I think that what Paulusi is stating is that while she acknowledges the 2 properties will “probably” appreciate in long term, she feels that the money would be better off in cheaper properties that will make money (i.e. CF+ve) from day 1.

Am I right Paulusi ?

Have you read Steve’s latest book ? This looks like a classic example of not “meeting the market”. Have you considered identifying the reasons why the property is not selling ? And then coming up with an action plan to “remove” those reasons ?

I think Lucifer’s suggestion is a very sensible one for your situation. It sets you off at a nice slow pace. One where you can learn without exposing yourself to too much risk too fast. And you can always speed up the process (i.e. more risk but potentially higher returns) when you are more confident.

Steve does talk a bit regarding this topic in his latest book. Suffice to say I think it’ll help you along, jarmbie.

I agree with pr. I live in Melbourne too and there’s nothing but bad news coming from the inner city apartment news. But if you really want to, make sure there something unique or special, such as designed by a famous architect.

LOL g7 ! …

But seriously, LT64, you OWN your own home and earn 90k/yr which is much better off than most who are starting out like yourselves.

I wouldn’t worry at all about finance …

Yes, the property market is slowing quite drastically and you can see falling SALE prices everywhere. Ignore the listing prices as they tend to lag behind reality for a while.

The slowdown has impacted this forum somewhat and I do notice that the forums are a lot quieter these days. Hopefully the downturn won’t last for more than the 5 year…[Read more]

If you take a long term view, Melbourne’s Western suburbs will be where the most growth will take place (if it isn’t already).

First home starters are just about priced out from the East. For land that you are talking about for $100K, you’ll be looking at 1 – 1.5 hrs drive east of the city. Whereas in the West it’ll be half of that.

In short, I…[Read more]

For more details, here’s her official website …

http://www.laurabranigan.com/

Originally posted by SteveMcKnight:
Hi,

One of the soon to be released additional features of this site is a system whereby people who know of deals can advertise them within strict guidelines which includes giving an initial outline of the numbers.

This is will be a paid service (something nominal, say $20 per deal) for the person submitting…[Read more]

Talking about sheep, do you know which country has the most sheep in the world ?

For all you 80s fans out there …

In case you did not hear, Laura Branigan has passed away.
May her songs live in our hearts forever …

I recently did some research on the best card which suits me – top rewards system and always pay off everything on time. Found that Citibank was the best, closely followed by Westpac Altitude. I use Altitude which isn’t too far behind Citibank so I decided to stick with them.

I use Hocking Stuart and they are very good. PM me if you want to know specifics.

I’m in the IT industry but slowly moving into the Property Investing industry …

Hi Jo,

You are absolutely right on your point about the Sales and Rental being 2 separate entities.

However, the more up front agents – when asked about the expected rent – will give me what he thinks is the expected rent, but will add that he/she will go and confirm the figure with the Rental department and get back to me.

Whereas, the other…[Read more]

Well, its 7 pm now and I’m still in the office working.
And I’ll prob continue at home on my 2nd job.
So work about 12 hrs a day on average.

Originally posted by emcdonald:
However i think it’s a great idea for investors (perhaps not neccissarily for us REA) as a way of protecting your interests in the property transaction. I have had offers though which stipulate that the existing tennant must be renting the property on the settlement date.

I asked some of my other colleagues if they…[Read more]

I just came across a new Subject To condition in a post by Jetdollar.

It was for a owner occupied sale and he included a “Subject to Tenant @ $160pw”. I assume that means that the sale will only proceed if the agent can find a tenant at that rent.

This is something I have never heard of and quite creative in my opinion. Is it just me being…[Read more]

Have to say it doesn’t always work though.

I have > $500K worth of loans with 1 bank and I threatened to leave if they don’t match a competitor’s rate.

But they took me up on it and said there was no way they could match it.

So I guess the moral of the story is that you have to be able to carry out your threats or else they’ll just be empty ones.