Cheapest Residential Land in Australia, $65000, and Located near Australia’s Third Largest City.

 by Dominic Alberth

There is a secret hidden in South East Queensland Australia. This secret is called Russell Island. Situated just 20 minutes off the coast of Brisbane (Australia’s Third largest city), and within commuting distance of the Brisbane CBD, is an island paradise.

The biggest secret is that land over here sells for around $65,000. Looking east we have beautiful views of North Stradbroke Island and looking south you can enjoy the magnificent views down Canaipa channel all the way to the Gold Coast.

Now with about 1000 people a week moving to South East Queensland for the weather and relaxed life style it is only a matter of time before this secret is out. Vacant land adjacent to Russell Island but situated on the main land sells for a minimum of $300,000. This means that for the inconvenience of a pleasant 15 minute ride on the water taxi, you could buy land at just a fraction of the mainland price.

The last 12 months have seen some major infrastructure coming to the island. These include:

6. An island police station and police residence.

7. Construction of a new soon to be completed shopping centre which will include a super IGA supermarket and half a dozen specialty shops.

8. Construction of a public swimming pool.

9. A proposed $150 Million resort is in its final approval stages.

10. Plans for a $4 Million hotel was submitted to council.

For simplicity purposes I have listed some of the attributes of Russell Island in point form:

• Situated in the fastest growing region in Australia;

• Land sells for around $65,000;

• 15 minutes from the mainland by water taxi running approx. every 30 minutes all day everyday;

• Water, telephone, electricity available;

• Currently septic but Sewerage implementation proposed by council for the not too distant future;

• Bus connection from water taxi to Brisbane center;

• Proposed bridge to Stradbroke Island via Russell Island;

• Water Views to Stradbroke Island and down to the Gold Coast;

• There is a primary school on the island and access to a high school on the main land;

• Many shops including corner stores, hardware, bottle shop, bowls club, doctor, Service

Station, chemist, library, gym, etc;

• 10 minutes by small boat to the beautiful sandy beaches and open surf of North

Stradbroke Island;

• Population is about 4000;

• Largest of the Southern Morton Bay Islands approximately 11km long.

With housing affordability at crisis point in Australia this is an ideal place for people to enter into the market and choose to build now or hold on for future capital gains. This means that there is no excuse not to enter into the property market.

Resource/About Author of
russellisland.com.au

russellisland.com.au has a wealth of information about Russell Island
including property listings, photo album and an updated local news page.

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7 Steps To A Smooth Home Buying Process

by Joy Fleming

There are 7 essential steps involved in the home ownership process.

1. Find a good Realtor/Buyer’s Agent – Most 1st time home buyers don’t realize that they can hire a Realtor for FREE. So, you have nothing to lose, but everything to gain from hiring a Realtor. As a Buyer’s Agent, the Realtor will look out for your best interests throughout the entire process. You no longer have to be scared. The Realtor will be you with every step of the way to help you find your dream home, negotiate your contract, explain financing options, schedule your inspections, go over your closing documents, etc.

2. Get Pre-Approved for a Mortgage Loan – Your time is very valuable, and Realtors don’t want to waste your time showing you properties that you can’t qualify for. That would cause alot of frustration. So, that’s why getting pre-approved is essential to a smooth home purchase. Most 1st time home buyers don’t realize that they can buy a home with NO MONEY DOWN. There are also down payment assistance programs available where the down payment assistance money does not have to be paid back. Please note that every mortgage company/bank offers different loan programs. There are many different loan programs out there, and the programs do frequently change.

3. Assess Your Wants vs. Needs – Buyers should write down the items that they definitely need in a home vs. the items that they would like to have. Be realistic. Many buyers have unrealistic goals. Every real estate market is different. Your Realtor will be able to tell you what type of home you can expect to get in your price range.

4. Shop for a Home – Based on my previous experience, buyers should try to narrow down their home choices to their top 3-6 homes. If buyers look at too many homes, they begin to get confused, overwhelmed, and frustrated. They can’t remember what one home looked like vs. what another home looked like. I’ve had many, many clients who fell in love with the 1st home they visited. However, they still wanted to look at more homes because they wanted to see what else was out there. But in every instance, the buyer went back and bought the 1st home they saw. The moral of this story is that most buyers know within the 1st few minutes of seeing a home if it’s the right one for them. If you fall in love with a home, you don’t need to keep looking because you will go back and buy the one you love.

Once you’ve found the home that you would like to purchase, your Realtor will handle the following 2 items.

5. Negotiate the Contract

6. Schedule your Home Inspection, Appraisal, Survey

7. The final step is to close on the home. You will have alot of paperwork to sign at the closing. Your Realtor will also be there. Depending upon which state you live in, the closing may be held at an attorney’s office, and the attorney will go over all the documents with you. You will receive your keys at the closing.

Then, all that’s left is to move & celebrate.

I am a licensed NC & SC Real Estate Broker/Realtor. I specialize in representing home buyers. For more free tips and advice (or to search for homes), please visit my website: http://www.NJoyHomeBuying.com

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Cashing in on Repossession Property

by michael sterios

With the number of repossession properties on the rise there are a large number of companies and individuals who have begun invest in properties owned by people in financial distress.

In fact, the sheer volume of home owners looking to stop repossession of their properties due to financial problems has spawned a national trend. Home owners who are heavily in debt and have not been able to keep up with the monthly repayments due on their loans have increasingly been offering their properties up for sale at heavily discounted prices.

The catch is that the buyer must be in a position to take the property off the current owner’s hands in a short space of time. The overall objective is that the seller will receive enough funds from the buyer to clear their loan balances and arrears and stop the repossession process, even if that requires selling the property at a hefty discount.

Savvy property investors have latched on to the notion of being able to secure properties at bargain prices and currently there are more people than ever before offering financially troubled home owners the chance to clear their debts and avoid repossession and eviction.

For many investors, this seems like the perfect way to build up a healthy property portfolio, but what are the risks?

The first and probably biggest risk to consider is that properties offered up for sale by people who have no money are usually in a poor state of repair. This means that although the buyer may receive a large discount on their purchase, they may be required to fork out some money as soon as the purchase is completed to bring the property up to scratch.

It makes perfect sense that a home owner who cannot meet their monthly mortgage payment for at least several months can also not afford to keep their home in a good state of repair.

Another risk factor to consider is that many of the sellers wish to remain in their homes as rent paying tenants. Buyers will need to keep in mind the fact that their tenant may not have any savings at all, and possibly an irregular income, and therefore may not always pay rent on time or in full.

If the tenant does turn out to be less-than-perfect the landlord will be forced to evict them. It is probable that the tenant will not be pleased with this considering the property was once their own home and, despite the fact they may not be paying their rent on time, they may not go quietly.

A final risk factor to consider is that the cost of borrowing has increased in recent years and may continue to do so. Therefore, if the investor is going to finance their purchase with a mortgage, they will need to factor in potential future interest rate rises.

Sell Your Property Fast and Stop Repossession of your home through We Buy Property Fast. Contact us today and avoid repossession.

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As A Landlord, Be Strict With What You Fix

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As a landlord for over 10 years I am always asked by those who have never been a landlord, “Isn`t it a pain in the butt when you get calls in the middle of the night to fix something?” My answer is always no. Because that is the truth, it is never a pain, and in this article I will tell you why.One of the hardest parts about being a landlord is making sure the property is in good condition. In livable condition. In a condition that a local inspector will obviously pass.

You need to know how to separate the items that absolutely have to get fixed immediately and those that can wait because they are detrimental to the tenant or the property. Being able to master this will go a long way to insuring your own piece of mind in this business.

To start, your lease should outline exactly what you will be responsible for fixing. Such items include, if the hot water heater goes, a roof leak, the heater itself, and other items which the tenant has no control over. Now if you can show that the tenant deliberately and/or maliciously ruined an item above, then you can take other action.

Now that you have outlined in your lease which items you will fix, you then need to outline the response time. In most cities and states, there are statutes in place in which landlords must adhere to. In other words if the hot water heater goes, there may be a law in place, in your area, that tells you how long you have to respond before you “get in trouble” so to speak.

Outline the response time and plan of action in the lease as to how you will handle the necessary items. This way the tenant knows exactly what is expected, when it will be completed, and who will be coming over to fix it.

Once you have the necessary repairs outlined you need to handle nuisance repairs. What I mean by that, are, the items that do not have to be addressed immediately. As crazy as it sounds, changing a light bulb is one. I can`t tell you how many calls I received for that. Of course I put in the lease that the tenant is responsible to change their own light bulbs, yet it never stops them from calling.

Other items would be a loose doorknob, carpeting issues and so on. In my lease I have placed in there that any damage caused by the tenant will be paid in full by the tenant. So if I go to the house and determine that the tenant caused it, I fix it and then they get billed for my time and supplies in the next invoice. You must be stern with this. If you give any leniency, trust me they will run with it. Also on a side note, if your invoice is lets say, $1000 and $750 is rent and $250 is for the repairs, yet they only send you $750, you will apply the first $250 to the repairs and the remaining $500 to the rent, leaving them $250 in default of their rent. You will then send them a notice that they are behind on their rent, and that if not paid by a said date, you will begin eviction proceedings.

You need to check your area for the legalities of how the above example must be handled as all areas and laws are different. Since most of my rentals are in New Jersey, I give you examples of what I am able to handle here.

Now lets say the tenant calls about something that needs to be repaired, it truly wasn`t there fault, yet is not an absolute necessity. Simply put into your lease a provision by which the tenant is responsible for the first “x” amount of dollars to all non essential service calls. My lease calls for $50. This means the tenant will pay the first $50 of the service call and I will cover the rest. This helps cut down on those late night, the faucet is dripping calls.

As you can see a lot of the hassle can be handled by outlining it in your lease. Once it is in there it is up to you, as the landlord, to uphold it so the tenant understands what they are responsible for.

By: Michael C. Podlesny

About the Author
Michael C. Podlesny is the owner of Rental Property Repair, LLC. A rental and investment property repair and renovation company that services Mercer & Burlington Counties in New Jersey and Bucks County, Pennsylvania.To inquire about their services you can visit them online at http://www.RentalPropertyRepairLLC.com.

How To Dispose Of Tenant`s Belongings The Right Way

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We all dislike clutter. It gives a sense of an area being a mess, disorganized and dirty. As a landlord for more than 10 years, nothing drives me crazier then after a tenant moves out, whether on their own or by eviction, then when they leave a mess behind.What might look like garbage and worthless stuff to you, are the tenant’s belongings. For that reason you must protect yourself and follow the law when it comes to getting rid of what is left behind.You need only sit in on one television session of Judge Judy and see how amazing it is that the same items a tenant left behind are worth thousands of dollars when they come back to get it and find out you threw it away.

For that reason, and the sake of avoiding the headache of going to court, protect yourself. There are laws set up in most states for both landlords and tenants. These laws are put into place to avoid situations such as the one I described above.

Although I personally have owned rentals in 4 different states, I am more experienced in New Jersey, so I can speak from that vantage point. In the state of New Jersey, the last time I checked, the tenant has 30 days to retrieve any items they left behind. However with that said, it is not 30 days from the day they move out, it is 30 days from the date you file the paperwork that the tenant moved out.

In Trenton, NJ where I have owned a number of rentals, you need to fill out a form that shows the date the tenant moved out, and list any items they may have left behind. It is in your best interest as a landlord to file this paperwork. Also, it is a good time to take pictures of the items, although that is for your benefit and does not have to be filed with the paperwork.

Failure to file this paper leaves you open for a tenant to come back and make outlandish claims as to what they left behind. You’d be surprised as to how many tenants leave behind plasma TVs and Rolex watches. Do not leave yourself open to a headache that can be avoided with a little more than a half an hour of your time.

In Trenton, once the 30 days has lapsed, you can basically do whatever you want with it. I normally donate it to charity, and that is the God’s honest truth. If I kept all the stuff left behind by tenants, I would have no room in my own house. I know some landlords sell things on eBay, etc, but I just don’t have the time for that. You’ll have to check to see what your area allows and then decide what is right for you.

If you haven’t experienced a tenant leaving things behind yet as a landlord, eventually you will. When it happens you want to make sure you do things the right way to avoid any headaches that might arise. The best place to start is to contact your local housing director, city housing authority or city housing inspection department and get an exact law as to how your area handles it. If those departments do not have the answer, contact the court office that handles evictions in your area, they are sure to have the answer as well.

Most importantly, do it the right way, with the right paperwork, and you are to avoid any problems. The fewer headaches you have as a landlord, the more success you will have.

By: Michael C. Podlesny

About the Author
Michael C. Podlesny is the owner of Rental Property Repair, LLC. A rental and investment property repair and renovation company that services Mercer & Burlington Counties in New Jersey and Bucks County, Pennsylvania.To inquire about their services you can visit them online at http://www.RentalPropertyRepairLLC.com.

As A Landlord Is This Type Of Lease Right For You?

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If you are a novice landlord or even have some seasoning under your belt, I am sure at some point you either have or will ponder the question as to whether or not to use a month to month lease.

As a landlord with over 10 years experience, I can tell you what I think is best in the areas where I have owned property. The ultimate decision will come down to what you feel comfortable with and more importantly the area in which you own rentals.

Keep in mind 99% of the rental properties that I have own are in the central New Jersey area, so laws may be different where you live. You should always confer with an attorney who is an expert on this matter before you make any decisions.

A month to month lease is basically what it sounds like. The tenant signs your agreement based on the knowledge that as each month passes by, they will need to resign a new lease, or adhere to an agreement already signed that says their tenancy is only valid for a month at a time.

I personally do not like month to month leases. They are time consuming, and in the areas where I rent, are a big turn off to good tenants. Someone who is stable, with a good job, family, etc., and that is looking for a nice place to settle down, does not want the stress of a month to month lease, giving the landlord the “power” to move them out at the end of any month or constantly increase their rent.

On the other hand, if you are in an area where good tenants are as common as hitting the lottery, then a month to month can be your best friend. It adds a bit of pressure to the tenant living there. The tenant knows that the lease expires at the end of each month and if the landlord chooses to, does not have to allow you to remain. It is a good way of, without directly saying it to the tenant, ‘you better be on your best behavior and more importantly pay the rent on time.’ Ok maybe not that stringent, but you get the point.

The reason I do not like month to month leases is that the eviction process in my area is still the same as if I had the tenant signed to lets say a one year lease. Also, because of rent control, having a month to month lease does not necessarily allow me to raise the rent more than a certain percentage from what the original amount was.

If the rental market is competitive in your area where you have an abundance of tenants and tenants understand that a month to month lease could mean more rent each month, then I say go for it.

However, on the opposite side of that, if the tenant has a lot of choices and you only sign them to a month to month agreement, they could jump ship at the end of the month to another place, and you still have to give them their security deposit back etc. Now, because the tenant jumped ship, you have to go through the entire process of finding a tenant, all over again.

The area in which you own and rent out will basically dictate whether a month to month lease is a good choice. Best place to start is your local real estate investment club, or local property managers. They have a lot of knowledge on your area and what you can and should do.

By: Michael C. Podlesny

About the Author
Michael C. Podlesny is the owner of Rental Property Repair, LLC. A rental and investment property repair and renovation company that services Mercer & Burlington Counties in New Jersey and Bucks County, Pennsylvania.

To inquire about their services you can visit them online at http://www.RentalPropertyRepairLLC.com.

Use These Techniques To Find Good Tenants For Your Rental Properties

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As a landlord for over the last 10 years I can tell you I had my share of good tenants and share of some bad tenants, as do all landlords.

Today I want to share with you some ideas and techniques that I use to at least limit the possibility of a bad tenant.  In my experience I have encountered on a few occasions where no matter how much time and effort you put in, you just can`t predict the future, and because you can`t you won`t be able to for-see your tenant lose their job resulting in you not getting your rent.  Will get to more on that in a moment.

As landlords we use a variety of documents and information obtained from the potential renters application, which brings us to step one, a complete application.

A red light of caution should immediately go off in your head if you get back an incomplete application.  What is considered incomplete?  The person`s job history should go back at least 5 years.  Some say 2, but I require 5.  I want to see what they have been up to.  Do they jump around from job to job?  Or are they stable?  Is the industry they are working in stable?  In other words, are they busy today only to get laid off tomorrow.  Get up to 5 years work history. Obviously if you are looking at a section 8 tenant you might not get that, but we`ll talk about section 8 tenants later.

Look for personal and professional references.  Three of each is what should be the minimum, although the application that I use (which I customized), has space for 5 each.  it is rare that I get 5, but 90% of the time I will get 3 or 4.

Make sure your application calls for what there current bills are.  Do they have a car payment? Alimony or child support (although some states do not allow you to ask this)?  As you can see you have to deduct these costs from their income to see whether or not they can afford the property.

Find out why they are leaving their current place.  Obtain the contact information for the landlord where they live. 

Now that you have all that information, start placing some phone calls.  Call the jobs, the references and the previous landlord.  Find out what kind of person they are.  Keep in mind many states do not allow you to ask personal questions, nor can references tell you that someone is a bad tenant, employee or person.  What you are trying to find out is are they reliable.  Did they show up to work on time?  Is it a person that a personal reference can count on?  Is the previous landlord sad to see them move out?  That type of information.

Notice I did not mention anything about the credit report.  If you, like me, rent in an area, where you have a better chance of hitting the lottery then seeing someone with a halfway decent credit report, then you know the credit report is basically worthless.  I would only use a credit report if my choices come down to more than one person or family.  Then I would take the best of the bunch.

Armed with all the information above, you should have no problem finding quality tenants and keeping them for a very long time.  Remember, the more time and effort you put in prior to moving someone in, the less headaches (and court appearances) you will have later.

By: Michael C. Podlesny

About the Author
Michael C. Podlesny is the owner of Rental Property Repair, LLC. A rental and investment property repair and renovation company that services Mercer & Burlington Counties in New Jersey and Bucks County, Pennsylvania.

To inquire about their services you can visit them online at http://www.RentalPropertyRepairLLC.com.