A. Look at the potential reward of investing in property and similar (motivation and goal)

B. Consider the worst case scenario with each step (risk analysis)

C. Never give up (basic success formula)

D. Smile (Very Important)[]

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Lifexperience

There are strong inner city suburbs in Melbourne still getting 10% capital growth annually.

The rental yield is about 3.5%.

I would negative gear these properties if I had half the chance.

These babies are making money. You only need about a half million to get in.

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Lifexperience

Deposit bonds are like loans, in that they have a few requirements before being approved. (like approval of your first mortgage before they will issue the bond.)
And in my experience the bank doing the mortgage aren’t very good at meeting deadlines for approval.

I’d suggest you have bare minimum 14 day period clause in which to obtain a deposit…[Read more]

…………how about the list of empty houses. Can you imagine what it would be like to finda vacant one of yours on the list?

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Lifexperience

Maybe consider a “Listed Property Trust” shares with your money.

Good returns and capital growth.

Otherwise $10k won’t get you much, maybe a $60,000 investment property which might be cashflow positive…just…if you can find one. But you may not get capital growth.

You could combine with FHOG to get something to live in yourself. You might…[Read more]

I use Quickbooks – Property Management ed.

It is pretty good as it will prompt you when rents or bills or bank payments are due. And can regenerate past entries to popup every month/week/fortnight. This saves you retyping things.

It can also print out in an instant profit and loss/balance sheet statements or any other info you could possibly…[Read more]

I got caught out by an agent showing tenants through hours earlier than they sheduled.

I was half crawling out of my swag which was in the kitchen and putting pants on, hair fluffed out like an afro, paint flecks all over and some clothes and tools and paint brushes everywhere……

The tenant took the place.!

One other time I got caught out in…[Read more]

I’ve heard that if you get a bit too creative with your tax deductions, and then get audited….. that your accountant can easily stand to the side and say that “they were never told about this” and “Oh, my client didn’t give me full details about that.”

Leaving you , the investor, high and dry.

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Dazzling, I would have thought that a man with your “don’t let anyone/thing stand in my way” attitude would use a 12gauge shotgun to blow a door out of the way………..

I find it funny that you would fumble around in the car for a little plastic gismo button.

:0)

yeah,yeah, I know, it’s for the wife![cool4]

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Lifexperience

Terry, I know ING Bank(Australia) sting the borrower for their legal service fees on top of application fee (and all the other stamp duties/titles office fees etc)……yep, they outsource.

I was surprised a bank this big would do such a thing.

It’s hard to argue after the event, and I got almost no warning that I would be charged such costs…[Read more]

ah….dammit.

The site now has a

“flood control activated you can only post every 60 seconds” lock that stops jerks like me causing trouble.

bah!

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Lifexperience

it

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Lifexperience

I thought each star was a warning to pull your head in……….

…But if that’s not the case then,,,,,,LOOKOUT!

I also have to own up to some very short consecutive posts that boosted me up to my second star.

Take 67 posts off me for credibility. I found that the moderator at the time removed my thread with multiple posts but the extra star…[Read more]

Aha but oh-damn moment in one. I just jumped into two LOC loans in the last month……bugger.

.

As far as I can see, You seem to explain things simply.

I think a lot of people who get into home loans for the first time would just nod their heads and say “yes,yes,yes,,,,,,,,,um…do I get the loan or not?”

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Lifexperience

It’s only $500 for a building inspection – request an estimate of repairs needed for the “termite damage”.

This will tell you where you stand with the building.

The vendor is taking it off the market? I’d ask why. I’d also find out if the RE Agent actually put your offer to the vendor. This smells like an agent doing his own deal behind the…[Read more]

beautiful

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They can be high maintainance, as opposed to a wall or a floor.

Lots of moving parts that can break and tenants claiming that the remote doesn’t work anymore (cause they dropped it) can lead to problems.

I personally wouldn’t bother for a rental..

Unless that kind of property was expected to have a remote garage. ie; targeted at inner city…[Read more]

yep, different accounts!

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Lifexperience

Simon. Oh wow, so is that why an offset is better than a line of credit. So simple :0)

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Lifexperience

Great Link, thanks mooki.

Would you have any advice for people who have worked really hard to acquire assetts and then have gold digging partners take all?

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Lifexperience