Some investors may buy houses near universites etc to lease to students, most people on this site choose not to buy 'student accommodation' in large compelexes as they do not historically have good capital growth and are also very difficult to obtain normal bank finance for.

IS there a more senior staff member who you can speak to regarding the lack of professionalism and customer 'service' that you are recieving? They may not care, however, if they value their reputation they may make efforts to ensure that this employee carries out their role until it is completed, not just until settlement.

I have just looked at a property that i personally don't find very appealing, however, it's proximity to all facilities is excellent and the rental facts and figures show a great return and about 2% vacancy rate over a very long time frame (10 plus years.) Needs some work done to it, just doing the number crunching to determine if i go ahead with it or not.

Sonya

Hi I was looking to buy in Orange, before deciding to buy in Vicoria. i spoke to a number of real estate property managers and they were very forthcoming regarding which areas of town were the 'better' areas and would have better rental returns, quality of tenants and reduced vacancies.

I personally have found property managers in the town or suburb where you are looking to buy are invaluable. They givan hones answers on where are good places to buy becuase they deal with landlords on an on-going and hopefully longterm basis as opposed to the sales agents who only deal with someone until the property has sold. AA happy landlord and happy tenants make a PM's job sooo much easier.

I don't have the info on Orange anymore, however, I am sure that the PMs would be happy to talk to you

Sonya

There is another post on here somewhere saying that if there are more than seven non-related people living in a dwelling then it is classified as a boarding house, rather than a rental property. Then council regs may be being contravened as well as issues wit body corporate if in a unit complex.

cheers

Sonya

I didn't imply that everyone has splurged on properties of $700k or more, i said that those people are the ones who often are the most vocal about rising interest rates. I know that it is not easy to afford property, I personally only earn $55K a year and support myself and three children on that wage, their father contributes nothing towards their living/ education/ sport costs. My car is eleven years old, we eat out maybe once every six weeks, most of my furntiure has been purchased on ebay and even a garage sales. But it is all clean and servicable. My mortgage was just under $175K.

Both of my parents are deceased so there is no help there. I apologise if anyone was or is offended by my comments , that was certainly not my intention.

Fortunately I don't live in the city!!! I chose to live in the Blue Mountains for 12 years and now live in a rural area. Earning what is apparently a below average wage, however, can still afford to buy my own home and up to my fourth IP in three years. it all comes down to the choices people make. Noone forces people to live in the city and if they move to a rural area they don't need to earn the big bucks to survive.

i was in the Blue Mountains and Sydney last week, travelled from the Lower mountains to Central on the train, took 1 hour 15 minutes.

It may be worthwhile speaking with a mortgage broker to get their input on which lender to go with. They will be able to look at the different products available from a variety of lenders and find which best suits your circumstances.  If you approach lots of different lenders yourself it will show on your credit rating history if you have been knocked back by a number of different lenders.

The bank manager is looking after the bank's interests, not yours. they want to have an overabundance of security to protect their own interests. More than likely the manager is not investing in property themself and has little idea or interest in how CC will affect your desire to invest in more than one IP.

Sonya

Apologies for my previous post it should have read 'twenty of more years' and  'over extend' rather than 'ever extend'

GOM

Again, it comes down to choice. Why do people 'have to' live in inner west Sydney? People can, to a certain extent choose where they live. this would be helped even more if the governments and big business put a bit more thought and effort into decentralising some businesses. With technology today, emails, video teleconferencing etc. you do not have to have businesses set up in the middle of the city to be profitable and/or successful.

Moving to outer suburbs or even rural areas would also be cheaper as far as rent or purchase costs for commercial property is concerned. Travel time for staff would be shorter, therefore they may be more productive, have a better quality of life and be able to afford the type of home that they want.

I know that the rental and property market has gone crazy, but it is fuelled to a large extent by people who 'want it all' now.

I can't understand how first home buyers are able to afford loans of $700K+ as seen on a weekly basis, usually at auction. Will these people then cry poor and say woe is me, can I have another FHOG? There was no such thing when I bought my first property. There is a lot of moaning and groaning from people saying they will never be able to buy a home. maybe they need to lower their expectations for their first home and not expect to be  able to afford what mum and dad have after two or  more years. Start small people, get a foot in the door, reno or extend the property, or move up gradually, you don't need to have all the bells and whistles with the first home you buy.

If people prioritise their spending and don't ever extend themselves in the first place, then they should be able to meet these extra repayments without too much stress. If they are stretched then they need to get creative. Rent out a room or garage space to increase cashflow in the short or long term. So many couples buy a four bedroom home, use one of those bedrooms to produce income.

Sonya