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sam2011
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@sam2011
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Post Count: 123
January 27, 2010 - 9:18 pm
tried it out, seems a little dear for what you get, its quiet simplistic althought it does look good
sam2011
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@sam2011
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January 27, 2010 - 4:15 am
ouch! that is some huge variance and shit for your friend
sam2011
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@sam2011
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January 26, 2010 - 10:14 pm
scott how is rentmaster treating you? is the software any good? i got the trial but wasnt too happy with the interface, wondering if the progamming is any better
sam2011
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@sam2011
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January 22, 2010 - 2:28 am
not at all, but i would recommend having a look at sales history in the area and finding out what the average discount is, have a look at http://www.investsmart.com.au find the suburb, click on it and there should be a discount % there.
my last property was advertised for $189k i offered $150k and eventually got $163 about 15% probably could have got more
sam2011
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@sam2011
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January 21, 2010 - 10:18 pm
hi mel, there are a few tools out there you can use to get the same report free
http://www.onthehouse.com.au is one of them as mentioned above, another is http://www.oldlistings.com.au/
sam2011
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January 21, 2010 - 1:29 am
there are bargains in other countries but looking specifically at australia
sam2011
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@sam2011
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January 19, 2010 - 5:07 am
i must say i dont like the interface of any of them, none of them seem to be user friendly, just downloaded rentmaster and PIA and both look like they are from the 80s. Alot of different functions on each but the excel sheet at the moment seems like the best option. ive requested a cd from quicken so will give that a go and let you all know.
sam2011
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@sam2011
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January 19, 2010 - 1:19 am
hi christian, thanks for the reply, what information do you put into the supporting document? i wasnt aware that i could give supporting document to the bank for the valuation, is that standard practice?
do you have any examples you could provide, obviously with your informaiton removed so it remains private
Cheers
sam2011
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@sam2011
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January 18, 2010 - 10:19 am
regardless of whether or not they give you a loan i think you are looking at a high price guide. If you were to purchase a $350k place use the 100k deposit and get $300 a week for rent you would have to put in $100 out of your pocket + other expenses such as council, water, insurance which is lets say another $100 a fortnight, doesnt sound like much but reconsider if interest rates go up by 1% or 2%.
i made the mistake when i bought my first property and struggled for 4 years, until things got to normal. I would recommend looking at a cheaper place, building equity and having a look at another place in a couple of years
sam2011
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@sam2011
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January 18, 2010 - 7:47 am
hi mate,
have a look at my blog there are about 10 websites you can use and combined you should get the same reports you get from rpdata, with the exception that they are all free
sam2011
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@sam2011
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January 17, 2010 - 6:29 am
thank you thats great help
sam2011
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@sam2011
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January 17, 2010 - 6:10 am
already went ahead with it, i think the place has a lot of potential and the area is definately growing. also it was renovated and leased for $155 per week but i took it up to $210 pw, not sure if theat will make any difference when i revalue?
sam2011
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@sam2011
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January 17, 2010 - 4:36 am
thanks will have a look at those, i have actually been looking at around gosford as well as they just released their city plan by 2030, its a very interesting proposal, should change the city quite a bit
sam2011
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@sam2011
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Post Count: 123
January 17, 2010 - 3:40 am
Hi Subaru
to answer you question about finding cash flow properties, i use Investsmart http://www.investsmart.com.au and also the magazine "your investment property" as a list of all areas in australia with their rental yield and growth. Comes in very handy when you are deciding on your suburb.
Sam