Rich Dad, Poor Dad – Robert Kiyosaki
Real Estate Riches – Dolf de Roos
From 0 to 260+ properties in 7 years – Steve McKnight
Keys to the Vault – Keith Cunningham (not written for property investing but a great book)

“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of liv…[Read more]

Hi Amanda,
This is a great tool.
Thank you for sharing it with all.
Sanjiv
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“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela

Hi blogs,
Generally, the vendors are trying to achieve 10% more than the listed price. In your case, the vendors are probably trying to achieve $320k. However, as crj mentioned, you need to do some local research to find out how much properties are selling for in the area.
Ofcourse, in an auction who knows what may happen. You may have a situation…[Read more]

Hi cruzinbud,
You can start the application but would need approval letter from the vendor and in some cases from the vendor’s lender as well.
The application can be put in your name.
Hope this helps.
Sanjiv
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“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of liv…[Read more]

Hi Daryl,
The conveyancer needs to be from NSW. It does not matter whether they are from the local town or your home town (as long as your home town is in NSW). Usually the settlement takes place in the city so it does not really matter where the conveyancer is from.
Hope this helps
Sanjiv

“There is no passion to be found playing small – in…[Read more]

I use Rent Manager (by Cashflow Manager Pty Ltd) http://www.cashflow-manager.com/australia/products-pc-rent.asp

It produces reports that are fully compliant with ATO requirements.

“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela

try http://www.xsstock.com.au

“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela

A rough rule for 5% return is [weekly rent x 1000]
In your example, for rental of $340/wk house price will be approx. $340,000.
Note. This rule gives you a return of 5.2%

Hope this helps
Sanjiv

“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela

Hi drainosky,
First of all, welcome to the forum and congratulations on taking the action to reach out to people to get advice.
My suggestion is for you to first set your life/investment goals and understand the WHY behind these goals. Then look at what vehicles (property, shares, etc) you can use to reach your goals. Then only work on the…[Read more]

Hi hardy10,
It depends on how much you will be paying for it. You did not mention the purchase price.
Sanjiv
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“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela

good one, mcollins

“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela

Hiya,
Please recommend me good professionals in Melbourne. Thanks

“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela

Hi angie7,
You wouldn’t buy anything based on what the real estate agent tells you. You would complete a thorough due diligence which would include things like building inspection, pest inspection, bank valuation, contacting property managers to get a fair idea of potential rent, buying a suburb profile report to see what has happened in the…[Read more]

Hi,
xsstock.com.au appears to be a very useful site but unfortunately seems to operate in QLD only.
Any similar sites for Melbourne (other than graysonline.com.au)
Sanjiv
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“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela

Hi karlm63,
You can get an indictive market value from a real estate agent. For lending purposes, the lender will get a valuation using a registered valuer.
You could also look at reports from rpdata.com.au, residex.com.au, etc to get an indicative valuation for your property. These reports will cost you around $40.
Hope this…[Read more]

Thanks Amanda,
These are great resources.
Sanjiv
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“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela

Hi Paul,
That’s a very useful site.

Carmelian,
You can check the mortgagee or realisation sale by doing a keyword search on domain.com.au

Regards
Sanjiv
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“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela

Thanks duckster,
Am I correct in saying the lower the discounting, the less risky the suburb is considered.
Regards
Sanjiv
*******

“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela

Thanks,
The property I am considering is a subdivision opportunity with plans and permit to build a 2BR unit at the back. If I were to buy the property I am planning to sell the block at the rear with plans and permit and put that money into the house at the front. That should make the house cash flow positive.
Any thoughts?

“There is no pas…[Read more]

C’mon people
Please help me out here! thanks

“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela