Dont worry about tomorrows dollars. Think in todays dollars. How many dollars of assets in todays dollars do you need to get $100k in todays dollars.

Then try and get that number of assets over a period that you can achieve.

Yes. Sound out the agent for what he wants. then go below that. Make him work for his commission.

<<<<<Keep an open listing with all agents is what I would do. On a genral property I wouldnt give anyone a sole listing.>>>>

I disagree. I would only appoint an agency and only give them 6 weeks. This is important as most agents try and get you for 3 months and they just wait for you to reduce price.

I got this from Jenman and I saw it happen…[Read more]

Jancrows –

What state are you in?

Poor Ed – got a sore back.

http://www.smh.com.au/articles/2004/04/11/1081621836078.html?from=top5

<<<<<am i right in thinking that melbourne will host the 2006 commonwealth games? if so, will this impact on centrally located apartments? and are there any other significant events in the pipeline to stimulate the market. >>>>>

Yes. The 2006 Commonwealth games are here in Melbourne. I dont really think it will effect the property market. We…[Read more]

<<<<are they all stupid people from the far east with more money than sense? >>>

Yes. And they are the ones who rent them too.

Have you looked at Docklands and Port Melbourne.

There are some new developments around Port Melbourne. Mirvac developed the area there.

I now understand why you are interested in new developments as you can only…[Read more]

Sounds like advertising to me.

Sounds like you are from overseas or spent alot of time overseas. Do a search on the forums for Southbank and Docklands and you will see what the locals believe.

Most real estate has doubled in Melbourne sinve 2000, except for Southbank and Docklands. Personally I would buy anywhere in Melbourne wihin 10kms than Southbank or Docklands.

If you…[Read more]

Nothing really. I have taken the opportunity to spend this time with my wife, kids and family.

Merely making a point about Wrapping. Hopefully he will realise this is an extreme case but could possibly happen.

Is that not what wrappers do? Charge a price above market value and charge 2-3% above variable interest rate.

The present rate is around 2-3%. Anything above this would worry the Reserve Bank and they will probably increase interest rates.

If you can afford $400 per week I can help you into a $150k home for $200k payable at 9% interest rate (ie. 2% above std var rate).

You can then refinance with a bank at a later stage but at least I can get you into a home.

Sounds like win/win to me.

<<<<How much on average would you spend updating the >>>>

This is a tough question and would depend on what the property is worth.

You would not spend $20km on some of those $80k dog boxes but you might spend that on a $200k property.

You need to decide how much the property will increase in value by doing the renovation. I recall my estate…[Read more]

I have rented to my brother in the past. But this is the only time I have lost any rent. So I will never do it again. I used a property manager to protect myself but from what I understand this chick is from a family that does this all the time.

<<<<<How many people even in here have never even thought about developing an exit plan should the unforseeable happen to their investment or thier abitity to fund it……mmm thought so >>>>

Tell me a bit more about what you mean by an Exit strategy? Do you just mean being in a position to sell when you need to as against holding all properties…[Read more]

<<<<<Thanks people for the feedback but only one person has been able to do this.This must be to hard even for the proffessional investors.>>>>

Whats your point???????

Are you saying you got a way to do it? Got a course we can do? Trying to sell us Mezzanine Finance?

Whats your point?

Just got judgement from the residential tribunal in my favour. Now we need to track down the tenant who has moved to the feral state Queensland.

So now I am investigating how to transfer to a debt collection agency.

Dont you realise how long it takes mini to do her posts. Even my wife does not talk so long….

When you feel comfortable – take the plunge. Its a bit like when you learn to drive. I learnt more after I got my licence.

Dont forget to look at the worst case scenario. If you can ensure that does not happen eg. lock in interest rates then you ok to go.

Also property investing is a long term gain. Dont expect overnight gains. Buy when you…[Read more]