Forum Replies Created
Thanks Regina,
Your structure and approach sound like the style used and ecommended by a lady I heard speak the other evening, Dymphna Boholt. She seems very switched on so I hope it goes well for you. My question though for you is why not have the property positive geared so it can replace income ? As Mr McKnight Snr once (or twice) said you can’t go broke owing nothing.Hey there ( no tag so not sure ??)
I am also a newbie so I know how you feel. I found a very basic level of information can be gleaned from the Property.com.au website. When you search an area and look at a property in the top right corner a little “Area Profile” appears and this gives some basic (and more importantly) free information. Not all areas are covered but I have found most places I have looked at are there.
Hope this helps.
AD [
]Li-Sa,
You are a gem thank you very much I will check out the website.
AD
[:0)]Mark,
Went to a seminar tonight run by Break Free Events and the lady speaking was a Maroochydorite. She runs a budding practice and while she is more in the buy and hold mode I think she would be worth talking to about what you want to do. Her name is Dymphna Boholt and here is her website. http://www.activefa.com
She seems very good and has a passion for anyone who is being proactive themselves.
Hope this helps.
AD [:0)]Edited by – [email protected] on 28/05/2002 10:05:07 AM
Lance,
Nice Website.
I am currently with NAB and have asked them about Wrapping and they said (my personal banker said) that it is not the type of transaction they would enter into. Could you let me know who or how you got through with NAB as this could save me a lot of time.
Thanks
ADPete,
Welcome. I have found that the best way to Leverage my time is to use the Internet. So many individuak websites for Real Estate agents and then the genreic ones like http://www.realestate.com.au or property.com.au. Unfortunately starting out takes time as I am finding but it is time well spent when you bump across the first property.
Hope this Helps
ADChristine,
I currently own a property and am thinking about selling for cashflow potential and start renting. I guess as Steve has said to me you have to decide what you are out to do. Decide what you want to do and write it down and apply that rule to everything you want to do. If you want to own a house for yourself excellent, I suppose you also have to do the numbers on what it costs to rent versus own….Some thoughts I hope they helped.
ADTara,
I am 31 years old but am facing a similar dillemma. I am currently thinking of selling of my house and realising the asset so I can invest in a lot more real estate. It is a big step as we live in an area where property is going up but we are still very keen to achieve financial independence. Drawing down on the loan is an option but being able to have a lot of cash makes things even easier. Not sure which way to go.Tara,
I am in Brisbane not far from you. seems to be some good oppurtunities all around us….it ‘s just a matter of finding the pearls. I’ve bought two properties and number one was alright ($73K renting for $145) but number two I took my time (and it is $64.5K renting for $140. I got a bit carried away with the first one but applied Steves rules more effectively the second time. Enjoy the experience…. I did. I hope to buy many more houses.Hope all goes well.
Andrew DSteve,
What is the rental availability like in the area.
Are tenants keen to stay?
Is the rent appropriate or over/under-valued ?
What is the state of the property ?
What is the area like ?
What infrastructure is in place for the town ?
What plans do the loacl council have for the town ?
What are the Rates and other costs relative to the property ?
These will do for a start as others have said though it seems good on face value.
Andrew DMike,
You are obviously a Brisbanite like myself so Hello. I’ve been over a few times (4-5) looking at properties all through that part of town and the prices from these companies seem a bit high.I use Steve’s practice of the 11 second solution. On your numbers they are outside the parameters. One of the things that really caught my vision with Steve (and other like him) is their advice to only buy positively geared property (aside from Tax considerations). I have bought two such properties so far and am looking for many more. One of the advantages of Poitive geared property is Capitl growth is somewhat irrelevant as the property pays itself off. In regards to Employment in the area that can play a part but I usually like to see how many properties are for rent right now. Going around to various agents and getting their rental list is very interesting because you can then see what others are receiving for rental and how many rentals are out there.
One deviation from my last statement though is that even with a few rentals out there you can always differentiate your property. This is discussed in Steve’s material.
It is interesting what agents don’t know at the appropriate time… makes you think they don’t do their homework or don’t want to know the answers. Trust nobody but yourself when it comes to research.
Hope this helps.
Andrew DIn regards to Steve’s information…. I have purchased the Wrap secrets revealed kit and even though the price tag is not cheap anything worthwhile is never cheap. If you truly want to know the process Steve and Dave use for Wrapping properties this will show you. It will help you to decide if this process is “good” for you. There is a workbook and Audio so it covers all bases. In regards to after sales support, Steve was open and honest about his 60 day money back guarantee and I have Emailed him many times with Questions and he always replies within a day or so. I haven’t completed a Wrap yet so I have yet to find out how Steve will help me step through the process but on past record I’m sure it will be worthwhile.
The Property secrets revealed Kit was equally valuable abnd would recommend this to anyone who is interested in buying property. The skills and techniques and knowledge outlined in this kit would be worthwhile to anybody even if buying there own house.Hope this has answered some questions. Look forward to doing my first Wrap and also talking to you people doing the deals.
Andrew D
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