Forum Replies Created
if i had 600g
i would target future capital growth areas that
will attract baby boomers by the sea.
leave a little in the kitty for emergencies.
create an asset,commercial,business,accomodation.
just ideas.stepping out of the comfort zone is the go…
have u noticed when your blood pressure goes up
u have to control your emotions(fear).for days.
the feeling after u have just done a r.e deal .
thinking gee i hope i have done the right move here. u have to back yourself no one else will.
fun part is making the big decisions at work i dont get to make the big decisions.
i have been taking risks with flip sales of land
the bank says i cant afford them so i have to on sell before settlement just sold 1 yesterday
which relieves the fear,small profit too..
real learning is when u lock into a deal.units u lose your independance.
renovation time u have to fork out and
may lose all your +/cflow.my guess is similar to chans.
forget about the timing look at the investment
by itself.
if u make money from that investment u are simply on the right track.
regardless of when u purchased it.speed up the process with cg.
u cant achieve this with most rural towns.
capital gain works harder for u than small profits from rentals.
find the needle in the hay stack
rural with future growth.
gereldton thats my answer for us in w.a.pete
i,ve done flip sales on blocks of land in w.a
and always had to pay stamp duty.do what most people hate to do.
go thru the fine print of the real estate pages of the sunday times etc.
there is stacks of deals.
then get on the phone and ask questions particulary the numbers.this investing game is a long road.
most of the people on this site are passionate about property investing there for think and breathe it.
u definately need to study it just to know the vocabulary.then u have a better relationship with your advisors.
with anything it takes time to get good at it.
i thought i could do it quickly but i realize there is no finish line.
the best part is i have found my passion.
if ya keen u will seek plenty of advice.melbear
i got a quote for the insurance from westpac.
it costs a little more because i have to insure both units seperately.
but i must admit i did over estimate the maintenance.
i like the idea of strataing.
its still up for sale i was gonna have a look when i get time off. pictures look o.k needs a clean up definately.thanks all for your tips.equity should grow quicker with 4 properties.
depreciation puts more postive c/flow in your pocket.
equity seems to be the best way of makin a quid u certanly cant save a million dollars working day to day.qaulity property i think is the g o.hi dan
i have a few tapes of robert kiyosaki.
he says that the reason why most of us struggle is bcause we buy everything with after tax dollars.
he buys property with his company b4 tax.
with his properties he buys his ferraris.
sounds easy ha..
in your case u may have the same options.im employed and are rattling my brains on how to jump on the other side.(a b4 tax spender/buyer.)
he lives in america so laws may differ in many cases
but get some specialized advice in the that area.steve
if u come to perth to do a seminar.
i will do security work for u free of charge .
as long as i get to listen.b/boyyes i think there needs to be some sort of form/record that the vendor has to sign to say that he has seen the offer.otherwise i get the feeling the r/e agent is doing the sly.ask for the r/e principal to oversee this and tell him your situation.
from what i have read all offers must be pasted on…thanks for the the detailed reply jaffa.
i have no deposit for it .oh and the bank said they liked the return but said i should keep looking for a more capital growth area. bassically didnt recommend the area i wanted to purchase.bank manager suggested a few towns to check out which he thinks will have high growth in the future.he said he had some clients investors buying in these areas graet having a yarn to him this is learning the ropes each and every interview love it.thanks again…u investors shouldn,t be to worried regardless which party is in power. the laws will always be designed for the investor and or the rich guy there the ones that seem to make the rules.america now has negative gearing so i doubt there would ever be a reform.if there ever was can u imagine the r/e buying oppurtunities.
thanks simon
suppose i better find a good accountant and quantity surveyor.thanks for your positive replies crew.
i know with my house it has a seven yr structual garuntee if this is a reasonably new house u might be able to get their builder to check it out and repair before purchase with no costs.
thanks suze.
judging by all the replies my topic must be a little mumbo jumbo or boring which is understandable.
basically what i am trying to say is i cant find a return with better numbers on a property than this and i still dont make a cash return.
i might get a tax return but the idea is to bump up the old weekly earnings so i can eventually slow down at work.
negative gearing u have to become a slave to your property to service the loan.positive gearing seems to be fluffing around with small amounts to with no capital gains.i would love to see what steve is showing them in his millionare map classes.i am disheartened a little at the moment as i have been pre approved by the bank to buy. but cant find cashflow pos.dont worry i dont expect good things to come easilythanks for the great replies. i think my sequence is to
buy negative geared properties first to acquire equity then buy the p/$flow to make the repayments for the -geared investments.only problem is i am buying at the peak of the market .
i know oppurtunities are around all the time regrdless of the state of the market so low offers is the key eventually someone will be motivated enough to sell to me.cheers .
