[mattstaParticipant@mattstaJoin Date: 2011Post Count: 604]

January 10, 2012 - 3:48 pm

I've been reading up more and more on CF+ properties as I focus on this as my first phase of my investing strategy.

For CF+ deals, I'd suggest checking out mining towns, regional towns and areas outside capital cities.

[mattstaParticipant@mattstaJoin Date: 2011Post Count: 604]

January 10, 2012 - 3:44 pm

TIP: If you fail to plan, you plan to fail. Set up goals for yourself – such as short, mid and long term goals. Then figure out plans for the achievement of those goals. Also set deadlines. This can be very important for real estate investing, so that you can achieve financial freedom.

[mattstaParticipant@mattstaJoin Date: 2011Post Count: 604]

January 9, 2012 - 3:33 pm

DHCP wrote:

You will pick up some ideas from this free seminar but mostly they are introductory topic…then they will ask you to sign up for their program which cost a fortune. Think of it like an entree, they will serve you the main meal and dessert when you become a member.

Ohhhh! how it annoys me when I take the effort to go to a seminar and all I get is fluffy introductory info!!! That's why I prefer forums and books, because you can often get more indepth info

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January 9, 2012 - 3:28 pm

Yeah, I'd suggest to rent it out fully furnished. It can make things easier for you and the increased rental returns can be worth it

[mattstaParticipant@mattstaJoin Date: 2011Post Count: 604]

January 8, 2012 - 3:53 pm

I like the sound of doing renos as well, especially  while you are living in it (might as well).

Even simple renos like the flooring and painting as you suggested can help to increase the "perceived" value of the place, to then help you increase rents

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January 8, 2012 - 3:48 pm

I also prefer learning from books and forums. Books tend to be good because the info is more organised – sometimes forum info can be all over the place.

Some seminars can be useful, but often they may skim over info (because it's hard to go through material in depth in a short period of time), or you may be stuck in a seminar that is really a sales pitch

Good luck!

[mattstaParticipant@mattstaJoin Date: 2011Post Count: 604]

January 7, 2012 - 11:42 am

Hey DMB,

Good question!

This article may help you about the latest trends between Home Ownership VS Rental Affordability – esepcially since you're trying to decide for yourself which is better.
It also shows you the median rental prices for different cities, including Adelaide where a 3 bedroom median rent is $320.

[mattstaParticipant@mattstaJoin Date: 2011Post Count: 604]

January 6, 2012 - 12:40 pm

Well done on making a decision! Hopefully it will make you prosperous for the new year.

You had mentioned that you were thinking blacktown – I went to a property seminar where they were talking about the potential of this area. I may think of looking at the properties there myself

all the best!

[mattstaParticipant@mattstaJoin Date: 2011Post Count: 604]

January 6, 2012 - 12:37 pm

You could get soem gems of info if you go to these "free" seminars, but at the end, they'll give you a sales pitch on one of their products and services – they may say that thei'r service that they offer is also "free" for you, but find out how they make their money. They might actually make money via commissions.

Personally, I prefer learning from books and forums and other mentors. Good luck!

[mattstaParticipant@mattstaJoin Date: 2011Post Count: 604]

January 5, 2012 - 2:04 pm

hey dark star,

yeah i'd suggest to pay off the personal debt loan first – as the interest rates on those can lose you lots of money.

Good ambitions though keep it up.

I'm not sure of investor clubs in Melbourne, but just watch out for "clubs" that claim to be in your interest but that will want to sell you or scam you.

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January 5, 2012 - 2:00 pm

Yeah I'd be mostly concerned about the transaction fees and the exchange rates.  If you're still getting ahead even with these fees and rate fluctuations, then it can be worth it. It also helps to have cash reserves, just in case exchange rates get hairy on you all of a sudden.

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January 4, 2012 - 11:13 am

Hey Andrew,
Did you attach a pic. I couldn't see it (I tihnk I have to register for a service to see it?)

Anyway, I agree with the concept of increasing "perceived value" – although your idea of darkening colors from the entrance then to other rooms could be a little strange. Will they all be the same color but different shades? Totally different colors from dark to light may be weird. Why'd you choose that thinking for the colors, im curious?

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January 4, 2012 - 11:10 am

I'd also suggest that you talk to a mortgage broker who can give you more specific advice about your situation, and give you loans that can suit you

[mattstaParticipant@mattstaJoin Date: 2011Post Count: 604]

December 13, 2011 - 9:25 am

I'd also suggest to have your first purchase as an owner occupied home – make it your PPOR for a few months or years, and take advantage of the first home owners incentives. Then go from there to buy more investment properties.

This is what I'm doing for my own strategy. In terms of location, I was originally planning to buy a first home in the eastern suburbs of sydney (for the lifestyle, etc), but recently, due to the affordability of western suburbs and the fact that I can work from home, I am leaned towards buying out west.

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December 13, 2011 - 9:18 am

yeah. if you buy a totally new and off the plan unit, then there's no historical data about the place to help with your investment. Although if it's off the plan and nearby other similar units in the neighbourhood, then that might help give you a better understanding of the potential returns and investability

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December 12, 2011 - 4:57 am

by the way – from your experiences, how much savings for a deposit and other expenses do you think purpleairplane and other newbies should have before they can get into investing Steve's style?

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December 12, 2011 - 4:55 am

Very interesting story goldies – thanks for sharing. It inspired me too.
I think one of the biggest hurdles is to actually start!

Hmm. thinking of getting and re-reading Steve's books

[mattstaParticipant@mattstaJoin Date: 2011Post Count: 604]

December 11, 2011 - 11:00 am

heres some recent Gladstone property data and trends. It might help you figure it out:

http://www.rs.realestate.com.au/cgi-bin/rsearch?a=sp&s=nsw&u=gladstone

[mattstaParticipant@mattstaJoin Date: 2011Post Count: 604]

December 11, 2011 - 10:54 am

yeah educate yourself first. Be confident when you invest (even in your first IP) so that you don't get ripped off and taken advantage of.

I had a look at the book list in the post above. It's a very comprehensive list. You probably don't need to read all of them. Check out reviews on amazon to getan idea of which ones are suited for you.

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December 10, 2011 - 9:44 am

perhaps when you mean "not buying in your own name", you mean buying property using a company name instead??