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Thanks for that …. I was hoping someone would say that !…
So the trick would be to get a nice cheap house, pay it off with positive gearing, nice and quick and reap the rewards.
The more and more I read about this, the less and less I want to actually sit here and work in my daily job… which is handy as I can see this web site from work…
Thanking You,
Arty.
[]If you can do all that in your head in 22 seconds your doing well…
I would have trouble remembering all the options unless I had it written down.Im just starting out, so I think i will stick to the 11 second rule till I have more experiences as you obviously have.
I suppose this can be an add on to the Due Diligence checklist, after to narrow down the list of prospects….
Regards,
Arty.
[]….Im a newbie too, but I can add something to your question anyway…
You would be only able to get around 65-70% loan, so you pay a higher deposit. With a Residential Property loan you should be able to borrow more, ie 80-90%.
Also in Commercial Investments, the tenant pays for the water and i think the rates…. damn I shouldnt have left the book at home today…...This is where the experienced investors reply and add a more complex answer…
Im only about 1/2 way through Steves Book, this is what Ive picked up so far…..
Regards,
Arty.
[]The star system seems to keep the topics active, as people are eager to reply to your posts and get more stars….
In that way at least you know that your posts are being read !.
Im a newbie at 35yo, and im hooked on this site already, I finished a Propery Lingo book last night, and im starting on Steve McKnights book 0-130 properties tonight. My wife as never seen me read so much in her life time…
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ArtyI bet you cant get “Administrator” or “Moderator” by heaps of posts.
Just curious, did Steve McKnight create this site ?
I see his name everywhere in here, I found this site after seeing Today Tonight.
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]Hi All,
Im a Newbie to this site.
I bought Steves book yesterday “From 0 to 130 properties in 3.5 years”. And a property lingo book to get started. Im eager to get my teeth into the book and investment.
Before knowing how much you can make positively gearing through leasing this is our history in a nutshell…..*room fades to black…[
]We purchased a house (Melbourne) for $140K around 2000, we sold it this year for $250K. In this time we also bought a vacant 20 acres block on land in the country for $90K, then sold it 6 months later “before we knew about Capital Gains Tax !!!!” for $145K.
We paid the solicitors and the Initial Loans.
We are now in this situation:We have $140K cash to play with ..”all ours”
– no loans
– 2 cars (both paid in full)
– I earn $60K gross per year, as a programmer in the IT industry.
– we are renting back our house we sold (6mths for $5,000 paid up front.) so we can organise ourselves for investing.
– 1 wife, 2 kids, 6 cats, 3 dogs, 2 mice…. []Our long term goal is to be financially independant and live in a nice Farmlet in the country, not working and enjoying the stress free life.
Im mostly through the property lingo book (finish it tonight).. then on to Steves book.
Im thinking I would like to use the “Buy and Hold” method, so we can get an ongoing income, more when the property is paid, and then have the option to sell the property for a profit which could be used to buy more property, etc….
In this situation, where we would like to start generating income and also find our family home to live in. What would be our next step ?
Do we purchase our home first, move in (we need to vacate by December 2003). Then purchase our first investment property to lease to a tenant.
Im growing addicted to this site, keep up the excellent work!!
Regards,
Arty[
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