Hi,

i would get on the realestate.com.au site and have a look at what is currently available for sale at the moment as well as what current rental returns are. You may also like to google the town where you are looking to purchase to find out what the current and expected growth for the area is and what development or businesses are in the area that may impact the need for rental properties. you may be able to buy a similar property for less or may find that their costs and projections are at odds with what others are saying about the area.

the long answer is research, research, research!

good Luck'

Sonya

There is a huge long thread regarding Park Trent Properties, the advice appears to be stay as far away from them as possible

cheers

Sonya

Most Real Estate Agents are happy to give you an idea of what a property might rent for. You can also ask for written rental appraisals from these other agents. If you find a suitable property, give serious consideration to employing one of the more helpful R E as your property manager. Many banks want a written rental appraisal when assessing loan applications for IPs

cheers

Sonya

I am also thinking about purchasing a property with an existing small older house, currently rented, with a huge block that would fit at leats two perhaps three townhouses behind the house. I am trying to decide whether to buy and hold and develop/ build the townhouses or to buy and subdivide and sell the large block to someone who has more knowledge and expertise in building. Any suggestions from someone who has been there, done that?

Thanks Sonya

Jenny talk to the ato and centrlink as my friend has boarders (not family members) and she was told by centrelink that they did not see this as income that she recieves from them as she also provides meals. The best advice would be to talk to the authorities involved. good luck Sonya

Hi

i bought my first property with my twin brother when we were twenty three, we paid it off in eighteen months. We then bought another house which I lived in but paid the same amount as my brother in loan payments as well as an additional 'rental' payment. i also had a friend living with me who also paid 'rent'. Sold the first home when we were thrity so my brotehr could use money for a deposit on a home with his partner. i then bought another home with my then partner and sold my second home. My partner then wanted to buy brand new homes which we bought two  of in Brisbane, they were both negatilvey geared. When we divorced all the homes were sold.

I bought my PPOR after my divorce then bought two IP three and four months after that. i have also paid a deposit on a block of land in Vanuatu and am currently looking for another IP or two depending on what I can find. my two IPS are cashflow positive now that I have refinanced them..

What i have learned: don't pay off IPs when first starting out. use the equity to buy again and/or put as much money as possible into your PPOR
Do as much research as possible before buying
Regional areas can provide excellent rental returns.
A man is not a financial plan (quote borrowed from property women!)
Don't allow others to tell you that you can't do something or that you are too dumb to invest. (MY ex's favourite comments. )
Have fun looking !!
cheers
Sonya

AS a person who has worked in the childcare industry, there are regulations that the operator of the business is required to meet and adhere to, these include having childproof fences around the whole property with childproof locks, safety glass, adequate parking provisions, covered outdoor play areas, certain outdoor and indoor learning spaces allocated per child and dependant on the ages of the children in care  and thermostatically controlled hot water .  They also need to have sufficient and age appropriate toilet facilities. These regulations are the responsibility of the childcare provider, however, I don't know how many of these they can request from the landlord. have you spoken to the current owner of the property? Also speak to the local governement as well as the state licensing authority for chidlcare services.

Cheers

Sonya

Hi Vitale,

As others have previously stated the valuers and banks are being far more cautious now in their  property valuations. I have just refinanced loans on my two investment properties and the bank valuations were at or below what I bought the properties for nearly two years ago. I was looking at buying another property that I had Richard do a residex report on and the bank valuation came in  ten percent lower than the residex valuation. Thats just the way the market is at the mometn unfortunately. good luck
Sonya

Hi Adski,

As a landlord I would not consider the course of action that your landlord has taken. it doesn't appear to be ethical or fair and probbaly not legal either. Also i tend to value my tenants, if they are paying their rent on time and looking after my property then I want to keep them, not force them out and take the risk on the property remaining vacant for an extended period of time, paying new leasing costs and/or getting a tenant 'from hell'.  I agree with Duckster, see where you stand legally

cheers

Sonya

Simon, I have been looking at property in general on Real estate.com.au and I occasionally see hotel/motel properties for sale. Often, if you choose to narrow the search to 'blocks of units' they will be listed in this area. cheersSonya