No, Landlords insurance does not cover week to week leases. The previous property manager was next to useless and when she left or was fired the RE agency could not secure a new PM, so as a result tenant was not followed up for unpaid lease or unpaid water and as i said they only realised she had gone when i complained about unpaid bills. The…[Read more]

This looks fantastic, you would not know it was the same house. I wish i had the knowledge, skills and bravado to take on such a reno. I hope you achieve a great return.I ams tressing about the condition my property has been left in by a tenant that has done a runner and apparently left a mess, three months and the 'property manager' staill hasn't…[Read more]

From the post I thought that the total area of each town house is 250m2 not 250m2 on top and bottom.

Thanks D and Crest, I haven't been thru the property as i live in griffith, still have not heard anything more from pm. have had a reply from another RE agent regarding either selling the property or for them to take over the managment of the property. Will have to follow up with the current pm tomorrow to see if they have any answers for me.

Property manager is Elders Real estate forbes nsw.I was livid today when i spoke to the new 'property manager' she was very non commital and didn't appear to think it was 'such a big deal' that the tenant had left and the fact that it appears to have been quite a while ago.What really irks me is that people seem to think that if you have an…[Read more]

Received a phone call today to tell me that my tenant has done a runner leaving a water bill of ove4r $150 and owing over $900. When i asked how long it had been since the tenant had paid rent i was told "they haven't been in since 29 SEPTEMBER!' When i questioned why they had not followed up on the rental arrears before now they could give no…[Read more]

If you want to know good areas to buy for strong rental appeal speak to the property managers not the sales agents. The PMs are the ones that deal with the property on an on-going basis. They can tell you what the renters are looking for, size, number of bedrooms areas that are popular etc. If you find a property that you like speak to the PMs…[Read more]

You could always accept the current loan that you can get and then refinance in one or two years time when the farm is more financial to a loan with a lower interest rate. If you choose to go this path make sure you are fully aware of any penalties or extra payments required to pay out the loan earlycheersSonya

i had to laugh when i recently had a 'vacuum cleaner' demo at home. The young demonstrator asked if 'hubby' was going to view the demonstration. When i said i didn't have a husband he then asked if i had the landlord's permission to  have the demonstration. When i replied that i owned my house i was met with an incredulous look that i could do…[Read more]

Major banks aren't much better, i got royally screwed  by westpac when i refinanced my mortgage.

Given what you have said, you have a good deposit to buy one or two properties in a city or you may be able to buy four or five properties in larger regional towns. There are a number of towns that are currently promoting themselves as good areas for people to relocate to from the large cities. these may be great areas to buy into now. Do your…[Read more]

hi Wynyard,As mentioned above there are options and regional areas do not have to be tiny little towns with no employment prospects. i live in a regional town of 25,000+ I bought a three bedroom, two bathroom double garage house that was only 8 years old for $270K and there are other similair properties around a similair price still available. I…[Read more]

Hi I have many of margaret Lomas' books which i think are great. I actually got the access to her site from the back of a book that i initially borrowed from the local library. I went on to buy this and otehr books by margaret. Try your local library they usually have her books.

Roxie Springs you make an interesting comment. A flatmate of mine from a few years back is a very successful lawyer and always dresses very smartly for work. However, when she goes shopping she often goes home, has a shower and puts on her daggiest clothes as she prefers to look for clothes without pushy shop assistants. They take on elook at her…[Read more]

Just something to be aware of, did you inspect the property when it was listed for sale? If so the agent can claim that they 'introduced you' to the property and impose their commission on the vendor. So the vendor  may still want a higher price to cover these costs. I am not sure how long after the property has been taken off the market the…[Read more]

Hi I have bought three of my IPs sight unseen. I have been happy with my purchases and as mentioned above do all of your due diligence, Having a property inspection bulding and pest is very important. In fact having these done can also take the emotional side out of the purchase as these are based on fact.

A blow ouot in available rental properties and lack of tenants was inevitable with the bgross over supply of properties combined with inflated prices for interestate investors leading to negative equity and forced sales after the GFC. Rentors are the ones with the balance of power not as opposed to landlords when there is a limited supply

you can also use the stamp duty calculator on the realestate.com website. One benefit of buying in a number of different states is avoiding paying land tax when land values exceed each states free threshold

i bought it thru Pow wow, even better it was heaps cheaper than what the ex paid for it when he bought it a few years before.www.powwowevents.com.auMy kids love it, especially my youngest daughter who always kicks my proverbial!

Hey what is it with having kids and  a menagerie. I have a son, twin daughters, a dog, rabbit and six cats and we are all barking mad. My kids are learning about the difference between having a house and a home as they have been with me to inspect properties for sale. They also all beat me at Cashflow for Kids, which is  a bit sad for me but g…[Read more]