Let me give you an example of my first property bought in 1997. It’s a 2 bed unit near beach, transport, schools, parks etc.

1997 – Bought $95,000 Rent = $145 per week.

2004 – Now Worth $240,000. Rent = $205 per week. Var int rate = 7.07%

Passive Income = Rent $10,660 less Interest $7070 ($100k at 7.07%) less other costs $1,00…[Read more]

There have been many debates about this.

Me – I prefer growth properties but I do get nervous about talk of interest rate rises.

So its a real treadeoff.

Sounds like a business not a real estate investment.

The House next door probably goes for something like $250k maybe even less.

You dont run it well and bye bye bye your hard earned dollars.

They operate out of Surfers Paradise. Dare I say anymore

Its in Sth Frankston. Thanks for all your comments – i did not really think it was a good idea. This tenant has been there over 3 yrs and all the other body corp people rave about how nice and good she is so i thought she may be interested. But I wont do it.

Originally the body corp was going to get it done professionally so I paid my share at…[Read more]

Sounds good. I like your idea.

The Property manager does it. Thats why I use a property manager because as part of the service they access and add people to these lists.

I dont know if individuals have access or can add people to these lists.

<<<<<building quality in the area>>>>

I live in the area – not Langwarrin but 15-20 mins drive. I have not heard any bad reports specifically about Langwarrin.

Worse case scenario you should be covered under home warranty insurance.

I would like to do this one day. Who rents it for you – the agent or the local travel bureau?

Could you be a bit more general? I have also heard there are bad politicians in Canberra – could this be true?

Thats what they do – use a property manager and HOPE for the best.

Was her name – Sue

This is what happened to my brother and his mortgage broker.

He kept getting extensions and the bank (but I suspect broker) kept taking time for final approval.

The broker kept saying – i have not heard from the bank etc etc. until a week before settlement he signed the final papers and got stooged on high exit fees. He was probably told but…[Read more]

Terry

Are you saying, loc doc exit fees on all products are expensive?

Do they build in high exit costs so people stay paying a higher interest rate for longer.

We are going to see my broker attached to my solicitor this week.

Yeah but if you only bought one or two of the units you could have got a residential loan.

As you wanted 12 – you could only get commercial. Am I right?

If I had a choice I would put my superannuation money into a good quality negative geared property.

I have been working for 15 yrs and my total super is crap. I have made 15 times more out of investing in property in 9 yrs than I have in Super.

There is no gearing in super either.

I shudder when I see how much my employer puts into my super…[Read more]

Strata Title is best.

That way you can sell each individually. As a whole they may be worth $80k each. But if you strata title you may sell each for $100k.

Also banks will lend residential rates on each unit and not require a commercial loan for a whole block of units.

Some people make alot of money by buying a whole block like that and then…[Read more]

<<<<…..snap up the bargains.>>>>>

They wont be bargains in the long term.

In 5 yrs time, people will be trying to offload their rural properties because they realise they aint getting any growth, their not ve+ when rates rise and repairs eat into rents and the hassle of managing a property is not worth the effort.

And thats without worrying…[Read more]

Sue

Stop Shouting – your waking up the kids

How many properties do you own in Kalgoorie?

Are you an investor?

How long you been investing?

Retired yet?

Are you a salesperson or a contributor to this forum?