Forum Replies Created
also – one more thing. If you have access to the subfloor get under the house and remove any rubbish and nasty surprises that may have been left for you.
I Buy Property http://www.cashflowproperties.co.nz
Cash Flow PropertyHi Mike,
I have never had this problem as bad as you but part of the solution is knowing that not all of the smell will be in the floors.
Everything in the house will be absorbing to odour over time. Walls and ceilings may also have to be done as well. Cats and dogs will spray well above the floor coverings.
Burn some coffee in there while you are working and try and add back “nice” smells at the same time you are sealing in the old – vanilla oil on wood trims at door height etc etc – all the usual tricks.
cheers
I Buy Property http://www.cashflowproperties.co.nz
Cash Flow Propertycheers Ozi – i will be out of contact for a week or so but when I get back I will post a few more things that have been sitting on my desk for a few weeks. I was surprised by the wellington number.
I Buy Property http://www.cashflowproperties.co.nz
Cash Flow PropertyHi Istreet,
No! I have details of a good local broker who can discuss finance with you. A list actually and you can choose.
cheers
I Buy Property http://www.cashflowproperties.co.nz
Cash Flow Propertythere is alot to be said for making a plan and just quietly doing it. I probably agree that there is no real need to earbash the poor girl with the grand plan all the time. You just need to be on the same page.
At 22 I already owned my first ip and had a small car loan. The “gf” at the time had a car loan, student loans + hecs debt, credit card debt and was into her family for some cash as well.
She understood every detail of our conversations about investing but had no real committement to any of it. We were on different pages.
What you don’t want to do is become like a religious zealout and try and “convert” her with books etc. (altough all the books mentioned in this thread are great reads) If you have a real passion and it is part of your life then seeing you “doing” it and enjoying it will hopefully be contagious.
cheers
I Buy Property http://www.cashflowproperties.co.nz
Cash Flow PropertyDr x has hinted at this.
I think it is very important that we evaluate each investment individually but then also evaluate how it slots into our total portfolio and what the net effect on that portfolio may be.
In order to do that you will have to base your analysis on facts which will be the net result your thourough due dilligence and secondly on assumptions. That’s the tricky part.
How do you know if your assumption are wrong? You won’t until time proves you right or wrong. How do you learn to trust your decisions – by making some – and then being honest about the result.
The truth is that nonone knows whether a particular individual property will work in the hands of a particular investor. I put it that way becuase as property investors rather than investors in other assest classes we have the ability to influence the performance of a property. ( I am learning new ways all the time)
If you do the research and take a position with a property and it turns sour then it is a learning experience. However, the last thing you want is to be thinking – IF I HAD KNOWN THAT I WOULD NEVER HAVE INVESTED (WHEN THE THING IS SOMETHING YOU COULD HAVE FOUND OUT ON YOUR OWN PRIOR TO INVESTING).
Cheers
I Buy Property http://www.cashflowproperties.co.nz
Cash Flow Propertyhi – just wanted to add to this point made by art
Finally, READ, READ, READ. Use other people’s experience to your advantage!DO, DO, DO! This may not mean actually buying homes but get out there away from the PC and meet people.
cheers
I Buy Property http://www.cashflowproperties.co.nz
Cash Flow PropertyHow is $179K in Collins St in Melbourne and $300 per week , not bad 4 a blue chip location (outgoings by tenant and residential property). I looked at properties in the Docklands in Melb on Monday , asking price is $340K and tenanted for 3 years at $500/wk , i am sure the savvy investor could pick this up for circa $300K.I also purchased a 3 bed townhouse in Richmond for $550K , bank value for finance came in at $800K. I tenanted it in 1 week at $600/wk , not a huge yield but i am happy having blue chip investments…. and many more
These are all good examples of the sort of activity in the current market. Anyone else? What were the docklands properties selling for off the plan. Is the current buy a discount to back then.
I Buy Property http://www.cashflowproperties.co.nz
Cash Flow Propertyus too although have not put that many offers in lately. It sounds like I should get off my but and do a bit more. My last flyer mail out was a flop to be honest. Not one motivated seller in my entire city. I think the direct approach will be a bit more effective and we have a list of properties that suit what I am looking for.
True about the agents people say to me all the time I bet you have agents calling you everyday, yes? No! As soon as they know you are not interested in paying asking price the phone does not ring all that often but when it does it is usually something worthwhile.
cheers
I Buy Property http://www.cashflowproperties.co.nz
Cash Flow PropertyDoes anyone have any specific examples of buying below market? (I know this term causes debabte but lets just take it for what it suggests for the sake of discussion).
Gross has given a few examples of developments where problems are being solved to make a gain.
Has anyone been able to get into that PPOR suburb that they thought was out of reach due to negotiating a better deal. Anyone been able to move closer to the beach or work. Is real estate being discussed at the family dinner table or bbq.
I Buy Property http://www.cashflowproperties.co.nz
Cash Flow Propertysurely a vendor could not be prevented from giving you access to information about deposits in his own bank account if he was that way inclined. That would have nothing to do with the tenant.
Cheers
I Buy Property http://www.cashflowproperties.co.nz
Is it time to buy?Always!!
Sorry I can’t comment on that particular market.
But I wholeheartedly believe that investors who build portfolios in this part of the market cycle are the ones who will benefit. Doing what everyone else is doing when they are doing it is surely a flawed strategy.
Not sure if i have ever read a book describing how a property investor got rich doing that.
Waiting for large macro events in the economy to translate into a value of a house in smith st somewhereville is a mugs game.
cheers
I Buy Property http://www.cashflowproperties.co.nz
Hi,
Hope you don’t mind a bit of extra advice.
So you are looking at incurring a near 60k debt for a degree with an uncertain prospect of employment. All your friends are rushing off to uni and it is going to be great?
If you are looking for a serious alternative I would get/keep your job or find another job in a related field. Work for a year and then start your course part time. There will probably be help from your employer toward fees etc.
Depending on your level of commitment you will probably find that you can knock over the degree in near to the same time while working. If entry is a problem look for courses that you qualify for eg distance etc that will credit toward a degree at your “best” school. Transfer in during the last year if your really think that it is important.
Remember you can study commerce and law subjects from most faculties.
As for the investing, start as soon as you can but you are going to need cash so start saving that deposit.
cheers
I Buy Property http://www.cashflowproperties.co.nz
Option 2 over one every time at your age!!!.
but…. don’t spend less time choosing the investment property just because it is an investment. If I was in your situation I would try and find a mid yield property in an area close to your home that families are moving to. Try and buy somewhere where people actually want to live.
Probably a good idea to be close to the first few. Take your time and get the best possible deal on each property that you can achieve given your level of skill and the vendors level of motivation.
cheers
I Buy Property http://www.cashflowproperties.co.nz
Hi Art,
Unless things have changed alot lately in OZ you SHOULD be able to get IO finance (depending on your circumstances). PM one of the brokers on the forum, get a phone number and make some appointments.
Io finance is a very valuable tool that you can use to keep the level of debt servicing repayments down while you are using the money saved for other investments in property or other assest classes.
cheers
I Buy Property http://www.cashflowproperties.co.nz
PS: I already have someone setting it up for me ($235).This could be part of the answer – maybe go to another firm pay a bit more a get some good advice. If i was to guess I would say can’t see any reason why the charity can’t be one of many of the beneficiaries of the trust. cheers
I Buy Property http://www.cashflowproperties.co.nz
to put a caveat on you must be able to show that you a financial interest in the property so you do need to have physically lent the money to an entity and had it documented( hense I said was the loan documented to the entity and then if it was yes you could have put a caveat but this would have done no use anyway as jv parnters in normal coarse would lift it to sell it)Hi all – not a nice situation and a good warning for us all. Perhaps people who receive money from a windfall may not be the best people to invest with. easy come easy go so to speak. It is not as if this JV partner had worked diligently to build up funds that were going into the jv. It seems like it came quickly and fingers were in too many pies.
Gross – i reckon the jv agreement depending on how drafted of course may be sufficient for this person to have lodged a caveat over the property without the non financial partner chipping in cash as well. Just a thought and it does not help much now.
Does the JV agreement cover dispute resolution. eg have you specifically spelt out that mediation would be the first step, or have you appointed a mediator in the event of a dispute. Who was going to audit the accounts etc.
I Buy Property http://www.cashflowproperties.co.nz
thanks. yes it is great to finish.
I Buy Property http://www.cashflowproperties.co.nz
Hi niniebear,
Where are these units located. What state. I have many buyers in asia looking for genuine opportunities – me included . Pm the details or email through and I can give you a call.
cheers
I Buy Property http://www.cashflowproperties.co.nz
thanks. The finish and detail are what we are most proud of in this home. cheers
I Buy Property http://www.cashflowproperties.co.nz
