As long as you have deposits and the properties are above 12% gross yeild (roughly) you should be able to borrow infinitely (in theory). Before you get there though the bank will more than likely say you are to rent reliant and then you go to another bank. At your end of the scale it is good to hook up with a good mortgage broker so when you grow…[Read more]

Hey Del,
I usually pay cash for costs and use LOC for loans. I have also sold down a few properties to free myself up for some more deals with higher returns. The velocity of money is the key for me.

Enjoy
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(Andrew)

“Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be…[Read more]

Hey Richo.
I am still buying at the moment. Talking with an agent at present about another handful.

It is getting harder as wilandel said but the deals are out there you just gotta think outside the box (but you know this). I know there will be a time where I may slow down some but at present I am having too much fun on the…[Read more]

Go the lions….Kick the pussycats butt this weekend……

As to investing Good call on the silence Westan.
I also don’t say much not for any secret reasons but I don’t ever want to feel that I have lead anyone into an area that I am comfortable with but might not be good for them. People have to learn and find for themselves as the journey is as…[Read more]

Hey arglyle,
What is the aim of buying this property ? I affirm what my aim is before I buy a property to make it clear in my head and to make sure the numbers work for whatever I have in mind.

What is your aim for this one and what is your overall goal in investing ?

Enjoy
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(Andrew)

“Character cannot be developed in ease and quiet.…[Read more]

Hey all.
Brian don’t be to disheartened as Steve and Dave’s mix is not a majority of Wraps, rather of buy and holds.

It is an interesting discusion though and I just couldn’t hold back. Haven’t been on much lately as I have been busy but this one caught my eye.

As I was reading I was thinking that the numbers and the structure are somewhat…[Read more]

Good call Aussie Rogue.

Done..

Enjoy
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(Andrew)

“Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired, and success achieved.”

I always think that a mistake only occurs when you repeat something you have already learned to be incorrect. The first go I call a lesson in life. If you don’t learn from these lessons then it is a mistake.
The upside is we all have the lessons regularly. That is what makes us stronger and wiser ….(hopefully).

Enjoy
AD…[Read more]

I like your way of thinking here Westan. Good points made. All I can say is ditto.

Enjoy
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(Andrew)

“Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired, and success achieved.”

Blue,
Don’t just limit yourself to Brisbane people. I use a broker in melbourne and have found that more than amicable. Guys on the site like Stuart seem very knowledgable. Dig through posts to see who appears. If these guys are involved in this sort of community it goes a along way toward their helpfulness.

Enjoy
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Hey Argyle,
I usually just use google and type the towns name in and see hwat it brings me. Apart from that the local council is often a good source or the Bureau of Stats may also help.

Enjoy
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(Andrew)

“Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened,…[Read more]

Right back at you Dave.

Enjoy
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(Andrew)

“Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired, and success achieved.”

Hey Ben.
Hope you don’t mnid but I will jump in here as Steve is very busy (as you might guess).
Yes you can use your property as a “deposit bank” to purchase other properties. Two way to do it.

1. LOC – use available equity and draw down as much as is needed per buy.

2. Cross-collateralise. If you don’t know what that means it is tying…[Read more]

Matty,
Drop me a line and tell me what you want to achieve and why you need a mentor. deero@optusnet.com.au

Enjoy
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(Andrew)

“Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired, and success achieved.”

Interesting point Crashy and one I agree on. When the numbers don’t work….walk away. I haven’t bought anything in Brisbane for the last 3 months and that to me is a long time. I cannot find anything worth buying and I have a few contacts that feed me good property. Such is life. I won’t buy for the sake of buying but only if it makes me money.…[Read more]

Hey all.
Not usually one to let numbers seem important and I am still not but thought it would be encouraging to see that you can grow property as Slumy has shown.

Bought my first property last May/June (2002) and we Own/under Contract 19 properties to date. Last year we also reno’d and sold five properties (on top of the 19).

Hope this…[Read more]

NAB and stupid decisions seem to be common lately……Promises, promises then problems, problems….. Part of the fun of property.

Enjoy
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(Andrew)

“Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired, and success achieved.”

Hey all.
I’ll take the plunge.

Sheric…..yes you can use your parents equity if they are agreeable. Make sure you document it though and/or enter a Joint Venture agreement with them.

Where I started. I used some of the equity in our house to buy another property. This was the start of my buying. I then looked for another using more equity. I…[Read more]

We are what we repeatedly do. Excellence, then, is not an act, but a habit.”
-Aristotle

“The grand essentials of happiness are: something to do, something to love, and something to hope for.”
-Allan K. Chalmers

Enjoy
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(Andrew)

“Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the…[Read more]

To be honest Cremin it is easy to miss a post at the moment with the amount of traffic coming through the site so don’t feel to bad. For me I saw it briefly but I have been (and still am) very busy sorting out some deals.

Anyway my story is a house I bought to Renovate about 4 months ago. I looked at the reno costs, etc and decided it would be…[Read more]