I would use a Buyer's agent especially if you are buying in an area you are not familiar with. It is always better to have someone knowledgeable in real estate to help you to get the best deal.

I would personally go with 20 years. I do not like repaying for something for long. Always try to pay a loan before a due date.

I agree with previous posts. It is always better to own than rent. To me just spending money on rent is like wasting money over and over. But you still need to weigh all advantages and risks associating with owning a house: maintenance cost and etc. 

Good luck in interviewing you candidates and do not forget to ask important questions such as how long he/she has been in the property management business, who will specifically manage the property on the daily basis,rent collection process, how they advertise property and etc. 

Wow! I never thought about East Tumor. Are you for real? Is it worth looking into East Timor?

I see two options here: to get everything in writing and notarized for the best protection or just install fans yourself and increase rent. I would probably go with the second option, though. 

I would do the throughout investigation first. I am not a risky person, so I would probably stick with the current property, which already has a positive cash flow. However, if you believe that your friend can help you to make more money- then go for it, but, of course, after a careful investigation.

If the tenant knew about the heating situation in a house before you moved in, they definitely can ask for an upgrade, but their rent must be increased. I would recommend you to tell them that you would install additional heat pump, but due to the pricey renovation, they have to agree to an immediate price increase. In my opinion it would be the…[Read more]

Thank you, Nathan. I will sure do! For now I am just researching this idea:trying to get as much information as I can. So far it looks that with all foreclosures it is more people rent apartments nowadays in the US.

Sure, it will increase the price. Plenty of home buyers have families and kids, often more than one. Thus, they will need more than two bedrooms for sure. I would also recommend building additional bathrooms for each bedroom. It will definitely increase the property value. 

I read that Perth property prices will go up by the end of the year. So I recommend you buy Perth property now, before its prices will be too high. But really who knows how long property prices are going to last.

I am not a plumber, but quotes that your plumber provided to you sound ridiculous. Did you try to talk to your insurance company? May be they will agree to cover some of  the cost. 

nguli wrote:
Hi Mattsta,
I actually loved this original post by ALF1 so I was glad when it came back up in my email notifications! As for interesting things to share… Can't say I do Just trying to pay down the PPOR loan so I can borrow again for my next IP! Hopefully before Christmas fingers crossed! How about yourself?

-Nathan

I am glad…[Read more]

I am glad that rent to buy victims are able to seek compensation. It is terrible to make money on other people’ desperation to own a home. I also wonder how other States will react to this new precedent.

I would never buy such houses in the US. Most of them are in terrible neighborhoods, where any outsider would be scared to get out of a car. This type of investment is definitely not for me.

Nigel, I agree with you on the American market. Buying apartment complexes there will definitely make big money. A lot of foreclosures happening there right now, which means that more people move to apartments.

Hey Nguli, what have you been up to? Anything interesting to share?

Thank you ALF 1 for the optimistic thread. I also do not believe that Australia property market will have the same fate as the US property market. You mentioned valid indicators for the US. Fortunately, for us it is not as bad here in Australia But I still read a lot of articles stating otherwise. According to them the Australian property p…[Read more]

History repeats itself. It is always ups and down. The whole world is down now: high unemployment rate, recession, debt and etc. It might get worse before it gets better, even though I always hope for the best.

I believe it is hard to save because most people do not know how to save, unfortunately. It does not matter if you have a good job or not. It is all about discipline and buying things that you need not the ones you want. Additionally, it is important to know how to invest properly. Right and smart investing will soon lead to a financial independence.