Cheers mentee – let me know if you need anymore run.

Cheers mymatephil. Appreciate your feedback. I was always told "that a man's word is his bond" and I stand by that – the offer is genuine, with no expectation of doing business anytime in the future. I'm paying for the subscription already, and it costs me no more whether I run 1 or 40 reports pcm. I hope they are of benefit. Cheers,…[Read more]

Thanks dantze. i appreciate the feedback, and am happy for you to offer the property reports to your friends and family. Cheers, Mike

Here's the link for the accreditation needed to be a buyers agent in VIC – http://www.reiv.com.au/_uploads/training/accreditation/BuyersAgent_AccreditationGuide.pdf

Hi IP Freely,I used a Buyer’s Agent for my first investment purchase – as I wanted to see the process that they put in place, and also walk away with a file of their research so I might replicate it for myself in the future.Some agents offer varying degrees of service – some will only do everything, but others will do the auction/negotiating for y…[Read more]

Hi C,My advice would be to make more bedrooms.My experience dates back a few years to a student flat I brought with a family member back in NZ. It was $220k when we got it, and we then spent $25k converting a superfluous sunroom in to two bedrooms, repainted throughout, and fixed up the roof.From day one each room was rented out for $120 per room…[Read more]

Hi Mr Markie,You might want to check it out – but I was told recently that the few lenders that lend to super funds, will only lend if the super fund alone is able to service the loan. This requirement alone knocks out a lot of deals, as most don’t have the income to service.Cheers, Mike

Cheers Wayne,I appreciate the kind words. Hopefully the report helps you with purchasing the new property, and you ultimately get it for less than what the real estate agent is quoting.If you have any family or friends who could benefit from having a property report run, just pass on my details, and I'll do that for them.Enjoy the weekend.Mike

Hi Mervin,You can try the following websites for flatmates:http://www.flatmates.com.auhttp://www.flatmatefinder.com.auhttp://www.flatmatefinders.com.auWith plenty of industry around Hoopers Crossing and close to transport in to the city, I don't think you would have too many problems filling the rooms.Cheers,Mike

Hi Mavoz, In your situation I have seen so many people’s accountants advise them quite differently in these scenarios – so if they don’t give you the answer you want, just ask somewhere else. A couple of years ago I dealt with a youngish couple who were moving back to Ballarat to raise their kids in 8-12 months time. They knew that they would l…[Read more]

Hi Ken,For my 80+ year old wb ip in Melbourne (Brunswick) I have averaged 1 month's gross rent pa for maintenance in the past 5 years. It was in pretty good nick when I brought it, and I manage the property myself, so that helps keep the cash in my pocket.Cheers,Mike

Hi Mliew,I agree with many of the comments above – getting in to your first property is a big move, but it is also one that never gets any easier. You have a good deposit and a consistent income, which should grow over time.  Getting in a flatmate for one of the rooms is probably a sensible idea – it won't be able to be taken in to account from a…[Read more]