Forum Replies Created
It was a great 2017 conference. I got what I need to move my investing to the next level. It was so inspiring to hear Lisa and Cherie, two motivating and successful Australian business women.
DaleHi Steve
I loved this year’s conference. They are always “must attend events” for me, and this year I got lots out of hearing for the first time speakers such as Daniel Flynn (what an inspiration) and Daniel Gibbs (he is one smart guy). They both opened my eyes to new possibilities for myself.
Many thanks to you and all the team for making it such a great event.
Dale
I have actually been trying since last year, you will see my earlier post from last October. It sure is an item a few of us would like.
DaleAnd so is Simon Buckingham, Brendan Kelly and Dean & Elise Parker.
The ticket has been claimed by Nora from the Results program – she was the 1st person to make direct contact with me on my mobile.
Have a great time Nora and everyone else attend the 3 Day Mega Event.
Dale
Sydney Inner West
I attended an auction of a 1 bed unit, no parking, art deco building, advertised at $350+, went for $433k. I was a bit shocked and thought it was overpriced. 2bed house advertised at 550+ auctioned for $680k. Knock me over with a feather.
Dale
Tennat pays. Tennant has connected the power in their name. If this is not the case get it sorted out now. They connect the power and disconnect it with the poer supplier when they leave. All liabilities are the tennants.
Dale
Steve always was looking at Cash on Cash return – how much cashflow in compared to personal cash required to put into the deal. The resulting percentage can then be comapred to current rates elsewhere e.g. bank, stock market.
Derek has got the idea – to get cash flow pos requires value adding.Dale
Hello bewildered
What is it you want and what was it you wanted in the first place from this deal.
If it is money, is there currently money in it if you go ahead.
If you sell do you make money.
Perhaps this is an opportunity to turn a negative situation into a positive one so that you ultimatley feel good about it.Dale
Hello New Collector
Good on you for taking the first steps, and for asking for some tips.
I take it you are looking for a cash flow positive property where the rent brings in more than the expenses. It is very hard to find these in the current market. Basically you are looking for a rent return of 10.4%pa. So a rent of $250 pw to be cash flow pos would require purchasing the property for $125k or under! You probably haven’t seen too many properties for sale at this price for a number of years.
At the moment you will have to make the profit by renovations, subdivisions or some other way to value add.
Steve’s 2nd book is a really good resource to learn more about how to make profit in any market.
All the best with it.
Dale
I use excel spreadsheets and an exercise book for each property in which I keep everything.
Simple, cheap, works.
Dale
I have a manging agent who always provides me references from past landlords and work history of prospective tennants. He interviews them and provides me feedback from which I make a choice. I never personally meet my tennants, that’s the managing agent’s job.
Dale
Hello vishi
Whilst I can’t recommend builders in your area what I have done in the past is noted down the builder’s name from the front of other building developments in the areas I have been interested in, and given them a ring. Plus I had a good look at what they were building, from the street. Watching the project from the street does give a lot of information.
Dale
The baby boomers have already started the sea change and tree change phenomenom and lots changes that we are in the middle of.
So to those people worrying about what effect the baby boomers will have, stop worrying, you have been living it anyway.
Dale
Love your mission statement. Very inspiring. I am going to write one of my own now.
Dale
Hello Dreamscape
There is a dedicated area for you to post your questions. It is labelled under RESULTS in the Forums section. You will find there are meetings noted there and lots of other networking opportunities for all the RESULTS 2 participants.
Dale
In the current east coast market reno’s are working. It is a market still to hit bottom. WA and boom? Do you need to value add in a boom? Maybe a coat of paint? Hitting the top of the boom? If you think you are near the top it might be time to look at another market or just hold off for a bit.
Dale
What do you think of the deals? What are the Cash on cash returns? What are the gross returns? The areas don’t matter, the numbers do.
Dale
Immigration, government policies to increase birth rates, drought and weather change pushing people into places with water supply, “lifestyle” choices by baby boomers and others wanting to live near the beach/restaurants/nice weather and more.
There are so many factors affecting where people want to live that the possibility of booms and busts is high for a very long time, despite Mr Salts’ opinion.
Dale
I think the book that prints the next growth areas for real estate is the same book that has next Monday’s lotto results.
Steve McKnight’s books are very good, I recommend them, Sanctuary. I learnt lots.
Best of luck with it.
Dale
