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Thanks redwing and Jo for your comments. Jo thanks for your confirmation that I was at least on the right track. I will let my creativity juices start to flow!
I am also currently looking in SE Qld and am finding it difficult to even come close to a cash flow positive property however every now and them I get a glimmer. I guess this is what keeps me going. Can someone please explain to me what they mean by “you need to get creative” to find a cash flow property. I am guessing this means to add value to a property and increase the amount of rent charged? Am I on the right track. I would appreciate if someone could assist.
Also, for all you accomplished investors out there. When looking for a cash flow positive property do you only look for properties that are currently tenanted out or do you go by the likely weekly rental income and look to find a tenant asap. I would appreciate your comments.
Thanks, Nads73.
Thank you one and all for your comments which I have found very interesting. I have been amazed at the replies and have enjoyed reading people’s stories in where they have come from and what they have achieved. It’s nice to know you are not alone and that there are plenty of others in exactly your position. This web site is very informative and a great idea to share tips and knowhow.
As individuals we are all entitled to our own opinions, ideas and way of doing things. What works for some may not necessarily be right for another. It depends on what we each want to achieve. As I commented from the start there are plenty of knockers out there that will tell you you can’t do it, blah blah blah and because of this I think we should focus on the positive and not pull each other down. In saying that however one shouldn’t disregard or not worry about the bad side to investing (if not looked after properly). There were many valid points mentioned and one shouldn’t rush into a deal, not do their research, check finances, look at statistics etc. Since posting my original message a couple of weeks ago I am continuing my reading, have spoke with friends who have invested to hear their stories, taken on board multiple points mentioned in this forum and have continued my committment to myself to achieve (that I still sometimes find challenging). Lets continue to be helpful to each other and provide advice and our own opinions. At the end of the day it will be up to the individual as to what they do with that information!! [biggrin]