Redwing,

Yeah, I think many societies have this problem – perhaps everyone on the forum is either the first or second generation ??

We are planning on making our kids lives quite tough (i.e. not handing them everything on a plate) so that they aren’t typical third generation people – if you know what I mean.

I think the English call it…[Read more]

Simon,

Pretty cheeky there. If you read Melinda’s post carefully – all her friends have partners, they just don’t want to get involved financially.

Melinda, if for some reason your parents werent there, eg. overseas, what would you do ??

Also, what are 18-25 yr old’s standard expectation of accomodation ?? Do you need to be in a place that is…[Read more]

Hi Redwing,

Out of the 300K, what value is the dirt worth ?? Is it up around the 70 to 80% mark ??

Cheers,

Dazzling

“No point having a cake if you can’t eat it.”

Hiya springchicken,

As requested, please find a couple of comments based on your figures presented ;

1. Well done on where you are right now. At 23 you are going great guns.
2. Let the debt hang for a while. Grow accustomed to it for a wee while.
3. Your breakeven percentage is only 1.8% (16/890). When I started, my portfolio breakeven…[Read more]

Excellent to see so many people contributing, even some first timers – well done.

I’m waiting for the first motorbike riders to show up. Who’s got a ’93 Fatboy or a ’54 Panhead ?? Probably not too practical for housing purposes – but great for scouting opportunities.

Abby – loved the “it’s a white one” description.

Cheers,

Dazzling

“No…[Read more]

Yeah – not bad….except it missed a couple of things…what did the wife do all day ??

1. It doesn’t mention the wife fighting the traffic and rat race to get to work.
2. It didn’t mention the wife grinding through a day in the office or out in the sun digging ditches all day.
3. It didn’t mention a nasty and vindictive control freak boss who…[Read more]

Well we just finished our weekend last night. Where I am weekends start on Wednesday night.

We work 7 days a week, so worked all weekend.

Ah, Saturday morning – start of the working week here. This is the worst time of the week for the locals. Sounds great doesn’t it ??

Cheers,

Dazzling

“No point having a cake if you can’t eat it.”

Wow Abby, great to see you posting.

Would love to hear some of your recent development successes. I think the whole forum could learn bucket loads from your experiences and “go get’em” attitude.

In regards to the Perth meeting thing, you conveniently forgot to mention the little club you got going. Now don’t be shy. I thought you did an…[Read more]

Hi Rob and Janice,

To my mind you’ve only asked 3/4 of your question…what’s your intended purpose ??

How many properties of a certain value should you own…..

a) to give you a headache ??
b) to live like a king ??
c) so it takes 10 weeks to inspect them all ??
d) so you can leave paid employment tomorrow ??
e) to be wealthier than all your…[Read more]

Linar,

This exact scenario happened to us 18 months ago.

The bank sent a wet behind the ears valuer around (naturally escorted by the REA). The REA knew the bank was operating on our behalf. During the inspection the wily and shrewd REA managed to squeeze the final figure out of him.

The next Saturday afternoon during a home open the REA…[Read more]

Fascinating to see the responses so far.

“Where are all the really flash cars – the Benz’s and BMWs ??” Good question giddo…

What were people’s initial expectations ??

Any more people like to share ??

Cheers,

Dazzling

“No point having a cake if you can’t eat it.”

Hey Thomas,

Thanks for the PM. Agreed. Good luck with ’em.

“Wouldn’t be that sorry for them to leave as they over react to issues and then don’t let people in to fix.”

I’m hearing ya. One of the many reasons we dumped them.

Have you noticed how big institutions who are focussed on making serious money in property also don’t play the silly…[Read more]

thomasp,

I’d like to help you, and have a bunch of contact companies / names / phone numbers and email addresses in my study. Unfortunately I’m not in Perth at present and therefore don’t have access to the required info.

Having just recently gone through the sqm process with A/C consultants for our PPoR, the common thread running through the…[Read more]

Yes Megan you are correct. My post purely related to cashflows between the two situations.

If capital issues are introduced, you are exposed to the growth (or loss) by purchasing.

The ‘differential cost’ of ownership in the first case is $ 69 p.w. ($ 3,588 p.a.). Therefore, the property needs to grow by only 1% p.a. for you to break even with…[Read more]

Hmmmm, ‘rent is dead money’….

1. Suggested Solution

Purchase Price $ 350K
Purchase Costs $ 18K
Outlay needed $ 368K
Deposit $ 100K
Loan $ 268K (76% LVR…OK)
Interest rate @ 7%
NTDD Interest per year = $ 18,760
Annual Outgoings = $ 2,500

Total needed per year to fund purchase = $ 21,260

Ownership ‘dead money’ = $ 409 p.w.
Rent ‘dead…[Read more]

Hi Jonesy08,

We struggled with the same issues as you are now going through. It was very tempting to sell one IP to upscale into the new PPoR and bunny hop your way around the place.

We chose not to do that, instead buying a smaller, less expensive PPoR on a decent chunk of land and hold onto the other IP’s and let them tick along. In the end,…[Read more]

Fair call F, pretty solid strategy.

We could point to a few suburbs (smelly industrial ghettos about 5km from the CBD) that haven’t grown in the past 4 or 5 years, but are primed to take off (IOHO) and we’ve jumped in boots and all.

HRM, I think GR is getting at asset protection – when you are doing big developments, don’t let your PPoR get…[Read more]

Hiya Jenny,

When you say “any ideas”….do you really mean any ideas at all ?? Are you open to all suggestions ??

Here’s mine..for what’s it’s worth. (it’s a repeat – you’ve heard it before, so probably not a lot !!). [blink]

When you were purchasing this place back in April I sent you a cracker of a little shop leased out for 3 years.…[Read more]

Well hiya Mr & Mrs Cupcake,

Love the name – good choice !!!

I believe full understanding and knowledge of your subject matter, along with hands on experience will be the best cure for your initial fears.

If you have a fantastic lifestyle now, and do not in any way wish to compromise that, you might find it a tad hard when first starting out for…[Read more]

Courtesy of Jaffasoft (see sticky at top of Help section)

https://www.propertyinvesting.com/forum/topic/6845.html