Sorry I am not aware of any property groups but I am sure there would be some around, it might be an idea to ask on here
Are you familiar with Margaret Lomas at all? I find her a very inspirational intelligent woman who has built her career around property investment, she runs a company called Destiny Financial and they have offices all over the…[Read more]
Glennsa I think it is a very creative idea that you have – at the end of the 12 months essentially you will have turned a $140k mortgage into a $50k line of credit, is that right? You would still be paying off your usual repayments, plus the rent from investment property?
I am new to this and trying to make sense of things, I think it sounds like…[Read more]
Melton is a hot spot – I have heard it being talked about quite a bit.. I believe Margaret Lomas has mentioned it but I might be wrong..
Personally, I would go for it, don’t rush in though make sure you research what houses are going for and get yourself a good deal.. be a strong negotiator and get yourself a good deal (that is why i love private…[Read more]
Do you think a rental increase of over 20% is ok and acceptable, if it is in line with the current market? Probably not ok with the tenant of course, but do you think a tribunal would take into account the current market and the fact the existing rent is way under market rents?
This is true, you may need to contribute toward the mortgage – I would rather do this than have cash flow positive or neutral, but all my eggs in one basket – the capital growth in 2 properties to me is more attractive than 1 property but not having to supplement the mortgage.
Have a look around.. I have just bought a unit – waiting to settle -…[Read more]
Personally, if I were you, I would be buying 2 properties in growth areas – I love Frankston using your savings as deposits but not all of it, just give 10% deposit – and then let the rent pay your mortgages. When the properties go up in value and you have more equity then borrow against and keep…[Read more]
I have a 93 Mazda Astina 323 – with aircon! But the aircon is broken – last summer I nearly fainted while driving so my darling Mummy has been kind enough to give me her old Ford Falcon, I think it is a 97…
I contemplated buying a new car a few months ago – but would rather put all my money into building wealth at this stage.. maybe by the time…[Read more]
As close to CBD as possible – Margaret Lomas talks about Ipswich a bit.. I was searching and found around bundamba pretty cheap and close to CBD mind you I know nothing about the area at all
Could you afford to buy a property in the area you currently live in? If so, I would potentially look at that option.. rather than having to pay rent money.
I also look at interest only as a better option that renting aswell, but I would only do interest only if you are quite confident that there is going to be substantial growth – I have one…[Read more]
Congrats! Good move! I am also invested in this area and looking forward to see the improvement that will come over the next few years I am eagerly awaiting settlement of my second house in the area..
Margaret Lomas is very interesting, if anyone has foxtel she is on the business channel every Monday night with a panel of other property related people. She loves Frankston!
That is most interesting, Frankston does have a very progressive council and lots of plans.. I think and hope, it will be a completely different place in 10 yrs… there is still a lot of vacant land around like in Langwarrin and Carrum Downs, but as this gets developed I really believe the area will go up astronomically.
I don’t see how you could do anything, if they own one property each and are both entitled to a vote, just because they happen to be in a relationship together shouldn’t make their vote have any less impact than the other owners.
People bought in Frankston North for 60-80 2 years ago?? That’s a pretty big exageration isn’t it or perhaps you are missing the 1 in front.
A friend of mine bought in Frankston North about 6 yrs ago for 100k (burnt out inside) spent about 50k fixing up and could possibly sell for about 250-270ish now.. that admittedly is pretty good.