Replies Created | Forums | AD | PropertyInvesting.com

Forum Replies Created

Viewing 20 posts - 581 through 600 (of 632 total)

« 1 … 26 27 28 29 30 31 32 »

AD
Participant
@ad
Join Date: 2002
Post Count: 636
September 16, 2002 - 11:46 pm
Where are you in Qld ?
AD
A great deal of talent is lost to the world for want of a little courage. Every day sends to their graves obscure men whose timidity prevented them from making a first effort.
-Sydney Smith
AD
Participant
@ad
Join Date: 2002
Post Count: 636
September 16, 2002 - 11:21 pm
Gavin,
I am about as green as you but here are my thoughts. I am currently in the process of my first wrap. I would never accept anybody without a deposit. (Being in Qld means no FHOG until 1 year later which I leaver to the clients discretion for spending – with my subtle suggestions of repayment.)
Even with only FHOG it means the people have put nothing into the deal themselves. No commitment may lead to problems down the road. If people have their money in the deal then it means they may lose thier money (not Govt money)if they default.
The deal I am currntly doing I bought for 61200 and will wrap for 73000. I could have gone more but felt that this was all I was comfortable with morally and wethically. It means they get a house for less than rent and I get a cashfloe without tenant issues. WIN- WIN as Steve says. Hopefully this will settle end of this month….party at my place….
As to interest I am charging 2.5% above my rate. I am very open about that and the people do not seem to mind at all. I have tried to be as transparent as possible in all my dealings so there is no propblem later. (hopefully)
I have another house under contract at the moment where I have bought for $69600 and will wrap at $87-90K. This margin is much greater but the market allows that margin with the prices of houses.
I also have a renovator in the process of being worked on and it should be done in a few weeks and it will cost me $102K all up but I will wrap it at $145-150K because that is what I could resell for (top dollar) I think margins are what you can get and what you feel comfortable with.
Hope this helped.
Enjoy
AD [:0)]
A great deal of talent is lost to the world for want of a little courage. Every day sends to their graves obscure men whose timidity prevented them from making a first effort.
-Sydney Smith
AD
Participant
@ad
Join Date: 2002
Post Count: 636
September 12, 2002 - 7:06 am
Tony,
Link looks good. Do you use this software yourself ?
Thanks
AD [:0)]
A great deal of talent is lost to the world for want of a little courage. Every day sends to their graves obscure men whose timidity prevented them from making a first effort.
-Sydney Smith
AD
Participant
@ad
Join Date: 2002
Post Count: 636
September 11, 2002 - 8:58 am
Sooshie (Sarah)
You are a dynamo thanks for all the links. I wish I had time to explore them all. I am finding that is the most valuable commodity of all.
Hope all are well.
AD
A great deal of talent is lost to the world for want of a little courage. Every day sends to their graves obscure men whose timidity prevented them from making a first effort.
-Sydney Smith
AD
Participant
@ad
Join Date: 2002
Post Count: 636
September 10, 2002 - 1:21 am
Thanks Steve,
Must say that keen as mustard for November is an understatement. I am really looking forward to the event and all it holds in challenges. Hope all you others are coming !!
Enjoy
AD [:0)]
A great deal of talent is lost to the world for want of a little courage. Every day sends to their graves obscure men whose timidity prevented them from making a first effort.
-Sydney Smith
AD
Participant
@ad
Join Date: 2002
Post Count: 636
September 10, 2002 - 1:19 am
Congratulations Gavin and Carolyn. I readvertised also last week and recieved 10 calls that day and hopefully a few good leads. I started backwards in that I bought a house first . Going to advertise this week with no property just interest in the idea. Where you advertising a property or the idea when you advertised ?
Enjoy
AD [:0)]
A great deal of talent is lost to the world for want of a little courage. Every day sends to their graves obscure men whose timidity prevented them from making a first effort.
-Sydney Smith
AD
Participant
@ad
Join Date: 2002
Post Count: 636
September 8, 2002 - 9:07 pm
Would definitely help.Good idea.
AD
A great deal of talent is lost to the world for want of a little courage. Every day sends to their graves obscure men whose timidity prevented them from making a first effort.
-Sydney Smith
AD
Participant
@ad
Join Date: 2002
Post Count: 636
September 3, 2002 - 11:46 am
Hey Josh,
Good to see you getting going. Hope you succeed beyond your wildest dreams. With regards to the Investors club I have had friends buy property off them and while they haven’t done badly I still believe with a little hard work it is not hard to beat them on returns and or Capital Growth. I also heard some rumors of legal action pending on them….can’t substantiate but maybe through the question up on the somersoft forum and see what they say. I suppose the reality is doing something is better than nothing but I really believe you can do much better on your own (and cheaper). You have proven your mettle by writing on the forum so go get that property.
Enjoy
AD
A great deal of talent is lost to the world for want of a little courage. Every day sends to their graves obscure men whose timidity prevented them from making a first effort.
-Sydney Smith
AD
Participant
@ad
Join Date: 2002
Post Count: 636
September 2, 2002 - 4:12 am
Hey all,
It might be worth getting in Touch with Freestylers. Save reinventing the wheel. Just a thought.
Enjoy
AD [:0)]
A great deal of talent is lost to the world for want of a little courage. Every day sends to their graves obscure men whose timidity prevented them from making a first effort.
-Sydney Smith
AD
Participant
@ad
Join Date: 2002
Post Count: 636
August 28, 2002 - 11:47 am
By the ay Bris22, drop me alie always keen to find out what brisbane people are up to. I am in Brisbane as well.
Enjoy
AD
[email protected]
A great deal of talent is lost to the world for want of a little courage. Every day sends to their graves obscure men whose timidity prevented them from making a first effort.
-Sydney Smith
AD
Participant
@ad
Join Date: 2002
Post Count: 636
August 28, 2002 - 11:08 am
Hey Bris22,
I presently do something similar. I buy positive geared property and once the rest of my home loan (bad debt) is gone I will actively seek to reduce my good debtwhile increasing it at the same time…i.e. I will pay off each house and hopefully continue to buy more. So far if all goes to plan, my house will be paid off in 1.5 years and then the IP’s I have will also be reduced from their. The way I look at it if I do not buy another property then I will own my home and 5 IP’s and a Wrap and all will be paid for in 8-10 years. That is $595K worth of property in todays terms that cost me $450 K and returns me $940/week. So in 10 years time I can look forward to a passive income of around 35K (after costs) that I don’t have to leave home for. Of course this is only step one I hope that this will continue to grow and I am finding that the power of compounding works here to in that if you have 5 you may pay them off in 8-10 years but 10 may only take 13-15 years and so on. David Bradley talks about the “no-brainer passive income plan” in steve’s gear.
So in closing while I still love positive geared property more than tax reliant property (negative geared) I think you will do well using this method.
Enjoy
AD
A great deal of talent is lost to the world for want of a little courage. Every day sends to their graves obscure men whose timidity prevented them from making a first effort.
-Sydney Smith
AD
Participant
@ad
Join Date: 2002
Post Count: 636
August 26, 2002 - 12:02 am
Hey Watto,
haven’t talked to you for ages…hope all is well. []
No body else where this property is but a town of only around 15000 people. At present I am very excited about the posibility of wraps so I am hoping to do a few more than a couple. [] We’ll see. I have just contracted another property a little closer to home that I am going to try vendor financing as well.
As to the info I have used what steve suppllies as my base (on the website http://www.propertyinvesting.com/files/wk.asp?cid=faqhome
I put the fluff around the putside of it. Drop me a line if you want to know more.
Enjoy
AD [:0)]
A great deal of talent is lost to the world for want of a little courage. Every day sends to their graves obscure men whose timidity prevented them from making a first effort.
-Sydney Smith
AD
Participant
@ad
Join Date: 2002
Post Count: 636
August 25, 2002 - 4:59 am
Cherie,
Glad to know I helped. I think you will find JB’s book challenging and Steves more so when you get there(as it is very specific). JB’s stuff is all about getting you and your life into gear. I know you will enjoy it. If ever I can help again please feel free to contact me.
Enjoy
AD [:0)]
[email protected]
A great deal of talent is lost to the world for want of a little courage. Every day sends to their graves obscure men whose timidity prevented them from making a first effort.
-Sydney Smith
AD
Participant
@ad
Join Date: 2002
Post Count: 636
August 24, 2002 - 4:48 am
Hey there Cherie,
Welcome to the gang…..
You ask a broad question. I suppose the answer is found in what you want to achieve. I started out only 6 months or so ago and have bought (as of Friday) 5 positive geared properties (that is money extra after all expenses regardless of Tax). The last of these I advertised on Friday (yesterday) to Vendor Finance (I don’t like the word wrap sounds less credible to me). I have had three responses but I’m going to post a thread all about that later. From where I sit now (not that far along), I think I should have done a wrap sooner. For me (note me) I want to increase my cashflow position so I can buy more assets sooner. The one thing I have learnt is that each property holds it’s own special key. You must find that key as thast will unlock the best exit strategy for that property. As many people will agree when buying you must look at the exit strategy for your purchase (rebo, Vendor Finance, Buy and Hold, Lease Option). If I can make five suggeestions they woud be these.
1. I would read John Burley’s book “Money Secrets of the rich” and read it end to end.
2.(points two and three are interchangable) I would try and get to Steve McKnight’s weekend seminar in Sydney in November https://www.propertyinvesting.com/files/content.asp?cid=mpi
I will be going and everyone who has been and reporrted back said it was great. Steve is an inspiring person with a lot to offer you (and me) and I have found him to be excellent in all things.
3.If you liked what you read in JB’s Book I would buy Steve McKnight’s Wrap secrets Revealed (including the Property Secrets Revealed). Even if you never do a “Wrap” you will find heaps of valuable information in there.
4. I would spend as much time as possible on Forums like this one listening and learning. (other forums lik http://www.somersoft.com and http://www.mastermindforum.com/phorum/ go to JB’s chat).
5.Visit sites like http://www.positivecashflow.com.au for free information and access to material.
Just remember Cherie it is not a race against anyne else, only yourself. Push yourself and seek only the very best from yourself. I have spent countless hours researching, pounding the pavement and asking questions of people. You may need to do the same. Whatever you do though make sure you enjoy it. I have had a shocer of a month with regards to settlementson three properties but hey that’s part of the game and I have learnt heaps from the incident and also tested the mettle of my conveyancer (she stood through the test well).
I hope this helps you Cherie I know I have learnt a lot from the other people on this site and they really are great. Don’t be afraid to ask any question no matter how silly it may seem as it is important to you. You will also find stuff may cost some $$ but I believe it was worth the spend. I can honestly say that I have more than covered the money I have spent (and I have spent some).
Hope you enjoy your journey I congratulate you on taking the first step and if I can ever help let me know. Just remember to do something. Don’t be a gunna do it because they look back in five years and realise what they missed out on. The hardest thing for me was spendig the time (a lot of time) and then taking that first step. Not the best deal I ever have done (in hindsight) but I learnt heaps and I know I have improved.
I am no expert but hope I helped with my ramblings……
Enjoy
AD [:0)]
A great deal of talent is lost to the world for want of a little courage. Every day sends to their graves obscure men whose timidity prevented them from making a first effort.
-Sydney Smith
AD
Participant
@ad
Join Date: 2002
Post Count: 636
August 23, 2002 - 1:40 pm
Jason,
Welcome. I had alittle think and while never being in the same position one idea came to mind. What if you asked the owner to vendor finance you into the business. Ask them to finance you the $140K at an interest rate you negotiate. The rate is up to your negotiation skills and or need.
Hope this helps.
Enjoy
AD [:0)]
A great deal of talent is lost to the world for want of a little courage. Every day sends to their graves obscure men whose timidity prevented them from making a first effort.
-Sydney Smith
AD
Participant
@ad
Join Date: 2002
Post Count: 636
August 22, 2002 - 1:49 pm
Might also be worth a visit to http://www.positivecashflow.com.au, a good site with some intro stuff and the owner is a local Brisbane boy.
Enjoy
AD
A great deal of talent is lost to the world for want of a little courage. Every day sends to their graves obscure men whose timidity prevented them from making a first effort.
-Sydney Smith
AD
Participant
@ad
Join Date: 2002
Post Count: 636
August 17, 2002 - 3:57 am
Wei,
I also read your post on the Somersoft when it was going on and thought that some of those guys may have had a slightly limited view and might been a bit harsh toward you.[]
My thoughts at the time were that you have to remember that a lot of people on Somersoft (good people they are) are coming to the table with a different perspective. I have learnt and still learn a lot from these guys and gals about buy and hold stuff. Where you and I are heading requires more flexibility and drive. If we were to wrap just one or two houses every year that would be Okay but from everything I have heard from others once you start you find a big market out there. This then requires you to be able to buy a lot more properties than the average buy and hold investor(lots,lots more). I am advertising my first wrap next week so I am not speaking from experience from wrapping properties but I have bought 5 properties over the last 3-6 months (4 buy and hold , one to wrap soon)so I have had to learn how to be creative (not illegal) with my resources. I also see where I should have done things differently in the early days so as to allow me more flexibility now. Lessons learnt. As always (nearly) Steve is right in that others do not have your perspective….the thought of buying 10 or more properties in a year would terrify them. []Also buying in some of the areas we go would also double the terror[] []
I enjoy all your posts Wei so keep on going I am learining heaps. Will let you know how the Ad went.
Hope this helped,
Enjoy
AD [:0)]
Andrew Deering
p.s.
Always ready for a chat [^]
A great deal of talent is lost to the world for want of a little courage. Every day sends to their graves obscure men whose timidity prevented them from making a first effort.
-Sydney Smith
AD
Participant
@ad
Join Date: 2002
Post Count: 636
August 13, 2002 - 4:01 pm
Hey Mark,
As to how I got the loans…I guess I am lucky in that the place I live in (own) has had serious capital growth over the last few years and I have a LOC which I use as a deposit base. That and a good broker.
Enjoy
AD
A great deal of talent is lost to the world for want of a little courage. Every day sends to their graves obscure men whose timidity prevented them from making a first effort.
-Sydney Smith
AD
Participant
@ad
Join Date: 2002
Post Count: 636
August 12, 2002 - 12:40 am
Which problem do you refer to Andrea. Not qiote sure what it is ?
Thanks
AD
A great deal of talent is lost to the world for want of a little courage. Every day sends to their graves obscure men whose timidity prevented them from making a first effort.
-Sydney Smith
AD
Participant
@ad
Join Date: 2002
Post Count: 636
August 11, 2002 - 12:00 pm
Ditto,
Ian I had a good look up in the sunshine coast and while cahflow properties may be hard in residential property maybe ou should ask about commercial sites. I saw some good options available around places but I was focussing my energy elsewhere. As the others have also said there are many ways to skin a cat. I would guess that the coast (hinterland included) would be an excellent place to wrap. With wrapping if you find the right people price is somewhat irrelevant (not completely). Keep on following your dreams Ian and do not be discouraged. When properties do not appear merely look further and harder and teach yourself to become more creative….I have a funny feeling opportunity is awaiting you around the corner. Just poke your head around and see…..
Enjoy
AD
“One of the most adventurous things left us is to go to bed. For no one can lay a hand on our dreams.”
-E. V. Lucas,
Stumbling blocks are merely stepping stones for the successful.