I think there are still some basic strategies that work in today’s market. Buy an unrenovated property that already has positive cash flow then renovate to increase cash flow and add in some capital growth is one that might be a good starting point.

I don’t know that I’d say a strategy that works now will work for the next 10 or even 5…[Read more]

We stage heaps of new units and work all over Melbourne. I’ll send you a PM with some details.

Thanks Jacqui!

Cheers – Dianna

Steve Keen – Wrong. Analysts – Wrong. Kochie – Always Wrong. A bunch of scaremongers from USA – Wrong.

GOM – Right. Everyone who still bought property in the last 3 years – Probably right.

The two issues we may now have in Oz is the banking system, and demographics.

The banks wish to see the…[Read more]

Cotton On owns themselves, Cotton On Body, Cotton On Kids and Typo, Factorie and now Supre.

Typo especially I think is one to watch for market growth as it offers a unique product.

Personally as a Holden girl I’m sad, but I don’t think it’s the end of the world for either the…[Read more]

No pressies for tenants (even tho they are lovely) pressies for all my PMs tho, they work hard for me!!

D

Yes, please lots of sequels, – and am I seriously the only person who has not watched Game of Thrones?

Cheers

D

We'll be there say hi if you see us, normally front seat fairies at the market update

Who else is going off the forum?

Cheers

D

I recently met the team at Pillar and Post (Christianb and Breece are members of this forum) and the are great at holding a beginners hand through the process of due diligence and working out what will fit on a block.

The problem is, you haven't told us what…[Read more]

Being both a tenant and a landlord, I've never changed the locks as landlord and never had a landlord/PM change the locks for me.

The exception to this of course is when I'm renovating. I'll change the front door lock, generally coz I'm changing out the whole door anyway. I have had ex-tenants visit during renovations and it's a nice…[Read more]

Plenty of lovely ladies on the forum are on the investment track with kids in tow (some of the guys too ).

You'll need to think about risk. How much are you prepared to play with, and what happens if that goes pear shaped? Are you happy with just cash flow positive properties or do you see yourself carving out a new niche and…[Read more]

Swing by your friendly real estate agents office and grab a copy of the little red book given to tenants when they first sign up the lease.

Are you the tenant or the landlord?

It is my understanding (please make your own enquiries also) that the landlord does need to give the tenant 60 days notice.

Here is a link -…[Read more]

Cheers

D

How long will govt bureaucracy take? Maybe check out the planning maps on land.vic.gov.au on any blocks you are looking at. I checked one of mine yesterday and it was updated on the 27th June with no changes, so I'm guessing not everything will change, or maybe just in name only…

The best thing to do if you already own land or are…[Read more]

So 4 bedrooms, do you think the house can accommodate 6-8 strangers comfortably?

I'm not a huge fan of boarding houses it seems like one huge headache for no much more return.

You'd really want to crunch the numbers on this to make sure that going through all the fire rating/council hooey/ insurance issues/ etc is worth that extra…[Read more]

Yep get the contracts reviewed by a solicitor (preferably in the same state, so they know the ins and outs). You should be able to add clauses, get your solicitor to write some for you so they are nice and legal, it is then up to the vendor whether they accept the contract with those clauses.

Check through the inclusions list very…[Read more]

You could also talk to the guys at Pillar and Post (formerly brutal art). They are in Melbourne and have been great contributors to this site for a long time. If I remember rightly Ash from Stacey surveying can also hand hold (or recommend someone) to take care of the process of gaining an approval.

Keep us posted

Cheers

D

I sent you a PM

Thanks Jacqui – I've been renovating for clients now so haven't had time to jump on here for ages!!!

See how you go with the property manager, you might find thy don't need or have time for the obligation of being your project manager. You might be able to talk one of your tradies into overseeing the renovation for you…[Read more]

It's not just agents, had a waitress give me a lecture for 10 mins on why it wasn't her fault she gave my meal to another person and refuse to give…[Read more]

Wonderful news. Enjoy her being tiny they really do grow so quick. You never believe anyone who tells you this when you have had 4 hrs sleep!!

Cheers

D

The guys are right, you could build lots of things, depending on what suburb, zoning, overlays etc.

Can you give us a hint on the suburb? And I'd definitely say give Pillar and Post a ring and have a chat. The other even you can go to in June is Rookie Developers D-Day, Troy Harris runs a day course on developing and crams as much…[Read more]

Maybe you'll get Officer Friendly moving in?

D

Now that you have decided that this guy isnt the right guy for you have you approached him to say that you do not want to go ahead with the subdivision, and that you would like to get your money back (maybe less whatever he has spent on skips and 2 random guys)? There are people out there who can renovate your property, but if this guy…[Read more]

So now my suggestion is to go into damage control.

Probably you should have gotten something in writing on the scope of the work he was going to do, the time period and how much it would cost. But now it's probably a bit late.

If he's not showing up and you have paid him 10k, I don't like that. I also don't like the fact that he was on a…[Read more]

The latest figures on population are growth for Vic by 95000 people over the next year. (No sorry too busy to quote where from, use Google friends) and 350-400k population growth for OZ. Vic has the largest amount out of all the states. Might be a turn around coming?

Supposedly Vic has also been in recession already for 9 mths…[Read more]

We're all mates here, The Goose, Johnny, Jimmy etc…..

Tell us your problems………..

D

Terry and Freckle, I'd go with the partial drop too. Good call Johann as well to keep an eye on the market.

Jacqui is right in the points that legally you don't have to do anything, but happy tenants pay bills on time.

The other suggestion I would add is how is the market going for sales in your area? Are there more rentals because more…[Read more]

KRUDD thinks he's a hero double talking everyone, thank goodness we got rid of Crean, and Julia, keeps on keeping on.

Dear Governor General,

Are you able to fast forward to election?

Cheers

D

Apologies if you knew the people involved and the these comments offended you. They were made when the story first broke.

I haven't been able to find any news article about a suicide, I think as an adult if you do choose to commit suicide over something like this there are more issues than just a couple of mull plants.

D

Don't forget this is tonight, I'm sure they still have a couple of spots!

I'm actually surprised that they are doing this special event as the last APN meeting was going to be the last ever!

D

Dennis – which posts have been abusive? Please report any abuse to the Moderator, it will be deleted.

The comment "Sure I realise most of the people on forums are renters" may or may not be correct, do not let emotion cloud your judgment of seasoned property investors advice.

That's cool that at 17% increase is small to you. If your…[Read more]

Were the landlords being charged for a gardener too?

D

If you haven't got cash savings you can use super to invest in buy and holds.

You could also talk to people who may be able to invest with you, this isn't always a great strategy, but if you are really stuck, might be a way to get a foot on the ladder. You need to set a bunch of boundaries, and be…[Read more]

You can then decide –  hey $40 is a small price to pay, or wow I wouldn't pay the extra $40 to live here!

If you really want to dig deeper, head to a couple of rental properties that are open and see what competition you have.

Do the maths,…[Read more]

And yes I totally agree that PM's being paid by us, need to always be working for us. And as investors we need to be super vigilant, and make sure they are.

Good that rent is going up in your area too!

Cheers

D

Went to the shops today and these two guys were handing out Labor fliers and wearing Labor shirts. They looked very dejected, I don't think they were having much luck.

D

Oh and your snide comment on forum members pm's is not appreciated. We're all friends here.

It is a business, and like anyone running a business sometimes you need to take advice from one of your team. I have had property managers explain during slow rental times not to put the rent up, and after checking some of the other…[Read more]

The selling agent needs to really get in good with the tenants before you do anything. You can help by offering an decrease in rent over the selling period to help ease the annoyance factor. You'll want the tenant to be agreeable to opens when they need to…[Read more]

D

Have to say you may have just had an attack of  "Bull in a China Shop" !

Recently becoming interested in property does not mean that you can break laws trying to remedy situations that you may thing are wrong.

The first step to do is get a market appraisal of rent from a couple of real estate agents. This means getting a…[Read more]

Buy low….. sell high same goes for land.

D

All your stats seem to come from that source….Just checkin is all.

Just over 1000 people in a survey, not many to make a real judgment. But if you listen to the media, they have all started the 'property boom' talk. I've seen and heard more 'property prices are rising' blah in the mainstream media this…[Read more]

From memory there is a massive thread on Tax Liens, just do a search (up the top of the page) and type in Tax Liens. I'm not sure if Propertyinvesting.com are still selling the Tax Lien pack….

A couple of years ago Tommy Senatore did a two day course which my other half went to and said was quite good.

Hopefully some of the other…[Read more]

I'm having to go through all our properties insurance this coming week as the premiums in the last couple months have absolutely gone through the roof. Love to hear some suggestions of cheap but decent insurers. 

Ta

D

Shell, it's really my pleasure to chat to people such as yourself, you really take the knowledge you get and run with it! So many others would get advice and never do anything with it.

It's great to see you traveling on your property adventure. I'm sure you'll begin to tackle things outside your…[Read more]

Thanks Freckle, cut and paste fail!

Cheers

D

I got told a story yesterday, about where the same product can be obtained cheaper after passing through several 3rd party distributors, than by coming through the main supplier channel. I think Australian retail has a few extra problems that need work over and above the internet shopping deal.

Once a few retail business work out some…[Read more]

And I'll say it again – rules, more rules, more and more rules, more bureaucracy noooooooooo!

Imagine being worried everytime you drive in your driveway – it's supposed to be the other way around!

D

It's one of those jobs that's going to depend on if you do it, or a builder and how much floor you have to re-do. It's not the worst job, and depending on the amount of floor it may not cost the earth, but check it out properly.

As Kate said above, if it's stumps, just start jogging quietly in the other direction.

If it's up…[Read more]

Iv'e seen a few courtyards where they have decked the entire courtyard from fence to fence. Great if you have uneven levels or not much useable space.

If its a rental, treated pine with a good stain looks good, or if selling go a hardwood for looks. Depends on what your doing with the property and the target market.

Cheers

D