Hi all

yes there are always problems of some kind (we have over 20 properties), sometimes i feel the agents haven’t done their screening propertly. but then again i’ve managed proiperties and put in problem tenants also. On one occasion i let to a single mum, she seemed good and her mum came along with her to look at the house, i did some…[Read more]

hi Gocats

i’m surprised that you could find properties with such low rents.

In stawell ex commission homes rent for 120pw, horsham you should be getting 155pw, and Araart about 110pw (at least that s what i’m getting.

regards westan

hi Milen007

i live in Stawell Vic 240km west of Melbourne, i have properties in the Latrobe Valley 140km east of Melbourne and i haven’t been inside since i bought them in 1997. i also have properties in adelaide which i have only seen from the outside since i bought them 6 years ago. i don’t feel the need to see them the agents keep me…[Read more]

Hi all

George you are right in some of the things you say but you are also miainformed about the true benifits of positive cash properties.

Firstly you may be right some areas, perhaps Cobar (i’ve never researched it or been there) will be a bad investment, even if they are cash positive. Just because a property is pos does not make it a…[Read more]

hi rowdy and birdman

i think i will go. i really like his books, i don’t expect to get too much new from it but if i get a few new ideas then its been worth it.
westan

Hi chrissos
anythink is possible. the US have recently been talking about the possibility of deflation, who know what the effect of that would be. But the world of finance is different today to the 1920’s, then even the banks were putting depositors money into the stockmarket and those poor people who thought they had money in the bank and not…[Read more]

Brent

i’ve never sold something worth that amount but on cheaper properties the cost is about 3% of the sale price.
conveyancing costs 400 to 800
bank discharge costs you will need to see your bank if you have fixed rates it could be expensive especially if the rates are higher than todays.
regards westan

hi brent

it is all the extra cost you have which will include
selling agents fees
conveyancing costs
mortgage discharge costs

if you have owned the property of more than 12 months then you only pay capital gains tax on 50% of the profit.
regards westan

Johnmacas

as i said i did it with 25k, you don’t always have to have money to make money, but you do need to think outside the box.
i’m pretty sure you wouldn’t be able to find cash positive properties on the Gold Coast. but how about look elsewhere.
if you want to get somewhere you need to be more positive. sorry to say this but you are…[Read more]

hi guys

As i’mstillhungry said ask a lot of agents. i purchased a house recently and one agents told me the rent would be $130pw but 2 other told me $155pw. obviously i went with one of the $155 agent, and they achieved this for me. So it is wise to talk to a few agents, sadly some rental managers under value their homes or haven’t kept up with…[Read more]

Arty2003

if you are after a tip i suggested on this form a week ago a stock called FDR (Federation), it came out with an announcement today and from my source it will go for a bit of a run. this stock has been a Dog heading south for some time but many believe it may have turned the corner with its new CEO and aquisitions.
Do your own homework…[Read more]

Hi Nvios

yes if you put 20% deposits down you should be able to buy many properties. I bought my first 10 in 12 months a number of years ago when my taxable income was only about 30k, and my wife wasn’t working. sure along the way banks knocked me back but i’d just look for a new one. Hopefully your properties will appreciate in value over time…[Read more]

Hi mini

this time i’ve used Kiwibank
no application costs and 6.55% LOC

i’m off on Sunday
regards westan

hi leonid
i live inVictoria and i have purchased more properties outside of Vic than within.
There is no problem buying properties interstate, try to arrange holidays and property hunting together, QLD is always a nice destination.
All the paperwork needed to purchase is easily done without being there, fax and mail do the job. and when you do…[Read more]

hi colin

no a business for most people is NOT the best way to go. Companies are expensive to set up and administer. They are taxed at 30% even if your able to get your own tax down to 20%. if you sell you don’t get the benifit of the 50% exeption on CGT tax as individuals do, if you hold the asset for 12 months. And finally the banks will ask…[Read more]

yes mini you are right
i know that last year i was buying houses (in Millicent SA for 50k)and people were saying you could have bought them 10k cheaper 12 months ago. since then they have gone up 40k.
i’m not saying to you you should buy, but i am buying myself.
Be careful how much you take notice of realestate agents. they aren’t investors…[Read more]

hi kev

sorry to disappoint you but i can’t really offer any directions on Victoria. i’ve stopped looking its become too hard. the last property i bought was in Horsham for 75k rent $155 (this was in april) you can still buy these types of homes but will need to fork out about 90k for the same rent. so i wouldn’t be happy with that deal. who…[Read more]

Sorry one other comment who would have guessed that Moe would have had better capital gains than Melbourne and Sydney over this time .
westan

Sooshie
i had the chance to buy a few properties in Moe good condition 3 brm (recent paint) but my wife good nevous about Moe. it was 6 yrs ago around the time of Jaiden Leskie and there was a lot of bad publicity about Moe. Anyway i didn’t pick up some at 19,000. they would be worth over $85,000 now.[xx(] I like Moe and think its got a lot…[Read more]

Simo

don’t know much more about the gold resource than what i said, you may need to do some investigation through the papers over the past few days.
Re vacancy and prices, ring some agents and ask, i was looking about 18 months ago but ended up investing closer to home.
What you can do is use the internet. i have just looked up for you, there was…[Read more]