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I'd like to know how you manage yours! I've asked for weekly updates and face to face dialogue (which I get) on what to do if things aren't moving. We've reduced the price twice and maybe it needs another reduction but I always have to prod and poke. I've always taken the advice of the...

Yup reduced it 2 times. The property is the cheapest renovated property compared to others in the area. $250 for a renovated 2 bedroom asking for too much?

I've had a recently renovated property up for rent and its been advertised for 3 months with my current PM - they haven't been up to scratch. Thinking of changing to someone who will do a better job and I've sent an enquiry to Abel and might be trying a few more. Such a pain in the...

I just noticed Dawes First National renamed their company to First National Real Estate - Baycity. Wonder why they changed names? Maybe Shane Dawes has sold his stake of the business.

I'm with Dawes First National at the moment. In the span of 6 months I've had 3 different property managers. They have staff turning over quite constantly and it worries me that their property management department might be in a bit of strife. However they are so far so good and i'm in the...

Well I gave my accountant feedback and she's treating it as a LOC/loan. She's got no idea what an offset account is. She's really not interested in what I have to say. But that's ok, I'm used to older people ignoring me. I'll find someone else who knows =(. Time for a new accountant. edit...

thanks for your replies guys, before I ditch my current accountant and goto one that knows, I'd like some info I can show my current accountant so at least she gets the feedback that she's doing something wrong. Is there any page on the Taxation laws page that clarifies this? I looked at the...

Hi folks, I just saw my accountant today and she told me the exact same thing!!! She said not to put anymore money in the offset as she reckons this will affect whether my interest can or can't be deducted. I'm in a similar situation, I have a IO loan and an offset account where I park my...

I pay 5.5% but mainly because my PM was incompetent and couldn't handle a situation with a tenant. In a few months when the exclusive lease ends, I'm happy to pay 6% or more and take my business elsewhere.

LOL, you've got it wrong Sunfish. Last time I checked, lots of ladies still like to buy shoes, mobile phones, diamonds, clothes. I've even seen quite a larger number of ladies on the road with flash cars these days too. Both sexes are guilty of massaging the ego over the ages. Having...

I have found a solution to quell this desire, given my aim is to keep buying IP's and my cosy home in a decent suburb. a) Go Karts - I can't got fast in the Monaro, because when I drive to work, the fastest i can go is 70km/h. b) Rent a Monaro for a weekend for approx ~$500 at least once...

I'm not in a position to buy a $35-40k car, hence I'm still dreaming. Now that I have my 1st IP, the next few years will be dedicated into reducing the interest to a level where I'm comfortable and start the hunt for my PPOR. When i get my PPOR, I'll be aiming to pay it off or turn it into a...

Thanks for the responses guys, my intentions are not to even buy a Monaro anytime soon. I've got too many investment loans to service =(. I'd prefer to be financially free in a shorter period of time and buying the car will only delay this. I'd just wanted to get an idea if anyone stopped...

Hi all, I've never owned a car. Relied heavily on public transport, mum and dad's old car (for 3 years) and the bicycle. But unfortunately, being the young gen y male, I love my cars and want to be able to attain what I want which is a V2/VZ Holden Monaro (currently varies $30k-45k depending...

Hi folks, I'm just researching insurance for my IP and was wondering what would be the best way to approach it. I'm after building and tenant insurance basically. I have received quotes for AAMI and RACV, but haven't gone any further than that. I've found their quotes to be quite...

If you're looking at someone to provide advice, that is handy and would complement your own due diligence as well. I cannot stress this enough. I nearly made a few stupid investment mistakes by getting too excited with my first investment property. Picking suburbs and property type (unit...

Great suggestions folks, I sincerely appreciate the assistance. Everything I'm doing is a first time for me at the moment and I'd like to get it to the stage where a tenant is in, is happy and all is set. So far I have asked my property manager to arrange some time to inspect the house...

Thanks for the replies. With restumping, even though the building inspection shows that they are rotting its ok to keep them like this for the next 10 years? I might have to call my building inspector and confirm this again. My folks feel that putting new carpet is a waste as the tenants...

Camo, I nearly made the mistake of buying my first investment property via Castran Gilbert off the plan. Most developments are generally over priced by 20-30% compared to similar types of properties in the market. If you've done your due diligence, you'll find you could get much better value...

Hi all, I've just purchased my first IP and am at the unconditional stage on a 2 bedroom 1 bathroom 60 year old weather board house and will be receiving it as vacant possession on the final date of settlement. This has provided me a window of opportunity to take 2 weeks off work to...