Hi Mick, seriously reconsider Terry's very generous offer of some non binding advice for the price of lunch. You and  your wife are in a great position and perhaps selling right now isnt in your best interests right now. For the price of a train ticket ($10) to the great car park that is Sydney…. From a another Novocastrian…..do it.

Yes as much as it hurts, its still probably worth it.If you keep the place tidy and in good repair it helps when you want to bump the rent up.The joys of owning an older property.If they continue to find minor faults then suggest they move to a more suitable place of a higher standard. They will hopefully get the hint and relax a bit.As for the…[Read more]

Re Mayfield, it doesn't  really matter. Its a big suburb and varies a a fair bit.  If you find the right property for you then go for it. I lived there for several years and loved its proximity to the city and beaches.  Bought a Conformador wagon and moved to the burbs.

Keep away from Windale, Gateshead and Raymond Terrace mainly.  Lower income and Housing Commission areas with subsequent issues.Hard to go wrong in most areas with a huge rental demand.

Hi Mr LV, PM me and I can give you some opinions on various suburbs.  

Not for me…unreferenced, repetitive, vague. 

Hi, why not just throw up a few individual questions when you feel like it ?  Your likely to get some response…..and we all benefit. Good luck.

Hi MJ,  I would suggest you take your Mum to Centrelink and get things in writing regarding your Nan going into and aged care facility. The laws have changed somewhat and are complex. The house is unlikely to be sold under market value. ACF's have seen it all and the laws are fairly specific. Your dealing with a private company (mostly) and they…[Read more]

Theres been a few….Took my eye off current rents and before long we were missing out on hundreds a monthPurchased OnTel shares……ok they may come good one day.

Hi Tony, plenty of pros and cons on self managing.Just a few thoughts. If you self manage then you will have to be very comfortable in increasing the rent when appropriate and be ready to be challenged by the tenant. ( and they will, especially experienced tenants)Do you have the time or want to attend a rental tribunal when a tenant challenges a…[Read more]

Well Dwolfe, why don't you let us know what your really feeling ?Do you honestly feel the property market will be effected by a Tax that will now only affect relatively few companies? Your pro-conservative rants are tiresome and lack substance. Actually the PM's name is Julia….get used to it because she will be around for a while.A female,…[Read more]

I'm unsure how much interest rates will go up as it depends on so many factors and all of them are out of our hands anyway. I did a quick calculation of official interest rates for the preceding 50 years and the mean is 8.05 % so were still off the mean by several points. Not that you are, but its a sign of an inexperienced investor or newby who…[Read more]

Hi, has she gone to another bank?Are the properties with the same bank cross-collateralized?Are the loans interest only? How long has she been at her current position and is it stable employment?Banks are much tougher now.. some friends of mine sent the bank their resume's after the bank questioned their application. It worked.Hope she shops…[Read more]

Any hints on the postcode? Mining town maybe? Come on the suspense is killing me…..

Your local council will hold records if it isn't too old. Our council only has them to the mid 70's. ( apparently) Probably only stored electronically till then. 

Hi Cathy. I sincerely hope you haven't signed anything. I agree with DWolf entirely.Alarm bells should ring loudly when someone cold calls …for anything, let alone a major investment decision. (I love my silent number )Theres' no free lunch and their product / package may be fine, however they are charging you a premium for the privilege of…[Read more]

Hi Sprunk. Forget about the agent, he's moved on.  Get a locksmith. It's a good idea to have all the locks changed anyway upon moving into any new place. I always have them changed between tenants.

Hi Luey, the properties were owned by one person and I believe were sold as a package of some kind. ( according to Steve on one of his DVD's) 

Hi Andrew, NO  NO  NO… this is not normal practice.People use REA and Buyers Agents to find them properties, however its a one off fee. Usually a percentage of the purchase price.Buying property isnt  rocket science, just read a lot, talk to people who have done it and lastly see a Mortgage Broker.Maybe aim a bit lower than 350 unless the ren…[Read more]

Hi Damian, wraps are not allowed in several states, that probably has something to do with their popularity. With no disrespect to Steve, many of the concepts in his first book are no longer relevant or applicable. Its a different world now.  Many RE commentators are grossly negative towards them. As Richard said they are time consuming.