Thanks Dazzling

what about a deposit?

When I buy residential I put down a $1000 deposit. What should I offer for a 1 mil + property?

Karen

Hi Kerwyn

Thanks for your reponse.

I’m (obviously) new to this game so I don’t understand completely how that works. It seems like a catch 22 situation to me. Why do work on a place unless the contract is unconditional ( which would mean finance in place) and how do you get finance in place without doing the extra work to increase the…[Read more]

I thought I’d throw my two cent’s worth in and give you the definitive answer.

As a former prosecutor I can tell you that artificially inflating the purchase price of a property to get greater finance is, as has been pointed out, a fraudulent act by the purchaser upon the bank/financier. If the vendor is aware of the artificial inflation and…[Read more]

I own a house in a mining town. I would not buy another one there.

My house is structurally excellent and I have fantastic tenants giving me about 10.5% return.

BUT the property management is absolutely awful. I have to call every month to find out why the rent hasn’t been paid into my account, the PM told me that she has 15 minutes to do all…[Read more]

Hi Zucan

These are just my thoughts on the questions you have asked. I have been investing for about 18 months and have only residential properties to date.

Commercial property has higher returns but also higher risks. I have found that the location of commercial property makes all the difference in assessing risk management. Unless you know…[Read more]

Thanks for your advice Jaffasoft

Actually I already have the book, I just didn’t realise that the discount code was in the back!