Renel as Brian says – you perhaps need to check your criteria. If you are doing all that research and finding something wrong with them- then you need to check how you are looking at the properties. I would kill to have all that research at my fingertips! I am not so good with spread sheets. I said in another post- one of my lecturers said when…[Read more]

If you want to know where to look to find what property has been doing – then check out RPData. You can go by suburb to get a picture of what property is doing without bias – you get hard facts.
As powderfingers suggest – with that sort of money- look into capital cities – its a safer bet…oh that is if you are betting I guess. I mean a safer option.

These are very tricky questions. I would steer away from trying to make something to complicated for the ATO. I dont think it would be possible to buy it in 2 names and have 2 different applications of Investment and PPOR.
With respect to your second question- say if you bought a investment property – and you went to live there without the fact…[Read more]

Yes, $600 is well spent. You have the right attitude- make low offers and be prepared to walk away. There is always another property just around the corner.
I know that media is saying property is bad but I cant see where you can still get a bargain. I was about to put my property on the market but decided against it as I think there is upside…[Read more]

Well that is good for the property market but not good for investors… well in some senses.
I just dont get the way the press promotes these things.. they are all doom and gloom here and last night on the Tv first time they are saying it has turned around.
But try finding a bargain! Pft… no where to be found!!
Good luck- I hope you can find a…[Read more]

Good on you RyanJD. That bug is hard to shake once it gets to you.
I hope you buy well.
They are saying the property market has turned the corner here in Melbourne (which I suspected) so probably good time to pick up some good buys before too many people figure that out and get back into the market and push prices up.
Cheers

Well said “thecrest”. Yes setting boundaries is the right way to go- that sit within the law.
I don’t know if a lawyer would contact you- that is for the law and I am not a lawyer.
Holding property is a minefield and yes one you don’t want to get involved in.
Like it or not- it is the property managers job to do the work. For what you pay them- it…[Read more]

Well your tenant is technically right. If he is not notified- and you don’t have evidence he has been notified then he might get to stay.
It is a very costly exercise- cost of bailiff and changing locks.
I don’t understand why the tenant is acting this way either.
But it seems you are forced to do this as the tenant is not playing by the rules as…[Read more]

I guess you hear what you want to hear. You are welcome to not be a fan of OTP – that is your choice.
I hear that people purchase OTP and do very nicely.
You can always hear those horror stories if that is what you want to believe.
The Universe reflects what you put in….

Freedom Through- Kris- I am with you… seems a lot to pay for maintenance – even in the body corporate.
There is always another investment property around the corner.
Independent building inspector – Yep the way to go.

This sounds like a lot of repairs. At $171000 – do you want to be involved in all of this?
As I always say- this will not be the last investment property ever- there will always be another around the corner.
Try looking for something with less units in the block and that is perhaps newer.
You are kind of tied to the properties once you buy. And…[Read more]

In addition to what Andrew is saying – check the rental trend in the area- is there a decent population of tenants who will rent out your property. To be honest – with the trend toward staying single longer – there is greater need/desire in the market place.
When I was young and single – I lived in an apartment not too far from the city but not…[Read more]

Dwolf- I am with you.
AND as I support all types of investment strategies- it has to be one that is RIGHT FOR YOU.
I have seen people purchase OTP and re sell before settlement to make $30K, $40K or even $90K – not even settling.
In my area- not Sunshine but FURTHER from the city- urban fringe – there are more apartments being built.
In my time…[Read more]

Great. Good outcome- just be sure what’s left over covers 3 years of rates.
It is always good to get feedback from here – sometimes its not quite correct but most of the time it is. It is a free advice but you have to do your own to get definitive answers. But sometimes a “professional” person may miss something or may not take quite the same view…[Read more]

Catalyst is correct- go up market- they will think your house is great at a good price. If you go down market-they will think you are too expensive. AND you will get people used to paying less- they will find everything wrong with your house and maybe even cause issues themselves- speaking from experience as a LANDLORD. Remember I did say get as…[Read more]

Yes, those accounts which affect the title should be taken out at settlement- usually paid by you with the “adjustments”. The accounts not in your name will b e forwarded to the vendor. Probably a reason he is selling – because he cant afford it.
You should check though once the “adjustments” are taken out- that he has enough to settle- if not -…[Read more]

I dont think you are covered if you are not going through an agent though. Yes, its a great idea to have Landlord Insurance. I have known of at least 2 cases where the landlord had cause to make a claim. You will need to check the fine print but they ask are you renting via an agent..

There is a data base available to property managers but I am not sure it will be much help.
You need to do what a property manager does and check references – employment, past landlords.
After that you need to understand tenancy laws as apply to your state.

Well this post was a long time ago… QM- what did happen in the end?
Did you get to the bottom of what you needed to know about property inspections and finance clause?

More importantly – DID YOU BUY??!!
And how are you going?

Thanks! We started out just meeting over coffee and chatting about property but grew and grew.
For some reason, blokes wanted to come too?
HHmm… not sure if it is the property or….. the “women”….
All in all- its great to share with others in an informal way what we are each doing in our property investing journey.
Feel free to drop me a line…[Read more]