Forum Replies Created
There’s no better time to invest than now. You have obviously got over that mind barrier and decided to take the plunge but don’t rush into it.
Do your homework and make an educated business decision, not an emotional one.
Be sure you want to go down the path of negative geared property. This will require cash out of your pocket.
Your ‘useful’ contact list will grow in time. This takes years. Don’t rush it.
I am cheeky when I buy property and will always try to get the price down, but at the end of the day the bottom price needs to be fair and reasonable or you’ll more than likely loose the deal. Especially in this market.
Venders seem less willing to negotiate at the moment. At 66k sounds like a good price considering the return.
Also, I think the roof repair would be considered a capital improvement by Mr Tax Man so you’ll only get your 2.5% dep.
I would buy the place and fix the roof later.
Paul
Forgive my spelling. I do mean Conscious.
I use PIA for Analysis. It’s easy to use and produces a number of good reports. Also good for analysis of multiple properties (ie Portfolio)
I’m currently testing a programme called POSH for managing my properties. It was recommended by API magazine. POSH also has good anaylsis tools but not as detailed as PIA.
Good Tenant database, expense tracking, house details, rent, house details etc…
