Forum Replies Created
Wouldn’t you much rather positive cashflow properties???
I have personally bought 2 properties in Logan area through Dave Thomas (buyer agent at Coffs) He has bought property there himself & is very familiar with the area. He was a fantastic help when I was first starting out. Thoroughly recommend him. I can give you his details if you are interested?
I don’t think that the buyers agent needs to be in the location you want to buy- so long as they have the knowledge & have done the research on the area all is good. Most buyer agents buy in more than one area (or from my experience). Please correct me if I am wrong.
Dianne Burns
You can find out from your local council or town planner, but in my experience you can build over some easements and they can be used for car parking depending on the type of easement. Sometimes you may have to start the building at a certain height to still allow access.
Cheers
Dianne[exhappy]Sorry i can’t help you with this one. I have invested managed funds, but not in property. Hope someone will help you.
Cheers[blink]DianneHi Anthony,
I saw them at the Brisbane property Expo a couple of weekends ago. It was only for 20minutes but they were inspiring & motivational. They have lots of handy tips and I’m sure that you would pick up something. They have been going for a while & have a great success rate so I think we could all learn from them.By the way, take your book & the guys will sign it for you. Are you doing the bus hands on tour with them or just a seminar?
Let us know what it was like if you do decide to go?
Cheers
Dianne Burns[aacool]Hi Zorge,
I am surprised that anyone will give you advice when you are being so singleminded. When professionals offer advice (for free on this forum) it is a good idea to stand back and take it in.You are correct when you say that you have a choice. Everyone does and I hope that you can find it in your heart to be more open to responses. Everyone here on this forum (from my experience) is here to help.
As always the best thing to do is shop around. Ask questions and then listen to their answers…
Good luck
Dianne Burns[blink]Good on you for thinking in the right direction.
My advice is to look at your interest rates for your personal loan & your savings. My guess is that the personal loan is higher than the savings interest.
Suggestion: Why not work on paying off the personal loan whilst saving for your deposit? More deposits into the loan but keep saving minimum of 10% gross pay at the same time. You probably are not paying rent so why not pretend you are & put that on your loan outstanding?
In the mean time get a feel for what is out there & what your goals are & where you want to be in what time? Set up your structures for investing in property & educate yourself as much as you can while looking for the deals.
Good luck…future is bright.[strum]
Dianne BurnsHi George,
Just wanted to say that things happen for a reason…Hang in there. All will turn out for the best. I agree with Gross Realisation. He is more informed than many of us, so take his advice. Let us all know how things work out.
Cheers.
Dianne BurnsI went too…
It was inspiring & full of information. I too saw the Reno Kings seminar. They are amazing. I bought their book & had it signed by both. I haven’t had a chance to even open the pages yet but I will.
Found lots of interesting hints & tips there. Pity I didn’t know you were going Amanda??? I could have met up with you. I went on Saturday & then travelled home on Sat nite. Got home to Gladstone at midnight.
Hope you learnt something worthwhile as well.
Cheers
Dianne Burns[strum]Business plans are great assets to anyones life.
I found an easy way to do a business plan instead of the 40page long issue. This is what I do…works a treat if you are a visual person like I am.
First I buy 2 large sheets of cardboard & divide them into 6 boxes. At the top I begin with January, Feb, March (1 in each box) then under neath the next 3 months (1 in each box). I then do the next 6 months of the year on the next sheet.
In each month I then go through how I will achieve my goals, what my budget is & how I will go about it. All things like marketing, PR and displays & important dates are listed dot form and then at the end of the month I go through my plans & mark what does & doesn’t work. I write up whether the budget was met or over/under and how I could improve it for next monthyear.
I then go on to put them on the walls so I can re examine my goals and objectives on a daily basis, monthly basis & yearly basis. I then go on to graph any budgets & improvements. These also get displayed on my office walls. I find it makes me more accountable to get things done if it is in my face.
I have been self employed in business for 16 years and tried many ways. This one was the most successful…try it. I would appreciate any feedback. It can also be done over a week period if you so choose. I like to decorate it & add pictures – helps with the visual.
Good luck…good work.
Cheers,
Dianne BurnsWow,
thanks for sharing. This is what I have to look forward to. Dazzling – YOU ARE DAZZLING!!! Now I know how you get your name. Keep up the good work.
Dianne BurnsHi Tim,
I have done the same thing recently giving up a 16 year fulltime self employed job to go investing full time. I also read STeves comment about don’t go full time property investing, but after all that is said and done…I would never go back.i am the happiest and most free that I have been in 22 years. I feel liberated that I now have time to do all the things that I have so wanted for so many years…also I seem to be busier thaN I have even been, however it is more fruitful. I can now see how we can get ahead and also create a passive income so that my husband can also quit working fulltime for someone else. The plan is 5 years. Gee that was a long sentence – sorry!
Since giving up full time employment 2 weeks ago, I have been able to find more deals. I have secured 2 new money partners, set up the structures, and I have secured another 2 deals with one on the way today and another 2 maybe deals. So I guess the thing is if it is your wifes passion, she won’t let the family down. I say go girl!!!
Good luck.
Dianne BurnsHi Pirijat,
That is a decision only you can make…however if you sold it and cut your losses, you could move on to bigger & better things. Maybe you’ll find a positive geared property that will more than make up for the losses incurred by selling it. Or maybe you will find someone who will rent it for more than the last tenants???We had a similar situation. We owned a florist shop. I was losing money keeping it and I haven’t got a lease in place for the building yet however there have been many inquiries and the rent we will get when it does go will be more than the florist made in a year. so sometimes we have to reevaluate where we are and where we want to go before we can make those decisions.
I feel so great now that I have let go. Good luck with your decisions and know that whatever you choose to do will be the lessons you need to learn at this stage.
Cheers
Dianne BurnsI used an agent buyer this year for 2 of my investment properties and I felt safe using him. It was full information and advice from the word go and I still can ring anytime and ask questions. I felt this was a good sounding board for a starter. I believe it is up to the individual. A little outlay to be sure you get something worthwhile is a good investment. A bit like using a pest control & building inspection before purchase…
Keep shining.
DianneHello all,
I just heard the news…hope all is well for both Dave & Steve?
Will this have any effect on the results 2 program? Will we still see both of you guys at the get togethers or will we only see one of you?As the accountant always says, expect a dispute. There will be differences in all partnerships at some stage. They don’t usually last a lifetime and people’s values do change with time. This is why documents are put into place.
Change is good. Maybe you guys will find different oportunities as well now. Good luck with whatever you do decide you are doing. Please keep us informed to what you intend. And the biggest thank you from me as a newcomer to the investing industry. You have been my inspiration and I will be forever grateful for that.
Much love & hugs to you both.
Dianne BurnsWhy not put the house for sale as a removal home- this will save you the cost of demolition unless of course it is no good?
This means that you will get paid to move the house. You could also put a clause in the contract that the property needs to be cleaned up & garden beds and gardens removed after house is removed. I have been to auctions where they have stipulations on contract, like dates to be moved by.
Hope this helps.
DianneHello SG
You can find positive cashflow in any town, you just need to spend time & do number crunching…sometimes they are in the most unlikely places?
Cheers
DianneHi all
Up until this year we have always had 3 cars & 1 motorbike…what a waste of money Eh?
Earlier this year we had a 2000 Jeep Wrangler, 1999 V6 Hyundai Sonata, 2006 Holden Combo Van & 19? Motorbike (Honda I think – it has been modified & goes fast I believe). My husband won’t part with it…
We came to our senses & gave away the Sonata to our mother. We should have given her the jeep as the sonata is a lot better on the juice. Unfortunatley we still have the rest.
The Jeep is for sale if anyone knows anyone who wants one??? This has been a battle with my husband. He likes to look the part, however I have been able to convince him otherwise and the jeep is now happily looking for a new home. The Combo Van is work related & will be offloaded this year and we will trade the jeep for a ute (useful for renovations & the like).
My husband was trying to make me buy a Crewman or V6 Ute. I said no!!!! I just want a small efficient tidy second hand ute. He is devastated but knows that it is for the best. I will let him keep his bike however for the time being anyway.
A little bit of negotiation is better than nothing, but we really only need a ute because there is only the 2 of us & husband works away 4 weeks & is home for 1 week. I am into the investing so it makes sense to be smarter with your money.
The goal is to only have one little car by the end of the year. (& bike for his pleasure)…Hi all.
As a new investor, I wouldn’t touch them either, given all the comments on this forum. I did look in to buying some DHA property once, however found them to be very negetive geared. The glamour of the properties they had captured me, but the number crunching did not. Thanks to Steve’s tips!
Interesting discussion.
Thanks,
DianneHi Steve,
I wouldn’t mind knowing a little more information on how to attract a joint venture or money partner and how they work. What to look out for & how to set it all up? What questions need to be asked? etc? It would be nice to know how to go about it, so that when a good investment property becomes available- one that is too much to do on my own, I know how to go about it.Another thing I would like to know more about…more solutions to different problems. Or maybe some more senarios.
Practical tips to peoples problems?
Thanks for any advice…it is all worthwhile.
Dianne Burns
