Hi No Cash,

I’m probably a bit conservative, but I wouldn’t get into IP if I didn’t have a job and was not self employed. I’d be too worried about a fallback position. What happens if this IP struggles to rent out? How do you meet the repayments? Probably need some more info from you on the stats of yourself and the property in question.

Cheers
r

g’day mannie,

I’m sure if you go back through the posts and do some research it’s pretty obvious where westan is buying… he hasn’t made a massive secret of it…

cheers
r

westan,

I was optimistic, but I told a few people “let’s not get too excited, just wait and see where we are at the halfway mark.” Sure enough, and sadly enough, they let us down again…

Ah well…

r

Good on you Michael and Kaye,

I left the city a year ago (still work there) for 60 acres 1 hr north of Melbourne… plans to grow grapes, get some cattle etc… best move we ever made, and we’re still within striking distance if I want to go and watch my abysmal Tigers play AFL.

Cheers
r

Howdy,

Areas like Bundaberg, Mackay, Townsville, Cairns and Gladstone are good, but it’s a lot harder to find cashflow props up there. At least, that’s what I’ve found.

I was engaged to a girl from Bundaberg once (won’t bore you, but it didn’t turn out too well) and when I went there about 8 or so years ago, it was in a similar situation to what…[Read more]

actually wilandel, you raise a good point… I reckon a lot of people think “the block”-like thoughts as soon as they hear the word renovation…

by the way, I recall someone offering you to help out with a reno (from sydney if i remember correctly)… I wouldn’t mind getting some more hands on experience… I’m in Vic, near Kilmore.

cheers
r

Hi native metal.

I’ve met Steve twice, and he doesn’t strike me as the type of bloke who sells pipe dreams.

If you spend time reading back through previous threads, you’ll find that looking at realestate.com.au is not the only way to find positive cashflow properties. In fact, it’s only a useful tool for getting an idea on areas, because the…[Read more]

on raw figures it looks promising, but never take anything at face (or figure) value.

cheers
r

I’m not qualified to answer your question in any real depth… the only thing I’d suggest is talk to your broker about it. They’ll have good advice…

How do you define the best anyway? I have 5 loans with Bank of Melb, one with Commonwealth… my broker reckons as I go along we should spread them around. He did tell me why, but I can’t recall…[Read more]

hi trish,

sorry if I misinterpreted your question…

my loans with the bank of melbourne work on a 10% deposit. Personally I’m happy with that… I have a line of credit against my house that allows me to take action pretty quick if I spot a bargain, because I already know I have the cash up my sleeve. Plus, I wouldn’t want my LVR to be too…[Read more]

Howdy Mini,

Of course it’s true. As I said I would have bought it myself had it not been outside my criteria… one of my purchases needed nothing doing to it, cost me 56k, will rent for at least 130pw. That’s more up my alley… one was 66k, probably needs a paint, rented already for 120 pw, there’s more but I won’t bore you []

Anyway, I’m not…[Read more]

hi sooshie,

going on what the agents were telling me in june, it was well and truly booming from around april.

cheers
r

howdy ma’am,

done it with props valued from 56k to 250k… it’s just a holding thing.

the 10% deposit goes to the bank before settlement.

cheers
r

I just write cheques for $500. Haven’t been knocked back yet…

cheers
r

was it frank brady by any chance?

cheers
r

(by the way, that’s my century *raises his bat to the pavilion*)

g’day johnny

do a search and you’ll get heaps of previous discussion

cheers mate
r

hello again brady…

as I have said before IF you are fair dinkum,
don’t worry too much about property at your age… read some books by all means but go kick a footy, or chat up some girls… much more fun.

cheers
r

hi derynaka.

you’ve obviously been doing this a lot longer than most, so it’s great to have your input, and I’m getting some new perspective on things reading your ideas.

one of the keys to getting stuff out of this forum is taking things on board, and deferring to those with greater knowledge, so the collective knowledge is increased.

perhaps…[Read more]

fair enough explanation, i don’t think these guys are dodgy at all.

cheers
r

hi westan,

while your examples are great I reckon people should be encouraged to get into the habit of reading the fin review, age, local rags etc a bit more closely… you’ve proven it’s not brain surgery, it’s just a matter of opening your eyes and ears and widening your range of perception.

abc.net.au is another good source of finding out…[Read more]