guess I feel like I want positive people around myself and my children.  Negative people have lead me to whinging in the first place.  JL

Scott no mates,Yep, Thats why I am willing to spend $44k on a property.  This town also has a good size hospital and school, that has transiant staff that want to rent.  Looking forward to settlement on this one.

I agree, but didn't he have about $40,000 already.  And once he had bought the first IP, he was then making not only income from the business, but also from the first property and so on and so on.  I think most of his first few homes were around the $40,000 mark weren't they.JL

Foundation,You make some good points in your discussion about percieved value.  I tell you, that I do not see the houses we have purchased as cheap.  The only reason I have chosen these particular houses in these areas, is they can offer myself and my family a return immediately.  The last place I bought, last week, is actually very rural – 16…[Read more]

Thanks for all your support.JL

To partially answer your questions, Steve saved deposits by having his (although limited from what I have read) and his partners income – as accountants – to purely be used on investment.  He and his partner – David Bradley – lived from the wages their wives brought in.  So if you think about it, unless you go into business with someone, you wo…[Read more]

Milly,Thanks for your support.  You know when I first became a full time mum, I was criticized.  I went back to work PT to help pay a few debts that the hubby and I still had from single days (mainly him with cars and me motorbikes), and was criticized again from another group of supposed friends.  I am now being judged as a capitalist because I…[Read more]

Nice Dave,I'm yet to have the courage to do this.  Maybe a year or two.Well done, they look good.Jodie

Snowflake,I think foundation is right, but having said that hear is my 2cents worth.I get from your post that you are reluctant to sell anything.  If I am right, is there any way you could restructure your IP loan to interest only and put the extra money into your PPOR.  This should help, especially if interest rates rise, as your minimum co…[Read more]

Chris,If you are that desparate for money, why not get a part timer on the weekend?  Better still, why not join the Army reserve.  The income is tax free, you will be helping the country and it would not take long to save the $7000 you say you need to buy.This is legal and you can have fun doing it. Jodie

The other option is to ask the tenant to agree to break lease.  We did this so we could sell a property with vacant possession.  The Tenant and us, as the vendor, agreed to break the lease on the condition that we paid the tenant an agreed figure as compensation for the cost of moving (phone reconnection etc).  Our Agent looked after all the fine…[Read more]

Milly,I had the opposite. We have been lucky that we rented a house to a third party.  The guy they put in it trashed it after only 6 weeks.  We got paid rent for the next 6 months while the $49700 worth of repairs was done.  We didn't even need to ask. The guy was evicted but got arrested and put in jail for another incident prior to all the pa…[Read more]

Jason,I have had a quick look on the net only.  There seem to be a lot on offer to rent at the moment.  Is this a trend for the area?  Maybe vacancy rates might be a problem?  Jodie