Why not do both?

Having said that, I prefer property as I have some control over it. At least with a house, I can do improvements that add value, I can’t do this with shares.

Fortune Favours the Bold.

Thank you both, well put. Buying houses was easy but buying a block of flats is another learning curve all over again. Appreciate you replies, will do a lot more investigating before deciding on this one.

Thanks
PK

Fortune Favours the Bold.

OK, but why? Do the banks perceive the risk to be higher?

Fortune Favours the Bold.

Jealousy could also be part of the problem….

Fortune Favours the Bold.

Hi Phil,

Yes you can purcahse the agreements forms at the newsagency or alternatively, type it out yourself (bit time consuming). Yes, it’ll stand up in court as long as both parties have agreed and signed. You can even delete or add items as long as you don’t breach the Tenancy Act.

You can also purchase an information sheet called…[Read more]

Have you considered Rockingham, cheaper to get in the market and still close enough for you to manage yourself. Probaly not quite +ve geared but closer to +ve geared than what Mandurah would now be.

Fortune Favours the Bold.

Phil,

I didn’t realise you were also in Perth. You don’t need a solicitor. But go to the newsagent and buy a book called “The Landlord’s Handbook”, it’s under $20 (your looking for a blue covered book about A4 in size). Not all newsagents stock it, but quite a few do, so shop around, if you can’t find it then ring The Dept of Consumer and…[Read more]

Jake,

Check out the ABS site for median prices, population figues etc, they have a free section. I don’t find it user friendly, but if you persist you can find information out about areas you might be considering.

Regards
PK

Fortune Favours the Bold.

Hi there Lino,

Our first IP was purchased in Mandurah (in Coodanup, down near where the estury and the river meet) and just had it revalued and it’s gone up 30% in 20 months, so we’re happy even though it’s -ve geared (we bought before we read the book and cottoned onto the ideas, but it’s done us well anyway).

Our only gripe is trying to get…[Read more]

Hi Phil,

Well, most here are against managing themselves, however we do manage one of ours ourselves and haven’t had a problem. We gave the tenant our mobile number only though and not the home phone number in case problems did arise in the future, at least we could turn the mobile off in there were to call in the middle of the night on a…[Read more]

The question I’d be asking myself is “Are they dieing and therefore the population decreasing (meaning vacancies are likely to occur) or are there enough new retirees entering the town to keep the population stable?”

Fortune Favours the Bold.

IF YOU HAVE TIME, Manage your IP’s yourself. You don’t even have to choose the tenants ie: you can do a “To Lease Only” contract with an agent so they can find and check out your prospective tenants properly for you and then you do the rest.

I give the tenants an option of a deposit book to pay directly into my account or they can set up a…[Read more]

And how do you find our vacancy rates for country towns?

Fortune Favours the Bold.

Thanks will check it out. I’ve picked up rental forms there before but haven’t tried this type of form. Will have a look see.

Fortune Favours the Bold.

Phil,

Your might want to ask the Employment and Consumer Protection Dept, as I think wraps are illegal in WA unless you have a credit providers licence. Not saying you can’t wrap in other states, but you might want to check out the legalities of doing it in WA.

Purple Kiss

Fortune Favours the Bold.

Perth…well, Gidgegannup (Gidge Where? Yes, heard it before). We’re 10-15 mins out of Midland, another one in the hills.

Fortune Favours the Bold.

Those now looking at Armadale, Kelmscott and Gosnells may be too late, they’ve already gone up 15-20% in the last 12 months, (thankfully I bought one in Armadale 12 months ago) and it is the tenant that makes the difference, I have an excellent tenant and all is well (I also have insurance,just in case). For those wondering why they were so…[Read more]

Hey Recoveryman,

Just catching up on this thread after another trip to Geraldton, this one may have been fruitful, we shall see, if not, then I’ll start looking elsewhere. Anyway, just noticed you said you were driving up there, do you realise it’s a 5 to 6 hour drive (depending what suburb you’re starting from) with not much in between Perth…[Read more]

Hi ya Redwing,

You’re right, being comfortable with the property is a must. Only found 2 that would have been +ve geared, one was in shocking condition in not such a good area and the other was reasonable but an odd sort of setup plus the agent said straight out that is was a really bad street, so I guess I felt they didn’t count. There were a…[Read more]

Well, I’m in the middle of getting our investment properties revalued, finance pre-approval is subject to this and then off to find the next IP (although I’ve been looking anyway). Doesn’t worry me if it happens in 2 days, 2 weeks or two months, so long as it happens this year.

Recoveryman, you must have invested in Geraldton just in time. Was…[Read more]