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.

Hi Tom. They are sites that essentially give you every bit of data possible. Past sales history, current owner information, stats on rents/population/demographics etc and they show similar properties sale prices so you can determine the market price when purchasinjg a property.

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 back which we cant do until he isn't in arrears anymore. Do you have landlord insurance?   

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.

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 asking price on the first offer.  

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. 

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 plenty of information for each state etc. Just make sure you follow the current market rent when adjusting the rent.

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.

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 Fredo said they are usually in poor growth suburbs although I'm sure if you researched a bit you could find one in an area with potential.

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?