I wouldn’t say it’s my favourite saying or quote but one that I and I’m sure others can relate to.

When one door closes, another opens; but we often look so long and so regretfully upon the closed door that we do not see the one which has opened for us. – Alexander Graham Bell.

Here’s one I do like.
“as much use as an ashtray on a motorbike”

Cheers,
Doug

FireCaesar, apologies again, I guess I should read things more thoroughly before I comment, I was just skimming through the thread.
Cheers,
Doug

Derek,

Don’t you mean Maynard is extolling the virtues of PIPS as Alibaba was saying he was trying PI.com as in propertyinvesting.co since he read Steve’s first book which he thought was great.

Doug

C.K, Scremin and other fellow forumites from WA lets get a meeting organised.

Meeting once every two months would be pretty good, I suppose we can discuss that at the first meeting.

Cheers,
Doug

I stumbled upon the “Peter Parker Online” website today which has an Investing section.

Plenty of PI book reviews there, go to http://www.alphalink.com.au/~parkerp/invest/book.htm

Also dozens of other excellent links.

Cheers,
Doug

Blondie,

It’s worth reading all the posts on this thread.
Some good advice to be had and also some heated debate from the big guns!

Mini’s major post was awesome.

This thread has made me think twice about the type of IP I want to start with, originally I wanted something close to where the new rail line is going to be south of Perth, but nothing would fit the 11 sec rule (strongly influenced by steve’s first book) so I have also been scouring the internet looking for cheapos in country towns including Peterborough, Katanning, Tassie and NZ.

I did find some cheapos that could fit the bill but have been hesitant, due to reasons mentioned in previous posts, no industry, unemployment levels etc.

I know some of you will say don’t procrastinate or you’ll never get anywhere but I guess it’s my nature to be doubly sure I’m making the right move, even if I get the first couple right, I’m sure I’ll make mistakes at some stage and learn from them.

I’m hearing more and more about Peter Span books and quite like the sound of (mentioned previously in this post) -ve to begin with then neutral to +ve so in today’s market maybe it’s not such a bad idea to buy something where I was originally thinking about, close to where the new railway will be, maybe a bit of reno and work towards the CG and +ve cashflow, at least I would be close to it as I live in Mt Lawley, just a 40 min drive down the freeway.

I will be reading steve’s second book which I’ve bought and also Peter Span, Rolf De Roos and some others as recommended by other contributors to the forum.

Will let you all know when I’m about to take the plunge…hopefully not like a lemming[biggrin]

Cheers, Doug

Hi Spider,

My wife and I lived in Karratha for 6 years, which we enjoyed.

We passed through Roebourne many times on the way to Point Samson, Wickham and Port Hedland.

FYI…the pub in Roebourne has the tables and chairs bolted to the floor and they hose the pub out after closing time!

From memory there were a couple of well presented houses there.

Cheers, Doug

Derek,

Thanks for the reply.
I could have explained our circumstance a bit better. Our total debt is 390K, the mortgage is 290K and the equity loan which started at 60K is now 90-100K. The equity loan is made up of various investments where the dividends paid quarterly go towards paying off the mortgage.

We are comfartable with our repayments and we’re actually paying more than required, so we’re ahead in that respect.

My goal is to invest in CF+ve property and or capital growth property, residential or commercial with a view to building a large portfolio in a reasonably short space of time with the ultimate goal of retiring around say 50 or earlier if possible.

From reading the various threads I see that NZ seems to be the only CF+ve place to buy property these days.

Cheers,
Doug