A few people have asked me the same question lately. I think there are opportunities all over the place – however, if you are the cautious type – I always say, wait a few good months after an interest rate rise, as more houses will more than likely come on to the market bringing prices down. Thats not being specific to a state, I know.
If I had…[Read more]

NATS,
so good to hear of someone in my position
I have lodged mine and my husbands tax this year using etax and we have 4 properties and shares between us. This came about because last year I provided my accountant with spreadsheets of all of our details and expenses and all they had to do was key the amounts in and check over the attached…[Read more]

if I already know what I am looking for – I usually say a price range about 20k under what I am willing to pay as most agents will show you properties just above what you have suggested is your price – they cant help themselves!

TD

hb
I hope you are referring to yourself when you say this forum is full of ‘dreamers’ and ‘mortgage brokers’
other people contributing on this forum may take offence…

TD

Hi Andy,
It would be great if we all got interested as young as you!

In my situation – I saved a deposit for a home loan at age 22. We didnt have the first home owners grant then, so was a little different.
I spent some good years paying mortgage and renovating the property and then started investing in property when I was 29 using the equity. I…[Read more]

Hey Paul,
In my three years of investing I have attended free seminars (only one I paid $495 for), bought many a book and read this forum as well as others forums online. I also borrowed Steves book when I saw it at the library (sorry Steve I didnt buy it!)
I think the information out there is amazing – all you need to do is take action on…[Read more]

Not sure why you cant use your savings to buy a residential IP? Who told you this?
Maybe Stuart can answer this being the mortgage man…

TD

Thanks Stuart for backing me up and clarifying the use of FHOG on IPs.
But to Avenged – a word of caution on approaching a financial adviser…..approach CAREFULLY. This may be a gross generalisation, but they will probably talk you into investing in managed funds and trust (which they receive a healthy commision for).
My general rule is that if…[Read more]

We were up in Noosa last week for holidays and a look around…
wanting to move up there in about a year from now.
All I know is the population cap is going to make it tough to get in the area in the future.
Our friends moved to Sunshine Beach one year ago and are loving it.
The only thing is a few people they know have had to move back due to…[Read more]

Hmmm, this may not interest you, but this is what I would do……
1. Stay at home until you really have to move out (boring I know).
2. Use your money saved for a deposit on an investment propery to make it positive cash flow and put your pos cash flow towards more pos inv properties!
3. When you are really ready to move out – buy a home that…[Read more]

You will need to either sell a property for income – or borrow money against it – however I would think by that stage that income from rent should be providing your income if you have no more debt (depending on how many properties you have).

The only thing with selling obviously is the Cap gains. It will also depend on any other income you are…[Read more]

Also, mainstream media is usually based in city centres, therefore they are usually looking at the immediate area surrounding city centres – which as we know has not increased in value (Melb and Syd esp)

I try not to listen to negative feedback otherwise I never have accumulated a successful portfolio…
when my inlaw said “why on earth would…[Read more]

Hi Kirsten,
everyone is in the same position as you when they start….you will find once you make the first step you will be more comfortable and confident!!
Dont rent out your home if you can avoid it as you will not receive the tax advantages on it. If you can, stay where you are and purchase a positive cash flow property… You dont need much…[Read more]

i had a property that was in a block of units that backed on to the Ferntree Gully cemetary (VIC). Tenants were happy because it was quiet!!
The local council owned it, as I was sent many letters when they were extending it.
I didnt find it effected the value of the property, as some people may suggest.

TD

Margaret Lomas – all of her series are good in particular A pocket guide to investing in positive cash flow property….goes through the step by step process..
you can find more about them on http://www.edestiny.com.au

Also, the book that changed my thinking many years ago was “what I didnt learn at school but wished I did” by Jamie McIntyre.

both very…[Read more]

On an investors note:
I bought in Kalgoorlie last April, while my friend bought house in Kambalda..
she has had no tenant in now for the last 8 weeks..It also took about 6 weeks to find a tenant when she first purchased..
not sure where it is at now..there may be good capital gains coming I guess…
My property has changed tenants after the first…[Read more]

You can pay someone to do an independant study on the area / property you are interested in, (buyers advocate) or you can just do the research yourself, which is what I did..
I bought 2 of my properties without seeing them, but not before doing my due diligence …at least 20 questions on the property and area…then finally of course, you get a…[Read more]

Great work Redwing,
good to hear of someone who has just made it as that is what i am striving for.. I have $850k in property (value) and am looking at buying next week…hopefully make the mill!
I think it is psychologically significant for those of us who have started with nothing and remember trying to scrape together the initial deposit for a…[Read more]

Well thanks for the advise, I will check my lease agreement tonight.
Interesting to get opinions from 2 different sides.
Don,
Have you had bad experiences or is it just the Golden rule for you..
Tracy

TD

The trip is about $9500 then there are the fees by House hunters if you buy a property which is about $6000, those two costs do not include return flights to US $2000 so you are looking at $17500 just to get yourself into the US market..
It does get you to meet brokers and get access to positive geared property I guess, and includes the seminar…[Read more]