Depends on solicitor. My solicitor who I have known for years bills me after settlement.

I have never had a problem with valuations. Sure banks are conservative and I expect that, but when I do my own valuation I look at similar properties in the area. The bank valuation has always agreed with my valuation.

I often hear of marketing companies like the investors club winge about bank valuations. Every month in their newsletter…[Read more]

I vividly remember giving my thoughts on these 4 topics. But it seems to have disappeared.

Confused.

<<<<<And yes, they do still seem to be wheeling and dealing! Steve said that they were up to 150ish properties but had recently sold some.>>>>

Did they give any reasons why they were selling some? Cash out some profits now! The positive return was not good enough!

My aim is to buy quality investment properties.

So I start as ve-, then as time progresses they become ve+ and I can then buy more quality properties. My strategy does require one to have some income. Jan Somers is the author of this strategy and I have modified it for my purposes and its worth reading her books.

My criteria is
1. Walking…[Read more]

Did they mention how many deals they are closing nowadays??????

Its important to know. If they are not closing deals nowadays what makes newbies think they can close deals too nowadays.

Dont forget its 2004 and the authors started in 1997 or thereabouts. I wonder what they are upto in 2004. But you need to pay $1000 to find out. I dont believe they are closing many deals nowadays.

It aint going to be easy.

What would I do.

1. Find another job.
2. Once I got a job – go to bank and find out how much I can borrow.
3. Buy a property or two depending on what bank allows. Decide if you want postive geared /rural/ less growth OR negative geared/Surburban, near home/growth property. Me I prefer growth.
ie. Steve Mcknight v Jan Somers. Read a few books…[Read more]

“However … just because you can’t see one on RE.com don’t think they don’t exist. ”

You just need to look harder. Get in the car and speak to agents. Find an area and focus on it. Learn property values and market rent for that area. Burn some boot leather. There will always be opportunities.

I dont have rental insurance on any of my properties. However, I have property managers and they are near home so I can keep an eye on them.

The only rent I have ever lost was between tenants anyway. I did have a tenant who left before the lease term was up, but that was only a month. So 5 years of paying rent insurance still would have…[Read more]

SIS said
“what about that other guy in Sydney, who owns the most property in australia and i think on last count he was on 1200 properties and the most owned properties in qld was by another man who owned just over 900, but i do know there is a guy in America who owns over 5000 properties…..”

Anyone have any details about these people. I would…[Read more]

My advice for what its worth.

1. Use a property manager. You dont need to hear the hard luck stories.
2. Charge $10-15 per week below market rent. Make the property manager, let the tenant know they are getting a price lower than market rent.
3. If they leave you find a tenant close to market rent.
4. I would not go to the hassle of buying new…[Read more]

Can someone explain the IRR – I assume its the internal rate of return.

I failed business finance at uni a couple of times and as an accountant, even I dont understand it nor its relevance.

Any comments appreciated. Otherwise I’ll get off my butt and do some research.

The property is in Frankston, Victoria. The tenant has fleeed to Queensland.

Thats why they have good population growth.

Oh Well – I gave her a chance and had my trust breached.

[satan]

I iam going through a similar situation now. Proceed or not with debt collection agencies.

I did a search and found this.

What was the final outcome. Did you recover any money in the end?

Whats happened to the property?

I dont know – I will research and cross that bridge once I get a judgement at the tribunal.

I understand its something the agents/property managers do. They agents tell me they have already added her to the database.

But I want her to get a credit record black mark, so I need to go to the tribunal and get a judgement against her and then get a credit agency to chase her for the debt.

Its normal practice in the areas I invest for 12 month leases.

Six months is too soon, before you know it, its expired.

Two years is a long time for a tenant to commit so its rare you get someone who is prepared to sign for that period. I once had someone prepared to sign for 2-3 yrs but decided not too. I just thought it was too long a…[Read more]

RTP =

1. Rent to Purchase

2. Really Top People

3. Reality TV person

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