Hi! I’m thinking of ways to cut down on spending to continue building my hard-earned savings (a bit more than 100k)which I want to use for investing. House Sitting sounds like a great idea (almost too good to be true.) I’ve contacted an Agency (I’m not naming names, but they claim to be the largest in OZ and advertise every Sat. in The Age.) They say they’ve got large number of people in their books wanting house sitters, but they give no guarantees. It’s not cheap to join, but it may be worth a go. I’d like to hear about stories of people who are house sitting or have done so in the past: How hard is it to get a house to sit? How long (on average) do people require a house sitter? Are they less likely to accept you if you are a single guy (though you have good references, etc.?) If I do jump in, I would like to sit a house close to the City or anywhere between Caulfied and Mentone, preferably close to the Frankston train line. I’ll appreciate any response, or suggestions. Thanks.
Ricardo Bonel
Hi Ricardo,
When I came back from overseas in 1997 I looked into The Australian Housesitters Society (I think that was the title, ?). I payed a fee of roughly $100 to go on their list. You can put your preference to house sit in Melbourne for example under 3 regions. I chose an area covering Toorak/St Kilda, Albert Park. I figured this demographic could afford to go o/s and require someone to look after their property. I didn’t have any luck. However a friend who I travelled with came home and also went on their books and got a house sit position for 6 months. In that time they were able to save up a deposit for a home. I think the organization sprang up from Sydney(?) I have no idea how they operate today, however I can vouch that my very good friend did manage to house sit. Requirements may mean you may have to walk a dog every day, clean a pool, etc. However for the sake of not paying rent it can work out quite well.
I hope this is of some help.
Kind regards,
Gatsby.Originally posted by Ricardo B.:Hi! I’m thinking of ways to cut down on spending to continue building my hard-earned savings (a bit more than 100k)which I want to use for investing.
Hi Ricardo,
Not able to comment on the ‘house sitting’ question but I noticed you have savings of $100K.
If you are wanting to invest then you should be able to borrow some additional funds and start investing sooner rather than later. It seems to me you are saving money that is left after the ATO has had their piece and as such with money from banks, tax and tenants you could be investing now – if that is consistent with your goals.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
Hi Ricardo,
I have house-sat twice but both times for friends. It was not through an agency but both times it was mutually beneficial so in terms of the experience it was well worthwhile.
I looked into ‘professional house-sitting’ some time ago with the following company:
http://www.housesitters.com.au/index.php
I did not sign up because my other half was not prepared to move so frequently and take on the responsibility of looking after someone else’s home. In some ways he is right – it is a big responsibility to look after a stranger’s home. You would want to be sure you had the same expectations about the whole arrangement.
This particular company has been featured in the media a bit. Decide for yourself if this improves their legitimacy.
All the best with it! Please keep us up to date with how you go.
Cheers,
Ali G
Dear Derek,
Thanks for your reply, in regards to my 100k for investment, it’s locked in and won’t be free for another 2 or 3 months. I’ve got an extra 15k that I could invest straight away, but there’s a couple of things holding me back: For starters, I think It would be a great idea to find a business parter that would complement my skills, which are not strong in the maths field – I’m more an enthusiatic “people” person who would get a rush from going out hunting for properties, establishing a network of Real Estate agents, negotiating deals, etc. My ideal partner would have strong accounting skills and be more cautious than I am. Ideally he would be builder-renovator with some experience, who wants to fast-track his investments. (I’m not asking for much, am I?) The other thing that is holding me back is that I want to clarify my strategy and set realistic goals (which will, of course have to match-up with my potential partner’s goals.) I’ve read “From 0 to 100…” and just finished reading Peter Spann’s “How to build a $10 million property portfolio in just 10 Years.” I found both books excellent and now I’m a bit undecided as to which way to go: Positive Cash Flow only, or buy do “make-ups” and sell. I must admit that the second option tempts me more.
Back to the point of house sitting: I think I will give that a try as it would also allow me to stay time-rich if I’m successfull in getting a house to sit.
Ricardo Bonel
Dear Gatsby,
Your reply confirms my suspicions that house sitters prefer couples to sit their houses, though I’m a bit confused because you mentioned that (a:) you didn’t get a result from joining with the Agent, though (b:) your very good friend did get a house sit for six months – and then you say “they” were able to save up a deposit…
Can you clarify?
Thanks for your reply! Looks like the only way to find out is to try it for myself.
Ricardo Bonel
Dear Ali G,
Thanks for your reply and the e-mail of the house-sitting agents! You say they have figured in the media, but how? Can you please expand on that a bit? Your words of caution have been heard and I would make sure that proper contracts are in place to stay out of potential trouble.
Regards,
Ricardo B.
Ricardo Bonel
Hi Ricardo,
they have documented all the positive press they have received (drummed up?) right here:
http://www.housesitters.com.au/press.php
Cheers,
Ali G
Hi Ricardo,
My friend was in a relationship so they may have suited the owner of the house they sat? I applied as myself (single at the time) and that may have gone against me(?), I don’t know? On a double income with no rent expenses my friend and her partner were able to save together a deposit just before the boom.
Hope this answers your question. Being single and my age at the time may have gone against me?
Cheers,
Gatsby!Hi Ricardo,
another update on this topic. A read an article about the company I detailed earlier on this board in the (Melbourne) Herald Sun this week. It was about a guy who was complaining that he paid his $300 odd dollars and did not house sit once. He was having a whinge about it and was saying it was all a big con. Perhaps this was a personal reflection on him? Or perhaps it is a good way to throw money down the drain? I still have no answers for you but this is just something else to consider!!
Cheers,
Ali G
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