Hi Mark,

Sounds like you’re at the ‘still planning and researching’ stage. I’d like to point you out to this link first
https://www.propertyinvesting.com/strategies/negativegearing.html

Also, I’m not sure about the rents close to the city, but my friends who have a baby and live close to the Sydney city (for the lifestyle as well as work) and are paying $700 pw rent, so is the figure of $400 rent p.week feasable with a 1 year old (they actually need more space as they grow [ohno] and get more active)?
Should one of you loose your job (hopefully this will not happen of course) and you are reduced to 5K per month, will this change things?
How much do you expect to achieve from the sale of your current abode? Do you have any equity in your current house?

Good to see you’re forward thinking
Cheers
Sooshie

When a problem is created the solution is created simultaneously

Hiya,

Finish school. At least you’ll have that notch in your belt.

Recently watching an episode of ACA (Melbourne) the interview was with Lindsay Fox and his prized cars. The thing I believe was the most important was when he said that ‘Family and Friends’ are what’s the most important to him and the rest were just things he collected on the way.

Get the Millionaire Mindset and research those who’ve done it and made it.

Cheers
Sooshie

When a problem is created the solution is created simultaneously

Hiya,

What’s your definition of ‘friend’?
True friends …. How many can you count on your fingers (include toes if you like)?

Cheers
Soosh

<span style=”color:green”><em><strong>When a problem is created the solution is created simultaneously</strong></em></span id=green>

Hi George,

I think it still might be a goer, depending on how much you can negotiate on price. Perhaps vendor can leave money in the deal, then you’d have money to do the place up (if it’s worth it ?).

I forgot to mention, that you can get a little plug which you insert into the powerpoint and little LED’s light up if there is any power leakage. Dick Smith Electronics or Tandy sell them if I recall. It doesn’t replace a true electrical report, but it can tell you if there are any problems. This gadget is worth buying!

Glad you enjoyed my post []

Cheers
Soosh []

When a problem is created the solution is created simultaneously

Hi Leigh,

Howdi girl! []

Only ones I know for NZ are one’s you pay for.

Cheers
Sooshie []

When a problem is created the solution is created simultaneously

Hi George,

Welcome to the forum []
I’m unsure from your limited description where these blocks are, however they might be older and in need of re-wiring, perhaps re-plumbing, re-guttering, re-roofing etc. These items need to be checked out professionally. However there are a few things you can do yourself…even if the RE agent thinks you’ve gone loopy [:0]

Don’t forget to talk to some neighbours to the block, that might let you know what sort of tenant it attracts []
Just use your senses.
Hearing – Listen for noise, be it scratching noises (rodents or roaches), traffic noises etc. Knock on wood (truely!) and listen for any hollowness or vibration under your hand (ie. at door jambs, window frames, archetravings etc). Walk on the floor and listen for any creaks (if there are floor boards)
Smell – any smell of rot/rising damp etc, run a tap and smell the water that comes out. Carpets can also carry smell (but I’ll leave the reason for that out from this post []).
Taste – that’s if your game drinking the water after you’ve smelled it! []
Sight – Wallpaper (used to mask a multitude of sins [}]), Paint flaking off (can also be because of rising damp) New painting especially on ceilings of bathrooms (cover moisture damage). If electricity connected, check if fans are working in bathrooms. Generally your bathrooms and Kitchens are the most expensive to replace. Roofing (downpipes and grates) might be a bit difficult to check if it’s a block of flats though. Check that the toilet flushes/adequate water pressure…
Get a marble and place it in 1 corner of the room (on flat surface) and see where it travels to. That’s the slope of the floor. Do this in the bathroom, (in case it floods you want to make sure that there is a drain at the lowest point of the slope).
Look at the laundry area (not sure from your description if it is a communial laundry room or in indivudaul units).
Look to see if flywire doors, doors and windows open freely or not. Also check cupboard doors or any sliding doors that they open gracefully or not. Believe it or not, a couple of places I went to, I’ve had door knobs and even doors come off in my hand []
Touch Well you’ve walked around and opened doors, now if you suspect any rising damp, feel the walls with an open palm against the wall, especially in bathrooms and of the adjoining the wall where the shower/bath recess is (usually another room which shares the same wall).
If Kitchen is tiled (or any tiled areas in bathroom or kitchen), run your hand with firm pressure over the tiles to see if they are securely adhered to the wall/splash back. Check that grouting is complete. If kitchen benches are laminate, make sure that at seams at the kitchen sink (or where ever there is a laminate seam) the laminate is flush with the adjoining sheet of laminate. If not, there could be swelling underneath the laminate sheet due to water seepage.

I hope this helps some… it’s a long post I know.
Don’t be afraid to look funny doing these things infront of the RE agent…after all it’s your 170K at risk, not the RE’s.

Have a look to see if there are any little cosmetic things you can do to improve the look and feel of the place, cheaply.

Let us know if you buy them. Sounds nicely cash flow +ve assuming they are all rented out.
Good Luck George!

Cheers
Sooshie []

When a problem is created the solution is created simultaneously

Howdi,

Isn’t this site just fantastic! Congratulations [:o)] it’s looking spiffy now [^]
Well done!

Look what we got for New Year: A NEW LOOK PI! []

Cheerio and Have a great weekend
Sooshie []

When a problem is created the solution is created simultaneously

Hiya,

Great things to come…

HAPPY NEW YEAR ’04 EVERYONE!!!

Cheers
Sooshie

When a problem is created the solution is created simultaneously

Hi Leigh,

Wishing you a Merry X Mas and a Happy New Year!
All the best for your trip and we’ll see you in the New Year.

Cheers
Sooshie []

When a problem is created the solution is created simultaneously

HI FW,

So your asking for a head count then…. No probs.

Cheers
Soosh []

When a problem is created the solution is created simultaneously