The place I’m looking at is asking 65,000 – it has been renting for $100pw. I would move into it for the first 6 months of ownership – basically doing what you said redwing. then I might be able to rent it for $130 or so.

Thanks heaps – I hope I can contribute more soon, rather than asking of others. I’ll keep you posted as to how I go.

Off to…[Read more]

Is it possible to place a clause in a lease agreement stating that the owner has the right to kick the tenant out if they cause $x damage, or get x no. of complaints from neighbours etc. etc??? That way you would have a leg to stand on if your “ideal” tenant turns out to be a dickhead?

Can it be done? I am assuming it can’t – otherwise it would…[Read more]

Hi pekay,
If you have a specific property in mind I would sit down and “do the math” if I were you. The 11 sec. solution is just that – a quick way to determine whether the property MIGHT generate a +ive cashflow. The only way to find out for sure is to write up a detailed budget for the property. (Or buy the thing)

I dare say this solution can…[Read more]

Hi all,
Thanks for your posts on this topic, yes, even you lifex – good to get alternative views from people who know their industry.

I am a firm believer in the idea that “you get what you pay for”, however, I know there are true bargains out there to be had and that you have to go looking for them.

I started the topic to provide a base for…[Read more]

Hi Persistence,
I must be honest with you – I am at the same stage as you – I don’t yet own any property but I’m getting closer every day. May I suggest that you start looking around your own neighbourhood to begin with – stick with what you know best, especially when starting out. There is a neighbourhood in my area that is salt affected – many…[Read more]

Has anyone got any info on ways to obtain similar info on specific properties in NSW?? i.e. who the owner is, what it has sold for previously etc. Is there an agency or government department that would be able to help me??

Cheers,
Spank

Age doesn’t negate effort – you can never be too young or too old.

Another thing I have discovered with pavers (and probably a lot of other building materials) – while the more expensive ones look nicer in the display areas, the cheaper ones still look fantastic in their own right once they are laid.

After all – by the time you put the cheap ones down in your backyard, there are no “nicer” (more expensive) ones…[Read more]

Another big one I almost forgot – CASH IS KING!!!

As I recently found out, even the ‘big, inflexible’ retailers like Harvey Norman etc will cut a portion off the RRP if you offer cash.

You can negotiate the sale price of just about anything (especially if you are spending a relatively large amount), once you feel a fair price has been reached,…[Read more]

Yack, you will be pleased to know that I have taken your advice and purchased Peter Spann’s “How you could build a $10m…”. I am nearly halfway through it and learning quite a lot – good to view property investment from another angle.

Maybe one day, a very wise investor will devise another method altogether, bringing wealth from excellent Spann…[Read more]

Thankyou Steve for your help, thanks Sis for your support – great to hear from like-minded people.

Cheers,

Spank

Age doesn’t negate effort, you can never be too young or too old.

Stickmen – best thing to come out of NZ.
Oh, that and QF44.

Watch for the bit where he goes “Yeah, heard you had your fingers in a few pies” – you’ll know what I mean.

I am 19.

I don’t want to work in a paid job (unless I really enjoy it) for a single day after my 30th Birthday. $100k per annum (in today’s money) would do it.

Before I die, I want to donate $1,000,000 to research into Cystic Fibrosis. Then I can die with a smile on my face, while signing a will that cuts out any bastard that ever doubted me.

Sorry, maybe I should have been slightly more specific. From what I know and have seen, I would reccomend looking at a map and highlighting towns and cities such as Ballarat in VIC (where Steve started investing) or even those like Dubbo, Bathurst, Orange, Wagga etc. in NSW. Then do some research into “sattellite” towns around these, say, within…[Read more]

Exactly that – out in the “nangers” as you put it. Something I have taken note of in these forums is the continual reference to small towns in WA. Don’t get me wrong – I’m not trying to put down the capital cities, but be prepared to travel a few hours to find something that is cashflow positive. As Steve said “it’s the application that has…[Read more]

Open your eyes Yack!!!
I don’t know where you are from or how far you’ve looked. I must be upfront and let you know that I am new to the property investment game, but one thing I do know is that there are properties within and not far from my area that would easily satisfy the 11 second solution.

They might not be half-million dollar properties,…[Read more]

Where are you based and where are you looking to invest?