Very interesting reading beedie thanks for that it's good to have my thinking challanged.

Thanks I will do that in future.  I did say I was looking at a few other properties but didn't ask them to let the vendor know I'm prepared to negotiate still if they change their minds.

Good idea Scott No Mates and Jamie, thanks for that and yes it's all a bit daunting at the moment but I guess it gets easier each time and it is great to have a forum such as this to get advice and opions from experienced investors.CheersNonnie

Thanks for all your advice and opinions.  I went back with another offer of $283,000 and it was knocked back again so I have left it for now as there are other properties in the area that I am interested in, I guess I can always go back to them in a week or two if it's still available with a higher offer.CheersNonnie

Thanks Jamie good advice, I will contact the agent and see what may motivate the vendor before making another offer.CheersNonnie

Thanks Jamie, I will certainly do that.  Houses aren't selling that quick there at the moment so I should be able to do this with no trouble.CheersNonnie

Thanks for your input guys.  I think you're right Matt, I am now suspicious of the tennant payment above market rent.  Maybe I will look at another property or off long settlement as you suggested.Cheers

Hi Matt,The lease expires in July and he is paying a good rent for the area.Nonnie

   Thanks again Mike for the reports.  Your service is such a generous help to others.  Much appreciated.CheersNonnie

Thanks for you input TC.  I guess the reason I am looking at Whyalla is that their is quite a bit going on around there now and in the future but also because the rent returns are higher than around Adelaide.  Yes you may be able to pick up a cheap house for under $250K but I can't find anything that would give me more than a 5.4% return.  My st…[Read more]

Thanks to Duckster and Linar for your comments.  I managed to get the PM to talk to the Insurers and apparently after a few arguments my PM gave them the tenancy application. CheersNonnie

Thanks I have a copy of the lease agreement, so I will see if the insurers will accept that, however they did stipulate tenancy application.Cheers

Hi Mike, Thank you for all your effort and so quick too!  The report is very informative and is a great help.CheersNonnie

Hi DIYPMGood advice thanks.  Yes I know who built the house, so I will get information from them if I can.  If it has been done I shouldn't need to get a pest inspection should I?Nonnie

Thanks Cldy, I'll look into that.

Thanks Mick and Hany.  The real estate agent advised me there was no fees to pay and no Body Corporate and everyone looked after their own place.  She seemed a bit vague.  I think on Monday I will be investigating further as from what you are saying there at least needs to be insurance and legal access to the property.Nonnie

Wow that's a big discount, a little out of my range though.  Starting off fairly small and I plan to work my way up.  I guess you've got to forget about the ones you miss out on, learn by it and move on to the next one.

Well I just missed out on a property yesterday because someone had bet me to it that morning, didn't even get to put in my offer!  So there was demand for that one at least.

Thanks for the advice guys, I really appreciate it!Nonnie

Thanks Wealth Accumulator for your encouraging words.  I'm sure once I buy my first property the rest will be a bit easier!Nonnie