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Getting Started With Rental Property Investment

Aug 25, 2020

Buying a rental property means that you will own a home for a while, potentially forever... if you plan to leave it for you kids as an income mechanism.  So to get yourself ready to buy your first rental property here are some steps to get your there.

1. Check out your credit score

It is a good idea to always be up to date about what your credit score is whether you are looking to a buy a property or not.  But it is especially important for bond applications that you have a high score and a clean record. It takes so much time and effort and negotiations to find the right rental property that you really don’t want to get to the end of the process just to find out that there is some surprise waiting for you on your credit record (that might be completely wrong) and could cost you losing the property and with it all your hard work and dreams of starting a rental property portfolio.  

If your score is low, don’t despair there are also some basic things you can...

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4 things to analyse before you buy your first investment property

Aug 18, 2020

I think I enjoy scouting and hunting for a new deal even more now that I did when I started with property investment.  I like to tell myself that it is just because I now have more experience working with agents and doing numbers in my head so less pressure when I’m out there, but secretly I just love looking at houses and finding the diamond where everyone else is seeing a mess….That moment you when it hits you (normally as a very stinky smell straight in the nose) and you realise that this is the real deal, is just like no other feeling on this planet!

However when I just started this process caused me lots of sleepless nights and stress over mulling over the questions floating in my head…. Is it really as good as I think it is? Is it really a great buy? Will it give me the profits I need in the time frame I need it in? What if I don’t get tenants? What if I can’t sell the property for the money I put into it? What if what if…. And so it...

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Rent-to-rent strategy (step-by-step)

Aug 11, 2020

When I started my property investment journey the only thing I knew how to do was to buy a property and rent it out.  So you can imagine how my mind was absolutely blown the first time I listened to a very inspiration property investor explaining how he lived in his house for free (he was renting) by subletting this house to other people on airBnB….

I literally hung on his every word and have been following him around ever since.

Even though I had all the evidence of this strategy working for him, it never occurred that I could do it as well.  Surely he had some magical negotiation skills that I could never copy and definitely he must have a secret network of people that would connect him with owners that would allow you to do this….

And that was my belief until recently. 

Whilst looking urgently for accommodation for some of my overflow students (I was never going to be able to buy and furnish a property in the timeline required) I started discussions...

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Understanding property investment strategies for beginners

Aug 04, 2020

When I started in property I didn’t care about a strategy… I thought there were only flipping and renting and even if I knew anything different, I wouldn’t have cared.  My sole aim was to make money. Lots of it. As fast as I could.  What I didn’t realise at the time was exactly how much time I was wasting and the potential risk I was taking by NOT caring.  It took me 3 months before I made my first offer.  And I got it wrong. Dead wrong. So wrong that a 6 month project turned into 3 years and counting.

The first three months had me going from property to property looking for something.  I looked at flips, rentals, multifamily renting, student accommodation, developments and so on.  My coach at the time told me that my energy is admirable but my focus needed attention.  I didn’t listen and ended up buying a property that required a fairly big development to be done.  I was going to sell the units and take that...

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5 banks and what they pay you for your savings

Jul 28, 2020

My single friend of 29 years is a first-time homeowner and has been paying off her bond diligently for nearly 21 months, unfortunately for her, her now disposable income is a lot less than what she was used to (BUMMER!!). 

Yes, owning a home is sometimes a shock on the bank account for newbies that did not anticipate the extra costs like rates and taxes, levies etc.  The good news though is that her property value is going up and the loan amount is going down and after some time her suffering (of not being able to go for everyday sun downers at fancy cocktail bars!!) will be over…

She did however notice something to make her smile… with the bank interest rates coming down numerous times this year, she all of a sudden had more money than usual left over in her account each month.  Although now, of course, all the fancy cocktail bars are closed and she has to look for a spouse online instead. 

With all this free unexpected cash and a small bonus from...

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I HATE to negotiate!

Jul 12, 2020

I hate conflict.  In fact I hate it so much that I have made it a habit over the years to avoid it every chance I get.   You see, I can’t think fast under pressure, I can’t hit back with a clever comment in the heat of the moment.  So I end up getting psychologically bruised, battered and embarrassed whenever I am in that situation.  I always beat myself up you see, when after the altercation, I come up with a million brilliant, clever, and generally awesome comebacks that would have caused immediate silence and admiration for my wit and sharp word skills…  

I have always equated negotiations to conflict and have been ripped off many times due to my avoidance of the subject. I happily paid more just to get away as fast as I could.

Fancy me then one day starting a business whose success is greatly dependent on negotiations!  I started a property investment business.

In my ignorance I never realized that negotiations is a part...

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5 ways to retrain your brain to be your own boss

Jul 02, 2020

Here’s to the side hustler. The person making sure that bread is buttered on both sides. To the woman or the man successfully living in 2 realities, I salute you! You are amazing.  You are a unicorn.  You are freak in the corporate world.

No one else would understand just how difficult it is to live in two minds.  By day to live in the mind of a corporate employee and at night in the mind of boundless opportunity and promise of an entrepreneur.

How do you keep sane when you sit at work listening to people complaining about their boss, the way their salaries can’t keep up with everyday expenses, whilst full knowing that the same person will go home tonight and sit in front of the TV for 6 hours straight, not lifting a finger to better themselves?    

I was there, I was that person.  And I was happy.  Which is why I believe the transition for me was even more difficult than for most people.  21 years in an office, 21 years...

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3 tools to take the fear out of investing

Jul 02, 2020

Fear of missing out, fear of failure, fear of looking like an idiot.  I have experienced them all.  I still do, every single day. 

My fear of missing out is a particularly bad one for me. Over time it has improved slightly, I don’t HAVE to go out partying until 6am in the morning anymore, but I now obsess over missing out on a good property deal, or a business opportunity or anything really where I can show my old corporate self, that I really can make money for myself.

But in the early days of starting out in property, my biggest fear was telling an estate agent what my budget was.  You see, I had no idea what I was even looking for, how much money I wanted to make from the property so never mind even trying to explain to a stranger how much I am willing to pay for it.  So I dreaded picking up the phone to talk to an agent.  What if they won’t take me seriously, or worse what if they DO take me seriously…. They will realise I am a...

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