You won’t get a house in a reputable inner suburb for $300k. Maybe a flat or unit.

For a family home around the 300k range, I’d consider Boronia, Ferntree Gully.

Frankston South (in the High School Zone)

Edithvale area (near bay)

But you want to get a hold of at least $450k to buy anything similar to your description. Then try caulfield area,…[Read more]

You are posting just fine Cazza.

Heres a few ideas:

Advertise the 2br unit in Homebush for
“$530,000 WITH SPECIAL 4% FINANCE (for first year).” Just get agent to whack a 4% financing bit in the ad. Make sure it stands out.

The buyer will still get his normal financing from bank which would be about 7.5% at the moment.
He may borrow 80% LVR…[Read more]

More yield. more work. Make sure you have the time, inclination and are in close proximity to the property if you truly want to take on the potential dramas.

[juggle][juggle][smart]

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Lifexperience

“fist post”

WTF?

I thought I’d stumbled across something sinister and sexually deviant.

…and felt it was my duty to extinguish and destroy such filth.

Christian values AHOY…….!

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Lifexperience

why do people post here of their dire circumstance. Request help and then vanish off the face of the earth.

So many people ready and able to assist and support and ……. vanish??

Alien abduction WTF?

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Lifexperience

Get a good broker to shop around. What one bank says is a close call, another lender will piss it in and give you cherries on top..

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Lifexperience

Great, less running around for you and the purchaser has an emotional attachment…….. he found it!

otherwise no difference

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Lifexperience

kmiddlet,
Thanks for your indirect retort that was dripping in condescending disdain.

However..
Your example is not relevant to my statement.

Building and selling property is a good way to make money(and a lot of work and effort too), but it’s a totally different issue to the selection of an investment property for long term capital gains.

And…[Read more]

5 mins MAX to get licence

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Lifexperience

C suck

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Lifexperience

Sorry, had to GEEK it up for a moment. I’ll shut up now.

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Lifexperience

When I read this, I think….. “Man, get some REAL problems.”

Then I think about my own gripes and complaints, as i slowly become a grumpy old bastard, and I’ll bet there are people out there that would think the same of my own insignificant dramas when compared to their life challenges.

Innit’ all relative?

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Lifexperience

Instead of dropping the prices. You need to make it EASIER for someone to buy.

Try offering a deal with some finance (ie: you vendor finance part of the sale to make it easier for them if they have no deposit. You offer a 2nd Mortgage)

Or you could offer to discount their bank loan to 4 or 5 % for the first year. (just put some of the sale…[Read more]

I think it is widely accepted that you will get greater capital gains from an existing property in a good location as opposed to a new property in an estate EVERY TIME…, when comparing properties of similar cost.

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Lifexperience

I was running share houses with similar pos. cashflow figures as you’ve posted here Jaffasoft.
I am now just running straight rentals at neutral gearing.
Too much extra work and risk with not enough extra yield for me personally.
3 -4 times as many tenants, 3-4 times as many vacancies and 3-4 times as many problems.
Cashflow pos. properties at the…[Read more]

Turn up in an old bomb and ripped bogan clothes and explain that you have the money toaday from an inheritance/lotto win. However you are about 50 grand short of the asking price. But want to buy it today.

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Lifexperience

If you push the issue and the tenant gets annoyed, then they may refuse to pay any rent and then you have to wait until they are at least 2 weeks behind before you can even ask them to leave.

If they are spiteful, they will pay at this point just enough to bring rent up to date. Then let it go for two more weeks.

If they push the issue and have…[Read more]

Be wary of Real Estate Agents, they are not always 100% on your side. They often side with the buyer to get a lower price from you than what you wanted.
Any sale is a commission to them, even if it sells below value…..

….be warned.

It is also worth reading some of “Neil Jenmans” books to open your eyes to the dangers of RE Investing.…[Read more]

Centrelink are notorious for missing/losing payments, and the Tenant can cancel the payment at any time without informing you.

You must still keep a close eye on the payments, not a set and forget strategy by any means.

I have used the centrepay system, it is ok for the most part.

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Lifexperience

Is the ANZ Loan able to be transferred to another property. I have heard of loans being “portable”……. this may avoid the $700 sting??

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Lifexperience