[alexanderParticipant@alexanderJoin Date: 2003Post Count: 5]

May 12, 2004 - 7:00 am

Newby too

We bought 1st IP for 110000 in 2003, spent 10 000 on it. Rents for $130 per week. No property manager though as family so in good hands. Recently valued at $146 000.
2nd IP also in 2003. Paid 119 000 for two bedroom unit which rents at 140 per week. It is in a complex of ten and strata fees are around $ 800 per year without huge potential for capital growth, probably wouldn’t have bought this one knowing what we know now.

Currently looking at changing loans to interest only as having them both p and i is okay for now but stops us buying any more for a long time. Ah, the benefits of education!!

[alexanderParticipant@alexanderJoin Date: 2003Post Count: 5]

November 15, 2003 - 6:02 am

Hi

While it’s great to find cheap houses (much more chance of positive gearing) are prople taking into account the condition of these houses? Are they going to need major repairs in the next year and erode any profits? Will tenants choose to live in them? We have an old fibro place in a snazzy part of town that people will probably always rent because of it’s location. Still, we spent $10 000 upgrading it to attract a better, more long term kind of tenant. Any thoughts?
Alex

[alexanderParticipant@alexanderJoin Date: 2003Post Count: 5]

November 10, 2003 - 3:20 am

Hi all[]

Thanks for the encouraging message Jules. We now have two ip’s that are “not quite” positively geared but I have learnt heaps along the way. They are both in a good area for growth so here’s hoping it happens faster than my somewhat gloomy number predictions tell me. Armed with this knowlege I too am finding positively geared property looking difficult. I look forward to interest rate rises to see if any bargains emerge!

Alex

[alexanderParticipant@alexanderJoin Date: 2003Post Count: 5]

November 8, 2003 - 1:58 pm

hi[]

Sure, pick your landlords insurance policy well but….. we got caught by not checking up on the property manager. Our first ip in case you hadn’t guessed! The property came with tenants, the property managers weren’t very diligent and didn’t ” get around” to doing a new lease between us and the tenants for the first month whereupon the tenants left in the night owing a months rent. Ah, that’s what landlord’s insurance is for right? Not if you don’t have a signed lease with your tenant, it becomes null and void. So look over your property managers shoulder and make sure all the necessary paperwork is done. Have fun.
Alex

[alexanderParticipant@alexanderJoin Date: 2003Post Count: 5]

August 10, 2003 - 2:43 pm

HI

We have one that is a buy and hold, currently rented. It was our first and costs us $50 per week. Learnt a lot along the way and hope to do it better next time round. When people say regional, how small/rural can you go? In looking for positively geared deals my regional town is proving pretty difficult but if I go to little places 10-15 km out of town this is achievable. I’m pretty confident they will still rent there. Any thoughts on this? JG[]