A note about real estate agents – and apologies to any on this forum ….this is a generalisation.
USE them for your research where you can. I mean USE them!
Filter any info they give you carefully. Sometimes grains of truth are hidden by shovelfulls of you know what!
They will almost tell untruths sometimes!!?*#!
This has been my experience.
Giddo

Where are all the really flash cars – the benz’s and BMWs ??
And where are the people with more than one car??

Is this property investment stuff as profitable as they say? Or do all these investors actually practice sensible spending? Forget the Jones’s.

We too have a mere one (1) vehicle. We find it is doable for us and costs less that way.
It…[Read more]

No Techno, I have a 7 y.o. car, but I would love a new car. Maybe that means I am well and truly infected with AFFLUENZA like so many others.
I pride myself that at this stage I have resisted temptation. Get thee behind me Satan!!
I have never bought a brand new car but have bought 2 of my cars in the past less than 2 years old at the time.
I have…[Read more]

Yeah what is PBT??
Cmon – we want to know?? You have piqued my interest now.
Is 20% good?
Giddo

Do you know how many units/houss the council will let you put on? If they allow 3 you better not build 2 as the value of the land content for each may put you out of the market??
Have you investigated cost of building there yet? Half of 550 is 275 plus the cost of building a place. If it is worth 375 does that allow enough to build it and make a…[Read more]

Thank you all, very sensible replies. I am asking the wrong questions, and looking for the easy way out perhaps.
thanks again.
Giddo

A lot of people have read Steve’s book but I am sure there are not many investors around at the moment picking up quality properties under the 11 sec rule.(go on forumites, tell us if you are finding them!) It is hard to find +geared props unless you are happy to go a bit remote.I for one would not be interested in owning 20 properties returning a…[Read more]

This may not be the experience of others but when I got my website done, I found I was the one who had to design it!
This is despite my wish to simply give the designer the information and let them design it. After all I dealt eith a firm who advertised as website designers.
Maybe it is because I have an individualistic (read pigheaded) bent, but…[Read more]

I have been in sales too and even sales of carpet for a while. I cannot forgive that shop assistant for her attitude but I can definitely identify with her. Floor covering was the most mind numbing, difficult things I have ever sold. Nonetheless she should be taken out the back and given a severe talking to!
One thing I did learn is that polyprop…[Read more]

Hi Prop Passion
Sounds like you are in a strong position to push yourself a bit more and make some $$$$$$.
I would start familiarising yourself with council requirements, do research on what units rent for or sell for in the area and generally start learning about development. Go to open houses, scan the internet for info and prices, and surround…[Read more]

Hello all,
Unit in backyard OK, I have done this. Watch out for Council who will maybe want you to replace sewer. Also significant headworks charges sometimes, not to mention surveyors, solicitors etc. watch out for your new neighbours – will you be comfortable having close neighbours when it is done?
Like Rick,I would sell house then move into…[Read more]

Hello Jenny 1 and Neo 25×5 and all those other unfashionable “lesser” consumers out there!
I am proud, nay, even a mite smug (naughty of me)about the fact I drive a 7 year old car and live in an unglamourous house and do not surround myself with baubles.
I reckon there will be a lot of big consumers out there who are in for a big shock when their…[Read more]

Hi Redhaven,

Both sound like very good deals to me. I am not sure the market is yet falling in all areas, but I reckon it will.
Like Foundation, I would be scared of wrapping except in a boom market. But that is just my humble O.
Good luck
GIDDO[exhappy]

HEY MATT P,

I live near you, in the nearest regional centre – TOOWOOMBA – 90,000 people. That is bigger than Mitchell isn’t it. We are only about 4 or 5 hours drive away I reckon.

Giddo[blink]

Hi Pagey,
Let me answer this from a different perspective.
If you keep the land or build and keep it, your “sleep at night” factor will diminish.
You have a little family on the way to worry about already. Mince on toast – yuk…
If you sell now or soon and take your loss, you will get rid of the bad taste, in fact almost as soon as you get on to…[Read more]

YEP, you could retire young with property.And I am certain that you will NOWORK because of your well developed goals and your youth.
I am not sure about your figure JASON – your figure of requiring 700,000 cash in 7-10 yrs time to retire on. Wouldn’t the inflation dragon burn some of that value between now and then? And what about from then until…[Read more]

Thank you all,
Yeah Wilandel you are probably right, I probably did notread the book very well. Actually I enjoyed the section of the book about the mappers and can see that this is the way to go.
There were other parts of the book that described the cashflow positive concept; seems to me to be a whole different concept to what the mappers were…[Read more]

Hi Shaztaz and CRJ,
What would be better – 130 properties in the bush CG neutral – or 20 or so in a small city with CG potential?
I guess it all depends on the investor’s own circumstances and whether they need the income straight away; or can wait for CG…[comp]

I would feel v uncomfortable owning a whole heap of non CG potential properties. I…[Read more]

Thank you Shaztaz and no I have not read Spanns book about CG. I may get it and learn a bit more about CG.I reckon you are right about the bargains coming up in a year or 2. I am right now consolidating and getting ready for the next round of good buys. I know a lot of people in this forum seem to be buying right now, but I just can’t bring myself…[Read more]

Hello Mitzu,
I have had builders reports done before and they did not include a quote to fix the problems. Once I used a builder who did not specialise in reports, but did renovations for a living. I felt like I was talking to a real person then, instaead of a business. he phoned me with a verbal report and I asked him questions about costs of…[Read more]