Hi BRC,

it sounds like your sister lives in SOUTH Frankston? If so, it is very very nice there, and great value compared to next door MT. Eliza where all the wankers want to buy. The longer the friends and others keep on thinking pity about ‘Frangers’ the better for us as there will be less competition for the good properties.

You are right…[Read more]

There has been discussion already regarding Point Cook on this forum. Do your research thoroughly on the area as there is a lot of development there right now, and it may be difficult to establish the real value of properties due to the many new housing estates popping up. It may also be hard to get a tenant if there are hordes of investors (which…[Read more]

Originally posted by mcollins:
I know a place for sale today with a 3 year lease in place rented for $350/week and cost is $149K. Interetsed email fee and I will take a spotters fee of $1,000. mcoll17@bigpond.net.au

Nice rent return – why are they selling??

Some further info please;
1. where is it
2. what is the town population
3. what is the…[Read more]

If you are a trader, or flipper, this is important.
If you are cashflow investor (which is me) it matters not. I don’t really care what the market does. Although, you should try to get some good old cap growth with the cashflow if you can. My goal is to maximise both.

My 2c worth; I don’t think the market ever really crashed – some sectors that…[Read more]

I didn’t think it was hardball myself – maybe I’m too hard on the agents? (I’d doubt it).
I thought this was just standard procedure! Oh well – it’s their chosen profession.

Cheers,
Marc.
erardent@hotmail.com

“we get sent lemons; it’s up to us to make lemonade”

Shirley,
this is an Australian forum. most people will not be familiar with ‘points’ , and probably not FRM’s and ARM’s .
The other thing we Aussies don’t have in our system is the CREDIT SCORE like you guys have, which, without is very hard (read impossible) to get finance in the USA.
I should know – I have an absolutely flawless credit rating in…[Read more]

First of all; why sell to realise the profit and lose a whack of it in cgt? I don’t think you need to do this unless you need the cash to live. Why not keep it and maybe re-invest some of the equity? You choice of course.

Sorry to say this but it sounds like you are a victim of ‘conditioning’.
The agents tell you a lovely high sale figure to get…[Read more]

By the sounds of the posts on this topic, the U.S.A market on the whole is a lot like Aus right now –
1. Good cap growth areas will have crap rent returns.
2. High rent return properties will be fraught with tenancy problems (and management) and little cap growth opportunity.
3. You can make money through reno’s and then on-selling if you can get…[Read more]

welcome to this forum, and welcome to the games associated with buying property.

The agent said “if the competition grows it may go to $300k” – with this one statement he got you to offer another $5k. Don’t offer any more based on the agent’s talk. Wait until you hear from the Vendor before making any counter-offers. I hope you learn from that…[Read more]

“Frankly I think that anyone who buys over the net especially on a real estate agents recommendation is a fool at best”.

Totally agree with Nigel on this.

I have bought 2 properties, and backed out of 3 deals over the net. I still own the 2 properties; they have provided excellent cap growth and the rents have continued to rise. I am very happy…[Read more]

Originally posted by poperr:
I think one person (Peter) has never received so much attention!! I think he has received enough backlash for his comments.

“What do others think about the likelihood of a house price crash?” I would also like to hear?

Rob

And so say all of us! Can we all stop saving him now please.

As for the crash – didn’t we…[Read more]

Congratulations on your financial progress so far!!
Here are a few basic steps for you to follow, the ‘nuts and bolts’ will come as you go.
First step – read a lot of property investment books, sit on this forum and others and watch and learn what we are all saying and doing.
Second step – set some goals and strategies; eg; how many properties do…[Read more]

Like the quote; what about this one; “where’s the first tee, and what’s the course record??”

I don’t know the answer to the question you asked.

Cheers,
Marc.
erardent@hotmail.com

“we get sent lemons; it’s up to us to make lemonade”

Originally posted by tyrun:
I hope I’ve done this correct, so here goes.
I am looking at investing in rental properties. I don’t have much of a clue, but I’m learning lots. I have read that not all ‘Financial Advisors’ are really able to advise because they have not reached the serious investors level, and are perhaps in more debt than anything.…[Read more]

The landlord pays it. Sorry to tell you the bad news. It’s tax deductable maintenance though.

Cheers,
Marc.
erardent@hotmail.com

“we get sent lemons; it’s up to us to make lemonade”

That strategy works well almost everywhere as long as the purchase price is right and the rent returns are right for the area; it doesn’t need to be in Dandy.
Are you looking for a second opinion about your investment, the area, or both?
It sounds good – you could end up with a pos cashflow property AND long term cap growth. Gotta love…[Read more]

As long as the wall is not load bearing and you are not adding onto the building I am fairly certain you wouldn’t need a council permit. Cost to remove wall would be a long way short of the cut-off for permits as well.

Same with the fence – it sounds like it is only a privacy fence?
You don’t need a council permit to put up a new boundary fence…[Read more]

Warnambool is another of those areas where people with too much income are ‘keeping up with the Jones’. A couple of cashed up people start the ball rolling a few years ago and everyone follows like sheep.
I have been there a few times; nice place, but it is a bloody long way to go for a weekend, it has crap weather and is near nothing. Go figure.…[Read more]

Originally posted by blogs:
Im trying to find a 2 bedroom appartment (or small stand alone reno) within 10ks of the Melb CBD, preferably Flemington/Ascot Vale/ Maribyrnong area for under $300k and cant find anything thats not complete rubish. Any help or is it just what you get for that price range?

forget it – they don’t…[Read more]

With the steady sprawl of Melb there is no question that D’nong – “Dandethong” as I call it, will continue to go up in value.
How much and how soon – no one knows, but it is cheaper than most areas.
The problem is; can you shoulder the burden of neg cashflow and the odd loser tenant until the growth occurs?

With recent interest rate rises…[Read more]