Hi 111111,

It’s a bit difficult to judge when you don’t know all the details, as tom100000 said. Is it pos. or neg. geared? How long has it been on the market? Is it a bargain as it is, or does it just pass the criteria?

I’d DEFINATELY use it as leverage to reduce the price, and say you’re prepared to walk.

I guess in the end, I would go with my gut feeling, but definately factor in to your YEARLY budget, that treatment / inspections may be required.

Do the numbers stack up after this?

Don’t be afraid to get out of the deal if that’s what your head is telling you.
I cancelled a deal recently, and felt really disappointed and bad, but THE NEXT DAY I found a MUCH better deal.

Good luck,
Del

Hi mfm69cairns, (wow that’s a mouthful)

The only thing that I could add, would be when building a new house it’s very easy to get carried away with “little extras”. In building a new house for an IP, or doing a reno for an IP, I feel the most important thing is set a strict budget, and DO NOT go over it, (unless something unforseen happens).

Stick to basic styles, basic colours and basic low maintenance gardens.

Good luck and enjoy it,
Del

Hi Dianne,

We have done 2 reno’s which incl. painting whole house, and we also obtained quotes for the painting. We were quoted $3000 – $4500 for inside of one average 3BR house. I think it depends whether the painter has a lot of jobs on at the time or not! After doing it ourselves, I think that $2500 is reasonable!!!!

We did it ourselves, with extension rollers and brushes. It takes a whole day to do your preparation work, i.e. cleaning down walls and filling gaps etc… If you skimp on your preparation, your whole job will look cheap. Always tape around windows etc. in advance. It’s a lot easier than trying to scratch it off later.

I believe that using an airless spray gun would be good to do on our next one, now that we have learned a few basics.

If you can wash your car in a manual car wash, you can use an airless spray gun. Similiar technique. You should use an acrylic water base paint, cause it’s thinner, and easier to clean up mistakes. Always use an undercoat/sealer to get an even coverage. It will probably cost you a couple hundred to hire one for one day.

Good luck,
WILANDEL

Hi ENJOLady, STEVE & DAVE & Crew,

I’ve got to say that I totally agree 100% with what you just said.

Last weekend we managed to purchase a block of 5 units at a great price, even though other “big investors” were in town looking to buy. (The agent handled the sale by the book, however, if he wanted, he could have held our offer until the other investors inspected the units, and played us off against each other. He chose not to.

The other investors later asked the agent to find out if WE wanted to sell the units at a higher price than we paid. We declined. (AT THIS STAGE)!!

The agent complemented us, saying that I think that you will make great landlords, as you seem to really care about the tenants. We had just explained how we would give incentives to the tenants for paying rent on time etc..etc…

Thanks Steve & Dave for making us look like professional, without your tips, we wouldn’t have these units now.

Thanks again,[:X]

WILANDEL

Thanks Spider for your kind thoughts,

Yes, it’s sad to see the oranges etc, being destroyed because they can’t be sold etc…Heartbreaking in fact. Especially when they taste a lot better than the IMPORTED ones!!

I still think property along the Murray will keep good prices, because there is also a lot of tourism that keeps the towns booming. I’ve just got back from looking in the Cobram area.
I love their weather too, much warmer than KooWeeRup at the moment.

Farmers are a tough resiliant bunch, and farming has become much more of a science than it used to be. Even the older farmers are using advanced technology to improve crops and are diversifying.

We get knocked down, but we get up again!!

Thanks for caring,
Del

Hi everyone,

What a great idea!!

Well where do we start? My name is Del and I’m married to William. We have 2 girls – Sarah 5.5 and Chloe 4.5 years old. They’re at prep & kinder.
We are asparagus farmers and live on a farm at KooWeeRup in West Gippsland VIC, I own 3 horses, which is now my 2nd biggest passion. Property investing has pushed them aside for a while.[]

We started our investing journey this year, after attending Geoff Doidge & Paul Eslick’s seminar in Brisbane in February. We have since purchased 2 houses and done reno’s, and 1 block of 4 units. They’re all cashflow pos. Today we put an offer on another block of 5 units, and 2 houses. We are using the buy & hold strategy at the moment, but would like to learn more about wrapping. We also hope to strata title the units in the future.

Our goal is to be able to sell our asparagus farm and not rely on seasonal/casual workers again!!

It was great to put faces to names at the seminar, and perhaps we could all meet every 2-3 months or so, to keep in contact with eachother.

Talk to you all soon,

P.S. Sarah AKA Sooshie,
Hope you have a great holiday in Fuji and a happy birthday next week.

Will & Del
(WILANDEL)

David,

I agree with everything you said. I experienced this yesterday in a SMALL regional town about 320kms from Melb.

The RE Agent’s eyes were still bulging, when in the last 3 days, about 4 investors have come in and bought anything they could find.

They are buying like it’s their last supper – don’t leave any scraps !!

FOOLS AND THEIR MONEY ARE SOON PARTED !!

Del

Joner,

I’m looking REALLY HARD for another property.
If I can find one, you’re on!!

The flight will be on me.

We do our renovating, long days over short period of time. It is so satisfying when it’s done though, it’s almost payment enough for the boost to your confidence and the motivation it gives you to do it again, I reckon.

I even love mowing lawns at home because of the before and after feeling!![]

Good luck,
Del

Good on you dreamer and welcome,

I too, did a similiar thing today. I rung up the personnel agency that I was a week away from starting a 6 month temporary full time assignment with, and said that I am now unable to do that assignment.

I’m just not going to have the time to work FOR SOMEONE ELSE!!!!! You know what the best thing is that it felt GREAT!!

I did it because I had this voice in the back of my head saying “is this temp assignment going to get me closer to my goal, or further from my goal”. The answer was easy – FURTHER.[8]

Let us all know how you are going.

Del