Thanks Terryw, I’ve emailed your response to my accountant to see what she thinks. [exhappy]

Hi,
I can understand your dilemma. I’ve just sold a negatively geared property and am keen to get back into the market, positively geared or at least heading towards that area. Same as you, I’d like to buy and hold for 5-10 years and have $300,000+ to spend. I’ve done quite a bit of research and am coming to the conclusion that Qld looks good.…[Read more]

Some questions for you, Jess. My husband and I are about to start serious searching for our first reno. after selling our first IP. We’re thinking of new kitchen, new bathroom, painting and landscaping. Is this the sort of scale you’re doing? Are you finding it profitable? (say, profit marging 20% as suggested by Slum Lord on forum). I feel a…[Read more]

Thanks for your thoughts. Slum Lord, do you mean a margin of 20% of selling i.e. if the house is $245,000, then after renovating should sell for 294,000? sorry if I sound confused. The house is about 5 km west of Wollongong.

A great place to hear a lot of opinions about a place is the local watering hole! Go into a well populated pub and strike up a conversation at the bar and before you know it everyone wants to tell you where the best spots are.

Thanks for your input. It helps put things in perspective when you’re a worrier! Another question I have – I’m preparing to buy into regional nsw and Qld. Many of these homes that are +ve are oldish and therefore raises the question maintenance. Any of you guys out there with big portfolios, do you find you have hefty maintenance bills?

I guess it’s all cyclical. When the share market bounces back big time, investors will surge towards that. We just need the world to settle down a bit in terms of global stability.

Thanks for such a detailed response…I really appreciate it and will take on board everthing you say.

I feel the more I read, browse, and research on IP’s the more I need to know. But then again, it’s all so interesting so it never feels like a chore.[]

If you buy Margaret Lomas book – How to Create an Income for Life – it tells you how to download a tool for calculating whether a property is postiive cash flow.

Hope this helps.

Thanks everyone for your input. I shall research on! and thanks AD.

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are you making much of a profit? My husband seems dubious that I can pull this off.

Thanks[]