Forum Replies Created
Hi Alex,
It would depend on the insurance company and I would suggest you ask any questions you may be concerned about as each are different.
[biggrin]
Cheers
Fluffy
Hi JES,
I live on the Gold Coast and I would hve to probably agree with you in relation to Perth. It certainly needed a rise as it hadnt in a long time although I am sure you will see a correction I dont think it will be a huge one – but 8 – 10% may effect some people if they have bought a high priced property. I guess it all comes down to value and when and how much the individual bought at.
I know what you mean though!
Cheers
FluffyHi Colin,
What an interesting story. Thanks so much for your info – I will go and have a chat to them – thanks again.
[biggrin]
Cheers
FluffyHi Brisbane 04,
I have to 2nd that. I’ve had a property in Rocky for over 1 year and my property Manager is with Kas Woch. I havn’t had any problems so far.
Cheers
FluffyHi Cashpoor,
No trouble at all, I think I got things clarified. Would like to help you out with Melbourne but I don’t know the area that well. Hopefully someone else can give you a rundown!
Good luck with it all
[biggrin]Cheers
FluffyHi Playa Chicken,
Was pleasantly surprised when I read your post as I have 2 properties in Gisborne – yippee!. I knew the market had gone up there as have been keeping in touch but that price is fantastic. Do you mind me asking where abouts in Gisborne it was. Maybe I should look at selling and realise the gain.
You can pm me if you like.
[biggrin]
Cheers
FluffyAnd I thought I should add that all their cars are 2nd hand, thats why they are so much cheaper but if you don’t have to drive a flash car then this may be for you!
Cheers
FluffyHi Richmum,
Just another thought, if you are happening to travel in the North Island, I’ve found that the one of the cheapest car hire places is A2B Car Hire. I saved over $200 by hiring with them.
Hope this helps
Cheers
FluffyPosted – 08/05/2005 : 09:26:01
fluffy, on what basis could you possibly say that Campbelltown has a bad rep. Do you live here????Hi Neo,
I have repeated my first post below again as possibly you have misunderstood it.
I grew up in Sydney and below I have listed some area’s I think you may be talking about. For the record though I wish to add that although they didnt quiet have a good name it doesn’t mean you won’t make money, but I certainly understand you wish to be informed about the suburbs that may have a bad reputation (or used to) so here goes….I was just trying to help cashflow out by answering his question. I have not said anywhere to discount the suburbs in fact I say it doesn’t mean you won’t make money. I also state that these suburbs used to have a bad rep, doesn’t mean they do now!
My intention was to help cashflow be informed on what suburbs I know of fit his possible category.
Example: I am currently looking at investing in a suburb which used to have (and to some extent still does have) a poor reputation. I will still probably invest there but at least I am fully informed that the suburb held this reputation.
It is unfortunate that sometimes e-mail is misunderstood and hope this helps clarify my intent.
Cheers
FluffyActually, I meant to ask why to stay away from those suburbs in Brisbane? I am currently looking at the Brissy area. Can you tell me more about those suburbs.
Interested to hear from Lonnie and Cashpoor and anyone else!
Cheers
FluffyHi Cashpoor,
I grew up in Sydney and below I have listed some area’s I think you may be talking about. For the record though I wish to add that although they didnt quiet have a good name it doesn’t mean you won’t make money, but I certainly understand you wish to be informed about the suburbs that may have a bad reputation (or used to) so here goes….
Campbelltown
Cabramatta
St Mary’s
Mt Druitt
BlacktownThey would be the main ones anyway, although they have still gone up in prices over the last 5 yrs but where hasn’t hey!
Hope this helps.
[blush2]Cheers
FluffyDamo,
Good On YOU!
I’m sorry I don’t have any real experience at property investing full time however I must say that leaving my job to invest in property full-time is a goal I have for next year, so it inspires me to hear you talking like this.
My only advice I have for you is to keep doing your research and reading books or if you get a chance go to one of Steve’s seminars as he has some great advice.
Apart from that, if you want it badly enough and are willing to make sacrifice’s along the way then nothing is standing in your way!
I currently have 5 IP’s and own my PPOR and have been steadily growing my portfolio. I am turning 35 this year and my biggest challenge is I know if I want to get there quicker then I should sell my PPOR so I can inject this into more properties and I will achieve my goals quicker but it comes down to choice and I suppose I’m too comfortable in my own home right now. One day I may step out of that comfort zone.
I understand if you have fear about leaving your job because I too have thought of this and how I will feel come next year and its time for me to leave but the one thing that brings me back to earth is “Hey were only 35!! Worst case scenario you can start again but if you never give it a go, you may regret it forever”.
You have to be comfortable with your own decision, but good on you I say!
Be sure to let us know what you do!
Stay in touch
Cheers
FluffyHi Lily,
The best formula to use to work out your return when looking at a property is Annual Rent div by purchase price. Eg. $18,200 annual rent divided by purchase price of $320,000 = 5.6% return. This gives you a good guide as if your interest rates is say 6.5% then you know this is not going to be positive cashflow. I’m not saying you won’t find it on the coast but its more than likely you won’t just walk into it, you will have to find a house with a problem and then find the solution to it, to then make it positive cashflow.
Hope this helps
Cheers
FluffyHi Peterhutchy,
You are best to contact Minimogul, Castledreamer or Westan on this site. They find cashflow properties in NZ.
All the best.
Cheers
FluffyHi All,
Soooo… if you can vacate for 6 years after living in it and not pay CGT, what about if you had a IP and lived in that for over 1 year? Does CGT still apply? (wishful thinking I think)
Also, what is the definition of PPOR – does this mean you can vacate but your mail still goes there so its counted as your PPOR?
[blink]
Cheers
FluffyThanks Westan, shall PM Del!
Cheers
FluffyHi All,
Thought I’d jump on the band wagon. I have 3IPs, and soon to purchase my 4th so consider myself a rookie but here goes. Some have already been suggested, but it sounds like you want a list of idea’s.
1. Fix a portion of your loan
2. Fix all of your loan.
3. Add value to your current IP’s and increase rents.
4. Buy more positive cashflow properties
5. Pay more off your mortgage
6. Go into partnership with someone else and share the costs and returns
7. Relook at your budget and see what you can save on.Each investor has their own level of what type of risk they are comfortable with and I believe it comes down to this. If you are concerned with interest rates rising and are comfortable that you can pay the interest if you fix now then I guess you need to take that into consideration.
Also, I would be interested to know what your other idea’s are if you’d like to share.
Hope this helps anyway.
[blush2]
Cheers
FluffyHi All,
Just wanted to say I had a wonderful time last night at Steve’s books launch and met some great people.
MichaelK – pity you couldn’t have made it, maybe if people are going to his seminar in Bris in November, we can all try to meet up again.
Alwayscurious, I was looking for you but couldn’t see any hairy person with a dummy hanging out of his mouth. Will have to catch up at the next one.
I quickly met Blondie2 and went looking for her later for a drink but was gone.
I met up with Minimogul, castledreamer, Brent, Les & Trixie and also met some of the girls from Wildly Wealthy Woman.
I got Steve and others to sign my book, then when I read it will remind me.
Anyway I had a fantastic night – thanks to all who offered assistance and some insight into what they are doing. It’s always great to hear what others in the “industry” are doing!
Look forward to catching up next time.
“The world stands aside for those who know where they are going”
[biggrin]
Cheers
FluffyHi Del,
At the footer of your note it says join our database for great property deals.
Can you tell me what database that is?
Cheers
FluffyHi Steve,
I know this is really late notice, but I’ve just had other plans cancelled – any chance of anyone else doing a no show so I can come to the Brisbane one tomorrow night?
Please, please, please – worth a try!
Cheers
Fluffy
