That sounds like my house when I was 18!
Obviously the tenants were not informed that the pre-settlement inspection was happening on the day. Sounds like the vendor isn't taking the sale seriously. 

Well said mystery
Wish I could have made the seminar, don't get many in Townsville. Unfortunately I'm in Gladstone working for the man.

beans wrote:
Cocaine, true story

Haha this could be the start of a vicious cycle.
If you’ve got an appetite for risk you could try investing in a high yielding meth lab.

phill666 wrote:
i wouldnt do it.. any income provided by a defacto partner that is used to assist your asset will become divided up in a court if you split up.. dont do it.. rent out your property and go like somewhere else with him that way you are protected from him taking half your assets

This is one of my concerns as a young single…[Read more]

Fair enough I apologise if that doesn't help. I'm not real clued up on the SE Qld market, but if in pursuit of cashflow I would target properties with a 8 to 9% gross yield and minimal holding costs ( rates and body corp fees, insurance is also a killer up here in north Qld at the moment) 

The example you've given I would not consider a cashflow property….but that's just me.

MatthewJP wrote:
and was wanting to know if it is just a case of jumping in the deep end and having a crack. 

I believe it is.  There's no better way to learn than by having a crack, and who knows, you might even have some success.
I bought my first property 2 years ago at 24 with only about 15k thanks to FHOG and stamp duty concessions, and…[Read more]

With 250k cash you have a lot of options, I certainly wish I had that sort of money just laying around.
my latest interest has been older duplexes, some minor renos can achieve great rental yields.

I would definitely be looking to balance the portfolio with some high yielding properties in regional centres.

Thanks Ziv, yes would be good to hear from someone who has got involved.

Do they happen to have a single daughter?

Sorry cant offer any advice here.

I phoned an agent today to discuss a property I'm keen on, he revealed he was in Melbourne (the property and the agents office are in Qld) and judging by the rowdy behaviour I could hear in the background I'm guessing he was having a coldie at the Melbourne cup. He without hesitation told me about a previous offer on the property and also the…[Read more]

I'm using an 'edge gearing' strategy as I am young and don't have a great deal of capital, Also the higher risk strategies excite me.  Hopefully it works out…

Thanks guys

Yes I can scratch together 15% for deposit and purchase costs but it won't be genuine savings?

My thumbs up for Townsville too, vacancies tightening and population growing faster than the state average, really good buying at the moment. I too hold property in Townsville so probably a little bias.  Lots of infrastructure spending in the northern beaches area at the moment.

Wow….patted you've made something quite simple seem really confusing.

Sounds like the location is one that would be considered low risk to lenders and LMI providers, wouldn't it be possible, with a good broker, to purchase the new property at 95% LVR plus capitalised LMI of say 2% = 97% LVR ? ( I have achieved this in a regional centre)

I am on the ground in Gladstone and in my opinion the sudden surge in demand for rentals is only very temporary. There might be some good returns over the next 2-3 years but I wouldnt recommend holding any longer than that.

I also think Freckles comments are worthy of consideration and they usually send me delving into stats and graphs.  One thing I would like to know is where are you actively investing Freckle, if at all?