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Aceyducey
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@aceyducey
Join Date: 2003
Post Count: 651
July 28, 2004 - 2:14 pm
Swinys,
Dale Gatherum-Goss
http://www.gatherumgoss.com
You’ll find him referenced quite widely here & in other property investment forums.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 28, 2004 - 11:28 am
Interest rates up – not likely
Full CPI details are here: http://www.abs.gov.au/Ausstats/[email protected]/0/938da570a34a8edaca2568a900139350?OpenDocument
A good paper about interest rates & how they’re unlikely to move for awhile here: http://download.hsbc.com.au/markets/anzweekly/oz040726.pdf
It also talks about how we’ve actually already had the soft landing for property….I guess the doomsayers should put their placards away for a few months.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 28, 2004 - 3:21 am
It’s impossible for ‘the cost of construction, renovation, extensions etc’ to become prohibitive.
Because people wouldn’t do them….tradies would start starving & be forced to reduce their rates.
When wages for tradies get high enough, people will stop targetting the unis & go for the trades….leading to lots of tradies, falling wages & a reversal of this trend.
Labour is an economic market based on supply & demand and the quality of the ‘product’ – just like all other markets.
Cheers,
Aceyducey
PS: Having a uni degree doesn’t prevent someone from retraining!
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 27, 2004 - 11:21 pm
Metropole’s newsletter is worth a read (www.metropole.com.au)
The Property Insider from Quartile Research (www.quartile.com.au) is OK.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 26, 2004 - 11:58 pm
Just move it to the fiction shelves.
So long as it’s a good read & the author is honest about the truthfulness it shouldn’t matter whether it’s fictional or not.
Frankly she might get higher sales by fessing it’s all made up anyway
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 26, 2004 - 7:53 am
Originally posted by Myydral:
I agree with Monopoly. I do like to hear stories of people meeting etc, but I would like to hear an in depth “review,” so to speak of the actual day.
Would you go again? etc
Myydral,
I’m not entirely sure this is the right place for such an objective discussion.
Regardless of how open these forums are for people to express their mind (and I feel that the owners & moderators are very open), many people would feel somewhat uncomfortable making any critical statements about Steve’s seminar in Steve’s forum.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 26, 2004 - 7:10 am
Rouquin,
Could you promote those events on Somersoft as well (http://www.somersoft.com/forums/). There’s a large community of Cashflow fans there as well.
They got 30 to Saturday’s cashflow game in Sydney.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 26, 2004 - 6:37 am
Fnomna,
I recommend you be vary careful about pursuing an auction strategy in the current market.
Auctions work best when the property is unique or distinctive in some way and there are a number of people interesting in buying the property.
You really want to avoid paying good money to hold an auction & having no bidders.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 26, 2004 - 12:54 am
Damien,
There are hundreds of different strategies & as you read more about the topic you’ll encounter a lot of them.
It’s not a cut & dried list that you can simply pick from it’s a process whereby you explore different strategies until you find the one that suits you.
I know people who specialise in wraps, flips, renos, options, developments, OTPs, combos of these and other approaches as well. Just keep reading & you’ll learn more.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 26, 2004 - 12:45 am
Hector,
It’s good you are researching this area as some people I know tried to go into it with a belief that students were simply standard renters with less money….and got burnt quite badly. It’s dangerous to make this type of assumption!!!!
Some points to bear in mind:
– There are good and bad times to have your property available for rental to students. As students tend to all start uni at the same time you need to have the property ready for tenancy at this time or you run a higher risk of ending up vacant for a semester, or even an entire year. There is literally a two week or so rush for accomodation at the start of the scholastic year.
– Many students rent for the uni ‘year’ and then end their rental & go home for a month or two. So be prepared to weather a higher vacancy rate than with standard rentals.
– Try to locate a property that is just as attractive to non-students as it is to students. This reduces your risk of higher vacancies or issues should other providers build more atttractive specialised student accomodation nearby.
– Students generally prefer not to live alone. One bedroom units are less attractive to many students than 2+ bedroom units…and generally cost them more as well (it’s cheaper to share rent & food expenses).
– There is often a shortage of low-cost student accomodation…and many unis & other tertiary education institutions have rental officers or departments who assist students in locating appropriate accomodations – make sure you speak with these people so that they can refer student renters to you!
– If you want to do REALLY well out of student rentals, look for creaive solutions…..ways you can rent by the room, partially furnish for overseas students (desk, bed, drawers, etc) or otherwise create a more student friendly space.
– Students are more likely to make properties wear hard. This isn’t saying they’re any more destructive than other tenants, but wear and tear on a property can be significantly higher. Make sure you fit out properties with hard wearing carpets & fixtures.
For more comments on the topic from people who’ve done it, visit http://www.somersoft.com/forums/showthread.php?t=9549&highlight=Student+Accomodation
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 25, 2004 - 1:59 pm
Vicgirl,
Talk to a good mortgage broker. Lo-doc loans may be an answer for you.
We’re in a similar situation – income from rents, share portfolio returns & a couple of businesses we own.
Even though one of our businesses is 9 years old, lo-docs are the most effective way for us to borrow mortgage funds.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 25, 2004 - 1:43 pm
Glenn, it was good to meet you – particularly considering how far you travelled to make it
There’s a ‘debreif’ about how the day went (20 people or so) over in Somersoft for anyone interested.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 25, 2004 - 1:40 pm
Pepper,
It’s possible using a house, a unit or a both strategy.
There are some differences you need to keep in mind.
They can’t build more houses in most good locations – the land’s already in use.
They can always build more units….by knocking down houses.
Land appreciates over time….there’s no cost-effective way to create new land in prime locations. Whereas dwellings depreciate – it’s always possible to knock down & build more dwellings.
Thus for the most part, houses tend to provide better capital appreciation than units…I’m not certain on average which option, houses or units, provide a better cashflow, however in our own experience our units tend to provide a better cashflow – but that’s also due to location.
So if your strategy is based on capital appreciation, houses may be a better option. If you’re seeking cashflow or are starting with lower loan amounts, units might work better for you.
BUT, do your research, every area is different & you may find that a different paradigm applies in your target areas.
And be careful who you listen to – how successful have your friends been?
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 24, 2004 - 4:24 pm
1) Decide on your investment goals.
Then per the order submitted by other posters….with the following added every five items:
Check that you are aware of and still aiming towards your investment goals.
The only thing worse than missing a great deal is getting a great deal that takes you further away from your investment goals!
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 24, 2004 - 4:19 pm
Talk to the Vendor Finance Association.
http://www.financewraps.asn.au
BTW, South Australia is the least favourable jurisdiction in Australia for vendor finance-style deals. So be particularly careful to understand the legal requirements.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 24, 2004 - 4:17 pm
Originally posted by Julian:
I think everyone busy as well! me too. Coud anyone give me some good wealth ideas? Please! Please!
Make the time to invest in your future success.
Read a copy of First Things First by Stephen Covey.
At the end of the day your future is in your hands. If you cannot learn to manage your time such that you’re investing some of it in your future, you don’t really have one.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 24, 2004 - 9:42 am
I don’t see any indication that they have a financial license to provide financial advise (required on their site if they’re a licensed financial advice provider…aka financial planner)
I see no certification on their training programs for franchisees (not strictly required but provides security that their training has been reviewed, is transferable and recognised in the industry).
It appears they are looking to make money on franchisees rather than by providing a service.
Frankly I reckon you should run a mile.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 24, 2004 - 1:19 am
As everyone else has said – offer the low price, but some kind of sweetener such as the short settlement, or release the deposit to them.
Remember the price you pay is the market price, if they accept it the price cannot by definition be ‘ridiculously low’
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 24, 2004 - 1:17 am
At the same time a lot of local councils up & down the coast are setting up a study to look into the long-term effects of the seachange movement…..
Local councils claim that State & Federal governments are not adequately figuring in this population movement into their budget allocations & infrastructure planning
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut
Aceyducey
Participant
@aceyducey
Join Date: 2003
Post Count: 651
July 24, 2004 - 1:14 am
Yes SIS,
The next one in Sydney is today (24th) also.
It’s been advertised in Somersoft for over a month (http://www.somersoft.com/forums/showthread.php?t=16298)
It pays a LOT to be a member of different forums.
Cheers,
Aceyducey
In theory, there is no difference between theory and practice. But, in practice, there is.
– Jan L.A. van de Snepscheut