I have two houses in Gunnedah – my best properties, one house in Forbes and flats in Leeton

If you go to Bunnings they have a display with all different configurations of shelving, drawers, hanging space etc. They are all priced so you can get an idea how much it will cost for the layout that you want. Again I have no idea how much it would cost to have it installed. But if you are relatively handy I think it may be fairly easy, siimilar…[Read more]

Emma, you may have more luck getting feedbakc form people who have 'been there, done that' by starting your own new thread. As you have noted the original author of this thread hasn't commented for a while. But there may be other people on the forum who have also completed or avoided similar renos.Cheers Sonya

I would be ringing the agents as a potential tenant to see whether they return your calls, what advice they give you etc. Because how they do these things is a pretty good indicator of how well they will first of all veto unsuitable tenants, how they will promote your property to potential tenants as well as what info they give to potential…[Read more]

I agree with Richard, i have had dealings with a mortgage broker who had no idea regarding cross collatorilising ( not sure if i spelt that right) he kept pushing me towards loan products that were completely unsuitable for what i wanted to achieve with my investing. YOu really need to find out what investing experience they have before you…[Read more]

I had a property where the tenants bolted and left the property in a terrible state. my new property managers insisted that the previous property managers had to organise and pay for the repairs to the property as they were negligent in their 'property managment' a term i use very loosely!!!! Although it did take some time. The previous PM did…[Read more]

what loan structure do you have?are you paying principal and interest or interest only? Are you claiming depreciation?

Sara, i would agree that you need to get as much advice as you can from legal aid and make sure that you are not giving away your hard earned cash. i made the stupid decision to let my ex basically 'run the show' when we divorced and i have regretted it ever since. My understanding is that you don't have children, but you still have a financial…[Read more]

I would be trying to determine whether your offers have been given to the owner. If possible write a brief letter to the owner and address it directly to them at their address. If these offers have not been submitted, both you and the vendor can lodge a complaint to the real estate board in your state.good luckSonya

Lambchop,Whenever i a m looking to buy an investment property I call a number of real estate agents and ask to speak to their property managers. You can find out what areas of town they would not put tenants into., what areas have the highest demand, what type of property are most sought after as well as any other 'tricks of the trade' to attract…[Read more]

I think one of the best ways to address the 'affordable housing shortage' is  by encouraging people to realise that you don't have to live in an expensive city. There are some great, large and even smaller regional towns that have fantastic homes for much cheaper prices than those in the city. When i divorced four years ago i couldn't afford to…[Read more]

I have just had solar panels installed, i only have six panels on my roof, but they are producing more electricity than i use. i also recently replaced an electric hot water system with a natural gas system, i am currently waiting for my rebate from the nsw government for the installation of the gas hot water system, from memory about $500.I went…[Read more]

HI, i have been looking at buying an old nursing home that has a large kitchen 16 rooms and a number of bathrooms and setting this up as student accommodation. Any thoughts? My niece is off to uni this month and her accommodation costs are $200/week with 4 other people in a five bedroom townhouse, this includes utility costs.She is responsible for…[Read more]

Make sure that everything is done 'above board' don't try to rip her or her family off. If you have known her for a while and have actually been 'neighbourly' she may be more receptive, than if you are just 'business oriented' and have had no previous contact or conversations with her.May also be good to speak with her when her family are present…[Read more]

BTW, has she vacated yet?

be careful with regards to recording phone conversations. When i was going through a nasty divorce i recorded conversations that I had with my ex when he was abusing and threatening me as 'evidence' of his behaviour and attitude to me, his children and the court orders. i was told by my solicitor that unless I had his permission to record the…[Read more]

Bought another Ip, this time two flats cashflow positive. Bought in a trust structure this time, all new experience.Downside, bad PM ( i use the term very lightly) allowed one of my properties to get into a disgusting state of disrepair and filth, did not even know that the tenants had done a runner until i complained for the umpteenth time about…[Read more]

Clappy,you can still find cashflow positive properties in large regional areas that only require a relavtively small deposit. This can then allow you to earn an income to put towards purchases in larger towns or cities.

i will keep you updated regrading everything to do with my property

I have spoken with the new property manager this morning and she has taken the owner of the previous RE to the house this morning and told him that it needs to be cleaned up ASAP at the RE's cost. This should be done this week. Also she has advised me to speak with the previous RE to organise for them to lodge a claim with the tribunal to attempt…[Read more]