Yeah its bad!!!
My partner owns a holiday rentals company on the Mornington Peninsula. The best places to buy are in Rye down as these have the most demand, but all areas are sold out in Summer. Best to look for 4+ bedrooms if you can get one in your budget, this way it allows for 2 families to stay and you can ask a higher weekly amount.
You also want to look at who your target buyer is. I am guessing it will be a landlord and not an owner occupier as the area sounds like it is predominantly renters if your concerned about vandalism.
As a landlord you always would rather buy an investment property with a tenant than one that’s vacant. That alone will enable you to get a…[Read more]
I think Trulia has to be one of the better sites in the US if you want local information about which state to invest in
Check this out on New York for example:
It has crime with dates and type of crime, schools and stats on sales prices and market trends.
What do you guys think to this request..
Tenants inspect a property and see it has vents for heating and cooling in the ceiling and floor. They also notice that there is portable electric heaters in the bedroom and lounge room downstairs where the vents are. One of the vents has been taped over with sticky tape.
The tenants asked the agent if…[Read more]
Okay thanks for that. Tax Liens are an exciting opportunity in the US. You certainly don’t need 3 days to learn about them.
What I found attractive about tax Liens is they are backed by the US government. They come about when a property owner has not paid their annual property taxes (our council rates here), after a certain time the county…[Read more]
To answer you first question about how many properties you can purchase with $300k at 70% LTV you could potentially buy up to 10 properties at $100k per property, but you will need money for closing. That could be another 2% of the property price. Another consideration on lendind restrictions is some lenders will want the property…[Read more]
You will not be able to get a traditional bank loan with a 5% deposit.
From my experience investing in the USA you can borrow for an investment property 70% LTV as Ivan said however this may have restrictions on the maximum hour price you can purchase – e.g $200,000. There is also conditions that you will need to purchase in your own…[Read more]