Jamie

Great spreadsheet. Could you please update it so 2013 is the first year and it goes past 2016 (say to 2020 to give us some room). Please update us here when the spreadsheet is updated.

Cheers

Hi Jamie and Shahin

For the purpose of others watching this post, could you expand for if Carson was looking to purchase multiple properties through his equity.

Hi Sarah

I am interested in your comments here. Have you (or are you currently) doing these courses? Any other comments greatly welcomed!

Cheers,

Hi Waydo

I'd like to re-open this post by eccoing Glen's question about the course you did. Keen to keep finding about renos, costings, research etc etc

Cheers,

Opps, wrong tangent there….

I look in the back of YIP or SPI for the median 12 month growth for the area you are looking at (I would think the calculation will always be a 'point in time' calculation – not something you could calculate now and come back to months down the track).

Good points Jamie and JP….

The fear of 'what happens if'……

I think Robert Kiyosaki sums it up well in his final chapter of "rich dad poor dad' – fear will hold you back everytime, but education and mentoring and taking that next steps will help that fear

Another great idea DWolfe. 

After reading a few books about successful people (the Millionaires series is one I'm reading at the moment), I found a common trait is that they sat down and worked out what they wanted (their goals), then stuck their goals in highly visible places so they were reminded of where they want/need to get to.

I realise this doesn't help the analysis paralysis situation when it comes down to looking at deals but once combined with the other great ideas through this post, it all adds.  

Hi all

I am going to revamp this thread to ask about Terri Scheer LL insurance. As I am about to settle on an apartment and house (2 separate purchases) and reading many positive comments about TS insurance, I called TS who provided a competitive quote, however in talking further with them, they advised that loss of rent is only covered for 6 weeks.

This rang alarm bells for me as in 2010, a tenant had a dryer fire (always make sure they clean out the lint filter!) and after 8 months of to-ing and fro-ing, the apartment was able to be re-let. After reading the TS PDS, if I was covered under their policy, I would have been eating bread and water for the 6 months that the loss of rent didn't cover! Those LLs who have Terri Scheer policies, have you made a claim that included loss of rent?? Am I reading the PDS incorrectly? 6 weeks seems very short, especially when dealing with insurance companies.

My other question is that I have been reading when choosing an insurance policy for apartments, you should choose the company who insures the building (QBE in this case) so the company only has to argue whether the claim is paid for through the building or LL insurances, rather than 2 companies arguing between them who may pay……

Appreciate any comments here

Cheers,

Great thread and many thanks for your insights Terry and JacM. When buying that CF+ve house on today's figures, I am sure many investors don't remember that we are at very low interest rates currently and what happens when the interest rates are back up to the high levels they were a few years ago. While it is easy to just 'put up rents' if the area can't support those higher rents then you have a black hole to support, possibly with the prospects of not breaking even on the sale price either (if employment prospects in the area have all but gone). 

I heard through the grapevine that some developers had rented land to build project homes to sell on. Apparently there are information sessions at CIT (Bruce campus??) about it. From my very vague memory, there is an option down the track to buy out the land where you would own the land and house outright (I'm sure the ACT gov't wouldn't want to hold onto these blocks of land forever…). I may be quite off the track here, but it didn't sound as ludicrous as I initially thought, if I was looking to build a house.