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  • Profile photo of BennettBennett
    Participant
    @bennett
    Join Date: 2005
    Post Count: 7
    June 30, 2005 - 2:59 am

    Thank you all for the replies. Can someone explain what the definition of ‘permanent casual’ is? I am likely to be put on a casual contract on a six month basis. It wont specify hours I work, and as casual I can leave / be fired with one weeks notice.

    Is this the same situation as what you all are referring to?

    Thank you for the advice, it is comforting to know I still have the potential to invest :)

    Profile photo of BennettBennett
    Participant
    @bennett
    Join Date: 2005
    Post Count: 7
    June 1, 2005 - 1:04 am

    Hi Luci,

    Thanks for the reply. I have now finished Steve McKnight’s book and thought it was quite good. However, it probably doesnt go into quite enough detail into actual techniques to find postively geared properties – it describes some methods but doesnt really explain how to make those methods happen.

    I guess at the moment I am stuck when it comes to finding properties at a cheap enough price to be able to rent out above interest repayments. Are there any general techniques to find properties like this? For example some people speak of buying properties from banks that are in forclosure – has anyone done this? does anyone know of a starting point to find more information regarding this?

    I appreciate all the replies and some of them have definitely given me something to think about :)

    Bennett.

    Profile photo of BennettBennett
    Participant
    @bennett
    Join Date: 2005
    Post Count: 7
    May 31, 2005 - 2:18 am

    Hi Nieco,

    Thanks mate, thats great news. Also a very good guide on how to get started. Do you think you could email me some of the website / investment forums you have been following? Email is shamad at iinet dot net dot com

    Congratz on your first buy – sounds like a doozy :)

    Profile photo of BennettBennett
    Participant
    @bennett
    Join Date: 2005
    Post Count: 7
    May 31, 2005 - 1:51 am

    Hi Paul,

    Yeah, I was talking about the buy and hold strategy (ie. trying to get positive cashflow from rent). But as I said, seems very hard to find a property that is cheap enough for the rent to outweigh any interest repayments.

    Could you be more specific as to the other strategies that are looking good? Perhaps now as the interest rates rise, housing prices will fall and it might be easier for me to find good ‘buy and hold properties’. What other strategies might be worthwhile in the next few years?

    I am nearly finished the book but would appreciate any information yourself or others could share.
    Bennett.

    Profile photo of BennettBennett
    Participant
    @bennett
    Join Date: 2005
    Post Count: 7
    May 30, 2005 - 6:49 am

    Hi Paul,

    Thanks for your reply. Yeah I have taken a look at those sites and Im also in the process of reading 0-130 properties in 3.5 years.

    Looking at the current market and assuming interest rates rise to roughly 9%, it is very difficult to see how I can find an investment property that can be positively geared. I know that I am not the first person to realise this and I am sure it is not impossible to find positive cashflow properties – however I also believe it is not as easy at it is perhaps suggested in Steve McKnight’s book :)

    I would be very interested in hearing how people have managed to find positively geared properties recently :)

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