YYYYYYeeeeeeeesssssss ttttttttttthhhhhhhheeeeeeee sssssiiiitttttteeee iiiissssssssssssssss rrrrruuuuuunnnnnnnnnnnninnnnnnngggggggg vvvvvvveeeeeeeerrrrrryyyyyyyyy sssssssllllllllllooooooooowwwwwww ffffffffooooooorrrrrrr mmmmmmmmmeeeeeeeeeeeee…[Read more]
Hi, this is a good topic.
I have my own idea when it comes to keeping records.
Every year I purchase a new green Collins A 60 series Money Book. I then section it of with tabs for each property and one extra for stationary. Each section has the following headings.
Date, Travel, Phone call, Rates, B.Corp, Manager, Interest, Misc, Rent.
When my…[Read more]
Hi again, stuck on two,
I want to tell you what i did when I was in my late teens.
I bought a fantastic block of land in Rosebud Victoria. I hadn’t owned the land long when the Houseing Commission offered to buy it from me for almost double what I had paid. Well it was to tempting, so I agreed.
I ended up buying a near new car with the money,…[Read more]
Hi stuck at two,
I don’t see that you have a problem. I beleave you should put your rent up. I have several town houses and it bothers me when I’m getting $180 a week rent and the investor next door is only charging $155. This is a common occurrence in Logan. The other point you should concider is that when you addvertise to sell you will get more…[Read more]
I beleave I’m some where in between PAW and an AAW, I should of started my retirement plans ten years ago. But hey, every investor says the same thing. The millionare next door is one of my favourate books. I had some time ago left a post ( under what type of vehcle do you own ) asking if anybody could remember the formular for…[Read more]
This year is starting just as I expected. Slow. I’ll have three properties vacant in Febuary – March, but that’s not entirely a bad thing. Feb – Mar is the busiest time in the rental market and I will be in a possition to put reants up $10 – $15. I won’t be purchaseing until next year. Nead to let the equity grow a little.
Thank you all for your tips. I have some that haven’t been covered yet and they are :
1 : All ways settle with the property vacant. All ways !! You need to know everything there is about who it is living in your place. Start fresh.
2 : I prefer to give my managers gifts rather than the tenants. A good gift is something like a hamper from the…[Read more]
Yes would also.
This reminds me of a situation that I was in with a bank. We had signed a contract on a property and had organised finacne. When the loan schedules had arrived in the post we had to sign every page. Well to my surprise there was a page that was vertualy blank. I rang our loan officer to ask for an explanation, she replied with “…[Read more]
I remember your article well, it was one of API’s best. After reading it we decidede to put up a 10% deposit on the next property we purchased early last year, and we will continue to do the same in the future. I beleave that if we had of used a 5 or 10% deposit when we first started out, we probabaly would have 9 or 10 properties now…[Read more]
I have seven properties in Logan. All the suberbs that you have mentioned have a high percentage of rental properties, and are all in the lower bottom quarter of the market. I beleave you should try to move to the eastern side of the highway, Shailer Park, Daisy Hill, Rochedale, Springwood etc. But if I had to choose between the…[Read more]
I don’t beleave the forum is dying, just a little bit sick .
I’m useing Windows 98 and I think my computer is even older. I’ve been haveing heaps of problems since the forum change. It seams to take much longer for the posts to be displayed and then to go back to the forum index takes forever.
Because of this I now only veiw posts that…[Read more]
You must take Landlord insurance on strata title properties because the Body Corporate insurance doesn’t cover your lot area for Public Liability, only the Common areas. Also it is against the law in Queensland for your PM to give you insurance advice. We use Terri Scherr because I personaly like the wording ( you will be covered for malisious…[Read more]
What’s the area like?
All very much in the bottom quarter of the Market. Most Town houses were built late 80’s early 90’s. Houses are looking older than what they really are, very neglected.
However values are still increasing around the 15% mark and rents art also increasing. This time last year a typical Town House that required no work could…[Read more]
I agree with RICHO1.
The values are nice to know, but it’s the rent and interest rates that’s impotant. Most Mum and Dad investors wont even look at selling unless the interest rates start to creep over the 10 % mark. When prices start to fall home owners don’t sell up either, this causes the falling of prices to be only temporarily. Home…[Read more]
May be all investors and family’s could get together on the first Friday or Saturday night of each new season. At a club or pub or even a restaurant.
That would be good..[biggrin]
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