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April 20, 2003 - 5:11 pm
Hey Chan,
The reality at present is that I buy anything I can that works. Things are getting tighter as more people become aware f the investment opportunity. I would love to be able to give away deals to everyone but that at present is not a reality. People like Hilary are invaluable and the service they offer is great for those who cannot get out there themselves.
In truth though there is nothing like trudging the streets for yourself to get a feel for the area and if you like it or not. I always go somewhere for a while before I buy. I like to know the place and feel it’s “vibe”.
Sorry I couldn’t be more help Chan but Hilary is offering a great possible solution.
Remember the greates investors are those that can solve problems.
Enjoy
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“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
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April 20, 2003 - 5:06 pm
Paul,
I think I see what you are saying but the honest truth is that two properties in the same area that were $100K different would probably rent for different money. On the flip side if ou can show me a house in a suburb that sells for half the price as the next house and rents for the same money I’ll buy three !!!
As to competing with the other property….. Who needs to compete. I personally have properties that rent for much better than 5%. I “compete” only with the other properties in my area. The worst return I have is 10.4% and that property has grown 50% since I purchased it 10 months ago. The best I have is 13.35% which has grown 30% after I did minor works to improve it.
Markets in different areas can sustain different prices. For example my neighbours rent for $170/week and the house would be worth $350K, but I own a house that cost me $70K and $10K reno that also rents for $170/week in a different town.
These sort of opportunities are out there, they are often hard to find but well worth the finding when they appear.
I guess the aim of this site is to open peoples minds to possibilities. It is possible to find cashflow positive property that rents to people like you and I.
The people who rent my properties are people with families and are good people. Everybody needs somewhere to live and people choose different places for their own reasons.
Positive geared properties exist because of circumstance, eg.
1. In mining towns returns are very high because of the cash rich transient population.
2. Places that may have a stigma atached to them that often change their culture before the prices.
3. Places that have had economic setbacks but changed their outlook.
4. Time – We all know of properties that 2, 3,4, etc years ago where far cheaper than they are now. I know of places in Sandgate in Brisbane that 5 years ago where cash positive but now are well and truly negative if you were to buy.
When this cycle turns full circle again who knows what opportunities may be present for cash positive property. I will certainly keep my mind open to the possibility and I think everyone should.
When you are receptive to the possibility it is amazing what you can find. If you don’t want such properties….that’s fine too as people have to do what they are comfortable with.
You’ve made me think again Paul…Thanks.
Enjoy
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(Andrew)
“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
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April 20, 2003 - 2:21 pm
Hey Paul,
I think I see what you are getting at but I am unsure where such an option exists.
Most renters choose an area they wish to rent in and then find the property that best suits them. In any given area that a renter will choose to live there are predetermined rental prices. If they cannot afford to live in that area then they downgrade to a slightly cheaper house. Whether houses are worth 200K or 100K in my experience means nothing to a renter. People choose where to rent and then rent what they can to their budget.
Just my thoughts.[^]
Enjoy
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April 20, 2003 - 1:20 pm
Hey Flinders,
Sounds like you have it all working well. Maybe freedom is only just around the corner. How many properties has it taken you to get to where you are today ?
Enjoy
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April 20, 2003 - 7:41 am
Congratulations Quasi,
May you be as happy as I am with my own princess. Enjoy your future together.
Enjoy
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(Andrew)
“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
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April 19, 2003 - 6:01 pm
Hey Sarah,
Welcome to PI.com.
Wow, if there were only an easy answer to your question.
Seems that you have a gross return of around 7.9%. That is not a bad return but if it suits you depends on ………….you.[]
What are you seeking to achieve from your property path ? Capital gain or Cashflow is an interesting conundrum and Queentin has some great points in the following link.
https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=1093
Good growth around the property is a good thing but never a guarantee. If you know the area well then you are the best expert on the buy that is available. Continue to educate yourself and keep on asking questions.
On the property you talk of…. Is it well priced to the market ? Are there things you could do to improve it’s value ? Are the vendors motivated ?
Keep us posted Saraha I am keen to hear your thoughts.
Enjoy
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April 19, 2003 - 5:50 pm
Can’t argue with your logic Quentin but I still don’t wholly agree….(good to have different opinions – makes me think). []
Tax relief is all very well but yuo are still paying for the privelege of owning the property. As long as the property market goes up like the market we have experienced over the last 5 years(approx) then all is well. In a flat market what then ?
Yes you have to pay tax on the cashflow but I have always figured that paying tax means you are making money….Isn’t that a good thing ?[?]
Personally I hope I have another good 30 years to invest in property also but I still want to retire in under 10 years so I need cashflow to support my habits and the habits of my family…
In conclusion I am not against negative gearing but I think you have to consider both options and what suits you. It’s always hard to crystal ball but it’s also worth considering what might happen over the next few years. []
Lots to think about Jus-10. []
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April 19, 2003 - 4:15 pm
Hey Jus10,
I agree with Quentin up to a point. Writing down your aims, etc is an excellent idea and a neccessary one. Quentin is also right that you have to look at all the options and decide which one is for you. As to ignoring cash flow positive properties in favour of Capital gains I would say that Quentin is wrong. What is right for you has to fit what you want to do. For example you may wish to leave your job sooner rather than later and cashflow property may be an important part of that process. It is not the be all and end all by any stretch but it should be considered.
As to this site merely selling Steve’s stuff….. I really think people don’t believe that and I think from the discussions that happens here daily there is evidence of this.
Yes it may be more “positive” in it’s focus but that is not a bad thing.
Somersoft is a great site with lots of knowledgable people who are happy to share their experience. Hopefully kinda like here. I enjoy somersoft forum and I think it is great.
Jus10 back to the issue. Sit down write your plan and follow it. Read good books like “One Minute Millionaire”, that challenge your thinking. Also “Think and Grow Rich” by Napoleon Hill. Another beauty is “The Richest Man in Babylon” by George Clason.
These books will help you with your thinking they will not give you answers but help you find them for yourself.
Hope this helps and keep on asking the questions and bring your plan to the table.
Enjoy
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April 18, 2003 - 7:43 am
Hey Dorothy,
As to population I always think If I have to sell this property quickly for any reason can I. In a small town the chances are much reduced. Also Is the chance for a smaller town to shrink or a larger town ??
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(Andrew)
“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
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April 17, 2003 - 9:50 pm
Hey Gus,
Tough one to call. Do you walk and call it a learning experience that you are much wiser from or is it the kind of property you want to hold. How does this fit with your investment goals ? Do whatever brings you closer to your desired goal. Remember that if you are looking at break even you could wrap the property and sell at a small premium to market enabling you tomake a profit out of the deal.
Hope this helps.
Enjoy
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“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
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April 17, 2003 - 9:12 pm
Welcome Jus,
Hope you find much knowledge here that will help. Dig back through the posts and you will find heaps of info. Which part of the world are you in Jus ?
As Brett said…What do you want to achieve and what are you willing to do to achieve it ?
Talk soon….
Enjoy
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(Andrew)
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April 17, 2003 - 9:06 pm
Hey all,
Hope everyone has a happy and holy Easter. Have a ball and spend lots of Quality time with the clan. Remember that this property stuff is fun but Family and Friends are more important.
And I’m with Matt on the chocolate…..It’s gotta happen.
Enjoy
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April 17, 2003 - 3:03 am
I’m with Essykay on this on Dot. Acceptable to you or me or anyone else is subjective to your own needs. Remember though that cashflow is present and in your pocket. Capital Growth is subjective and in the future.
Do whatever gets you closer to your goal (the one you have written down).
Enjoy
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(Andrew)
“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
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April 16, 2003 - 8:54 am
Hey Paul,
Cool story. Well done on the hard work. Really enjoyed your journey. It makes me believe that it really is possible.
Enjoy
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(Andrew)
“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
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April 16, 2003 - 8:51 am
Hey Junior. Welcome to the Forum.
Mate what a question. How many angles are there ? In all honestly so much depends on your own position that you really should seek some professional help (accountant).
I want to write more but realise just how many ways this could be looked at and will hold back. Professional advice is all I can say before you decide to do anything. It may cost you a few hundred but it will more than likely make you that plus some by doing it right.
Sorry I couldn’t be more help.
Enjoy
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(Andrew)
“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
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April 13, 2003 - 7:06 am
HEre is another thought Steve,
Fasttrack to Freedom
Or
The Freedom Fasttrack.
Or
Fasttrack to Financial Freedom
Enjoy
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(Andrew)
“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
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April 12, 2003 - 10:53 am
Mate,
It has nothing to do with censoring – if I was censoring your post would probably have been deleted.
This is about keeping the forum for those who actually want to discuss issues pertaining to their investing life.
You do not wish to discuss issues you merely wish to antagonise.
As in the definition you supplied it is an open discussion such as a magazine….now personally I am not into hotrods so I will not buy the hotrod magazine and it is very obvious you are not into property or Steve McKnight so I would suggest you not buy the property magazine (or Propertyinvesting.com forum).
So thanks for the quick lesson and why not wait for Steve’s reply on Monday to your query which I am sure will be coming to the forum.
Have a great weekend tails and I am sure we will both look forward to Steve’s reply.
Enjoy
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(Andrew)
quote:
“Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.” – Albert Einstein
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April 12, 2003 - 9:55 am
Hey Paul,
Mate your views have been put over clearly enough in many posts under many names. I love reading posts that challenge the way I think but I’m not a big one for slander. If you want to challenge the property investing model …. go ahead. IF you want to write posts like this then I’m sure people would rather not here from you. Please continue your investing journey with my best wishes.
Enjoy
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(Andrew)
“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
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April 12, 2003 - 9:44 am
Hey there Dot,
Welcome to the gang.
Good questions and ones that asked a lot.
1. 11sec solution – simply it is a filtering tool many use when looking for cash flow positive property. Rent of the property (/week) * 1000 /2 = around a 10% yield. This means to me and others that I will further investigate the property and see if the numbers stack up. Use the search function up above to find heaps of great links about 11 second solution.
eg. Rent $150/week then suggested Cost is $75000.
(before you say it yes they are out there).
2. As to what you need to do……it’s totally up to you. What I do is everything I do and spend on property and other things passes one test. Will this get me closer to my investing goal. If it is a yes i do it….If it is a no then I walk.
I am serious about retiring young and I realise that I need to sacrifice a few things now to get there. My wife and kids do not want for anything but we do try and not by doodads (please give her strength…..)
An example of this is my wife wanted to ski this year (it’s been 6-7 years) and I said to price it out. When she did with childminding etc. it would have cost over $4000. You know her words….That’s nearly a deposit. So the challenge was to use that $4000 so it would generate sufficient income to allow the trip and not touch the original capital (a little extra would be nice).
Well that $4000 needed to be $5000 but it has made us around $14000 in 45 days so maybe the trip is on. Then again my wife is keen to see that happen again so maybe next year for the trip.
Now I’ve been wandering a bit but what I am trying to say is that you must write down your own goals and always…always….always put them first. Only ever do things that will bring you closer to those goals not further away (Realise also that mistakes happen).
As to whether Positive or negative……how many negative deals can you afford to do and can you guarantee the capital growth. How many cashflow properties can you do and how much money does each one take or put into your pocket.
Questions for you to answer.
People may give you there opinion about location or cashflow but that is up to you. I personally believe that cashflow is a great way to start because if property faulters then you still make money. Also I will look at a cashflow negative property only if it has other benefits or options.
All this rambling ……hope this has helped Dot.
Enjoy
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(Andrew)
“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
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April 8, 2003 - 1:57 am
Steve,
WOW…..Lots of great suggestions so far. I think you will struggle with choosing the right one from so many excellent options.
Here are mine:
1. Freedom through Property :
2. The passive way to financial freedom :
3. More time, More Life :
4. The passive way :
5: From Life Sentence to Lifestyle :
6. How I found Financial Freedom :
7. Mindset for Money :
8. Let the Money Flow :
9. Open your Mind to Freedom :
Some Thoughts…..
Enjoy
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(Andrew)
“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
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