Do not manage it yourself.  If you end up with a tenant that requires eviction, you do not wish for them to associate your face with a bad event in their lives.  Best to keep your distance.  Let a property management company be the front line.

Stuart Zadel's "Think and Grow Rich in Property"

Not sure if this is a conflict of interest thing – but are you not the real estate agent that has posted on other threads including these: ?https://www.propertyinvesting.com/forums/property-investing/help-needed/4330247?highlight=psaila#comment-200605https://www.propertyinvesting.com/forums/property-investing/help-needed/4329838?highlight=psaila

Wow.  Scary story – the evilness of some people is astounding!Thanks for adding Terry

A bank account would not have a chance at producing the result that many suburbs are producing…

It's a must-have.  God help you if a tenant trashes your house and you don't have suitable insurance.

True, though the same rule applies really

OK picture the scenario.  You put a tenant in your property and they stop paying rent, or damage your property. You have a bond (deposit).  Yay.  That'll be what, $1000?  That does not go far.  Landlord insurance with the "added extra" of tenant protection pays for lost rent while the tenant is not paying, or while the property is vacant due to n…[Read more]

If you can afford to do so, absolutely.  Check Wyndham Council for the current regulations for Werribee and Hoppers.  Last I heard it was minimum 300m2 per dwelling.And remember – cover your IPs with landlord insurance WITH tenant protection

If you have a crystal ball, we'd love to know the answer to that too!A quote you will read in many books is that it is time in the market that matters, not timing.  In other words, buy as soon as you possibly can, and hang on to your properties.

Nice work getting something in Sunshine before it got expensive!Yes I think you can purchase another property.  For the deposit you will probably have to use equity in your current property, because all of your $20k savings will be eaten up by stamp duty and solicitors fees.Suitable areas to look at would include Werribee, Hoppers Crossing and B…[Read more]

Hi PeterWhere is your current property located?  The new property is one to live in or to rent out?What you can buy will of course depend on how much equity you have in your current property (ie its current market value minus the debt on it), and how much you have in cold hard cash to put towards the second property.  It will also depend on your i…[Read more]

Re what Richard is telling you – using equity is not a free deposit.  Think of it as a second loan which will attract interest and have to be repaid.http://wiki.answers.com/Q/How_do_you_repay_borrowed_home_equity

If they are free, go along!  You might well learn something useful.

Never sell.  You'd just have to replunge the money into another property in order to stay on the ladder anyway, and you'd have to pay stamp duty all over again for the privelege.  Why would you do that?IMO:Keep it and rent it.  At the same time, get it revalued by the bank and refinance it if necessary.  This will all help produce equity to buy…[Read more]

Well ultimately, it's about what brings you the most return.  Two smaller blocks tend to produce a better sale price than one large one.  However, you'd need to look at sale prices of such blocks in your area and the costs of subdivision (council can guide you) and decide from there.  In addition to this, you need to understand the demand in th…[Read more]

By the way, another thing you can do to save tax is make extra contributions to your super.  You are allowed to make "extra" contributions of up to $25k per year and they are taxed at 15%.  If this is a lower % than what you area paying in income tax, then it's a worthwhile option.

Hi CoastaThe terms of interest to you will be as follows:"Negative gearing" .  Think of it like this: an investment property earns income (ie the rent).  But it has costs (loan interest, insurance, council rates etc).  If, overall, the investment property makes a loss, some of the losses can be recouped on your tax return by means of clawing ba…[Read more]

You might have some equity in the first IP that you can use for the deposit…Naturally, check you really want  and need the boat and car, and can afford it.  They are purchased with after tax dollars, after all (and do not generate income). I wonder how many IPs you could buy instead of a boat and a car

You will definitely need body corporate approval to change the appearance or structure of the exterior.  This would include, for instance, if you wanted to paint the exterior, add a feature to it, or install an airconditioning unit that meant a cable or box would be visible on the exterior of the building.You should not require their permission…[Read more]