One thought… how does one afford it

I suppose it all comes down to your definition of “landbanking”.

Our technique could best be described as “+CF Landbanking”.

If you want 100% of the value tied up in the land…..that’ll send you quickly out the back door…..generally speaking. It may work for some, but cannot be sustained forever.

We…[Read more]

Grossy,

We’ve simply got to get together and have that beer / scotch…..talk about deals etc….

I fly back into Oz today, so everything is looking rosey…..back from Pitsville and raring to do a deal….

You surf the net your end, and I’ll have a quick skim over here and we’ll compare notes [biggrin]

i dont want to sound ignorant but i have spent the last 6 months looking and cant find a single one?????? i have scoured all the states to no avail.

That’s amazing…..how on Earth did you look at every property in the entire country for sale in only 6 months ?? You must be physically exhausted. I’m exhausted just thinking about even 1% of…[Read more]

We have just purchased a modest sized industrial building

Sorry pf…can’t help with the bee question, but congratulations on the purchase – well done…..care to share some of the details of the deal for all to learn from ?? Was it tenanted or taken on with vacant possession ??

Nat is not good at showing humility – this is about as good as it gets I suspect.

No kidding Simon…….

I’ll be keeping my eye on this thread as well, and if it doesn’t get back on track to something remotely related to ASIC……instead of…..what’s currently on the boards…..we may need to have a closer look.

Nat – R, despite the lack…[Read more]

Did you turn it into an office? Demolish and rebuild?

<font color=”navy”><font size=2><b>None of the above. That’s a residential mindset.

The Lessee has applied for a License from the council to turn it into a state of the art recycling depot. The License has been approved but is pending on the Lessee being forced to spend ± 150K doing up o…[Read more]

Did you turn it into an office? Demolish and rebuild?

None of the above. That’s a residential mindset.

The Lessee has applied for a License from the council to turn it into a state of the art recycling depot. The License has been approved but is pending on the Lessee being forced to spend ± 150K doing up our property. He needs to c…[Read more]

Sorry to sound like a cynic, but I am happy to be proven wrong. Anyone???

<font color=”navy”><font size=2><b>Aussiecam and leewizza,

If you are looking for definitive proof that can be submitted in a court of law (is there any other kind ??) then logging onto an internet chat forum is simply not the medium for you.

What I can do for you is…[Read more]

Sorry to sound like a cynic, but I am happy to be proven wrong. Anyone???

<font color=”navy”><font size=2><b>Aussiecam and leewizza,

If you are looking for definitive proof that can be submitted in a court of law (is there any other kind ??) then logging onto an internet chat forum is simply not the medium for you.

What I can do for you is…[Read more]

Sorry to sound like a cynic, but I am happy to be proven wrong. Anyone???

Aussiecam and leewizza,

If you are looking for definitive proof that can be submitted in a court of law (is there any other kind ??) then logging onto an internet chat forum is simply not the medium for you.

What I can do for you is relate our latest deal (detailed on…[Read more]

giving me a 7% net return, so when borrowing at say 6.6%, it is positively cash flowed from the start.

Only just…. surely rates and insurance eats into that profit? Have you factored in a repair budget as well?

I use the term “nett” to mean everything has been paid for except the mortgage. Maybe my definition is different to others.

If a…[Read more]

<font color=”navy”><font size=2><b>Good onya Adam for starting a thread like this….maybe if we ask one of the Mods nicely they might make it a sticky. [upsidedown]

To follow with your post, perhaps my best suggestion when you are starting out is to take 6 months to chat with people in the game. I take every opportunity I can to chat with…[Read more]

<font color=”navy”><font size=2><b>Good onya Adam for starting a thread like this….maybe if we ask one of the Mods nicely they might make it a sticky. [upsidedown]

To follow with your post, perhaps my best suggestion when you are starting out is to take 6 months to chat with people in the game. I take every opportunity I can to chat with…[Read more]

Good onya Adam for starting a thread like this….maybe if we ask one of the Mods nicely they might make it a sticky. [upsidedown]

To follow with your post, perhaps my best suggestion when you are starting out is to take 6 months to chat with people in the game. I take every opportunity I can to chat with elderly people (anyone who’s 40+)…[Read more]

they are designed for specialist companies.
….
How do you find tenants?

Care to share what exactly you are talking about ?? Maybe expand a bit on the “they”….

Does the “boom’ cycle really hold any credibility?

Not for me it doesn’t.

I muck in there, sniffing out good deals with my head amongst the specific details (called weeds), rather than flying up in the stratosphere, where all the expert commentators live, pontificating about markets, rates, trends.

It frustrates me how these young 25 yr old…[Read more]

One or two probably on this forum…..I think one of the guy’s name is Steve something, he was a bean counter in a former life…..before he found the accounting profession about as exciting as a box of dry cracker biscuits. [eh]

Originally posted by Going For Broke:
I would like to here some opinions on what you guys would do in our situation.
We currently have two IP’s both slightly negative. Still owing on our own mortgage, but have fair chunk of equity. Problem is very little cashflow. So if there are no PCF properties out there, what can we do so we can maximise our…[Read more]

This makes me think about how quick and decisive they were to shut down our friends who were going to change the face of mortgage lending by offering interest free home loans….

As I surmised about this time last year, this is probably how it went ;

Step 1 : Pop your “Chairman of a BIG 4 Bank” hat on.

Step 2 : Raise eyebrows when informed…[Read more]

very easy and no big deal.

Not always.

We settled on a property last April and the disgusting vendors dumped and refused to remove their busted up 20 ft demountable, leaving it in the front of one of the industrial units where they had “apparently cut a deal” with the inherited tenant….do a reno job on the demountable in exchange for not…[Read more]