Some vendors are just delusional. I spent a while trying to get a property and the owner wanted 20k more than a unit that had sold in  the same complex less than 3 weeks before. The other unit was in better condition an even had a tenant paying a higher price. The poor real estate agent you could see how frustrated he was with the vendor when they…[Read more]

I've never done it or had it requested. You would definetly think it would be a PM's first job though.

Couldn't agree more. People always seem to fear/hate what they don't understand. Most people think that one strategy can be used in the many different cycles of property.

Normally if it sounds to good to be true it is. I'm sure it can be done otherwise you wouldn't be able to advertise it for so long without be called out which hasn't happened yet, but from what I've heard its more about trading property without ever owning it so your name is never on the contract you just kind of flip it back onto the market with…[Read more]

Starting off with a tenant in place is great your getting cash from the get go and you don't have to worry about it sitting there with no income until you get someone. Its really not feasible to do a renovation while the tenant is in there. In my PPOR i put in a new kitchen/floor etc. That was painful enough and it benefited me a LOT with equity…[Read more]

Hi Ian yeah its tough choice Ive been in a similar spot but with a PM. Great tenant for 3 years always ahead in rent and than lost his job. I did the wrong thing by letting him have a few weeks off until he got on his feet. A few weeks turned to months he is only just catching up now that he has a job but the rent should have gone up a few months…[Read more]

http://www.stgeorge.com.au/help/calculators hope this helps

Every bank website has a repayment calculator that you can look at. The rate will go to the standard variable so i wouldnt be worried about what its saying you pay back after the initial 3 years because 100% sure it won't be the current variable interest rate at the time.

Jamie's right the valuer does their own rental estimate. I've had a valuation come with a much lower rent than i was actually recieveing and the bank just asked for a Property Manager to verifiy that it was the current market rent.

Yeah there is no set percentage of calculation… Research is your best asset in this aspect having said that I've had very few offers accepted the first time even with them being reasonable, so now i always have my first offer quite low and ridiculous and than you begin serious negotiations. It worked well for me once with a 16% discount of the…[Read more]

Hi harry you could always rent a room if its not being used. is it Sydney metro or Outer suburbs?

Is the property regional? I've had extremely ridiculous quotes before in regional towns. You should tell your PM to get three quotes before proceeding with any work unless its a major emergency. 

Yeah unless your portfolio was substantial i think you would struggle making it worthwhile. Just get a crappy car that gets you from a to b and spend the rest on property

I've self managed. Can be beneficial if you have a steady tenant. I took over for one who had been paying religously for 3 years straight. Was definetly worthwhile to get the rent weekly in your account paying down either your deductible or non deductible rent. Eezirent is a great program to get its $29 a month for unlimited properties and has…[Read more]

I agree with the above. I've done a JV with a mate and everything is fine with it but the bank does view it as they half the rent as your rental income and the full loan including what the other party owes owe. If servicability isn't a problem than it can have its benefits. I think JV works best in property flips. Less chance of you taking the…[Read more]

This has definetly got me thinking. I got overcharged by $5k on LMI and they picked up on it like 8 months later and refunded it but this topic has definetly got me thinking to double check the interest.

Is the property in good condition?

From what I've heard its good for Mum and Dad/SMSF investors who will worry about not having a tenant and making the repayments, as you said  the rent is all sorted. Depends what sort of portfolio you want and what you want to achieve with it. I don't think they sound that promising. I couldn't imagine much cash flow with management at 17% and as…[Read more]

Maybe the original buyer got the bank valuation and realised he was paying to much. There is no real way of checking if a offer has been submitted that I know about. Best thing to do is stick to your original offer if you think its the market value and maybe offer shorter contract terms if they want it sold in a hurry might help sweeten the deal.

Numbers don't lie but be careful with furnished properties. Is it already tenanted? I would worry about people been able to pay their rent if they can't even afford a tv or a bed. Furnished apartments only seem to work for the elderly or Uni students.Is it close to a university? Has the tenant been in there long?