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  • Profile photo of EternityEternity
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    February 6, 2004 - 5:53 am

    Hello,

    First of all I would invest in a calculator! 2k + 7k = 9k… Not 8k[8] But thats ok.[;)]

    I think you would find it quite hard on the circumstances that you have mentioned. You can try looking at some cheap 30 -40k prperties, but beware they are hard to come by.

    Mortgage Hunter any thoughts?

    Eternity

    Profile photo of EternityEternity
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    December 12, 2003 - 3:04 am

    Ok so on 70k at interest of 10% (using worst case)you would be paying a max of 135 per week. So yeah I think it would be wiser in your situation to buy a PPOR.

    Remember: Buy under market value and get some instant equity so that you can revalue you PPOR and buy your first IP.

    Cheers

    Eternity

    Profile photo of EternityEternity
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    December 12, 2003 - 1:15 am

    Steve wrote this reply:

    Hi Eternity,

    quote:

    Firstly thanks for sharing in your book “0-130 Properties in 3.5 years”. It was a great read and eye-opener. I really loved it!

    You’re welcome!

    quote:

    Would you care to share with us about how you are currently going in your Investing Endeavours?

    Yep – this is what I did at the recent seminars that I ran, however as a snapshot, I’m”

    1. Continuing to buy +ve cashflow property
    2. Selling investments (ie. taking profits) on properties that are not meeting performance goals
    3. Still educating people about property
    4. Being a new dad

    quote:

    Are you now 0-500 properties in 4.5 years?

    lol No… we got to over 200 and then held back a little with the aim of building up our cash reserves.

    quote:

    Still “Wrap King”??

    I still firmly believe that when done correctly, vendor financing provides a win-win outcome for all involved. I was the first in Australia to offer a comprehensive program, but my Wrap Kit has not been available for sale this year as I stepped back and re-engineered my approach. It’s coming in 2004 though…

    Have a very Merry Xmas,

    Regards,

    Steve McKnight

    **********
    Remember that success comes from doing things differently.
    **********

    Posted – 12/12/2003 : 09:14:08 AM

    Profile photo of EternityEternity
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    December 11, 2003 - 2:46 pm

    Just Allan,

    I would say that considering that you are only paying $105 per week rent, than I think it would be wise for you to continue renting as I believe that you are in a unique position.

    $105 is cheap, and if you were to purchase a PPOR you would be paying something like 300 to 500 per week in interest alone! And the next year or so will be slow in Capital appreciation on your PPOR so I think I would advise you to buy a +CF Property!!

    Cheers

    Eternity

    Profile photo of EternityEternity
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    December 11, 2003 - 4:32 am

    I don’t think there is a forum on the Australia site.

    So we may have to join as Kiwi’s… YAY!

    Regards

    Eternity

    Profile photo of EternityEternity
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    December 10, 2003 - 2:25 pm

    Hello,

    It would be great to hear about how the meeting went!!

    I would have loved to come, but I am from sydney.

    What was discussed?

    Thanks

    Eternity

    Profile photo of EternityEternity
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    December 10, 2003 - 2:10 pm

    Very risky business Nudge,

    With interest rates going up and more and more off-the-plan investors having their investment complete with their property valued for less than what they signed contracts for, I would say that this method should be avoided.

    Also because the ‘boom’ is said to be over and property prices may be on the slow down stage.

    Sorry, as for answering your questions.. I’m not sure exactly but to the best of my knowledge (I myself have an off-the-plan apartment) I think you wait until settlement (to allow maximum gains) then you transfer the title (on my contract I have my name “and/or nominee”) to the new buyer and part of his settlement is transferring the difference of what you paid for the place and what he is buying it for into your account. [:D]

    I’am sure that I may have missed something… So anyone else please add your views!!

    Cheers

    Eternity

    Profile photo of EternityEternity
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    December 10, 2003 - 5:03 am

    What is this Forum meeting on Thurs?

    When? Where?

    Is this a regular occurance?

    Regards,
    Julian

    Profile photo of EternityEternity
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    December 9, 2003 - 2:54 pm

    Thanks very much Anna,

    Congratulations on your success!!

    Anybody else have some “UNITS” that are performing as well as Anna’s?

    I remember maybe 6 months ago comming accross a unit in Canberra that was for sale at $55,000 and was renting for $120 per week. At the time (before reading Steve’s book) I thought wow this is excellent. But my mistake was to listen to the people who I told about the deal that said “Canberra will go no-where” and “I won’t get any growth there”. But now-a-days I would look a lot further into the deal.

    Keep the posts coming!!

    Thanks, Julian.

    Profile photo of EternityEternity
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    December 9, 2003 - 5:07 am

    Chandara,

    May I ask where you purchased your two IP’s?

    Mini lives in sydney.

    Cheers

    Profile photo of EternityEternity
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    December 9, 2003 - 2:56 am

    I have came accross maybe 5 or 6 in my searches, but have not gone in depth with them because they did not stand out to be great deals.

    And also it felt like I found them too easily and thought “I better not just jump on this because there may just be a reason why it is so cheap” Like its a bad area, or something like this.

    So still looking…

    I think every deal has to be taken very seriously so that the “perfect deal” can be created every time.

    Cheers

    Profile photo of EternityEternity
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    December 9, 2003 - 2:16 am

    Thanks for your reply bear,

    To be honest, I have only been in the +CFP market for two weeks, I am learning as much as I can ATM and I have a short term goal to secure my first +CFP by the end of January.

    I feel like there is alot of researching and ‘Due Diligence’ to be done on my part before I jump in.

    So its new/exciting/scary for me at the moment.

    Sorry no exciting stories from me yet. But you will hear of them as I progress with my journey.

    Cheers, Julian

    Profile photo of EternityEternity
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    December 9, 2003 - 1:10 am

    Keep the stories coming!!!

    Regards

    Julian

    Profile photo of EternityEternity
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    December 8, 2003 - 7:12 am

    Yep i’m interested,

    Is $365 the rent for all three units?

    Send info to julian’at’ctcorp.com.au

    Cheers mate

    Profile photo of EternityEternity
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    December 5, 2003 - 12:32 am

    Chipping Norton – Sydney

    Profile photo of EternityEternity
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    December 4, 2003 - 1:05 am

    Rugbyfan,

    Could I please have a copy of this spreadsheet?

    email is julian’at’ctcorp.com.au

    Why aren’t people writting their email addresses properly (eg: ‘at’)

    Is there some danger? Spamming?

    Have people had problems from this site?

    Thanks

    Profile photo of EternityEternity
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    December 3, 2003 - 7:00 am
    Quote:
    Hey Julian,

    where abouts in sydney are you based, im also around your age (im 21[:D])and also are you by any chance an accountant or is someone in your family one, just the words you used in one of your posts, was an accountants expression.

    cheers
    s.i.s

    I live in south-west sydney, I hope your not thinking that I’m a chick mate… haha!

    Julian is a guys name.

    Profile photo of EternityEternity
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    December 3, 2003 - 4:20 am

    [8D]These stories have been very helpful indeed!!!

    Thanks to all that have contributed!!!

    Keep the postings coming!!!

    Profile photo of EternityEternity
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    December 2, 2003 - 7:48 am

    Come on people,

    Share your stories, even stories from a friend or someone you know. I think that the best form of encouragement is seeing real results from people who have done it!

    I would love to hear from our fellow forum members who have successfully invested in Positive Cash Flow properties.

    Post your story!!!

    Cheers

    Profile photo of EternityEternity
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    December 2, 2003 - 6:06 am

    Thanks heaps RugbyFan!

    My QLD investment property is called ‘Metropole’ on Mary street in the Brisbane CBD. It is a one bedroom with a blacony but no parking.

    Has anyone heard anything about Metrople?

    Can I ask you a few questions:

    1) Where is your investment located?
    2) What did you pay for it?
    3) And whats the new agent?

    Your reply will be much appreciated!

    These forums are a great learning tool! Its such a good idea to network with fellow investors and all grow in knowledge by sharing.[:)]

    Keep up the postings!!!

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