Sounds like it might just be a difficult vendor. If it's been on the market for that long I'm sure it's probably advertised at a unrealistic price and the vendor wants to get that price and has his heart on getting that price or close to it. Did you try maybe offering a shorter/longer settlement if that suits the vendor better? I personally…[Read more]

I'm about to do the same thing but i have a lot of holiday leave and i've got a clause in the contract that tradies can go in before the property settles and give me qoutes and order the materials they'll need. That way the day the property settles they can begin work. I'll probably be there a few days after it settles to do the floors and…[Read more]

Yes they exist and are currently funding my junk food addiction

There are plenty of other areas at or just below $100k with rents around $150 to $165 and the banks don't require such large depoists aka LMI is available. You really want to have your first IP as a property that will have both capital growth and cashflow. The capital growth will help you branch out to your second and third through equity etc I…[Read more]

I don't have any there but you used to need a 20% depoist minimun for any of the big four to consider it (not sure if thats still current though)

I dont think you would be able to claim interest on the personal loans so apart from servicalbility that would be another issue.

It'll affect your servicability unless you have quite a high paying job. The morgage brokers should be on very soon to give their professional opinion /suggestions

I am. One of the greatest tools to build a large portfolio

This will be a epic topic once Freckle gets on

Congrats have fun with the teenage years

Hi Paul can you Vendor Finance a property and then rent it out to tenants. Obviously you will be paying a higher interest rate so it will cut into cash flow but i like the low depoist idea?

Cheers Tony

I did the course at Tafe and its a piece of cake it won't take up much of your time but i decided to stay working where i was. It was much easier to build a portfolio with a shift working job rather than 9 to 5 hours that is if you want to build a big portfolio or a small portfolio. If your looking at having a small one a 9 to 5 job would be fine.…[Read more]

I've watched a lot or murder shows….watch out for Mrs W lol

I agree……. its just logical to have more properties if you can afford the depoists on them. Imagine having one IP paid off and recieving $200 cashflow a week or 4 properties breaking even but growing by 5 or 10% pa. You may not be able to access the money unless you sell but you will be making a better profit. Plus the more properties you get…[Read more]

http://www.yourinvestmentpropertymag.com.au/article/tony-fleming-6-down-and-34-to-go-142758.aspx

Hi E Wolfe link is attached.

Cheers Tony

They certainly are although from memory sinking fund is not

I'm at 7 atm and soon to be 8 at first they were just cash flow neutral and then as rents rose and after some small renovations(using youtube to teach myself how to tile and put kitchens together) it increased the capital growth and rents. The importgant thing to do is work as hard as you can. I used to work 7 days a week and still try and get as…[Read more]

Hey E Wolfe, 
                    I started a portfolio at quite a young a age with no savings and no security. The best advice i can give is work your ass off if you can get a second job or work longer hours. It may be horrible and limit your social life but I'd rather work 7 days a week now and not work at all in 10 years time. Work out your…[Read more]

A jokes a joke

Hi Jacqui,
I was lucky enough to buy there before its all started going up, both in the suburb and the surrounding suburbs just not sure if i should start buying land on delayed settlements and resell for a profit or just keep buyinng houses and units. My concern with land is that there are quite a few blocks in surrounding suburbs so its not…[Read more]