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Hi
Getting started is hard and scary. Sometimes its just easier to do something than do nothing. Destiny Financial Services, a franchise group, owned by Margaret Lomas is very good. WE are dealing with them in Adelaide. http://www.destiny.net.au They do charge a set fee depending on what you want but set up a long term plan dependent on your current position and where you want to be in 5/10/15 years etc. Mostly property related and positive cash flow properties where possible.
At the end of the day, if you stay in a buy and hold scenario it is very difficult to loose.Good way to get in the market. Look for the right suburb and area in the suburb. One bedders need to be near public transport, easy access to the CBD, Uni etc. Close to supermarket.
Just bought one bedder at Underdale, ADelaide (4km to CBD) for $122K (bank valued at $145k) and renting at $150pw. Almost could have had an auction and got more. 20 groups turned up in the 30 minute opening.
Make sure you get positive cash flow for this end of the market to compensate for vacancies etc. Also good Landlord Insurance. AAMI cost us only $71 – worth it.
MichaelI’m with you guys. A REGULAR GET TOGETHER OF LIKE MINDED PEOPLE JUST Sharing ideas is great.
Would be great to see one start up in Adelaide.
MichaelDefinitly need to put up the rent and get 12 month lease or say goodbye. All transactions need to be win win. I do something for you you do something for me. You put in aircon, they pay more rent. Much easier to lease out a property with aircon/heating and get better rent.
Good luck2004 Ford Explorer 4wd for me and 1988 ford capri for my patient wife. Cant do without 2. Need 4wd for holidays in the bush
Michael
