Good work Nathan. It is definetly achievable I'm on $42,000 a year before tax and I'm 2 years in, with 4 properties and not going to stop any time soon.

Hey Robbie,                      I invest in low income areas .Kingswood, St Mary's, Penrith, Cranebrook and possibly Mount Druitt(if your game enough), Also Richard above is right, Orange is a good area as well as tamworth. Something  important to do when looking for a property in a low income area is to try and target tenants that have being…[Read more]

George you've got the right mindset. It's good to see people so young wanting to invest like i did. I'm 22 and have four properties. It's very possible but i couldn't agree more with Angel and his SWIM method. A cheap investment property with a small reno and you'll be set to expand. Good luck           Tony

You can get non inspection ones? I thought they always had to be inspected?Tony

Also on the topic of Ashmont does anyone know anything about Buna Street? Is it rough etc?

Ajay i looked at properties down that way trying to find cashflow positive properties. I found plenty in Tolland, Ashmont and Kooringal but yeah wasnt sure to proceed with the areas reputation :S

Just remember the costs of selling. Conveyancers fees, Real estate fees etc. That would eat up a lot of the 20k profit if you cna get it to sell for 330k. Another thing to consider is will the area be going up more in the future? maybe just holding onto it for another year or so would produce a better profit. Just something to think about, but g…[Read more]

Hey Maree,                   Would i also be able to get a copy please? If so my email is tonyf387@hotmail.com.                Thanks Tony

Not so much a tip for saving for a depoist but when you do purchase dont be shy/embarrassed about asking for discounts for homeloans/conveyancing fees/starta reports and inspections. I've gotten establishment fees waived and fees reduced just by asking a simple question.

Banks are stupid they told me i could use my two properties as equity to get a 100% loan…Last day of cooling off get a call saying that it couldn t go through. Now i've got to use my own money. FML Ps hope you work everything out

With properties like this where there is such a big risk it might be best to find someone to invest with for eg parents, siblings, cousins, friends and work colleagues etc. Like terry said you need a buffer. Good luck with everything though 

Touche. I couldn't be bothered doing that. I'll just have to haggle on the managment fees i feel. Thanks for the advice

Yeah i thought they seemed too risky…id never heard of anyone getting financial freedom from them

thats sucks sammmee, im in the same situation except i found a unit in the block next door with a fully renovated kitchen and bathroom jsut like the one i was looking at and it was 200k+ the one next door sold for 190k so i put in an offer of183k havent got a response from the real estate agent yet and its being over a week…think hes trying to…[Read more]

Duckster you are a legend thanks mate

Sorry just re read it just to clarify my rushed topic. Do i need to get a bank statement showing the interest from the date the tenants moved in and show the tax man?

Yeah that was my initial thoughts. I don't really have time and room for more stress. thanks guys

Thanks champ

I jsut got a house using the first home owners grant and if your eligible for it (check your state/terrirtory's official website their should be a hotlien to call to check if you are able to get it. As for me1) The lender will organise the first home buyer grant and then the solictor/conveyancer will go over it with you.2) The stamp duty you don't…[Read more]

I recently just bought a townhouse using the first home buyers grant…U pretty much just need the rates/electrical/water bill in your name and you can rent out rooms and it will not effect the grant. My brother and his wife are leaving in two of the rooms and they are renting them off me. I've being told by my tax agent that there is some sort of…[Read more]