Hi to all,
My wife and I are new to the sharing of info game, we have been into property for some time but our successes are more luck that very educated decisions.
Can anyone help with a place to start sourcing info for Due Diligence – eg Median Prices / rents / vacancy rates.
Also, does anyone else utilise a line of credit with multiple accounts, if so, what do think of it.
Hi to all.[thumbsupanim]Start with buying a magazine called API – Australian Property Investor
In the back it has the information you are looking for.
Also the Land Valuers office in your state might have the land value data in Victoria they have 10 years of data..Hi 25 North,
I buy API magazine for the information that you are asking about and I think my wife might be getting me a subscription to it for my birthday because she knows how much I love reading it.[biggrin]
I also get Residex reports every once and a while to make sure I’m up on market research.
I have a line of credit loan which accesses equity in our own house. It has 1 main account and 2 sub accounts. I am just about to split off one more sub account. I use my sub accounts to fund deposits on properties and then I get a loan with another lender for the remainder.
The LOC lender will sometimes charge you a monthly fee for each sub account and this can get a bit expensive so make sure you check this out first. Apart from that our line of credit to be very useful and flexible. Now we don’t have to go through application processes and pay huge fees when we need to borrow a bit of money. The interest rates tend to be a bit higher on LOCs but I think they provide some good flexible options.
The great thing is that you can use the money for any worthwhile purpose so you could pull a bit out for shares or go on a holday if you wanted to. I allocate some funds to remain undrawn in case I have to support the rent on a vacant property or do an unexpected major repairs on an IP.
My new website has some tools that you may find useful let me know if you would like any other information on the site and I will try and oblige. The link is below
Regards
Crusher
http://www.freepropertyhelp.com.au
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