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?

Oh I realise I put what I expect the property to be worth but not what I paid which doesn’t help! I paid $195k

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]

Saving 160k is very impressive! Congratulations!

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]

Also I want to mention that I think with FHOG finishing up rental return and demand are only going to go up even further…

I agree with what others have said, and that is, you would be crazy to sell any of the properties you mention…

Rental return is only going to increase, if you are concerned about it at all then yes definatley go option B fix the mortgages and bunker down…

Is your income ok that you could supplement the loans if need be??

I can’t imagine…[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

Well then why not invest and stay where you are, have that as your long term goal

Ipswich is apparently another area that will be increasing in value over the next couple of years..

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..

I am not sure what you mean by ULV?

I imagine it would depend largely on what area, a $70k house around my area would be, well, non existent!

Singer, I would be most interested to hear the names of the primary schools that you recommend around the Frankston area if you don’t mind?

Sophie

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!

Was it Margeret Lomas?

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.