Forum Replies Created
Hi pirate,
no answers?
Hmm….Maybe the questions are a bit generic (no approx figures, cash flow / income positions, locations) and with very little information for people to be able to help properly. But I will give it a go!I remember when I bought my small 2nd IP (about 5 yrs ago) I set some personal goals and researched a specific are that I knew well and had confidence in. I personally base all my purchases on certain factors/questions, a few being (in no particular order);
A) Potential for growth for that area/suburb in 3-5 years (so I can draw down on the equity and
keep the momentum in my investing). Rather than wait 7-10 while the grass grows greener.
Are we able to maintain repayments and overheads (with income/cash flow/rent etc..) in
all current market climates?
C) What can I do to this property to make money out of it in 12-18 months apart from rent it out?
I personally prefer not to do reno's.
D) Buying for sub-divi or development potential only (This works for me, but may not be your bag as it has a higher risk component).
E) Don’t try and fit a square peg in a round hole. If the numbers don’t stack up, move on.
F) Everyone has differing “right” times to buy. For me it’s as soon as I’m able.
While these factors are not rocket science or anything new, I do try and stick to them with each one. As far as taking the step? Due diligence while educating your-self and just doing it (within reason and without being irresponsible). It gets easier with each one in terms of knowing what will work for you and what won’t. Slowly building a track record (over 6+ years for me) of investing has especially been easier on my relationship with my bank manager.
Hope this helps ya!
Cheers
HutchI'm confused too wealth4life………Ramblings.
Take a breath. What is your point exactly? That you are an expert with battle-scars and we are all too young and dumb to understand?
This whole forum is full of opinions that are not facts, just opinions.
We all have been watching the negative media and doom and gloom on the news and I don't buy into it for one second.
The original question was, is the current stock-market crash likely to have a flow on effect to property in 2007 and beyond ????hi crashy
great timing because my American friend (living here now) and I were arguing about this over a beer yesterday!
He says that in the states, there is no direct correlation between the two and that there shouldn’t be in Australia either.
I disagreed with him about this (for the Oz market at least). I was bought up on the old adage that “When stocks are flying, developers are buying. When stocks are bellying, developers are selling" !BTW: A couple of beers never really help the argument either
I’d love to hear other opinions on this too.
Cheers
HutchHere Here beaniemonster!
"It is not my place as a landlord to listen to stories of why the rent can't / isn't being paid. I'm sure someone out there will not agree with this hard approach, but business is business."Don't put up with it.
I'm also sick of hearing a new "Once upon a Time" story from some of my tenants, in a different marketplace it may be a different story, but right now………..Hutch
gee reeco,
No one is holding a gun to your head to do the program. I thought you said that you definitely put things in perspective?
Education across the board can cost alot more than this and I agree it is all relative to how you use it (no quitters or whingers need apply!). Have you forgotten that's it is a min 12 month program??My theory was that's about $625 per month max. Yes it's alot, but so is the disposable income that we spend on crap!
Property Investing is not a hobby, the stakes are high and you need to be educated in some form or another. How you do that is up to you. I do know that If I wanted to get into the stockmarket tomorrow, I would be doing everything in my power to get an education before I spent a cent on a share. It sounds as if already talked yourself out of it anyway. So you you may have answered you own questions.(FYI: After doing a few IPs in 2003/04. I decided to do the very first Premium program (05/06) and while it challenged the hell of of me, I haven't look back. But I never looked to blame anyone but myself it I didn't get anything out of it ).
Cheers
hutch
Are we able to maintain repayments and overheads (with income/
