Hi OPM, no, I don’t but maybe Westan could help you out. I’m sure he would have a lot of contacts. I also invest away from home (or I keep moving away from my investments [?]), and I try to make contacts and find reputable tradespeople at the time of researching/purchasing a property.
Hi Mustang
I don’t expect that will be a problem. With a 35% deposit, I think you can get a loan with no questions asked. There are some very flexible lenders around.
Good luck
Judi
You could try talking to your lender about incorporating those other debts into your homeloan. You could also talk to a mortgage broker and see what other options you have available for finance.
Personally, I’d sell the house (that’s over $200,000 you’d realise), pay off the debts, rent a nice house (for less than $350/week), and…[Read more]
Hi Jacinta
I can recommend 3 simple and easy to read books for a bit of background knowledge about the game.
1. Anyone can be a millionaire, Sean O’Reilly
2. Building wealth through investment property, Jan Sommers (not so simple but a ‘must read’)
3. 0 – 130 properties in 3.5 years, Steve McKnight
Not sure about the spelling of those names.
I agree with Suze about the maintenance. Also the insurance seemed high. Are there any cosmetic improvements that could increase the rent? Is there really no chance for capital growth? I sympathise with you. I’m not really attracted to properties that have little chance for capital gain. I also want them to be cash +ve as well. One property…[Read more]
Hi Melissa
I jumped straight in the deep end after reading one book (anyone can be a millionaire) and got lucky almost by accident. Since then I’ve learned a lot more and am more cautious. That said, I wouldn’t have bought that first property if I new then what I know now. Thank goodness for ignorance! [:p]
Regards
Judi