No, I'm still in Sydney

Thanks for the insight Wolfey!  Yeah you are very right about the numbers.  It's a bit of a mental exercise blocking out the noise of the "no no must invest in pricey city fringe trendy suburbs"

Not sure you'll find a bank to loan you the whole 100%.  Perhaps your parents might loan you the deposit?I'd be wary of investing in hotel complexes.  Do a search on this forum for "serviced apartment" to see the discussion threads on the matter.  The rental return appears good, but the capital growth isn't there…

A property in Doveton would have to come close to paying for itself at least… it's got good rental return, capital growth and vacancy rates stats.Either way, keen to hear some stories from people who have invested in dodgy areas…?

Cool.  Hopefully a few forum-ites have stories to tell!

It tends to be the case that property goes up in value, relative to its current value.  Let's say a 2br place in Footscray is currently worth say, $450k, and a similar property in Richmond is say, $600k.  In a year they'd be say, $495k and $660k respectively.  Why on earth would you expect that Footscray would become equal in price to Ric…[Read more]

no they are terrible.  search the forum for "serviced apartment" to see the discussion on the topic

Can you split the title and sell as two apartments?

Insurance:  AAMI Landlord insurance WITH tenant protection (which is extra)

The more "prestigious" areas are Geelong West and Newtown.  The Corio area is more working class (and receives a better rental return for cash outlaid, I might add).  Growth areas are to be beyond Grovedale.

Pay a professional valuer to put a value on it pronto.  It'll only cost about $400

Hi thereYour accountant doesn't necessarily have to be located in that area.  Here is one to try: Mario RacitiBamfield & Co4/123 Clarence StSydney tel (02) 9262 1222Good luck!

Hi there   One idea would be to buy a property, but not live in it (ie put tenants in it).  You could then rent elsewhere.  The reason is that you would then enjoy some benefits which you would not enjoy if you lived in a place that you own.Work out the income (ie rental return) on the property.  Then subtract the costs (some examples listed bel…[Read more]

Strange.  I definitely didn't hold my tenant's stuff for 60 days.  Perhaps Consumer Affairs considered it was stuff not worth storing hehehe.  Under what circumstances did your tenants depart?  Perhaps yours left a little earlier than mine did.  It took the full length of time and VCAT hearings to get rid of mine.  Eventually the locks were chang…[Read more]

I am in Victoria also. Might be worth asking them when you start counting the 60 days from.  From the date of forced eviction, or date up until the rent was actually paid for?…

Maree – why'd you have to keep their stuff for 60 days?  Consumer Affairs turned up at my property and immediately said we could take the whole lot to the tip if we wanted to.

I use AAMI for landlord insurance (WITH tenant protection – it's an added extra, i believe)

Sorry to hear about your misfortune mate I've had experience with this sort of thing and can say the following:It is necessary to have buffer money in the bank to be able to cope with costs and mortgage for about 6 months in case something like this happens.  That way if insurance is slow to pay out, you're still ok.I have Landlord Insurance with…[Read more]

https://www.propertyinvesting.com/forums/property-investing/help-needed/4330324

Hi tedstar1This has been discussed many times over.  Do a search under serviced apartments.  In summary, it has been concluded they are not good investments, because they have insufficient capital growth.