Hi there,You should get in contact with few agents in the area and have the property evaluated with them usually free of charge if you know what to say! Secondly you can pay independent evaluator $300-$400 to evaluate the property.Thirdly you can purchase Reports on your area/street and the PPOR through this website http://www.rpdata.net.au Also…[Read more]

Hi Elka,The commercial property is retail space which has 2 carparks, garage, and two floors of office space. It is on a good busy road with access to the local shopping centre and it also has security gates on the weekend so there is no possiblity of thieves stealing anything from the premises.I do believe the tenant moved in straight after the…[Read more]

Hi Elka,Thank you for your help! It definately makes it easier once you know someone that has a commercial property and has gone through the difficult and good times as you have.We are looking at a commercial property that is in a good location, fairly new, has long lease and decent return.We have found such a place but we need to look at the…[Read more]

Hi everybody,Thank you for all the help! I will look at approaching few lenders and Simon when i gather more information on the commercial property i will email you with my details.I will let you all know how everything is progressing.Thanks once more!Michael

Hi andrew,Don't get confused here. the basic principle the banks look at is as i mentioned earlier. If your salary is $1500 a week vs $600 obviously this will have a greater effect on how much you are able to borrow from the banks.If you had i.e $1500 you will be able to purchase another 2 ip with some deposit down and having 2 ip that you p…[Read more]

i think you any very good position as marc stated earlier.you both aern good incomes, you are young, your properties appreciated and you got less debt owing.Don't worry too much about steves formula as his decision was to go positively geared and as he done it in the right time cheap buys were everywhere in early 90's!As a result he was able to…[Read more]

Hi Longroad,With te central coast generally looking at the history properties preform better than on the southcoast of nsw. This does not mean however if you found an area in south cost that after you done your research is very promising to get you appreciation and low vacancy periods then by all means buy your ip there.if you are looking at the…[Read more]

Hi there,i have to agree with Lia here because if you are able to borrow 90%+ to purchase an investment property if you do your homework you can find a positively geared property in an area that is likely to boom and be stable in the short and long term.As this is you first investment i suggest that you don't sell your property where you live…[Read more]

Hi Bronte,I agree with mark here. i personally had the experience of not needing to renovate becasue i bought the IP at the right place at the right time which was also positvely geared!the place i bought the property was in Port Augusta in SA which 3 years later all the experts are voting the place to be the next place invest! they are right…[Read more]

i agree with Bharat..if you really want to be a successfull investor you must free up your LVR by either moving into a smaller house or into a unit. Your problem is not the property value that you live in but the ability to borrow because you owe soo much money!Before you do anything you should know what your short and long term goals are as this…[Read more]

Hi Andrew,The bank will look at the repayments per month, equity in the positively geared property you purchased and your salary.Assuming you put a 10% deposit and make the two properties positively geared the bank will most likely won't lend you $200,000 because of your low salary. Especially if the negative property is evaluated under the pur…[Read more]

Hi Ben,I had even worse thing happen to me! i had a house valued at $67,000 when the house purchase price was $84,000 !!what i did is compared all the other similar properties and told the bank that they are wrong but they still came back with the same price as in the town i purchased they used the same valuator and had no other!!!beacuse the…[Read more]

Hi,

What you need to do first is actually have a investment plan and strategy of where you want to be if i.e few years etc.

You need to choose a strategy that you would need to use in order to make big $$$$

Nobody will serve you the information on the silver plate.

FUTURE IS DETERMINED BY WHAT YOU DO TODAY AND NOT TOMORROW

YOU FAIL TO PLAN…[Read more]

What you could do is actually buy 6 or more +ve properties that you will be able to borrow more by re-evaluating them after ie 1 yeat and buy land near the areas for the long haul that will boom based on your research.

YOUR GREATEST ASSET IS THE INFORMATION IN YOUR HEAD AND THE AGE OF YOUR INFORMATION

[biggrin]

Please clarify clearly of what the deal is and what you want to achieve.

[blink]

Hi,

The fisrt think you should do is save as much money you can while educating yourself and talking to the right people to know do’s and don’t in property investing.

To start with read Rich Dad Poor Dad by Robert Kyiosaki

It’s a great book for anyone.

Second is Newest book by Seve Mcknight which i forgot what is called ! oooops. I have the…[Read more]

Couldn’t agree more!

[biggrin]

You are gotta be kidding!

Hi Calm,

The first thing you would need to do is to ask yourself why and where do you want to be in the future.

You need to make a investment plan and have reasons behind it as we all have different goals and strategy.

No strategy is wrong or right if it is executed properly.

Once you establish the reasons of why you want to be a property…[Read more]

The question that you are asking is basicaly for people to do the resarch for you!

YOU NEED TO DO THE RESEARCH OR AT LEAST HAVE A REASON OF WHY YOU ARE LOOKING AT THAT PARTICULAR AREA TO START WITH!

[angry2]