Geez…..sounds like most of the Broker’s don’t like any of the big guys….walking from N, C and A.

That only leaves W…..hopefully we don’t put them in the same pot, otherwise the whole thing turns into a big WANC ?? [blink]

For me, I’m happy with the “drive by”, as it’s the dirt I concentrate on.

We got a valuation done just 2 months ago…[Read more]

Paid $155,000 nine years ago
Put $30,000 into it (re-roofed, a/c, new kitchen, huge back deck etc)
Worth $550,000 (perhaps a little more)

Hi Wylie,

With your 185K rising to 550K in 9 years, you’ve achieved compounded capital growth of 12.85% p.a. I’d be very happy with that – well done indeed.

That of course ignores rental income, so your…[Read more]

I know of a man who finally received his 600K (after he paid his lump sum tax thingy) super payout about 6 years ago.

He had a good lump of Telstra shares which he and his wife lived off the fully franked dividends. Anyway….(I’m getting there)….

Against all financial advice, he went to his Bank of 40 years, and they extended to him a loan…[Read more]

Originally posted by wealth4life:
Yes we looked at Perth as well and found it far too expensive compared to say Queensland which has all the factors of better growth.

Queensland is moving backwards now and we have identified some great deals especially small shopping centre complexes as we are getting bored of investing in houses and puting up…[Read more]

Rent it out.

Hiya Cata,

For us it’s the great big wallchart we have up on our bedroom wall, above our study. First thing I see in the morning and the last thing I see when I go to sleep…..when I’m there of course.

The chart is now over 12 years old and has diligently tracked our debt and net worth over that time.

The debt is a big smear of red and the…[Read more]

Excellent work camden….very inspiring story indeed, and likely to improve further when you get units 5 and 6 up and running. I bet your finance provider thinks you are a top customer.

Now where did you get that idea about getting off your bum and out from behind the computer and mixing it with the real world ?? Do you mean life cannot be…[Read more]

The only other way…..

Not sure this is correct….there are absolutely heaps of ways of creating +CF.

Good onya Wake. You appear to be a competent and intelligent property investor. These type of investors usually get frustrated with the service providers they deal with…..especially the lawyer types who naturally assume you are all cloth ears and really really really need their help in every matter.

As you’ve found out via experience this is…[Read more]

G’day Mee Chee,

As per your thread title, the easiest way to maximise your salvage costs is to simply pick up the phone and get quotes from say 3 or 4 local salvage companies who do this sort of work all the time, and then simply choose the highest quote.

If on the other hand, you wish to minimise your costs, you may be able to get the company…[Read more]

We’ve used settlement agents for every purchase. We are in WA where they are far more common and significantly cheaper than using a solicitor. Sounds like there is a big market opportunity in other states as this doesn’t seem to be the case

Never used a solicitor for purchasing property….nothing has been that complicated that it has warranted…[Read more]

how much money are each of the moderators worth

My 3 kids kids reckon I’m worth ‘the world and beyond’…that may change as they get older…. [blush2]

what is their opinions on wealth creation.

I reckon steady steady as she goes is a pretty good model. Preparation / neat filing / organisation and all of that other boring paperwork type…[Read more]

I reckon this one depends a bit on what is happening to the broader economy in the state at the time.

One thing I’ve learnt in Perth during the past 20 years I’ve been observing the broader market……and that is no matter what is happening nationally, at any point in time there is always one or two local industries that are absolutely…[Read more]

I’m in the same boat as you audrey.

Never bought a vacant block of land but just about to take the plunge.

We are looking at 120 acres at the moment some 25km from the Perth CBD.

We have no intention of building anything on it in the short term…..but plan on digging it out and selling the sand (a big sand hill would be perfect) and then apply…[Read more]

You missed my entire point. I was making no judgements on any group. In fact your examples support my point

Matey, I got your point and agreed with it. I agree you weren’t making any judgements. Hopefully my examples did support your point, that was the intent…..gee whizzy !!!!

How about we firm up what it means to “make it”…..that’s…[Read more]

F,

Good post, and I can see where you are coming from – or more to the point going to.

A few things….

1. What happens when the strongarm boys come in, beat up the teacher and take over the lucrative lolly market.
2. The parents think the school isn’t good enough for little Johnny, and are happy to pay the neighbouring private school 1,000…[Read more]

Some of the wily old Greek and Italian gentlemen I bump into occassionally out in the industrial back blocks certainly fit that mold you describe Simon.

They can’t speak very good English, they cannot read or write, they don’t own a computer and have never “surfed the internet”.

Yet, when it comes to savvy property investors, I’d confidently put…[Read more]

Knowing absolutely nothing about the Canberra market or to that which you describe, but having dabbled in a RIP or two, I’d be guessing that the block of dirt alone would be worth 1.5 to 2 MM, with no house…..so I’d reckon, as with most other RIP’s, you can forget about anything resembling cash flow positive.

In fact, that would be my question…[Read more]

Originally posted by dai888:
Would you be willing to sell me your property for what you owe on it? If so I could possibly buy your property today. (cashens@sonnet.com)

In answer to your fantastic question – absolutely yes.

This is excellent, right up my alley. I’ve got plenty of complete dogs of properties, all worth about 80K, but I’ve hocked…[Read more]

I became extremely depressed. This went on for days.
My husband came home finding me in tears again

Hey ya Amanda,

Chin up matey – you sound as if you are both doing great guns. Nothing comes easily if it’s any good. Just as you plow through the boggy bits, you’ve gotta realise you’ll come out the other end stronger and more…[Read more]