Haha…  thanks for the encouragement DWolfe

This is my first time doing this, and its a good learning experience for me.

My neighbour came in to help me setup some bedroom furniture today and she was quite impressed, and thought charging $135 per week and including all utility bills, internet, appliances, utensils and furniture seemed a bit…[Read more]

Lounge Room:

Couches were bought from colleague's garage sale, but I'm still undecided about whether to replace them with black leather couch, or whether reupholstering them might a more cost effective solution or to just leave alone

Thanks for the reply DWolfe

I dropped by the council today on my way from Target and I was told that I did not need council permission unless the room had more than 4 people (not sure if I heard this correctly or whether they meant house) but either this shouldn't be an issue since there will only be 3 people living at the property – maybe I…[Read more]

Thanks for sharing the website JacM

Will come in quite handy when it comes to filtering through potential tenants to sublease rooms to 

I think 'Analysis Paralysis' all comes down to 'Fear of Failure'.

Here is an article with useful ideas related to this topic

You could also consider enrolling in the the RESULTS program with your own personal mentor

Looks like Terry is in the lead now, and its going to stay that way

I was under the impression that once a valuation has been done it is very difficult to dispute it, and you would need to wait at least 6 months before you can revalue your property again

You're welcome

Welcome Jason, Glad to have you onboard

Not going to bother telling us a bit about yourself?

The last 2 weeks has been quite an interesting experience for me.

What I have learnt is that agreements should be made on paper, rather than made verbally, so that there is no misunderstanding from either side, and there is something to refer back to in an event of a dispute.

Haha…

That's a lot of money, and if I won that much I probably wouldn't want the world to know about it…

Not that I would, since I've never spent a dime on lottery tickets

With all Terry's credentials I wonder how much he charges

Depends on what your criteria are

Based on the information provided on the above property, the maximum I would pay is $88,000

Interest rates are quite low in comparison to what they have been historically, and the Reserve Bank of Australia still has a lot of room to slash interest rates depending on how things unfold economically.

As Jamie and Shahin mentioned, whether you should fix interest rates or not will depend on your property strategy,  personal circumstances…[Read more]

Problem with 1 bedroom unit/apartments in Melbourne is 2 folds

Demand is limited to a smaller market such as investors, students, young professionals etc

Supply is expected to outstrip demand according to BIS Shrapnel’s Inner Melbourne Apartments 2012 to 2019 report

Personally I would not buy an inner 1 bedroom apartment in Melbourne for…[Read more]

Price = Annual rent / Yield

For capital gains in commercial properties you would need to find a way to increase income and/or find a better use for the property

Did you have any 'subject to finance' clauses in the contract?

Why did you move around so much?

Isn't it very time consuming and costly to move homes so many times?

Maybe start with your end goal and then work backwards

E.g. if you want $50,000 in passive income, and can 8% yielding assets, you would need $625,000 by the date you want to retire whether that be 10, 20, 30, 40 years from now

You can then determine what strategy would suit you best based on your circumstances and preferences

Sounds very risky for the returns quoted