Forum Replies Created
Hi Jo,
if you finf positive cashflow deals, then your husband needn’t worry because the IP will pay for itself through the tenants. With +CF deals, all you need to do is just lay down a deposit plus usually $5k for outgoings. Therefore no debt![biggrin][biggrin][biggrin]
The second bit of advice I can give is buy the property. and do what Steve does. A third of the rental income goes into paying off the debts on the investment property. A third of the rental income goes back into re-investing in other properties and a third goes to himself to decide what to do with it whether to enjoy life or to pay off his debts faster. The choice is yours but I like that system.
But the best option si to look for +CF properties so you have no debt to begin with. The tenant pays all the debt for you.[biggrin][biggrin][biggrin][biggrin][biggrin][biggrin][biggrin][biggrin][biggrin][biggrin][biggrin][biggrin]
“If You never never ask, you’ll never never know”
I would always go and buy multiple properties if I could – it minimises the risk but I wouldn’t advise overlapping both investmenst. Wait a few weeks till you have cleared the other one in regards to paperwork and other issues and are sailing on smooth waters – unless ofcourse you can handle it and have a good solicitor who is looking after you.
So go ahead and buy multiple properties. Increases the return and minimises the risk.
Kind Regards,
George.“If You never never ask, you’ll never never know”
Hi Cheat,
first things first…
Hello All You Smart Well Educated Wealthy Property InvestorsNot too sure about that statement…i know i don’t fit into that category
I’ve read the book, also the Positive Cash Flow Property and It’s easy to invest in property. Now I want to be wealthy too, but yesterday!This is dangerous – you cannot just want to be wealthy – you have to have a purpose or aim in life and to help you achieve or fulfill that purpose, then wealth might help but you cannot just want to be wealthy – it’ll never work!
You can do so much with what you have. 65k is more than most ppl getting and its above the average wage. You live for free have 20k equity in your car. First go to a few banks and seek some independant lenders and give them this information and they will tell you how much you can borrow. Based on that you then go look for investment properties. You have over 100k in equity already and it seems like your credit history is good. You can use this 100k for deposit on a few properties. It looks like your second property is +CF now that you’ve paid alot off it.
Do I wait to save the deposit or can move forward now?You are able to move forward now. I wouldn’t sell the negative geared properties because you are able to move forward without them. You ahve an excellent slaray and alot of equity.
Do I finance on P&I or Interest ownly?— depends on the property. If residential, I would go for P&I.
And were are the +CF propertys as they are near impossible to find?— you just have to look harder. there are plenty out there. Look further out into the country towns. Speak to agents and get on the databases of members on this site. They find investment deals for ppl like you for a small fee. Make a post something like: ‘include me on your database – I will pay you’
Hope all this helps. Cheers.
Kind Regards,
George.“If You never never ask, you’ll never never know”
nah – what’s the rest of that saying Pisces…….
“If You never never ask, you’ll never never know”
Hi Pisces,
In other words, unless one is a Donald Trump, probably all of us aren’t working at full capacity, full capability.O.K., O.K., just in case we get an indignant response from someone I will change the words ‘all of us’ to ‘most of us’.
I’ll have to agree – im one of the ‘most’ – im too much on this forum to be working at ‘full capacity.’
“If You never never ask, you’ll never never know”
Hi Gazza,
how much do you owe to the bank on your property. This way, we can assess the % return if you were to make it an investment property.
Kind Regards,
George.“If You never never ask, you’ll never never know”
I agree with Lucifer – the stick is a bad idea…offer him/her incentives such as movie tickets or vouchers…don’t be slack with the manage as well – your paying him to do his job – he should do it well. It’s your money!
Kind Regards,
George.“If You never never ask, you’ll never never know”
Hey Chan,
is it called a ‘Dog fight’ when two men have it.
“If You never never ask, you’ll never never know”
Hey Baloo,
if you do find something good, just put an offer down anyway with the clauses:
‘Subject to finance’
‘Subject to building inspection’there the most common ones
kind regards,
George.“If You never never ask, you’ll never never know”
my belief is that its definetly not too small – looka t surrounding factors as Mysta said – shops, schools, transport – if the numbers add up, then don’t hesitate, go for it.
Kind Regards,
George.“If You never never ask, you’ll never never know”
this sunday i have a wedding (not my own unfortunately) but I am most definetely interested – confirm the details for me and I should be able to catch up with you all in maybe two weeks time unless you make it on an evening weekday at some restaurant – don’t make it too far please – Blackburn is a little way out for me – but I’m still eager though…
“If You never never ask, you’ll never never know”
Im not an expert at this but I do suggest talking to Westan – send him an email or PM him – he’s currently up North looking at some deals…he’s the man that can personally help you…
Kind Regards,
George.“If You never never ask, you’ll never never know”
I realised that Mr Robbins tools are very expensive…
“If You never never ask, you’ll never never know”
Hi Baloo,
there is an excellent one in Buyer Beware by Steve McKnight. I think you can still buy it online. Check it out. I’d like to tell you more on it but unfortunately, I lost my Buyer Beware book – id like to get another but that means I’ll have two sets of CD’s and one book…[confused2][confused2][confused2][confused2][confused2][confused2]
Kind Regards,
George.“If You never never ask, you’ll never never know”
Hey Steph,
It’s a shame there isn’t a good gym in gero we can go to.…well, why don’t you look at opening one up for the locals – it will create a good business for you while socializing with all the locals and talk to them about your business (property investing) aswell – you and Cremin can manage it – I think this is a brilliant idea for a business and it will be very successful over time…
Kind Regards,
George.“If You never never ask, you’ll never never know”
Absolutely – don’t be determined to go and buy 3 or 4 or 10. Just be keen to buy one. Then 1 will turn into 2 and 2 into 4…etc. For any further advice on NZ, I suggest speaking to Weston – he finds good deals and will save you alot of time if you were to just go there by yourself and shop around…
Also, it might cost you $1000 in total to go to NZ including accom and airfare and everything else if you are wise about your spending – then if you find a good deal that is well +CF, then the $1000 is definetely worth it.
Kind Regards,
George.“If You never never ask, you’ll never never know”
I promise that as I am alive and able to access this forum, I will post many laughs for all you guys and gals out there…check this forum often – the silly ones by me that don’t make you laugh, just disregard…
“If You never never ask, you’ll never never know”
hahahah Hey Russ old yes but in wisdom my friend not age……hehehehe[buz2][buz2][buz2][buz2][buz2][buz2][buz2][buz2]…alone – you could be right on that one…[baaa][baaa][baaa]
“If You never never ask, you’ll never never know”
“Hold your head too high and you will stumble over unseen obstacles.”
anyone else got any quotes – lets inspire eachother…
“If You never never ask, you’ll never never know”
Chan = 2409
“If You never never ask, you’ll never never know”
