Wowsers.. you own your own PPOR and 3 IP’s outright? You’re doing better than most people here [thumbsupanim] With that many purchases I would have thought that you already had enough experience to answer your own question, unless all of the properties were bought upfront with no mortgages (?) I’m only a beginner (24yo with 2 properties) but to…[Read more]

I think you’re on the right track their MarkyMark.. usually the vendor will make the appropriate repairs and keep the offer price as is, or they will take the repair costs into consideration and lower the sale price accordingly.

Maybe look into getting landlord / property insurance too. Keep us up to date with it!

If you’ve got a mortgage to pay this would make things a lot harder for you. My girlfriend and I were in the same situation last year. We had a tenant who was always late in paying rent and making up excuses.. we were up front with her and told her that we had a mortgage to pay too and if she didn’t pay the rent on time it caused us major…[Read more]

$100k just for renos sounds like quite a bit for a property of that price. You could build a new house for a tad more.

Garvo,
You can get a property management pack from your local newsagent with most/all the forms and contracts you need.. including the bond submittal form. I think it costs about $6.

Cheers.

I wouldn’t be surprised if there was.. I couldn’t believe my eyes when I saw an investment magazine at the newsagent FOR WOMEN. I don’t see any feminists protesting about that.. [baaa]

Originally posted by WauloK:
Yes. I later realised I should not post after 11pm.
Those properties are not likely to be suitable.
Sorry.

Hopeful, keen and learning

I don’t get this…. you don’t ‘HAVE TO’ follow the 11 second rule you know. If those returns are genuine then those properties could be excellent investments.

Sorry to hear about all that.. hope it all works out [] One question though, how’d you end up buying a property in Darwin if you live in Tasmania? What were the circumstances surrounding it? []

Darn.. I wonder if it’s possible to get back issues? Does anyone have any info on Roselands? 2196.

Awesome
Thanks for that VERY quick reply.

Hi Judi,
Have you tried looking in the paper yet? I’ve found that the Trading Post can sometimes have some very cheap kitchens for sale.. e.g. 2-3yr old kitchens complete with appliances for less than $500. It might save you having to take measurements and finding doors to fit etc..

Rooney.. does your company do cheapish customer kitchen…[Read more]

Ok.. when I said that Redfern would boom I didn’t mean BOOM as in cocktail bombs etc.. hahaha. I hope they clean up the area soon

I just recently re-financed to buy another property.. the initial rate was set at 6.2% however the rate rise went up before I found my property and it went up to 6.4%.. it’s fixed for 3yrs.. just for piece of mind really.

I bought a negatively geared property in Glenelg North which settled on the 6th/Feb.

Start with one property.. then once you’ve gained experience, buy another and so on . You wouldn’t want to buy ‘a few’ units with little/no experience and/or knowledge of what you’re getting yourself into.. [8]

In regards to investing in Tassie.. if you’ve studied the area you are wanting to invest in, then you should have a rough idea if it’s…[Read more]

Éveryone would love to have a positively geared property. However, what’s good for one person might not be good for another. You just need to sit down with someone and have a close look at your financial situation and see what’s best for you. Just ask yourself what your goals are and then see which method would be best to achieve them. Our…[Read more]

Paddington still has quite a bit of room for growth in the near future in my opinion. I don’t know what your financial situation is like, but if I was going to buy another property in Sydney it’d definitely be in REDFERN.. this area is going to BOOM and it’s still VERY affordable.

Anyone? []

Awesome, thanks for all the replies everybody. It looks as though this may be a feasible goal! Hopefully in a few months we would have built up enough additional equity and paid off some more of the loan to put us in a more secure position to go ahead with the next purchase. Our loan is through the CBA/Colonial and we’re paying 6.4% interest…[Read more]