I tend to believe that investors who manage their own properties tend to get bad tenants.

Unless the person is very experienced in property managers and knows how to check a tenents past history and has access to the different rental databases.

Bad tenants probably do not go to agencies as they know they will get caught out. So they surf the…[Read more]

I know where your coming from.

I too hate repairs. But they are a necessary impact of investing. I think of repairs in this way;
1. Have to be done.
2. Get half back on tax so it really costs only half.
3. makes the property better – hopefully less mntnce in the future.
4. Think of the bigger picture – capital gains in 3-5 yrs time.
5.…[Read more]

I will start with Vic: Surburbs of Melb. Well for me anyway.

Management Fee 5 to 7% + GST. In my case its 5% as I have multiple properties.
Poperty Condition Report – Included
Quarterly Inspection – Included
Bond Inspection – Included
Letting Fee 1 wks rent + GST
Postage & Petties – $3 Statement Fee
Annual Rental Statement – Included

my sister used ashphalt instead of concrete.

I like The Block (go Matt and Jane – the others are just too Sydney) and the Apprentice.

I am also into CSI and Law and Order on Sunday night. NCSI is not too bad either. Who has got 2 hrs concentration for a Sunday night Thats a good move by Channel 10.

I tend to agree with Diclem.

After all a blocked toilet is a serious problem and I suppose a sunday does incurr penalty rates.

I would only be pissed if the property manager did not call me first.

A few weeks ago it cost me $65 to turn a heater on. I did try myself but had no luck, nor did the tenant.

I believe an expense like this is just…[Read more]

I am pro – frankston. I do own a few properties there and my family live in the area. I live closer to the city.

Do a search on Frankston and you will find a few other threads with my comments.

Why I like Frankston.
1. On the beach – under used asset.
2. Marina looks like going ahead.
3. Bulk stores being built eg. white goods stores. You…[Read more]

Interesting Article – it sees Australia being overvalued by 29%.

Ah well – just be cautious, buy what you can afford to hold long term.

I prefer capital gains to ve+ cash flow rural/regional town properties.

Is the effort (finding tenants, attending to repairs, paying bills, liasing with repairmen, property managers, driving to place) really worth an extra $200 a month.

I purchased my last property two years ago and it was ve-. I decided to sell it and cash in the profit and…[Read more]

If you provide reasonable properties at market or slightly below market value and attend to repairs in a timely manner then you dont need to provide these extra benefits.

A good tenant will recognise this and pay rent on time.

Short Answer – No. I am an investor not a gambler.

Whats $1500 when your spending $100k or more. Better off investing $1500 in viewing area and property than loosing say $10k. Also dont forget the time in the market you may also loose if you make the wrong purchase.

I agree with you both.

Sonja – I believe things will slow and there will be better buys in the future.

But I also understand where you are coming from Kaye. These are different times. But I would like to see some income increases to support current property prices. Sure that may mean interest rate rises but I would rather have some inflation…[Read more]

I agree with Del.

Houses dont sell because vendors expect too much?

I dont see a problem. You could get the new PM to handle the paperwork with the old PM, so effectively the new PM is working for you as soon as you agree to their terms. They can serve 30 day term.

In some areas swapping PM’s is common so they may even ignore the 30 days notice.

Oh Well. Good to see some reality about rural properties hitting the airwaves. I would love to hear from someone who has owned rural properties for over 5 years.

Has it been worth the hassles? How much postive cashflow from a rural property do you need to justify the time you need to put in? Thats the magic question?

Yes I read this article and the other ones surrounding it.

It only confirms that prices are overstated and cannot be sustained at this level. The other articles are now saying there is a great divide in wealth in Australia between those that own and do not own property. ie. those that own and those that rent.

The big question to me is – will…[Read more]

Go read firstly any of the books by Jan Somers.

She is from Brisbane so alot of her stuff is based on her experiences in Brisbane.

I credit her with my success and I have never paid for a seminar.

Its a tough one. I have not been through it yet but these are my thoughts.

1. If you sell before finding new PPOR. You may be limited in whats on the market and you may not find the PPOR that you really want in the time you have. Or you have the extra hassle of renting and moving twice. This too costs time and money.

2. If you buy new PPOR…[Read more]

Seems highly unlikely to me.

Based on your figures I dont know how she can afford to eat let alone pay 3 large mortgages.

She may be better of selling one of the investments and paying down the PPOR loan and trying to buy a second investment property.

I doubt very much she will get a loan for a third.

But ask the mortgage brokers – they should…[Read more]

I pay my wife $750 per property. I work full time and she looks after the kids and properties. The investment properties are in my name.

The management fee is declared in her tax return. I get the deduction against my income and she pays no tax on it as its under the income tax threshhold.

I have a mate who pays his wife $1500 per property.…[Read more]