[Dani67Member@dani67Join Date: 2003Post Count: 13]

July 14, 2004 - 12:34 pm

hi! One of my tenants agreed to rent because our property had security screens and deadlocks to external doors. Hint- good fly screens on windows and draught stoppers fixed to the backs of doors. Also, look out for reasonably priced coated curtains to keep out light/heat and keep in warmth.

Dani

[Dani67Member@dani67Join Date: 2003Post Count: 13]

June 26, 2004 - 3:46 am

TIP -when you build a list of reliable electricians, plumbers, painters, et., pass on to you PM and instruct to use them should the need arise, rather than rely on PM.s… who you may not know if they are ripping you off or not!

Dani

[Dani67Member@dani67Join Date: 2003Post Count: 13]

April 6, 2004 - 12:07 pm

Negative gearing is,perhaps, all they know! I was the same until I read Steve’s book and found a better way of doing things. Many seminars tout the negative gearing line…so that is all people come away with!
Dani

[Dani67Member@dani67Join Date: 2003Post Count: 13]

April 6, 2004 - 9:58 am

We have it written in our contracts that smoking is to be done outside.
Dani

[Dani67Member@dani67Join Date: 2003Post Count: 13]

April 6, 2004 - 8:44 am

Absolutely! i’m hanging for more words of wisdom…pressure is on!
Dani

[Dani67Member@dani67Join Date: 2003Post Count: 13]

April 4, 2004 - 12:01 pm

Hi! I use a property manager, even though one of our properties is rented to parents of friends. I don’t want the hassle if it came to a tribunal meeting. I’m no good at playing the bad cop, and let the manger deal with problems impartially. Besides, they know all the tricks. However, a problem I have is I have 2 PMs as properties are in different areas, and both won’t delve outside their region.

Dani

[Dani67Member@dani67Join Date: 2003Post Count: 13]

April 3, 2004 - 5:15 am

I was the same! It took me a year to convince hubby we would be doing the right thing..can no longer rely on pension, want to be rich, etc. The first purchase was the most difficult..long hours house hunting, but once we made the jump, we were hooked. Perhaps you need support and positive encouragement, find this where you can. Or perhaps you just need to GET EXCITED about property. After all.. if the worst was to happen, you can always sell! JUST DO IT!
Dani

[Dani67Member@dani67Join Date: 2003Post Count: 13]

April 3, 2004 - 5:00 am

Thanks for your advice, PK.

Dani

[Dani67Member@dani67Join Date: 2003Post Count: 13]

March 7, 2004 - 11:50 am

..or you spend 20 mins on an open house only to be told at the end it has already sold the week before…but the vendors don’t expect the finance to go through (home start), “so please feel free to spend 2 hours writing up your offer”, only to find later that the first contract has gone through after all…!

[Dani67Member@dani67Join Date: 2003Post Count: 13]

October 29, 2003 - 1:06 pm

[Hi Westan. Am a new investor, and have just bought 2nd property in Elizabeth area. Have been disappointed with the property managers I have interviewed..they seem to take advantage of high turnover of tennants to rip off clients with high re-let fees. Some seem unprofessional.We have a fantastic P.M. with our 1st one,able to negotiate, but doesn’t deal with Elizabeth area. Would appreciate a line with your experiences!! Ta [email protected]]
bjajcr

i don’t live in SA either. but i know that the elizabeth area has a lot of dab tenant problems. as i said i just sold a pair and have two single in elizabeth. since i purchased the properties one tanant has been in the house for 6 years but the other three have regular changes. i have landlord insurance to cover tenant damage, loss of rent etc. so far i would have made a lot more claims than the insurance costs. i asked a very competant rental manager years ago what percentage of tenants would be problem tenants her comment was 50%. so be prepared to have some problems. But on the other hand i’ve made a profit each and every year on these properties and a very handy $210,000 capital gain, which is a lot of cash for me. these properties have been refinanced over the years so i could purchase more cash positive properties. i don’t think these properties would be cash positive at current rentals. anyway i am happy to be selling out of this area. Having said that there is still increadible buyer interest in these suburbs. if you buy contact me direct on 0415438666 so i can tell you who not to use and who i would recommend as property manager. In answer to your question there is a lot of negative (snobbery) attitude to this area from others in Adelaide as you have discovered, but you are looking at an investment not whether you would raise a family in the area. But i don’t feel unsafe when in the area anyway.
regards westan
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[Dani67Member@dani67Join Date: 2003Post Count: 13]

September 22, 2003 - 1:33 am

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quote:

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I have bought $870K of property in less than 6 months, First one settled 22 May third one should settle 23 Oct. I had about $140K equity to start with. The first one jumped 60K in value in 5 months. The second one 20K. So now im getting the third.

I just need one more positive cash flow one worth under $200K to balance my 3 negative ones and I will controll over 1 million in under 12 months, excluding my PPOR and allowing for capital growth.

I had a lucky run though.
cheers.

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