Sounds like you are subject to captial gains…..

Not sure if houses could be considered ‘trading stock’ If someone stays there for 30 yrs – how could that be stock.

Oh well – at least you are helping someone into their own home. Maybe next time allow for CGT when bumping up the price.

In addition to the research on property.

Continue your studies through university in a field you really enjoy.

Hopefully you can generate a good income from that and that allows you to borrow more money.

The quicker you start the better – but dont rush things. Its time in the property market that pays.

Mini

It now looks like you and I agree too. My overall portfolio is neutral or slightly ve-. But i do have a job to support it.

And I agree with your strategy at the moment. I am glad to hear that you will still buy quality stuff in a few years time.

Good question.

I would do the following;

1. Buy a PPOR or rent if I could not afford a PPOR.
2. Save and pay as much off ppor as possible
3. Save – knowing that there will be some good opportunities out there in 2-4 yrs when all those that bought properties in the last 2 yrs get disenchanted with no growth after buying properties expecting to…[Read more]

I use the same strategy as you SIS. Older properties support newer ones.

My guess of the domino effect.

1. Buy 1 property
2. Use equity in that to buy another property
3. Use equity in both to buy 2 more.
4. then you buy 4 more. You now have 8.
5. Then you buy 8 more

etc etc

My first investment property was a 2 bed unit in Mentone, bought for $90,000 in 1997. It rented for $135 now rents for $205.

Never lost any rent except for between tenants which was only a week or two.

I have replaced Kitchen, carpets and landscaped backyard and painted.

An unrenovated unit sold for $250k a few months ago so I reckon mine is…[Read more]

I will check them out.

<<<<I think this is the first time that Yack, SIS and Chan$ has somethings in commons…lol….quality investment property:>>>>

Now we need to work on Leigh K, Mini Mogul and Pisces. Well there are some battles you cant win.

Bear Said.

<<<<<<<But I also believe that +ve properties is the only way some people can actually break into the RE game/market.>>>>>>>>>>>>

I acknowledge that. However I have made the assumption – that to invest in property you need to have an income to support borrowing. You are then better off in the long run to buy good quality growth…[Read more]

I went to a State Trustees auction this weekend for a property in my area. It was a 2 bed unit and I thought the price sold held its value quite well. There were a few bidders competing.

I was expecting it to sell for less.

I am not sure how to respond – but here goes.

1. I have been investing for much longer than 1-2 yrs. So my properties have grown in value and rents. As that happens I buy more quality properties. My last property was purchased two years ago.

2. I make my portfolio of properties ve neutral. Some are ve+ and some ve-. Thats because I have had…[Read more]

I would pursue it with the Investors Club – they should be looking after your interests as thats the premise of the Club.

I would also take it up with Kevin Young. Tell him you may speak to the radio and make a fuss, you may even speak to Jenman about it, go to all the meetings in your State and post it on boards like this and somersoft and…[Read more]

Mini <edited – no name calling thank you!>

Sorry – it was suppossed to be light hearted.

Yesterday in a separate post I called Pisces – Pieces.

Yeah – I do laugh at my own jokes. You would too if you had my job…..

Mini <edited – no name calling thank you!>

I acknowledge all your good points.

I just dont have the time for researching a particular area for ve+ investing. There will be a time when I will need to have ve+ properties as I approach semi retiring.

As my portfolio is neutrel or very close, I dont need to go to far from home. I will just wait…[Read more]

Pieces

I would rather hear from Bec so I can understand if she is some consumer advocate or a person with a passion for property investing.

I would also like to hear what her property investing strategy is and how long she has been an investor.

If she does not respond, then I can discount alot of what she says and contributes to these forums.

In Victoria.

My understanding has been that I can increase the rent if I give 3 months notice. A letter is sent from the property manager. If they want to stay on a month by month, they then start to pay the increased rent. If they want to leave they give 4 weeks notice.

So eventhough I dont have a 12 month lease, I still get the increased…[Read more]

<<<<It appears the PM also charged a weeks rent for ‘renewal fees’ when the lease was signed.>>>>

I have been charged that before.

I prefer to use a property manager. What you can do is find another property manager and get them to do the paperwork transfer between your old property manager and the new one. I once did that and it worked for…[Read more]

I dont have experience but would like to know as well.

I would have thought you would need to come up with a 20-30% deposit and then find finance in Nth America.

My wifes family is in Canada and we would like to buy there one day or in the US in a town near the US/Canadian border.

Can you please email me. I am in Vic?

Do a search. I have seen a few checklists floating around on these forums.