Thanks for that Cafank! If anyone is going to discuss it please put *spoiler* in your topic . I want hear it all 1st hand!

We are with CBA for our IP's but HAVE NEVER CLAIMED. I'm sure I'll be on here eventually bagging or loving them. The policy seems to be cheap (not freakishly so) but covers all the main stuff. We are also with CBA for contents and cars. It'd be really great if someone could advise as to insurance brokers. Has anyone had a good run, saved money…[Read more]

Ah Forest Hill. Well at least I was in the same state

Hey I would be very cautious about doing this as this is a very murky area. If the agent can prove that he introduced you as the buyer than he is within his rights to try and recover his fee from the vendor. One of the latest property mags actually had this as an part of an article. Sorry I can't actually remember which one. Go hard on negotiating…[Read more]

Yeah this is true WJ Hooker but with adding value DB could could still have some deductions on top of whatever exists. Get a good quantity surveyor to come through on either when u have settled.Yeah agent = vendor best interests, not yours. I'd string the agent for a bit see what other tricks he pulls out to know whether he is serious or just…[Read more]

Can you add value to the older 1 (cosmetic reno)? Sorry I don't love a main rd and maybe majority will like a beach view especially in Wollongong. Have you called around, etc checked to see if you definitely can rent for this amount? If there are going to be a lot more units built will the newer one you are looking at be swallowed up in a big pool…[Read more]

Hi,Alright I'll have a crack with my 2 cents. First I'll have a stab with the suburb, Box Hill South or Burwood. Hey I might be way off… Secondly I like your figure of $4500 a month. Over $1k a week is interesting. How are UNDER 18 yr olds paying out this much? Are we talking overseas students? Or is this a combined household income?Then I would…[Read more]

Thanks FL PM. Great info! Will check it out!D

I wouldn't worry about moving and owning IP. As long as you have a great property manager it is fine. We have our very first property in another state which we bought while we were living there. We knew we would have to move in around two years so bought something that we could live in and that was easily rent-able. If you have a look at the…[Read more]

Hi Sonya,Didn't see mine until the week before closing. At lease with building and pest they can give you a written report and give u some rough guesstimates on costs for repairs. There's nothing that I would be able to tell apart from yes it has a roof. If it counts I looked on Google earth. If all the $$ stack up I am buying.Cheers Let us know…[Read more]

Yeah I don't mean waiting 20 years to buy the dream house either. I like the idea of buying a mid price house in a older area for reno but for a first time might be worth getting something cheaper with good chance of growth and/or C+. If they are not confidant with reno-ing budget might get out of hand etc, and yes house and land packs in new…[Read more]

Hi SonyaNice work! It is really great to hear that people are buying great properties still. Do you mind if I ask where? I like to stick to the state I'm living in at the time so It's unlikely I'll be up there Just an approx zone out of curiosity. Well at least I know that you can get a good price at auction still, depending on where you…[Read more]

HiVery happy now! Getting $180 out of $128k purchase price. Depends where you are looking. And bargain hard. The property I got was on the market for a year (needs a bit of work of course, but that's ok I can add value)  Asking price $134k bit of to and fro-ing got it for 128K. Plus it came with a free tenant () But each person is different and…[Read more]

Hi,We have always been given a copy of the lease at the very start. The managers may have trouble handing over the property vacant, I know I wouldn't move house purely if the property management was changing hands. Have you thought about going the other way and sending the tenants a letter informing them of their right to stay in the property and…[Read more]

Hi,I would go with the "cheepies". The problem with getting the big house with the big mortgage first off is that you can't get anything else. That's fine for most people. They want the barbie dream house with a nice kitchen etc and never want to be rich or have any other properties.  (Sorry to all my friends)Where I live the median house price…[Read more]

Hi,Yeah it's my first one too! I've read so many property books my head feels like it's going to explode. It'll be good to hear some of it from Steve himself. Seeya there

Hi,Margaret Lomas seems to be the "expert" on cash-flow positive and has a lot of books out if you want to read further. It's all about the deductions.DWolfe

Hi all, great to see other people buying somewhere other than " within 15kms of Melbourne". Have just bought a property in Colac (1 hr from Geelong) that was dirt cheap, can value add and is paying for itself. After finding this little gem I wouldn't hesitate to go regional as long as the population growth is happening and there are facilities,…[Read more]

Hmm, expensive? Better do some more shopping I think!

Yeah I agree with the link idea. Sounds like a good plan. I can see one drawback which is one bedroom acc may increase by smaller amounts yearly. For instance if the current market is $170 next year the going rate may only be $185. Whereas if you rented out the whole house (sorry daughter) for $320, next year the rent maybe $375. It really depends…[Read more]