Forum Replies Created
Great advice Ripehouse. Thanks.
Argyle
Phone MeThanks Tracey. Good advice. I’m going cold on the idea at the moment. I hear that the market around the country appears to have peaked and that prices will start to decline a little for a while. Nothing drastic, just a little correction. Might be able to pick up some better prices in a few months.
Argyle
Phone MeHi Tracey,
You make some interesting points though I wouldn’t want to put too much store in Liberal Party (or any party) promotional material. Have you had any experience with Burnie?
Argyle
Phone MeHi Richard,
Yes they were new, one off the plan and as well as being an NRAS property. We were brand spanking new to investment at that stage and bought into the second property far too soon. We are expecting some more funds to become available very soon – $12000 to 15000. We were thinking of looking at Launceston or Devonport where it’s possible to pick up properties at or below $150000. What kind of deposit would be needed from inside an SMSF?
Argyle
Phone MePark Trent is certainly not on our Christmas Card list.
Argyle
Phone MeHi Lloyd,
Sorry, I didn’t see this message when you posted. We actually have two properties in Qld, one near Ipswich and one in Kingston. We got into them through Park Trent. They are both negatively geared and not doing very well at the moment. The market went down after we bought them. No doubt they’ll be ok in the long term but they’ve made us a little wary of Qld at the moment – especially with the resources sector the way it is.
Cheers,
Trevor.
Argyle
Phone MeHi Jacqui,
About $47,000 that I’m hoping to leverage. Sorry I didn’t reply to this earlier. I didn’t see it.
Regards,
Trevor.
Argyle
Phone MeHi Richard,
In the US it is common to use lease options using little or no funds of your own – especially with sandwich leases. Are arrangements like these used in Australia. If so, how does one go about setting them up?
Cheers,
Trevor.
Argyle
Phone MeRyan Macfarlane (not sure if that’s spelt correctly) is another one of the emailing gurus. I definitely agree with Ivan. Do not go there.
Argyle
Phone MeThanks Tracey. That would be great.
Argyle
Phone MeHi Tracey,
That sounds very interesting. Are you able to provide and introduction to the agent you’re dealing with? Or is that something I would just have to research myself?
Argyle
Phone MeHi, I certainly agree that Detroit city is bad news. A reliable source on the ground told me that Detroit city is not only dangerous but that relevant authorities aren’t very active when evicting poor tenants. However, you don’t have to move far out of the city centre, east and north, before the picture changes dramatically and in a very positive way. You need a good, experienced realtor who will point you away from the trouble areas and towards the goods. I would thoroughly recommend Carol Koepplin of CENTURY 21 Collins,11480 East 13 Mile Road
Warren, MI 48093,phone: 586.574.1400, mobile: 586.215.5228. I used her for some very valuable research and found her very honest and helpful. I didn’t buy anything at the time, but I do intend to go back to her.Argyle
Phone MeHi Aaron,
We began with a company called Park Trent. I’d avoid them if I were you. Our properties have underperformed and we found them akward to deal with at times.
Perhaps you might want to consider consulting a couple of different financial advisors and compare advice. A few dollars spent now may save you plenty later.
Steve’s books might also be a good place to explore. I’m only a relatively new investor myself but one key thing I’ve learned already is that the best time to invest is when the market is down.
Good luck.
Argyle
Phone MeHi gazmatazz,
I was told a seminar that North Dakota was exploding because of oil. We were encouraged to invest there. However, the Saudis are unhappy about the USA’s growth in market share. That’s why they are flooding the market at the moment. They’re hoping to drive the fracking (no that’s not an expletive) companies out of the market. If they succeed, North Dakota will take a dive. I’d avoid it until the situation is clearer if I were you.
Argyle
Phone MeHi Jayman, we have found it difficult to open a bank account in the US without actually setting foot on US soil. Apparently it can be done by having documents witnessed by an attorney in a US consulate. Unfortunately, we live 200ks from our nearest consulate. Are you saying you can organise it differently?
Argyle
Phone MeHi, Detroit is beginning to move quickly again. However, there are a lot of bad neighbourhoods so great care must be taken. Check out crime stats. Unemployment is going down dramatically and industry is on the move so there are opportunities. Again, care is needed but there are good opportunites.
Argyle
Phone Me
