If you buy toilet paper in bulk you're called thrifty, if you by land in bulk you're a cartel?

Buy low….. sell high same goes for land.

D

Ok, I'll bite, I'm real smart like that 

So, Freckle, are you discounting manufacturing and food?

I found a website (I too have access to Google) http://www.tradingeconomics.com/australia/exports I won't cut and paste the graph, people can look at it there. According to this site, manufacturing and food exports make up 33% of the total. with coal and oil 18% and 9%. So who's to say that after the horse meat lasagna thing our beef exports don't start heading up? Whose to say that in a few years Australia replaces the falling demand in the mining market with food exportation?

China is a large market at (once again according to this site) 27% of our export market. So what about the other 73% of countries buying our product?

Also do you think that tomorrow no one will buy they gold we are digging up? Really?

D

You are a chick in a cage?

You use MS Paint?

You wrote that Smashing Pumpkins song?

I could go on….. play nice with the other kids now dear……

D

Hi all,

Interesting thread, mind if a lady joins in?

Freckle has a point (geez did I just type that??) Nigel it would be great if you could share your personal experience buying property in Florida. How many properties have you purchased there, and what sort of price range have you purchased in.

Also just going through your posts here you've put Disneyland as a reason to buy, but what other financial indicators have you used to determine that this is a good area, are there reports, or particular indicators that other forumites can look at in order to make a judgment on that area. I know Steve has been buying there for many years, but is that window closing now?

Rob/John, $6 mil sounds a bit small. Glaxosmithkline are investing $60 million on 58 new jobs in one suburb in the Sth Eastern Suburbs of Melbourne. Will these new Verizon employees be minimum wage call centre employees, meaning the rents they can pay are also smaller? Curious to hear your thoughts on this.

Lastly Rob/John, I think it would be beneficial for you to preface your posts after Nigels with something explaining that you are indeed Nigels overseas partner, as some new members may not already know that.

Cheers

D

Good call Derek on the sleep at night thing….!

Shell, it's really my pleasure to chat to people such as yourself, you really take the knowledge you get and run with it! So many others would get advice and never do anything with it.

It's great to see you traveling on your property adventure. I'm sure you'll begin to tackle things outside your comfort zone and adding more to your already winning portfolio, but it's a matter of working up to it.

And congrats on picking up another cash cow!

Cheers

D

Yep Nigel,

I got told a story yesterday, about where the same product can be obtained cheaper after passing through several 3rd party distributors, than by coming through the main supplier channel. I think Australian retail has a few extra problems that need work over and above the internet shopping deal.

Once a few retail business work out some streamlining we might see a better 'deal' for shoppers. On the other hand we might also suffer from a lack of choice as ranges get slimmer so retailers can try to make money. Where before we may have been able to buy 10 different cameras we might find that the retailers only stock 4, and they are exclusive models that no one else stocks.

I have to say though going shopping the other day, not many customers out, and plenty of items heavily reduced. Like $80 shirts for $20. It's a pretty dismal outlook for retail, but we might get some new retailers who come into the market with new ideas or the old dogs could learn a few new tricks. You never know.

Sorry everyone, got a bit off topic with this one!!!

D

Thanks Babyflynn

It's one of those jobs that's going to depend on if you do it, or a builder and how much floor you have to re-do. It's not the worst job, and depending on the amount of floor it may not cost the earth, but check it out properly.

As Kate said above, if it's stumps, just start jogging quietly in the other direction.

If it's up for auction and you are serious, still pay for the inspection, it's a cost of doing business correctly. Even if you miss out on it at auction, or decide you don't want it as the termites are still crawling it's well worth the small sum. Better to burn $500 than $5000 or more…..

Cheers

D

Hi all,

Babyflynn, have you had your own pest inspection done? I'm a bit concerned that you have written 'the agent disclosed, and another purchaser' what about a proper pest inspection, what has that told you?

The problem with relying on other people rather than your own experts is that, as others have said, it could really cost you big time.

I did purchase a property with termite damage (vic) however the damage was minimal and the termites had been treated 5 years previously and were not active at the time of purchase. The agent disclosed nothing, the termite damage was found during our building and pest inspection which we paid for.

The only properties I don't pay for building and pest inspections on are ones I'm going to knock over!

Other than that, if you get an inspection done, and they say the damage is just in the boards, and an easy fix (you can replace the floor boards with particle board flooring and stick carpet or floating floor boards over the top) then maybe there is an opportunity for you to negotiate a good price. Just please do some more homework

Cheers

D

Hey Shell,

Good to see you are on the buy wagon and have moved through the paralysis part!

My 2 cents.

Are you definitely going to see see capital growth out of this property? If it's losing you 3k (I'll use Dereks figures) per year then every year you hold it the value really needs to go up 6k per year, so you cover the loss and have a profit. Could you make the 3k profit per year out of another cash flow + property?

You said your PPOR has gone up heaps – does this mean that the area is still seeing a good growth, or will this growth now slow?

Lastly if your onto a winner (buying cf+) and you are growing your portfolio, do you have to change what you are doing?

As far as the deal goes, I'd stick to my guns, having early access is a legit request especially through a licensing agreement, you're paying more, why should they care. Remember when you deal with something like a Church or other organization you are essentially dealing with a committee, it's always going to be a bit more painful.

Hope this deal works out for you in the best possible way

Cheers

D