Home' API Magazine : February 2014 Contents 81
API FEBRUARY 2014
FEBRUARY 2014 API
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Published: November 2013
¿ YOUR SEARCH PROCESS
QYou mentioned in your story that you’ve
tracked down your renovator properties
with the help of specific search alerts on
realestate.com .au . How do these work and
what do you search for? Also, how do you
find former housing commission properties?
ABoth the realestate.com.au and
domain.com.au websites have search
alert options, where if a new property
is listed that meets your criteria they’ll
email you about it. It’s a great way to keep
on top of potential deals that suit your
strategy, whatever it might be.
You can put in specific alerts for a
particular area and properties within a
price range, land size, dwelling type,
number of bedrooms, any keywords that
you might have and so on.
It’s pretty easy, although it’s not perfect
and sometimes the odd one does slip
through the net. This is especially the
case if your keywords aren’t common
and an agent uses a different phrase to
describe the same thing.
On the topic of finding former housing
commission properties, it’s a bit easy
once you know what to look for. When you
get to know an area, you figure out where
all the housing commission places are.
They tend to look very similar or have
the same sort of characteristics. Once you
identify them, it’s a matter of waiting for
them to come on the market.
Also, chat to sales agents or property
managers – they’ll know if a property is
housing commission or not.
There are some good opportunities with
these types of properties, but beware –
the rental price and resale demand can
be much lower. I have one that has been
vacant for nearly two months now.
¿ TRAVELLING FOR RENOS
QWhen you go to different areas to do
a renovation, where do you stay? Also,
how do you manage to buy two properties
at the same time on such a low salary?
AI tried sleeping in a property that I
was renovating once. I wouldn’t do
that again unless I absolutely had to. I
slept on a bench that was rock hard and
These days, if I’m travelling to do a
reno, I’ll sleep in a cheap motel. It’s worth
sleeping somewhere comfortable rather
than camping onsite.
On buying more than one property at
a time, if your finances are sorted and
structured, and you’ve got a deposit
available, you should be able to do it.
I recently purchased three properties in
three different states in the space of three
days. Obviously the deposits weren’t easy
to scrape together, but I managed.
BUILD PROPERTY WEALTH
Published: December 2013
¿ ADVICE FOR RECENT ARRIVALS
QWhat’s your best advice for other
recent immigrants to Australia to crack
into the property market?
AThe best way to get a solid start in
property is to buy objectively and not
emotionally. It’s tough, especially when
buying your first property, but one needs
to park emotions aside and buy with
proper planning for the future.
The best way to get started is to buy
even a small unit near all of the required
and desired amenities. It’ll be affordable
compared to a house. You need to work
hard, but you also need to think smart!
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