I find ING great. Money always at call, min. balance $10 to start, no fees and you can have up to 9 separate accounts under one name – great for AIPs and budgets. Currently @ 5.75%.

Must do to give me the best quote!
They do regular runs through the year – next one in May I think.
scotty3

Ask ’em!
Ring a couple of managing agents and ask their rates are (including letting fees and advertising), what they do for the money and also ask for client references. (Good if you can find landlords who recommend their services).
Rates for the agents I use vary between 7 and 9% of rent collected.
Apart from time leverage, there’s also the…[Read more]

I have posted this before but being an inexperienced forum user, I don’t know how to direct you to it, so I’ll post again the following:
This is the link to the Property, Stock and Business Agents Act 2002 (current legislation).

http://www.austlii.edu.au/au/legis/nsw/consol%5fact/psabaa2002385/s3.html#agent

My interpretation of this (and that of…[Read more]

Hi Collo
Send me a PM and I may be able to help.
scotty3

If you haven’t found someone yet, I have been dealing with Wades First National re. purchases and they have been good. I know they do property mangement, but you’ll need to call them for details.
BMT have given me the best QS quote so far.
Good luck,
scotty3

Try ABS website, residex and RP Data.
Cheers,
scotty3

Hi Francisl
Unlike G7 I believe you need to be licensed as a buyer’s agent to bird dog in australia. I looked into it and became licensed for that reason.
Check other posts on the subject – there’s plenty of them.
Cheers,
scotty3

There is something in this workshop for everyone and while some of it may go over your head at first, it’s still a great opportunity to learn some great fundamentals as well. If you’re just starting out though, why such a hurry – why not save a little money and book for the next Sydney one in October instead? In the meantime read, network, talk…[Read more]

Hi Mant
I have two IPs in Mt Isa now and they have enjoyed some good CG over the last 12 months because of Xstrata’s regeneration of the mines. Taking into account the resource boom fuelled by China and others, I don’t expect there to be a crash soon (next couple of years). When I was up there looking I noticed all the public buildings had been…[Read more]

Hi Elitess
Do you want to hold onto the property long term? If not necessarily, and the great suggestions listed above don’t help, then maybe a lease option or wrap might be a thought.
Good luck,
Scotty3

Hi Liz
If you’re in Sydney PM me I can definitely help you.
Scotty3

Hi Loungeact
I reckon you should change your name – you are doing much more than most people sitting on their lounges! Good on you!
Best advice I can give is to buy a ticket to Steve’s next seminar – the sooner the better. There is more than enough info and networking opportunities there to get you started.
Take plenty of time to educate yourself…[Read more]

Hi Lee
You will find quite a bit said about bird dogging in other sections of the forum, so have a hunt. I am a licensed buyers agent – became licensed because my take on the law in Australia is that it’s illegal to do so without one, so take care if you venture into it.
As for fees, etc. that varies somewhat depending on the amount of service…[Read more]

Hi Demps
Together with the above,I would say that as long as all your calculations are in the same currency, it should work as it does here, but if you’re buying overseas don’t forget the impact of exchange rates, govt rulings, etc. It may make the deals look quite different.

Cheers,
Scotty3

We read John Burley a year or so ago and immediately put the AIP into action (actually we had already started something similar).

There are a couple of ways of approaching this.
1. Hire a stock broker and set up an AIP through him, giving him directions as to which shares to buy along the way.

2. Do as we did – I have a set amount deducted from…[Read more]

OK. Thanks Terry.

Felicity’s strategy as far as education goes is GREAT. Take the freebies, find what you are comfortable/excited about doing, look into a few of the gurus in that area and see that they’re reputable and THEN spend the money.

I too bought Rick’s wrap pack and have made multiple times what it cost. Steve’s I’m sure would do the same. It all comes…[Read more]

It’s already a win-win because the tenants get the chance to live in the property they’re buying, pay some of the deposit week-by-week in ‘rent’ and know the property will still be available when they are ready to buy. A good strike price should certainly be ‘in the money’, but you don’t have to forfeit all the CG unnecessarily. A ‘profit share’…[Read more]

Hi Monopoly

Yep, I suppose I have – but by accident rather than design! I had intended to hold the property as I bought before the boom on a 7.6% return. The place has increased in value by about 37% in one year. It was an Ah-Ha moment at Steve’s seminar (AFTER the new teants had signed up) which showed me that I’m not getting 7.6% anymore, I’m…[Read more]