Okay... I'll expand a little...
>More specifically, do I approach all R/E
>Agents in the area or look for catalogues
>or search the net?
All of the above if you want to find good deals.
>Is the best bet 2br or 3br townhouses or
>units, or villas or 3br or 4br houses for
>a balanced portfolio?
>Is it better to go for 2 $120k I/Ps giving
>7+% return or one 240K house.
Depends. Generally, the advice is to spread the risk around with two cheaper properties (that are more affordable to tenants and future buyers). Of course, this depends on your circumstance and strategy.
>Sim', how do you find out about the private
>treaties you mention?
I search the 'net, gather brochures, read the Sat advertiser (my local newsagent gets it in for me each week here in Sydney), and talk to agents and go to open inspections when I am in Adelaide. Oh, I also have a network of friends who sometimes come across properties that they think I might be interested in.
>PS I am inspired by the quotes at the end
> of the posts, keep 'em up Regards Ray
Okay... "Help stamp out and eradicate superfluous redundancy" ;-)
Ray, it sounds as though you are suffering a little from "analysis paralysis"... all these questions you ask are generally answered by a big "IT DEPENDS"... you need to choose your own strategy.
Talk to others (preferably the successful people), find out how they do it, you'll find that the "freestylers" like TW do it all. But work out what appeals to you, and try it !
Just remember that just because it worked for someone else in their location, in their situation, with their experience, at the time they did it, doesn't mean it will work for you.
And if all else fails, just go back and re-read Jan Somers' books... and just follow the instructions !