Hello everyone,
I’ve been looking for my very first positive cashflow investment property but I’m unsure which is better:
1. A serviced apartment (Brisbane/Melbourne)
2. An apartment where they guarantee monthly rent (in writing) in Melbourne
3. A house with a tenant on a one-year leaseAs part of my due diligence, what should I be aware of? Are there pros and cons between the 3 in terms of cashflow? Any thoughts from experienced investors would be appreciated.
Many thanks.
NewStart
Hello,
I am very exited for you and it’s great that you are getting started.
Every deal is individual so there is no telling which one is the better without having crunched all the numbers. If you don’t know how to do that don’t worry, Steve has got a lot of available resourses that are fairly cheap considering how much money they may save you or make you.
The first one is tough because everything is new but just to give you some advice that I give myself daily is Don’t be discouraged and don’t give up regardless. Fortune comes to those who are willing to do what others are not.
Go for it and please don’t stop even if it seems impossible to find good deals, it gets easier.
All the best
jb
Nice edition of Insider as usual.
Steve I was just wondering about what you said here in response to Newstarts post
“……paying top dollar for a risk that can be addressed in a more cost-effective way (for example, using rental insurance).”
When you say “rental insurance” do you mean normal landlords insurance to cover the tenant trashing the place etc.
Also,
Do you take out landlords insurance as a rule on all of your properties? I have been doing that, and have not even thought twice about it.
Cheers,
MarkyMark
You must be logged in to reply to this topic. If you don't have an account, you can register here.
