Forum Replies Created
- Originally posted by babu88:
I meant to post this weeks ago, Myer in Sydney City has 0 to 130 properties book for $20 (rrp $30). I bought one yesterday as a birthday gift for my girlfriend’s 20 years old daughter who shows some interested in learning about investment. She is reading heaps of books from library at the moment – I told her to do that first before launching straight to action.
That’s a great price for the book!
Buy them all! 33% under market value! Plus they’re a collectors item [biggrin]
Brent Hodgson
PropertyInvesting.com
Admin ManagerI’m going on a property buying tour!
Want to receive the e-mail diary of my trip, hear about some of the great Positive Cashflow deals I find, and perhaps discover some great opportunities for yourself? e-mail or PM me!
Hi spider2,
You might get more people replying if you posted in Guru Watch, General Property, or even Opinionated…?
Brent Hodgson
PropertyInvesting.com
Admin ManagerI’m going on a property buying tour!
Want to receive the e-mail diary of my trip, hear about some of the great Positive Cashflow deals I find, and perhaps discover some great opportunities for yourself? e-mail or PM me!
Originally posted by Prop16:
Does anybody know why the website doesn’t open when I click on a link? Is something wrong with my security settings?
Thanks for your response!Hi Prop16
I know it’s a stupid question, but if PropertyInvesting.com isn’t opening…. how did you post your message? [blink]
(maybe I’m just slow at this hour of the night)
Usually with web-site problems, the more detail you can give, the better. It helps us to pinpoint the problem and develop a solution
If you can do this for me, I’d be really appreciative.
Thanks
Brent Hodgson
PropertyInvesting.com
Admin ManagerI’m going on a property buying tour! Want to receive the e-mail diary of my trip, hear about some of the great Positive Cashflow deals I find, and perhaps discover some great opportunities for yourself? PM me!
Hi Marty,
Open up a copy of the Age, Sydney Morning Herald, Courier Mail, or whatever your local broadsheet is on a Saturday and look in the classifieds for people advertising under the heading “Money”. There are people there who will lend money to investors for second mortgages, or as unsecured finance.
The interest can be expensive, but it’s worth looking into.
Brent Hodgson
PropertyInvesting.com
Admin ManagerI’m going on a property buying tour! Want to receive the e-mail diary of my trip, hear about some of the great Positive Cashflow deals I find, and perhaps discover some great opportunities for yourself? PM me!
The 11 second solution is a quick filtering tool which helps find properties which are likely to be positive cashflow. (ie – rental properties with high rental yields).
It’s not really relevant for wraps (rather, rentals), and isn’t the be-all-and-end-all of investing. (be careful about this because I suspect that some agents are using the 11 second solution against investors in some areas)
The best use for the 11 Second Solution is when you have 100 deals on your desk and you want to find some great yields amongst them
Brent Hodgson
PropertyInvesting.com
Admin ManagerI’m going on a property buying tour! Want to receive the e-mail diary of my trip, hear about some of the great Positive Cashflow deals I find, and perhaps discover some great opportunities for yourself? PM me!
Hi KFJ,
Coz’ I’ve always got my ear to the ground [suave2] (really, because I work at PI.com), I’ve heard about some financiers coming up with finance products designed for wrappers.
These products have gone through their trial run, and are now on the market permanantly.
I don’t know how good they are, having never used them, but perhaps one of the mortgage brokers can help out here?… Simon? Stuart? D’you guys have any contacts here?
Brent Hodgson
PropertyInvesting.com
Admin ManagerI’m going on a property buying tour! Want to receive the e-mail diary of my trip, hear about some of the great Positive Cashflow deals I find, and perhaps discover some great opportunities for yourself? PM me!
Hi Rakky,
It’s always best to stay on the ‘friendly’ side of the law. If the ship hits the fan, you want to be able to show people you did the right thing.
Go get some legal advice on this in your state. Your rights, obligations and how you should act under ‘best practice’ changes from state-to-state.
Brent Hodgson
PropertyInvesting.com
Admin ManagerI’m going on a property buying tour! Want to receive the e-mail diary of my trip, hear about some of the great Positive Cashflow deals I find, and perhaps discover some great opportunities for yourself? PM me!
Hi Inna,
When you said “Wrap my parents”, I had visions of someone selling their parents on an installment contract![laughing]
Perhaps there’s a win-win outcome where your parents live in the property (perhaps pay rent?, perhaps a lease-option), and allow you to use the equity in the unit to invest in other deals. No stamp duty etc..[eh]
It’s cool to help out, but what is YOUR outcome? What goal are you trying to achieve? What do YOU get out of it?
Is doing the deal for your parents the best outcome for everyone involved?
I don’t know – this is something only you can say.Brent Hodgson
PropertyInvesting.com
Admin ManagerI’m going on a property buying tour! Want to receive the e-mail diary of my trip, hear about some of the great Positive Cashflow deals I find, and perhaps discover some great opportunities for yourself? PM me!
Accountants are always the best people to speak to for tax advice, but you may get a better response on the forums if you use the Legal and Accounting forum.
Brent Hodgson
PropertyInvesting.com
Admin ManagerI’m going on a property buying tour!
Want to receive the e-mail diary of my trip, hear about some of the great Positive Cashflow deals I find, and perhaps discover some great opportunities for yourself? e-mail or PM me!
Originally posted by RussH:If it is a commercial property you are required to put up 20% deposit and I guess for res. it depends on your circumstances and what the bank will lend..If you use 20% deposit then you dont need mortgage ins.Brokers will tell more.
So many +CF properties in Western Australia.Let me help you. And we can achieve a win win situation.Russ.
Keeping an 80% LVR (or better) also tends to keep the banks on your side when it comes to giving you money.
Brent Hodgson
PropertyInvesting.com
Admin ManagerI’m going on a property buying tour!
Want to receive the e-mail diary of my trip, hear about some of the great Positive Cashflow deals I find, and perhaps discover some great opportunities for yourself? e-mail or PM me!
Originally posted by richmond:why don’t you guys send russ a PM and get in touch that way?
Ahh, Richmond – always such a lateral thinker [biggrin]
Can you upload pictures? The short answer is no. The forums CAN allow people to add pictures to their posts, but we’ve turned the functionality off.
There are a few reasons;
1- If it’s on, it tends to ‘tempt’ people to upload huge/lots of pictures, burning up bandwidth, costing PropertyInvesting.com money and leading to really long load times for dialup users of the site.
2- We don’t want people to upload properties which they have for sale and use PropertyInvesting.com as an online listing service. (Really, we want to stay away from ads all together)
3- It difficult for the moderators to police appropriate posts at the moment – not to mention inappropriate pictures – including checking whether pictures are under copyright.
We weighed up the options, and decided to keep picture-posting off.
Brent Hodgson
PropertyInvesting.com
Admin ManagerI’m going on a property buying tour!
Want to receive the e-mail diary of my trip, hear about some of the great Positive Cashflow deals I find, and perhaps discover some great opportunities for yourself? e-mail or PM me!
Yep – flexibility is a big factor. But what about protecting your empire?
If you were a banker, would you want your clients to cross-collateralise / cross-securitise?
Sure you would!
Cross collateralisation is awesome for the bank’s risk in the deal – if one property deal falls over, the bank has every other property which they can come after. (I always thought that’s what cross-collateralisation literally means – multiple properties being used as collateral on one-another.[eh])
For your own asset protection point of view, is it something which you’re prepared to do?
From what I’ve seen, most people have a choice whether or not to do it. I guess I’m just a little confused as to why people would choose to Cross-Coll. to begin with..[confused2]
Brent Hodgson
PropertyInvesting.com
Admin ManagerI’m going on a property buying tour!
Want to receive the e-mail diary of my trip, hear about some of the great Positive Cashflow deals I find, and perhaps discover some great opportunities for yourself? e-mail or PM me!
Does anyone know when the Melbourne property expo’s are on this year?
Brent Hodgson
PropertyInvesting.com
Admin ManagerI’m going on a property buying tour!
Want to receive the e-mail diary of my trip, hear about some of the great Positive Cashflow deals I find, and perhaps discover some great opportunities for yourself? e-mail or PM me!
I reckon the good thing about shows like Location Location, internet forums, and the right books is that for next-to-nothing, you can learn about these ‘tricks of the trade’ which agents use – and be aware of them.
I haven’t had much experience with auctions, so I know I learned something from reading this thread. Thanks yack for sharing [smiling]
Brent Hodgson
PropertyInvesting.com
Admin ManagerI’m going on a property buying tour!
Want to receive the e-mail diary of my trip, hear about some of the great Positive Cashflow deals I find, and perhaps discover some great opportunities for yourself? e-mail or PM me!
If you’re after an accountant, I’d certainly put a call into Dale Gatherum-Goss – from what I’ve seen, he knows property and tax in Australia, so give him a call and see whether he would be a good ‘fit’ for your team.
If you want to read an article which he wrote, check out this wraps discussion paper report..
https://www.propertyinvesting.com/article04_07.htmlBrent Hodgson
PropertyInvesting.com
Admin ManagerI’m going on a property buying tour!
Want to receive the e-mail diary of my trip, hear about some of the great Positive Cashflow deals I find, and perhaps discover some great opportunities for yourself? e-mail or PM me!
Just confirming that the book Steve refers to IS Robert Allen’s book “Nothing Down for the 90’s”. I believe there is a prequel and sequel to the book. I haven’t seen it around much – probably the best places to try would either be online through a site like Amazon, or through a large chain like Borders.
Also, make sure you check out the article which Steve wrote on creative financing at https://www.propertyinvesting.com/strategies/creativefinancing.html – it’s well worth the 10-or-so minutes it takes to flip through and think about.
Brent Hodgson
PropertyInvesting.com
Admin ManagerI’m going on a property buying tour!
Want to receive the e-mail diary of my trip, hear about some of the great Positive Cashflow deals I find, and perhaps discover some great opportunities for yourself? e-mail or PM me!
Hi KiwiZena,
I know you can’t always look into a crystal ball and predict the next boom suburb, but if you wanted to have a look at some historical figures to help you out, the REIV has a cool tool which allows you to compare median price trends and performance for Melbourne suburbs (or at least they had it last time I checked).
Check out http://www.reiv.com.au/information/pg_info_medianprices.html – with a bit of luck it will still be around.
Brent Hodgson
PropertyInvesting.com
Admin ManagerI’m going on a property buying tour!
Want to receive the e-mail diary of my trip, hear about some of the great Positive Cashflow deals I find, and perhaps discover some great opportunities for yourself? e-mail or PM me!Originally posted by Still in School:
for some reason too, i cant post long post, if i do it will not send at all and the page will lag, for long times and will never send through that post….… the way ive been able to get round it, is to cut my post in half and send one half at a time …
Cheers,
sisI know that there is a thang where if you take more than 20 minutes to type a post (in very simple terms), the forum can ‘forget’ about you.
Brent Hodgson
PropertyInvesting.com
Admin ManagerI’m going on a property buying tour! Want to receive the e-mail diary of my trip, hear about some of the great Positive Cashflow deals I find, and perhaps discover some great opportunities for yourself? PM me!
Hi,
As I said to someone late last week, if anyone has a problem with how a moderator has dealt with with an issue, e-mail or PM me directly. I will look into it, and deal with the problem as necessary.
I think that the bulk of the time the Moderators do an awesome job – particularly since they’re freely volunteering their time to help run the PropertyInvesting.com forums. But we’re all human, and sometimes intentions aren’t read well over the internet, so it’s easy to make mistakes.
But please don’t make posts which could be personally offensive to someone else. It’s easy to forget that behind the internet, there’s another person (just like you) reading what you have to say. If you’re unsure, just ask yourself “Would I say what I’m saying directly to this person in real life?”.
So again, to reiterate what I’ve just said, if you believe you’ve been unfairly dealt with on the forums, e-mail or PM me directly.
Brent
Part time Forum Judge, [smash]
Part time PropertyInvesting.com Admin ManagerThis has run its course.
