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  • Profile photo of ComsolComsol
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    @comsol
    Join Date: 2003
    Post Count: 38
    October 29, 2003 - 2:59 am

    Hi Simon,

    I had a look at the website and it looks very interesting. I would guess that they are not positive cashflow properties but the risk is a lot less by the sound of things. What are the positives and negatives from your experience.

    You can email me on [email protected] if you prefer.

    Cheers,

    David [:)]

    Profile photo of ComsolComsol
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    @comsol
    Join Date: 2003
    Post Count: 38
    October 28, 2003 - 8:19 am

    Hi Josh,

    I’m still looking into this myself. Probably best to talk to a good solicitor or accountant. (I’ve done both and am still checking it out.) There is a website where you can buy a discretionary trust for $275. I don’t what it’s like as I haven’t used the service but there is a bit of info on the site about trusts. The address is http://www.legalmart.com.au/topics/business/superannuation/trust_more_info.asp. I know there have been other discussions on this forum about the same topic.

    Hope this helps,

    David [:)]

    Profile photo of ComsolComsol
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    @comsol
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    Post Count: 38
    October 28, 2003 - 8:14 am

    Anyone know a good QS in Perth? I always prefer to go by recommendation.

    Cheers,

    David [:)]

    Profile photo of ComsolComsol
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    @comsol
    Join Date: 2003
    Post Count: 38
    October 28, 2003 - 7:53 am

    Hi Terry,

    Any idea of the website address for the article you mentioned by Stuart?

    Cheers,

    David [8D]

    Profile photo of ComsolComsol
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    @comsol
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    Post Count: 38
    October 27, 2003 - 1:23 pm

    Hi jscott,

    No, only Perth metro. I found that talking to RE agents you can get a good feel for vacancy rates as well. The ones I’ve talked to have been willing to show me their rental lists and discuss how many are currently vacant. Of course, they will want to paint the best picture but by talking to several in an area, you should be able to get a good feel for it.

    Cheers,

    David

    Profile photo of ComsolComsol
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    @comsol
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    Post Count: 38
    October 27, 2003 - 12:18 pm

    Hi srlake,

    I bought a report ($55) from REIWA that had the vacancy rates for each local council in metro Perth. I assume each state’s real estate institute has the same.

    Cheers,

    David[:D]

    Profile photo of ComsolComsol
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    @comsol
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    October 23, 2003 - 6:57 am

    Hi Navi,

    I’ve spent months collecting spreadsheet data about Perth (where I live) and to a lesser extent regional areas. Happy to share it with you. Email me on [email protected] if interested. (Anyone else as well.)

    Cheers,

    David

    Profile photo of ComsolComsol
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    @comsol
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    Post Count: 38
    October 21, 2003 - 1:57 am

    Hi to all[:D],

    I agree with everyone here. I’ve read all of RK’s books. At first I was looking for a lot of “how to” but realised that the journey is different for each of us. Eventually, I saw it as a way of thinking differently and that I would have to develop my own “how to”. Still doing this but a couple of years on am further along the road.

    Cheers,

    David

    Profile photo of ComsolComsol
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    @comsol
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    Post Count: 38
    October 21, 2003 - 1:31 am

    quote:

    I am looking for someone who lives in or around Geraldton in WA, to give me a bit of support as I start on my property investing ‘career’. Any takers??!!
    Diana Johnson
    [email protected]

    Hi Diana,

    I, like you, am just starting out in property but have spent many months and hours in the preparation stage. I live in Perth and would be happy to pass on my humble resources to you via email/phone. I have considered looking in Geraldton as prices there are still reasonable but have never been there (originally from NSW) and know very little about the place. Perhaps we can reciprocate. Email me on [email protected] if you are interested.

    Profile photo of ComsolComsol
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    @comsol
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    Post Count: 38
    October 21, 2003 - 12:59 am

    Bryce,

    Another option is to have a fax option installed on your computer (as a printing device). You can then fax straight from the software (or any program for that matter) just as though you are printing. Works easiest on later operating systems such as Windows XP but also possible on earlier versions. All you need is a modem connected to a phone line which you will have if you use the internet.

    Cheers,

    David

    Profile photo of ComsolComsol
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    @comsol
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    Post Count: 38
    October 20, 2003 - 11:32 am

    Thanks Ben,

    Actually, I’ve done some more research and found a few little things that make it less attractive, such as the own has been paying all the outgoings. So I’m not pursuing this one.

    David

    Profile photo of ComsolComsol
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    October 20, 2003 - 11:16 am

    Hi Celivia,

    Yes, I have it and have started using it. As I’m fairly new at this sort of thing I’m still sorting out what all the various costs are. The software, however, seems very comprehensive and they also provide updates for state tax rates, etc. A while back (before I discovered this forum and Steve’s book), I started setting up my own Excel spreadsheet (I’m a computer programmer) but for the amount of time it took, it just wasn’t worth it. Cheaper to spend a couple of hundred and take advantage of someone else’s expertise.

    Hope this helps,

    Cheers,

    David

    Profile photo of ComsolComsol
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    @comsol
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    Post Count: 38
    October 17, 2003 - 9:46 am

    As an addendum, I’ve already polled the vendor to see if he is interested in negotiating price or terms. I offered a 3 year interest only loan on the 25% needed for the deposit but he wasn’t interested. (He’s an old guy and just wants to retire and not bother with deals.)

    Also, if I can’t raise the 25%, I’d be willing to pass it along for a mutually acceptable finder’s fee. (What’s the going rate?)

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