Forum Replies Created
Basil,
Good question, and I think the answer lies in a similar question back to you – would you want someone to act ruthlessly when doing business with you? Generally not I’d imagine.
I feel that respect and empathy are important traits in business and in all areas of life. So I totally agree with Maple on that one.
I also agree with Simon in that you have 3 options, and I’m also with him in that I generally wouldn’t want to entertain the 3rd option. Having said that, as a professional army officer I think I have the “ability” to give as good as I get, but I don’t think it often helps matters.
As an example, I recently called a builder in a small town where I was considering purchasing a property. The builder’s attitude from the start was incredibly rude and arrogant, and so I simply told him that I wasn’t interested in dealing with someone with that kind of attitude, and hung up.
At the end of the day, it didn’t matter if he was the best builder in Australia. If he spoke to me like that at the start, how could I expect him to treat me with courtesy and respect when he was working for me? I think sometimes you just need to go with your gut feeling, and if your gut is telling you bad things then you need to listen!
My business policy is to always act professionally, and to only deal with others who do the same. Sometimes it is difficult to do this when there is a seemingly attractive “reward” for abandoning that policy, but your reputation is more important (in my belief). In fact it is your most valuable asset, and you should guard and protect it no matter what.
I hope that helps somewhat!
Cheers,
Adam
Oasis Finance
for your Vendor Finance solutions
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[email protected]Hi Swifty,
Simon’s right – you need to provide more information for people to be able to give you advice on this.
On the surface, you’re talking about just over 7% return on your cash here. If that’s all that you’d be getting out of it, it all depends on the risk and the effort you’d need to put in to get this return. You could simply go to any old bank and get a 5.5% return or better on a term deposit. Risk = minimal. Effort = minimal. And you’re only talking about $2 less per week.
But there may be other factors here. I’m guessing you’re talking about property, so there may be CGs involved depending on location. In this case your return would be greater than that 7%.
So if you’d like any further comments, please give us more detail. What type of investment is this? What effort would you need to put into it? What is the risk? Are there any other gains to be made in this, apart from the $15/wk CF? (eg. CG?)
Cheers,
Adam
Oasis Finance
for your Vendor Finance solutions
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[email protected]Hi brenan, and welcome to the forum! I’m sure you’ll find this website to be an excellent reference and resource for you.
My best advice for you if you’re new to all this is to do a search of the forum – go to the top of the page, and hover your mouse over where it says “Forums”. Then click on “Search”.
If you enter “birddogging” into this search, you should come up with lots of hits – there have been heaps of similar questions to yours ever since Steve’s second book!
Best of luck!
Adam
Oasis Finance
for your Vendor Finance solutions
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[email protected]fbd1,
I certainly have no experience in this sort of thing, but my suggestion to you is simply to re-ask your question under the “Help Needed” section – it is the section that gets the most attention on this website due to layout.
Perhaps if a moderator/administrator is kind enough, they may even do this for you?
In the meantime, and it does seem as if you have already done this, I must stress that the deal is only as good as the numbers. So make absolutely sure that the numbers DO work out in it before you proceed. The danger in a big project such as this is that it can become very emotional – “I CAN do this!” – and the numbers take a back seat to ego/emotion. Though I’m not suggesting this is occurring here, it’s always something to be aware of.
Best of luck with your project though – I hope it works out for you!
Cheers,
Adam
Oasis Finance
for your Vendor Finance solutions
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[email protected]Pursefattener,
I know nothing about bees, but just did a Google search and came up with the following link (among lots of others!). I hope it helps!
http://www.honeybee.com.au/service/swarm/index.html
Cheers,
Adam
Oasis Finance
for your Vendor Finance solutions
Achieve the Dream!
[email protected]Interesting – thanks bardon.
Adam
Oasis Finance
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[email protected]Hi Kariba,
Nothing further to add here – Derek’s and Amanda’s posts are both very relevant.
I just wanted to ask – with a username and avatar like yours, are you an ex-Zimbo/Rhodie? I was born in Umtali/Mutari and came to Oz in 1980!
It’s good to have another one aboard (if you are one!). Regardless, welcome to the forum – I’m sure you’ll find it to be a wealth of information and advice.
Cheers,
Adam
Oasis Finance
for your Vendor Finance solutions
Achieve the Dream!
[email protected]Hi again Tig3r,
No probs with the assistance mate – it’s what this forum’s here for, and I have certainly got my “pound of flesh” from it myself, so it’s only fair that I put a bit back in! But thanks very much for your appreciation[biggrin]
Regarding your question, as I suggested in my post (see link https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=22508) you need to narrow your search down to a particular area first. And as you’ve discovered, Brisbane is probably not the easiest place to concentrate on when you’re just starting out! We have gone through a huge boom here, and prices have far outstripped rent returns, so you (and I) will struggle to find CF+ deals within the city.
Go further out. Start looking around regional centres. Begin by doing an online search for properties less than $150K in SE Qld. This may give you an area to start searching within. It won’t help you very much, because there will be lots of “hits”, but it will at least show you where NOT to be looking (eg. Brisbane!).
Unfortunately this is the question a lot of people have when they’ve just finished Steve’s books, because they think “okay – I understand the 11 second solution, now I just need to do a search and there they’ll be”. But these days it’s just not that easy. Since the first book, the whole country has gone through the biggest boom in our history, and in a lot of areas rental yields have just been wiped out by the massive upsurge in prices. It will take a long term for rentals to catch up with this CG.
So in response to this, Steve tried to help us in his second book by giving us the equation “problem + solution = profit”. By this he meant that in the current climate, CF+ deals just don’t grow on trees. You will almost certainly not find any online (except perhaps in tiny places in the middle of nowhere, but then the risk of long vacancies and the costs of upkeep and the simple fact that you are so far removed from your investment makes these deals a no go). The best answer is, as I suggested in my post, to get out and pound the pavement and actively look for them. Have a read of my post for possible methods of doing this.
Well I hope that helps you Tig3r. It’s easy to get disillusioned in the current climate. I can only try to reassure you by saying that the deals ARE still out there, you just have to work harder for them! In fact – this is a great opportunity for those of us who have the guts and determination to persist, because everyone else will have given up! All the more for us!
Cheers,
Adam
Oasis Finance
for your Vendor Finance solutions
Achieve the Dream!
[email protected]Simon,
Could you possibly elaborate on how to access these MP3 audio books please? This sounds great!
Thanks,
Adam
Oasis Finance
for your Vendor Finance solutions
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[email protected]Crusher,
I just had a quick look at your website and it looks really good! I haven’t yet checked all of it out, but I must give you credit for starting something like this. Well done, and all the best!
Cheers,
Adam
Oasis Finance
for your Vendor Finance solutions
Achieve the Dream!
[email protected]Dazzling,
Great comments! Thanks. What excellent advice for all of us.
Also – welcome back to the forums! I hope your time away was productive, and now you’re back recharged and re-motivated. You were certainly missed here!
Cheers,
Adam
PS. Moderators – how about that “sticky” suggestion? In the last couple of days I’ve referred several forumites to this post – it’d be great if it was the first thing they saw!
Oasis Finance
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[email protected]Hi tsellick25896,
Good for you for asking the question – and yes it does take courage to put yourself out there and ask for help. Well done.
As far as this “opportunity” sounds – it just smacks of the old Gold Coast property seminars that occurred in the late 90s early 00s. What happened with these (as far as I understand) is that people from the southern states were flown up to the Gold Coast, accommodated overnight, then driven around to various properties for sale and given the “hard sell”, with all the wonderful benefits of the property being rammed down their throats, including the incredible capital gains and awesome rent returns. Of course, the whole point of this scheme was that these people, having come from the southern states, didn’t know the fair market price of property in Qld (which was much lower than they were accustomed to) and so didn’t realise that they were being sold properties for THOUSANDS of dollars more than their market value.
So my advice to you would be this:
Go along on this trip if you like. It could be fun! Just make an UNBREAKABLE pact with yourself and your husband that you WILL NOT, under ANY circumstances, purchase ANY property during your visit.
If you are shown some absolutely unbelievable deals, then give yourself a cooling off period and go back home and wait a few days before you make any decisions.
Now – these people (if they actually ARE dodgy, and I have absolutely no evidence that they are) will of course be very slick at their presentations, and very persuasive. This is why you and your husband MUST have your plan sorted out and confirmed before you even decide to get on the plane and go up.
Best case – the company is not dodgy. You still have the pact NOT to buy during the trip, and you have made contact with a very good and professional organisation with which you can deal far into the future. Great!
Worst case – the company is as I described above. You have the pact NOT to buy during the trip, and you and your husband have enjoyed a free trip to beautiful Brisbane! Great!
Either way – you don’t lose!
I hope that helps!
Cheers,
Adam
Oasis Finance
for your Vendor Finance solutions
Achieve the Dream!
[email protected]Hi there Sally,
Welcome to the forum! Firstly, in my opinion you’ve definitely made the right first step in simply joining this forum! I think you’ll find this to be an awesome resource where you can learn heaps.
You are also on the right track by reading Steve’s books.
Have a look at this post for further ideas –
https://www.propertyinvesting.com/forum/topic/22508.html
I hope that helps!
Best of luck!
Adam
Oasis Finance
for your Vendor Finance solutions
Achieve the Dream!
[email protected]tamtam,
Check out this post – https://www.propertyinvesting.com/forum/topic/22508.html
Hope that helps!
Cheers,
Adam
Oasis Finance
for your Vendor Finance solutions
Achieve the Dream!
[email protected]H,
Have you considered approaching the tenants to see if they would be amenable to you “working around” them? Perhaps they may be, for a decrease in rent??? That way, you get to do your minor renos, you still get SOME income from rent (albeit reduced), and it MAY look better to prospective buyers that you have an incumbent tenant.
Something to think about???
Cheers,
Adam
Oasis Finance
for your Vendor Finance solutions
Achieve the Dream!
[email protected]Thanks for your response Derek. No worries.
Cheers,
Adam
Oasis Finance
for your Vendor Finance solutions
Achieve the Dream!
[email protected]Moderators – is this open to the public yet?
Adam
Oasis Finance
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[email protected]Ben,
Crikey! That’s some story! I commend you for your obvious resilience and tenacity in managing to overcome two bouts of Leukemia. If you can do that, I”m sure you can put your mind to doing anything you want (including being successful at property investing!).
First of all though – welcome to the forum! I’m sure you’ll find it to be a great help and support if you stick around.
Have a look at a post I wrote recently –
https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=22508
I’m sure you’ll find it somewhat informative, and it may perhaps give you a good start point for your property investing career.
As for becoming a REA – go for it! I’m sure you will learn a great deal from “the inside”.
As you will be very aware, there is no “one right way” of getting in to property investing. The route you are proposing sounds absolutely fine in principle. My suggestion to you for the short term is simply to keep on studying and learning (as you already are), and then when you start working, learn how to budget. If you can budget effectively, you will be able to put some of your pay aside and start to build up savings/small investments. As this amount grows, you will become a better prospect for banks to lend to you – and then the world is yours!
Well – I hope that’s been of some help to you Ben. All the best for your REA and investing career!
Cheers,
Adam
Oasis Finance
for your Vendor Finance solutions
Achieve the Dream!
[email protected]Hi Wind Drifter and welcome aboard!
The best thing you can do at this stage is to do a search of these forums for “getting started” or something similar. You’ll find that someone has asked the same question as you just have many times before.
You also asked about books to read – clearly being on this forum you have probably heard of Steve McKnight’s books. I would highly recommend starting with these. They will give you a really good idea of the possibilities of smart real estate investing.
In fact, the other day I wrote a post designed especially for people like you! Check it out at the following link:
https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=22508
I hope this helps you on your journey!
Best of luck!
Adam
Oasis Finance
for your Vendor Finance solutions
Achieve the Dream!
[email protected]Hi again everyone,
Great to hear so many comments from so many different people. And thanks Amanda for your comment – it’s good to get a different point of view.
Kirsten – a quick answer to your question “how do we start”. I would suggest first reading Steve’s second book – $1M in Property in One Year. His first book was written during the boom, while the second was written in 04 in a very different climate. He has some very good points in the 2nd book, including the “new” equation – (Problem + Solution = Profit). So that’s the first step!
Next, have a look at my comments in the links below. I don’t pretend to be an expert in this, but these thoughts may give you something to work from!
https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=22508
https://www.propertyinvesting.com/forum/topic/22450/2.html?sortfield=&sortorder=
I hope that helps. All the best!
Adam
Oasis Finance
for your Vendor Finance solutions
Achieve the Dream!
[email protected]
