Thanks for the further advise. Have been looking into it further and it seems that, for us, the most convenient would be using job numbers. Perhaps I have to “train” our accountant a bit more on job numbers?

Ray

To begin and not succeed is not to fail
To never try is to fail

Thanks for the reply. I had a similar problem as this with a business some years ago that had multiple streams and unfortunately MYOB staff couldn’t help, but I’ll try them again.

Ray

To begin and not succeed is not to fail
To never try is to fail

Thanks for your reassuring comments.

All applicants for the property had to complete Tenant Application forms and we checked employment, rental and personal references (of course all references were considered with some level of scepticism as, unfortunately, too often they don’t always tell you the whole truth!). In addition, as all applicants…[Read more]

We have a property in Donald.

Unfortunately these Wimmera towns are experiencing substantial decline at present and unless there is a great turn around witht he drought there may be more to come.

Homes in these areas can be quite inexpensive to purchase and some are obtaining great returns.

You do need to be extremely cautious though as many…[Read more]

Prop is in Victoria, hence, the need to keep room numbers below 5.

Ray

To begin and not succeed is not to fail
To never try is to fail

Thanks Jo,

For a while thought I’d miss-read previous ventures into RP. Will have a look see at Domain and see how I go

Ray

To begin and not succeed is not to fail
To never try is to fail

Thanks for teh responses. Much appreciated.

Unfortunately, the properties we looked at over the weekend (and only 1 was suitable) all worked out marginally CF- (around 0.07% for us) so we’ll be continuing the search.

Looks like we;ll have to go further from Melb than we had first thought necessary – but gives us great excuses for weekend…[Read more]

Thanks for responses to my query.

I appreciate that not everyone is after CF+ prop but we are looking to “concentrate” on these in short term to provide a “solid financial base” starting out.

I agree with your assessment of Melton values. Provided the property wasn’t bought overpriced as some PPOR ones are (even today) there is sufficient scope…[Read more]

Hi Jaffa,

I know this post is becoming a bit old now but only a “new arrival”.

Have just downloaded your calculator and without having chance yet to really play it looks very impressive – great job.

I’ve only received “Buyer Beware” yesterday and this is a comment /suggestion I have for Steve re that as well; there is no provision where…[Read more]

fjficm,

I admit to being new to all this (relatively) but I’ve been trying to work out how the property you mentioned in this forum is CF+. For the life of me I can’t. Would welcome any explaination as I’m currently looking for IP’s but with what appears to be much more +CF than yours. If I’m wrong and your prop is CF+ then I will be learning a…[Read more]

Welcome to the West World.

We’re in Melton and have been for many years.

Whilst prices have increased considerably since we moved here in about 1982, there are not many bargains (as far as Melton market in concerned) now a days.

My first house cost $46,000, second $66,000 (sold for $101,000 about 2 yrs later), third $163,000 (sold for $175,000…[Read more]

Thanks Steven

Ray

To begin and not succeed is not to fail
To never try is to fail

Thanks Derek

All much clearer and more comfortable. Trick now is to find relevant IP’s. Would you suggest having full extent of LOC available before searching or extend LOC once we’ve begun the journey?

Ray

To begin and not succeed is not to fail
To never try is to fail

Sorry to jump into this one folks but I’m now a little concerned that perhaps I’ve misunderstood our situation. (thank god we haven’t moved forward yet)

we have an existing line of credit of around $25000, of which we have used around $12000. As our PPOR was last valued at around $150000 i take it that we have un-tapped equity of $95000…[Read more]

At this stage just seeing whats around under teh “11 second solution” (rareties). Given our budget it would appear to be (at the moment) rural Vic or Bundaberg area (based on future proximity). we’re only kicking ourselves that we didn’t take some “gambles” last year when we were there as prices were around 20-50% lower. Oh well, “he who hesitates…[Read more]

Lizzie & Kay

Thanks for comments.

Planning to move to Bundaberg (had been Bergara until prices went through the roof). Loved Cairns when we were up there last year but bit too far from aging parents and other family.

Due to (unfortunately) changing circumstances we may now have to put our move off a bit. As a result we may look further to…[Read more]

isn’t it the responsibility of an astute investor to prepare for the changes ahead so that when the market falters he should be positioned to take maximum advantage? I’d be surprised if interest rates go over 10% within next couple of years but am working to place myself to capatalise on those that aren’t prepared for it.

just looking thru forum and came upon this topic and wondered whether there was a concencus on whether it was better to accumulate investment properties while renting or owner occupying. We too are considering a move to the warms and are undecided what would be best – sell our existing residence in Melb and rent in QLD while applying capital to…[Read more]