We have 6 IP’s now and get a call by the manager re something or other at least fortnightly and repairs and waterbills +++.
We do a lot of maintenance and minor repair work ourselves to try and keep costs down.
You also have to be reasonably ok dealing with tenants.
It gets more difficult the more you have and sometimes you loose oversight a…[Read more]

Keep investigating, you never know, please keep us informed it sounds quite fascinating.
It sometimes makes you wonder how people can just leave such an assett standing vacant/unfinished for so long.
Money out the window.
Regina

Yes, we went to the seminar and brought his index trading package.
I changed my mind and asked for my money back several days later.
He refused, saying that I could only ask for my money back at the end of the seminar.
However, I now understand, that the promoter, breakfree events, does offer a money back 30 day guarantee, so I am still waiting…[Read more]

Nouveau Riche is an american company owned by a smiley, caring sharing touchy feely husband and wife team.
(who of course are so concerned for our well being, they want to help make us rich).
Now, I think, the gist of it is, you become a distributor for all of dolf De Rosses products, which are actually not too bad.
You sell the package to…[Read more]

If you preceive Steve’s strategies, book, seminar etc to be a “scam”, why even bother commenting.
He is at least offering us all the opportunity to learn, inform ourselves and come to our own conclusion.
I do not believe he is in any way overpiced unethical or unrealistc in his seminars or education advice.
I strongly believe we stick to…[Read more]

Congratulations, for an accountant you are sensational and inspiring.
Just one thought, what you wrote towards the end should be at the top? Straight away you get a summary of what its about.
But, book publishers have editors and now doubt, they will do their bit.
Regina

He certainly charges a hellof alot of money for his seminars.
I also found the constant references to rich dad/poor dad unsettling in my reading, a lot of repetition and thinking to myself, when is this man going to drop the “rich dad/poor dad” line and just get to the point.
Apart from that, if he has motivated people to get out there and do…[Read more]

Check all outgoings and maintenance very carefully, they tend to be quite high, especially if a lot of common area and because ret.units always have to offer a lot and look good., how liquid is it if you want to at any stage resell?

Just sharing my experience from about 3 years ago, when we didn’t know better.
We brought a townhouse and 2 apartments of the plan, and didn’t fully realise that this builder would be charging us progress payments.
The upshot was, a lot of financial stress, meeting progress payments on our income with no rental income for quite a few months.
We…[Read more]

I had got archicentre involved (never again), similar issues, he didn’t pick up termite damaged floor boards and a few other things, cost $3000 to fix and extra time. I wrote numeroue letters etc about it and basically got told to P>o., they are not responsible for termite or pest inspections, I should have got pest control.
I did point out that…[Read more]

Hi Matt,
We usually put in 20% of deposit and we have to act as garantors for the company.
The properties are cashflow negative/neutral and positive. Some we have brought for subdivision and build another house in the backyard(capital gain)
Some we brought because they pay for themselves and maybe one of the other properties.
The company manages…[Read more]

Good on you, and its happening more and more.
I keep excellent records via Quicken software, my accountant neatens it up and because its very simple, the audit doesn’t cost that much.
When we didn’t have good software, the compliance was a nightmare, I have learnt how to keep records now with everything and seing my accountant is no longer an…[Read more]

I’ve been to two or three, they mostly flog their own products, you pay managed fund entry fees to them and a usually hidden trailing commission. If you want to invest into a managed fund, there is so much info on their performance now, you can select yourself.
It is virtually impossible to get a big picture idea and how to link everything…[Read more]

You definitely cannot borrow in your super fund, that is one reason they are so slow to grow, no leverage.
I have brought 2 carparks in StKilda, paid cash and because they are on a commercial lease, no outgoings payable, I get a net monthly return of 7% wich increases by 3% annually. No problems at all, I don’t have to monitor it like shares or…[Read more]

interesting reading, because I think the big guys always win. If they are already extremely wealthy by their books, seminars,investments why try and get us, to invest with them. What is their agenda?
We just attended a breafree event, trying to convince us to start a “business” via an american company “noueavou riche”, to flog tapes, books etc at…[Read more]

The issue really to all this is, that the vast majority of properties ARE NOT cash flow positive, unless you have a considerable amount of your money sitting in the assett.
The above are just that: salespeople, they have only one selling point and that’s the tax savings.
I would, at this stage not even bother with any form of interaction, total…[Read more]

Little things can and will go wrong, eg hot water systems, locks.
when we have brought, we have usually done a thorough check, repair, major clean up and gardening, pruning, rubbish removal, mulching,curtains etc. We paint every thing.
Depending on the house, it has cost us anything from $3000 to $25,000(a renov.job).
The house then is very…[Read more]

Agree with all the comments. A tenant who pays their rent on time and keeps your assett in good order is a blessing.
I’ve just had to evict non-paying untidy tenants and it is a relief to see them gone.
The relationship works both ways. We happen to take a lot og pride in our property assetts and try to present them neatly, very clean and well…[Read more]

I agree, all these seminars sound fantastic, been there done that.
Have left a bit of money behind.
I am now seminar “weary”, I try not to spend my hard earned money that way anymore. I think I know enough to move on,there is only so much you can learn about property.
Regina

has anyone been to any of his seminars, if so, any good?
They are currently being flogged for $3000.
Regina