Why start with a house at $880k in Malvern, why not start in Oakleigh at $350k. Buy an investment property, then work towards the $800k Malvern place. It may take 5-10 yrs but at least you are not renting.

Heuy

Just another thing. If Spotters reckon the properties are any good and offer great positive cash flow surely they would move heaven and earth to buy or keep them for themselves.

I cannot see why you would be prepared to buy these types of properties without doing a little work yourself. What is wrong with properties in your area. Do you…[Read more]

I am not a spotter and I cannot understand why someone is prepared to invest $1m in property via a spotter.

You have more money than sense.

Have you allowed for all the maintenance required on 10 properties. If you dont have time to locate them, how can you find the time to maintain them.

Good Luck

Ya gotta pay for quality.

Anyone else interested? [^]

<<how many of you are out there ?>>
Dont know but I can find a property for you.

<<<what areas are researched and how ?>>>>
Outer sth surburbs of Melb eg. Peninsula, Frankston.

<<<do you invest in your researched areas ?>>>
Yes. But bank wont lend any more.

<<<what condition are the properties ?>>>>
Depends on price your prepared to…[Read more]

<<<And the other was more experienced and ALOT more aggressive and forward. Straight to the point. Maybe a little too intimidating though. Any thoughts on this?>>>>

Go with the more experienced agressive one. You want a tough but fair property manager, especially dealing with tenants. The more experienced ones know a good tenant from a bad…[Read more]

Based on my experience to date – they are all the bloody same.

You need to manage them and watch what they do. I had a rental that took 6-8 weeks to find a tenant. I rewrote the add myself and we got a tenant that week.
In metro Melb I pay 5% if I have two properties with them and in the past 7% if only the one. Dont forget its plus GST ie.…[Read more]

We should be glad that the govt floated the $A dollar and not pegged our currenncy to the USD like argentina did.

Do you recall what happened in Argentina recently?

And I thought I might get one with my comment about New Zealand.

But not this time. I did however, while living in London live with 6 kiwis and a chick from Sydney.

It was a party house and they all came from the sth of the Sth island. However, I have not yet made it down there.

You could always sell the IP and move the equity into your PPOR. Buy another IP in the area and this time borrow 105%. That way you have less of a loan on your PPOR and more tax deductible debt.

I am not into skiing – so I dont care.

Hi

I started putting aside money for the kids education into managed funds.

I stopped doing it. Fortunately I also bought a few investment properties and they have doubled in 4 years. So if the kids decide to go to Uni I can use the proceeds of one of these properties for their education. I am even going to cash in the funds and use that for…[Read more]

Westan

I saw a property today that excited me for around $70k.

About a 2-3 hr drive from Melbourne. It would have been a great holiday house. Not far from the hills for skiing and not too far from the lakes for summer.

But missed it by a day. Not sure if its bait advertising though.

See, I am starting to look out of Melbourne.

Westan

<<<<by the way have you ever been outside of Melbourne ??>>>>

Yep – I’ve been to Ballarat a few times. We have done Bendigo before. Been to the peninsula. Even went to Mansfield and Bright once.

This weekend should be special, we are taking a few dyas off at the end of the week and we are off to Eucha for the long weekend. (I cant…[Read more]

Guilt – yeah dont you hate that feeling.

I increased the rent on a great tenant by $5 a week the other day. At the last body corporate meeting everyone was telling me what a great person she was etc looking after her two kids on her own etc.

I actually feel guilty ringing the property manager to see how she reacted to the rental…[Read more]

Me I prefer growth properties. Therefore I dont look at regional centres. However as my portfolio grows then I will look for more positive geared properties at the expense of capital growth.

GWF – Gas Wall Furnace.

Thats my guess.

I prefer option 3.

I also think if you wish to keep Peach as a long term sponsor then surely property related functionality would be best as its in their interest to attract property investors.

Just my 2 cents worth.

Unchanged – but I got it wrong last month.