Hello Intrigue, I am a big real estate AND a big silver fan (I have been stocking up on silver since 2008). My plan is to buy as much silver as possible till end of  2010 and sell end of 2011 to 2013 AND then buy alot of real estate.

 Why not do both, I had a friend attend Steve Mcknight's market update last night in Sydney, Steve said to start preparing now to buy in February 2011 in Sydney. I don't know where you live or where you are looking.

Silver is volatile so is property, either way research. Research. Silver is easy, but it doesn't pay you income.

We live in exciting times!

Hello Steve,

thanks for sharing your story, I grew up in canberra and think of it fondly. Congratulations for getting your first property, not only that but successfully completing a small renovation on a small budget. It’s great you enjoy your job, as you can plan based on it. I can only speak of what I would do in your shoes. I would work on personal money management, so I you have to choice of either hammering that loan down so you have some equity in the loan (and lower repayments!) or you could aggressively save for 20% deposit for IP. You could do both so that in a year or two you can comfortably get a investment property with 20% deposit (could be a mix of refinance of your house and savings)

anyway that’s what I would do, your in a great position steve, enjoy it!

Hello,

Yes I’d agree with Vicky the key is the right city if investing there for a couple of years. I brought in Rotorua in 2008 for and it’s currently just paying itself off. the New Zealand economy isn’t great, and the good news about that is our the aussie dollar will buy you more. And their interest rate haven’t risen, very good news if you have a loan over there.
Steve Mcknight in his latest CD Masterstarter series talks of in the early 2000, buying over 30+ houses at once in Tokoroa and then selling then not too long afterwoods and making a large lump sum gain.

Also you need a team over there a reliable property manager, perhaps a accountant and a mortgage broker, a lawyer. this will give you peace of mind that it’s being looked after, after all a property is a pricey asset. And peace of mind is priceless.

Hello Grant,

I guess I am thinking of “strata” as in apartments a quarterly cost, I think with car park it’s just called “annual outgoings”
actually I found a site called http://www.findacarpark.com.au and below is an example of some of the expenses related to car parks
“The actual annual costs for 08/09 were –council $557 , water $160 , strata levy $445. From 1/7/09 the annual council parking levy is $2000 pa which can be paid quarterly at $500 per quarter”
this was the expenses on a sydney cbd carpark probably cheaper in other parts of australia.

looks like if you can find someone desperate to sell, you could get a good deal.

Hello Mazstar,
I am like you and my strategy changed a lot after reading Steve’s book (he really slams negative gearing doesn’t he? he he)

Now sounds like your ready to go, but might be worth taking a breather and doing some more research, asking yourself questions like:
1. is the local council used to subdivisions or am i going to be coming up against a lot of red tape.
2. Have i got a team ready, should i get a valuer in to give me advise on what it realistically would be worth now and after the sub-division.
3. sounds like you needs to speak to some builders to see how much it costs to build a house out the back, and the separation of utilities etc.

doing alittle more research before you buy may just give you alittle peace of mind.

it’s exciting you are thinking doing a subdivision!

Hello TLC Investments,

you are right, their is alot of various degree seminars. I know it’s a good seminar if I go home and I am so excited I can’t sleep, and that’s what happened tuesday!

Back to the US investing I shall continue research, it’s tricky as I can find several property/foreclosure sale database sites. But unless you have the other parts of the team, lawyer, mortgage broker, accountant looking into if it’s worth setting up a trust or company, and of course a property manager.

very keen to hear if someone has successfully brought and HOW..

Hello All,

scha9799, good question! what is the 250k club?, Steve on his book luanch tour is looking for 250 people to sign up to accept the make $250,000 from property in next 18months. Man, he was throwing in 2 x 3 day conference tickets may 2010, the master class started pack, and creating a networking group, some other things I can't even remember for the grand total of$585.

I paid $495 for a single 3day conference ticket in 2008!
so I was definitely keen. I think they would have filled the 250 just in sydney people were rushing to sign up.

but let me stress the 250k has nothing to do with overseas investing, i think it's about buying in OZ. and adding value/sub dividing.. Have to see… Why is steve doing this he wants to collect testimonials for future books, he mentioned it at the Book Launch.

Thanks for the update richard, yes it is tricky, it’s interesting we are talking about US property and tonight at Steve Mcknight book launch he spend about 20 minutes talking about the US market,
he went over and brought some houses (i think in florida) and several tax lien. he mentioned he’ll go into more details at the 3 day conference next year.

Richard would it help that I have a US passport and Social Security number, or the fact I live in Australia still makes it hard?