eviebear

A great place to start is here! You can do searches here on the forum for specific topics like FHOG, trust, loans, renos…etc, etc. Look under Furums for the Search topic…

So do a search and see if there have been threads in the past that answer your current questions. If you can’t find the answers, then start a focussed thread…[Read more]

Hello to all,

I have really enjoyed reading this post. I originally cut back on work 2 months ago to give more time to PI and am now going down to casual so that I can pick and choose my work and have as much time as I want for our investing.

I am inspired by the other posts and feel that we are making the right step forward. My husband and I…[Read more]

Housemender,

We had some really good advice along the way…Keep things quiet when it comes to your investing.

We tend to keep things to ourselves for the most part to avoid the negative reactions of others. We understand what we are doing and why we are doing it…We have our goals and stick to a plan that will help us achieve them….We keep…[Read more]

Dazzling

Good to hear that you have had some time to have a bit of fun!

I was in Jeddah for a year and left after Sept 11th. It all got too political and I was not about to stay just for the sake of money. I did leave with $10K USD in hand and paid off over $25K in debt…So it was all good.

And now, here I am…4 years later still in Oz…[Read more]

Dazzling

I spent a year in Saudi Arabia and let me tell you, there wasn’t a sign of any of our traditional holidays! So I know how lonely it can be, especially when you can clearly imagine the quantity of Eggs that loved ones in Australia must be consuming![puke]

My husband and I were in Turkey last year (a little more interesting than our…[Read more]

joshknack

We prefer clients to find the house they want and then we take a preliminary look at it before involve Building and Pest Inspections. We look at the overall location of the property, the neighboring homes, proximity to schools, shops, transport, health care and child care services.

If we think the overall location of the place is good…[Read more]

Hi joshknack

Vendor Finance is viable not due to location, but as a result of clients being unable to obtain finance.

So, if you are wanting to provide such a service you must be sure your client can afford the repayments to you and that they are a quality applicant.

We prefer to work with clients in regional areas because property prices are…[Read more]

momofthree,

I think some of the best advice we have been given in our PI adventure is to keep your plans to yourself. I guess there are alot of people who do not understand what you are trying to do and perhaps are a bit intimidated by your efforts to do something different!

We have learned that discussing PI with like minded people (our…[Read more]

I totally agree! (Maybe I am a bit biased…[inlove])

I think this forum is a great resource and that many of the long standing members put hours of their OWN time into helping others. In fact, for some of the seasoned contributors, they probably do not gain much from the forum except the satisfaction in helping others.

I know first hand that…[Read more]

Hi happyjack 72

I also looked into this a while back. I would suggest starting off with the local council. They should be able to walk you through the process step by step. They should also be able to give you ideas for costs of the application, the headworks, the parks contribution etc. Speaking to council will give you an idea of what else…[Read more]

Basil

When my husband and I were starting out in PI we went to a financial planner at ANZ in Brissie. The guy was really nice and gave us some reassurance that our plans were reasonable. The first consultation was free so you would have to investigate the costs for any services beyond that, but it is a good place to start.

Give your bank that…[Read more]

Basil

Good luck with your Property Investing efforts. I hope this reply gives you some ideas of things to work on now so that you are ready when that first deal comes along!

A few things to start working on include:

Set up a Structure. Find an accountant that has experience in Property Investing and set up a structure to protect you. You…[Read more]

Wealth Angel,

I think your example proves yet again (as described by Dazzling etc) that you most likely will NOT find +CF properties sitting around. They are created!

Well done on your hard work and for putting in the effort required to make this a real gem for you!

Good Luck,

Mapleleaf

Achieve the Dream!

Pepsi,

I agree with The Wizzard.

You have to look at what your priorities are and what your goals are in relation to Property Investing.

I work 4 days per week as an RN and my husband works full time. We spend most time in the evenings going over new developments and updating one another. We go out most Saturdays talking to REAs and learning…[Read more]

Hi vito,

You could try going along to a local Investing Group to network and to find some new ideas and support. You may find that after attending these types of meetings a few times that there is someone willing to take you under their wing! Or you may find the support from one of those groups enough to give you the encouragement and resources…[Read more]

basil,

I think you are absolutely right. As investors, my husband and I try to create a positve outcome for all parties involved…the real estate agent, the client, us etc. We feel it is extremely important to be ethical in order to move forward in Property Investing. We work in a professional manner and in return are treated with respect…[Read more]

Another quick read is “the Weathly Barber”. It really gives an overview and is told like a story, so it is a quick easy read.

Good luck and Welcome to the forum!

Mapleleaf

Achieve the Dream!

Just to add to my previous post and to clarify…they do not have to write an offer contract but they DO have to at least verbally pass on any offer to the vendor.

Sorry for being unclear above!

Achieve the Dream!

Our Australian Property Investing magazine arrived toady and in the Editor’s note there is reference to that article you mentioned. They suggest contacting ATO (www.ato.gov.au) regarding the tax rules.

The magazine states ” As a general principle, the ATO’s ruling allows a taxpayer who is building an investment property to claim the interest on…[Read more]

There were several mentions in this thread that the agents are required to pass along offers to vendors…Unfortunately this is not the case (in QLD) and it is frustrating if you are dealing with agents lacking customer service skills!

Good luck with this one!

Mapleleaf

Achieve the Dream!