Hi NHG,Option 2 is best if option 3 means you have overspent relative to value. Depends on how long you want to keep the property as well.If capital to fund option 4 is available and you are going to hold this property long term, then I would be looking at that option and twisting it a little. This does depend on the resale value you mentioned…[Read more]

Hi Yanni,Get yourself a copy of these books. ( try ebay or gumtree first)"Don't Sign Anything" and " Real Estate Mistakes", both by Neil Jenman.REM at the very least will give you an insight as to the goings on behind the scenes with most property sales, but rather than be freaked out by it all, use this information to prepare yourself for the…[Read more]

Hi Michael,Some very valid points above so take heed.If you are considering the DIY approach than can I emphasize the importance of the tenant application checking process. This really has to be stringent and if you don't get through to people that are noted then keep trying or ask for more references.On the application form ensure you have…[Read more]

Lawyer – first thing Monday morning or beforehand depending on your relationship. Was the 2nd contract also signed off with the same agent? the whole thing sounds nasty and hopefully the vendor and agent are in cahoots. Make sure your lawyer specializes in property. It helps.IanBlock Headwww.theblockblog.comFree Property Investment Info, Tools &…[Read more]

If you buy flatpack kitchens ensure you have the straight benchtop. Don't expect to be able to put together a bench join without expert help unless you have done it before and or have the tools.The last cabinetmaker I employed told me he'd almost stopped answering his phone because 99% of inquiries were from people wanting him to join their…[Read more]

Post is a little confusing. Are you asking about property management (programs) and associated positions or real estate sales? Two different aspects of the business.Property management systems used by agents I have come across from a landlord's viewpoint, are often antiquated and complicated. It's almost as if the agent enjoys making life…[Read more]

Hi Kenny Chlorine – great name!

You need to do some homework. No-one can answer your question as it stands because there are a lot of factors that may determine which is the best buy. A house may be best in a certain suburb, but a unit in another.

Also depends on what it is you want to do with your investing. Some investors only buy houses,…[Read more]

Hi Kenny Chlorine – great name!You need to do some homework. No-one can answer your question as it stands because there are a lot of factors that may determine which is the best buy. A house may be best in a certain suburb, but a unit in another.Also depends on what it is you want to do with your investing. Some investors only buy houses, others…[Read more]

Hi WilkoA rundown terrace sounds like a great start. Fix it up – add some value and get it revalued. If you've bought wisely – suburb research – and done your figures, ( renovation analysis spreadsheet) then the new value will see some good equity in the place and you've just made your first gain in property.Start with what you can afford and move…[Read more]

Xdrew is on the money here. Negotiate and settle. And welcome to the way Americans operate! After 5 or so visits extending to periods of 6 months at a time, I would be very wary of any govt dept. They are full of people who are trained to be excrutiatingly job specific, so cannot help you with one iota of information outside their job role. This ,…[Read more]

I'm familiar with a similar model being used by friends in Detroit. It works well as you 'the bank' are in a win win position. The retail buyer agrees to purchase at ???? … say house 1, $50k and pays you a deposit that would be as large as can be negotiated. Let's say $10k so your investment in house 1 is $25k on which you are receiving 9% with…[Read more]

Hi Janice,Always a good idea to contact the council in the area you intend to buy and find out the requirements before you start putting in offers.Is it a subdivision you are doing or a build as well. I'm a bit confused by your post. A simple subdivision won't cost too much at all.A great little resource came my way today that may be of some help.…[Read more]

Current owner may allow early access to get your money. Sounds like a good swap. Yes you are correct in that if the settlement does not go through, besides the usual financial problems, you will walk away from your renovation and have to pay to get it into a livable condition or back to where it was, plus costs to date.Sounds grim, but if you've…[Read more]

Yippee Ky Aye Eric!!!!Just go ahead and buy it – sight unseen…. great idea. Give me a call when you have the title and I will be the first to come out shooting!Ian http://www.theblockblog.com Free Property Investment Info, Tools & Resources for Investors with a Sense of Humour

Good returns can be made from every real estate market, it's just easier when it's trending up. Personally I'd avoid shares this year but that's just me. Wait till the fall out in Europe has been fully played out. No one I know has made any money on the share market since 2008 and I think 2012 is set up to be extremely volatile.Look for property…[Read more]

I send out for free, over 500 useful website links for investing in the USA via The BlockBlog.com if you are interested.Ianwww.theblockblog.comFree Property Investment Info Tools & Resources For Investors with A Sense of Humour.

Hi BenI take my hat off to you! Bloody well done on tackling this little project. If you are starting this way Ben you will go a long way in property investing and you will be very successful.Richard has pointed out some very valid facts, but put that little personal lending obstacle aside for the moment and see if you can work out if this project…[Read more]

Buy an old Queenslander, close to town with as large a land component as you can afford.You won't go wrong with so much happening up there. You also will have options down the line to add value and extract much more from the property in terms of cash return and possible development. ( even if it is your PPoR).Ianwww.theblockblog.comFree Property…[Read more]

Before you put in an offer you need to know what you are up for in costs.This means spending some money on inspections as well as costing up all materials, labour, time etc. Dont scrimp on the building inspection either. Hire a reputable company and specify your areas of concern to them in person. Also accompany the inspector on the job and takes…[Read more]

No one can tell you what this renovation will cost. A good renovation needs the costs to be worked out as exactly as possible otherwise you will blow your budget. Lucky for you this won't happen because you don't have a budget. You need to go into the property with a seriously accurate checklist and note everything down that needs doing.…[Read more]