Legend has it that colonel sanders (guy that created KFC) was on the pension at 65, and decided it was not enough money, and he went out pitching his idea of fried chicken and got rejected an enormous amount of times (imagine the people that said no to him, theyd be kicking themselves!) He finally got a yes and went on to become a very rich man at…[Read more]

CBA has an account called the netbank saver account. It gets you 5.65, the difference between this and all the other accounts, is on other accounts, you generally need to leave your money there, and you only get interest on money above a certain amount. With this account, you get interest on any amount above $1000. Until your 25 that is, once you…[Read more]

hey,

i was in a similar position myself, still kind of am actually, but you should hold on to it. Im assuming that if you sold, you would make a loss, plus selling is not a fun experience unless were in a boom!
Maybe if your certain that you wouldnt make a loss on one of them, just sell one of them to ease your burden. But only if your sure you…[Read more]

Hi,

It is very important to have it all on paper, and for every party to know all their rights. You know the ‘horror tenants’ stories you hear on the news? These happen because it wasnt managed properly. Manage your investment well, no matter who is living in your property, even if it is your mother or your sister. Get it in writing!

Im not sure…[Read more]

The author to richest man in babylon is george s clason.
i would recommend all of kiyosakis books, and dolf de roos books, and richest man in babylon, and think and grow rich. These will help your mentality hugely. These books are worth their cost 10x over, and if you have a good accountant, you can claim them on your tax return!
read as much as…[Read more]

hey phorsha,

i understand there can be a bit of fear when buying interstate, fear of the unknown, perhaps you want to think about using a buyers agent until you get to know certain areas? They will provide you with all the information everyone has suggested, and more, enabling you to make a better informed decision.
I know a good one if your…[Read more]

There are alot of things you can do on a chea budget. your best bet is to make friends with tradespeople! Alot of them will quite happily work for cash provided theyre paid on time. Pay them the moment the job is done, and youll have a handy friend on call!
Simple things that we have done with our renos are replacing fittings.
We painted our…[Read more]

Hey,

Hate to be rude, but it seems like your friend is blowing wind up your a$$. My guess about why she blew you off the next day is because she realised how much she exaggerated. Unless she is on an extremely high income, im talking upwards of 100k a year, there is not much benefit in holding negatively geared property. If your on a high income,…[Read more]

to bear,

i just wanted to tell you to be careful about claiming business expenses.
I dont know about other states, but in my state, you have to be a registered agent to ‘carry on in the business of real estate, frequently trading’. This means you have to go do numerous very expensive courses. About 10k worth here in my state, just to fulfil a…[Read more]

I dont know all the details, but if your going to be saving 30k on the difference between a brand new property, and a 1-2 yr old property, go with the 1-2 yr old property. You’ll still get heaps of depreciation, which is why i assume most people buy new houses as investments. Keep the money in your pocket, and still get some back at tax time?…[Read more]

dont forget to get your lawyer to draw something up that states the agreement, what happens if any of you need to get out etc. how long the property will be kept, division of capital gains etc
It would be terrible to fall out with your friends over property, it doesnt matter how good friends you are, get it in writing every time!
This would also…[Read more]

This sounds like an awesome idea!

I think whoever said it was right, there needs to be some sort on online thing. Seeing as we are all from far reaching parts of the country, it is going to be very hard to network.

I have some ideas of how it could work, and i would love to organise this, but is there the interest for it? The biggest thing it…[Read more]

Hey,

Dont hate now, but my fiancee is actually a lender for a big bank, and their valuers always go inside the property.
But that doesnt always help, i recently did exactly what you did, reno on my property, got the valuer round so i would have more finance, but she valued it only 20k more! And thats after 18monthsfrom the last val, so she has…[Read more]

trish,
i may not have understood you properly, but i buy all my properties in my name with ‘and or nominees’ after it, so that if i decide to change the structure, i can do so before settlement without any hassle. Say for example, i sold it before settlement, then i would change from my name into the new owners name right before signing transfer…[Read more]

Wow, 2 yrs for approval, no wonder your over it!

You have come this far, why stop now? Your halfway over the hill, just roll on down, and cash in on your patience!

Wes,
Ive found private landlords easier to deal with than agents, as private landlords are not usually as clued up as a property manager should be.
They also are alot more relaxed.
All that said, this is a vague generalisation, i have heard horror stories about bad landlords, so for all those that are just waiting to correct me, i know, bad…[Read more]

thanks lyndon, i may just take you up on that offer sometimes!
and im a certified non practising real estate agent, so if you need any advice when it comes to dealing with them, or with laws, ask me anytime!

And good luck with the council, dazzling!

Thanks for all that so far! That helps, im not stumbling in the dark any more, i have glasses now!

it is located in a coastal town, and it is way up on a hill, so flooding is definately not a concern, but im worried that maybe it might be too sandy?
But people have been building here for years, there are not too many original homes in this town…[Read more]

I think it depends on the sort of house you are selling. You need to look at your target market, and think how they think.
If your target market is in the higher end, the luxury side of the market, or even if it is for a family, then it might be worth putting furniture in. Definately, it would improve your end sale price way more than what it cost…[Read more]

Hi,
I believe you will find growth wherever you buy, as property is a long term asset, so dont stress too much about it! it will happen eventually, ive seen growth everywhere, including all little regional towns, the only place ive seen prices go down in is Peterborough!
Im not an Andrews Farm expert, but its still close to Elizabeth-ish, so be…[Read more]