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  • Profile photo of NilixNilix
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    @nilix
    Join Date: 2010
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    Kate Melb,

    Hey whats this DYI Manage with Rent Wise? If you DIY manage doesn’t that exclude you from being able to use Land Lord Insurance? It must be a load of work, thinking about the places I rented back in the day, calling people about leaking taps etc.

    Profile photo of NilixNilix
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    @nilix
    Join Date: 2010
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    sonyasal wrote:
    I have just looked at a property that i personally don't find very appealing, however, it's proximity to all facilities is excellent and the rental facts and figures show a great return and about 2% vacancy rate over a very long time frame (10 plus years.) Needs some work done to it, just doing the number crunching to determine if i go ahead with it or not.

    Sonya

    Sonya, can I ask what investment property software you’re using? I’m using the free version at http://www.ipropertyco.com and I’m interested to learn if others are using it.

    Relating to the comments about only buying a place that I would live in. I agree with Sonya, that’s not a very good indicator of whether it would make a good investment or not. Actually, if I look at the properties I would live in, I wouldn’t be able to buy one as they would be too heavily negative geared. In fact my friend advised me not to get hung up on whether I would live in the property or not as the fact is that within inner metro cities there is a shortage of rental properties. A friend of mine who is an agent on the Northern Beaches told me that the other month he did a Dutch auction on a rental property because so many people turned up to see it, he simply asked people to fill out the rent application and accepted the one with the highest rent.

    I guess like anything, the facts don’t lie. Although it would be important to ensure that you’re property doesn’t have a power generator next door or full of cell towers that could give your tenants cancer, yet in saying that, if odd factors like that mean that the property can be bought for a lesser price, then perhaps you could get good cash flow on it anyway.

    Profile photo of NilixNilix
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    @nilix
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    Agreed – and if you got good cash flow from your drug den even with some vacancy, if could still be a good investment. Actually, that’s a good thing about the iPropertyCo Property Analyser, it allows you to play with the vacancy rates etc so you can work through different scenarios.

    Profile photo of NilixNilix
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    @nilix
    Join Date: 2010
    Post Count: 21

    Yes well due-diligence about the facts on the property would certainly uncover any issues with Bikies living next door and getting a depreciation schedule done would cover the fittings component. Actually my friend advised me that he always gets a dep schedule done and in one case before the cooling off period. That’s a pretty good idea.

    Additionally, I’ve been using the post sales data through Australian property monitors and Residex and they have good stats about the vacancy rates rents and values.

    Cheers

    Profile photo of NilixNilix
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    @nilix
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    Actually it does. All duties and taxes and the depreciation estimates were only about $300 off my actual quantity survey report. It seems like the trial is for three months too, so I’m pretty impressed.

    Profile photo of NilixNilix
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    @nilix
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    Is anyone using the property analyser at http://www.ipropertyco.com?

    Seems good and I want to know who else is using it.

    Profile photo of NilixNilix
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    @nilix
    Join Date: 2010
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    Answer is here – http://www.iproeprtyco.com.

    They are new but their software is free and I’m really impressed by it.

    Profile photo of NilixNilix
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    @nilix
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    Profile photo of NilixNilix
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    @nilix
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    This is the best one http://www.iproeprtyco.com

    It has a really cool dashboard and you get a full working trial – so no need to get stung for $250!!!

    Profile photo of NilixNilix
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    @nilix
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    Property Investment Cash Flow Analysis Software for free can be found at http://www.ipropertyco.com

    Profile photo of NilixNilix
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    @nilix
    Join Date: 2010
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    The best one is http://www.ipropertyco.com

    It’s a free trial too.

    Profile photo of NilixNilix
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    @nilix
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    Fei wrote:

    Hi

    I live and work in Auckland city center and want to start  property investment soon. As a beginner I don't have much confident, could someone be my mentor please?

    Is there any  FREE/ good  property investment software  that can computes  offer price of a property with  some preset factors like expected   rate of return, interest rate, monthly installment amount that can afford etc ?   Recently I came across a run down property sitting in between good and well maintained properties with market value between $380K – $500K. How do I know what is the  right offer price I should put forward given the fact that currently I can only afford to pay upto $1,500/ mth installment and loan amount is approx $200K? What other factors I should consider please?

    And how appropriate is it to use FHOG/ First Home Buyer Loan package to purchase first investment property for someone who doesn't own a property yet?

    Many thanks.

    The only one that does everything you mention is:
    http://www.ipropertyco.com

    Profile photo of NilixNilix
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    @nilix
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    To analyse cash flows, http://www.ipropertyco.com is pretty good.

    Profile photo of NilixNilix
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    @nilix
    Join Date: 2010
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    I’ve used http://www.ipropertyco.com, it’s a free trial and pretty good.

    Profile photo of NilixNilix
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    @nilix
    Join Date: 2010
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    Hello – I just logged into this website and launched the programme. It looks pretty good, but I’d like to know if anyone else is using it?

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