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February 9, 2009 - 11:58 pm

Oh, one thing to remember though is that if someone backs into it the fence will bend.

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February 9, 2009 - 11:57 pm

SAS Building wrote:

Hi, If its for an investment property an you don't want any maintenance hassles down the track. i.e painting , rotting etc. I would go for metal / aluminium pickets. They are around $80 per lineal metre, so your 7 metres would be around $600, add $500 for install and your ahead. You could use the remaining $500 to plant a nice thick hedge behind the picket fence !!

Agreed. We have done this previously and just as well too. The tenant had a fight with friend/family member/drug dealer and they came around and set his ute on fire parked on the front lawn! Welcome to Logan. Anyway the good old fence was still standing and all it required was a touch of paint.

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February 9, 2009 - 11:53 pm

It depends on where the property is and therefore the type of tenants you have in your property. I would recommend, however, if you are going to use vertical blinds to get the ones that have sewn in weights at the bottom and no 'chains'  linking each one. We have these in a couple of our properties, they look good, are easy to clean and the tenants/kids/pets cant break or loose the 'chains'. If you stick to basic colour and design it will always be easier to match and replace.

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February 6, 2009 - 2:19 am

Thanks IP, information is much appreciated

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January 30, 2009 - 7:44 am

dank78 wrote:

I have been looking into the whole building a house thing. And with the prices on existing houses that are only a few years old; in my area are about on average $320k.

If I build about 35 mins outside of Melbourne it will cost me around $220k including FHOG; with some added extras such as Alfresco and interior extras. So in my mind building a house is far more appealing than something for a similair design that is a couple more years old and $100k more.

Im new to all this so maybe I am wrong.

Well I think you are right on the building cost estimate but what about the land to build it on? I know that land 35 minutes outside of Brisbane is more than $100k so maybe the existing property isnt so expensive after all?

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January 30, 2009 - 7:21 am

Phoenix,

My brother is having a horror story right now! He is a novice property investor and has been sweet talked into buying a house and land package of a property spruiker in WA and it is turning sour. All sorts of problems with the contract, valuations, conduct on behalf of the broker etc. have arisen and now my brother is wishing he had never dipped his toe in the water. Long story short (for now) is the spruiker is using bully tactics to scare my brother and telling him he cant get out of it. His exact words were "tough luck"

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January 28, 2009 - 4:23 am

millyb,

3 posts and 2 of them with sales pitches about your 'bargain' properties. Well done. How about contributing something useful instead of advertising?

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January 23, 2009 - 5:40 am

W4L,

Couldn't agree more, now is a great time to pool resources for a common goal. Late last year I bought a block of land on the river in Tweed NSW with 2 of my friends and we currently have plans in council for 12 units. Each one of us has something different to bring to the table in the way of skills, experience, cash flow and equity and could not have done it without the others.

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January 23, 2009 - 5:07 am

Great thread and very interesting posts to read.

Would i do anything differently? Well, yes. I would be more careful with the advice I was given and realise that just because someone gave you good advice once doesnt mean everything they tell you is gold. Sorry Dad, that ones for you. Great advice on the basics but not so good on the technical stuff.

Oh yeah and I would eat less pies. That ones for my wife.

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January 23, 2009 - 4:33 am

maree_bradross wrote:

sigh – I have to change my tune and eat humble pie

Anyway – my changed advice is go through a Property Manager – a good one is worth their weight in gold!

I have had to eat humble pie on numerous ocassions over the years and although the taste is not so sweet it is in fact extremely good for you

Save yourself the headache and employ the services of a good PM, its tax deductable remember. Mine charges a reasonable rate and does an outstanding job, I would never go back to self managing again.

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January 8, 2009 - 5:57 am

Pay for an independant valuation

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January 7, 2009 - 12:23 am

Im in Brisbane and use a company called Rental Express http://www.rentalexpress.com.au and have found them great. If you check out there site they offer free information on Property Managment and Property Investing, thats how I found them. I spoke to probably a dozen different property managers before going with Rental Express and had some really bad experiences. Best advice I can give is to go with someone that specialising in property management NOT a Real Estate Agent who is dabbling.

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January 6, 2009 - 11:55 pm

sienna1 wrote:

Me personally no.. i refinance on my properties to purchase other ones , i lock in for my own home but i need the investment homes to be fluid. Great rates though right now….

I too have used the equity in my properties to purchase additional ones and at times those loans have been fixed. I have taken an increase on the original loan with the new loan split being variable and the fixed portion remaining the same.

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January 6, 2009 - 11:52 pm

PosEnterprises wrote:

What I am wishing for is if I can get fix my IP loan at at good rate for 10yrs it would give me a good sleep during the year factor without having to worry about rising rates which kill your cashflow.

I agree totally PE. I have 3 IP loans all variable at the moment and am waiting to see what will happen in the next 2-3 months. If rates decline once again I will fix for 5 years.

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November 18, 2008 - 5:19 am

Qlds007 wrote:

Hi there

Yes you are correct the insurance will be covered under the Builidng Insurance policy taken out by the Body Corporate.

Some lenders may insist that you take out a separate poliy however this is rare these days.

On the Disclosure Statement the Vendor has to provide you with information from the BC and the insurance details will be on there. 

Richard, thanks for the help

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November 18, 2008 - 5:17 am

Qlds007 wrote:

You need to understand that the Gemworth policy varies from lender to lender so you may still be able to refinance and move forward.

Also bear in mind that not all lodoc loans are mortgage insured so that will also help you carry on.

Richard, thanks for the input. It's good to know I may still have some options.

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November 18, 2008 - 5:16 am

hbbehrendorff wrote:

You might just have to swallow your pride and get a job,  It would be better then loosing all your properties

Yuck

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October 17, 2008 - 12:24 am

Just got a new update from someone who was on the inside. The old manager and one of the franchise owners (the one with the most money invested and the most to lose) are the new directors of the company. The company has been renamed and split into two, Investor Property and Investor Networx. The ex owner is now contracted to IP and IN as the manager.

They have basically moved all the assets into the new company, left the debt behind and srewed all the employees who worked hard to build the business.

On the positive side though the old owner / new manager has bought a new Audi 4WD so at least someone made some money out of all of this.

Oh and legal proceedings have started from some very peeved off franchise owners.

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October 17, 2008 - 12:11 am

Investor Finance are all over. Poor management, unexperienced brokers and greed have taken its toll. Check out these links but read between the lines. These guys were trying to make money out of unsuspecting people by promising them a 'franchise opportunity' even when they knew the model was failing. I know for a fact that the same month these articles came out and only a few days before they closed there GC and Brisbane branched they were still accepting $30k franchise fees from hard working Australians. If you come across Investor Property they are one in the same company just with a different spin on fleecing people. Beware.

http://www.brokernews.com.au/contents/news/30088/details.aspx
http://www.finda.com.au/story/2008/10/15/financial-crisis-hits-investor-finance/