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  • Profile photo of Jenny1Jenny1
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    January 16, 2005 - 11:38 am

    Hi Julian2

    I think it is all a bit mind boggling sometimes, yes I make my money work. I have used equity in my properties and currently have offers out on 2 new ones at the moment.

    It is all very exciting as I love the process the negotiating, as I am on the net everyday there is so much choice but not knowing whether I have a dud property tying up my funds…I know need to be patient.

    Thank you for all of the comments posted.

    Jenny1

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    January 16, 2005 - 11:20 am

    Hi Easymoney

    Do a bit more reading (borrow from the library) Margaret Lomas books are a great read, she doesn’t even go and look at the properties does it all from over the net after she has done all the research, she makes a low offer and gets a building inspection done.

    I think the more questions you ask agents (just don’t go on what the selling agent says) ask other agents in town re what property is worth what rents etc etc. The more questions you ask the more informed you will be when it comes time to buy.

    Look around your own town (as you know it better than anyone else) keep your eyes and ears opened for people selling etc. Remember 11 second rule is only a guide! [biggrin]

    Happy hunting

    Jenny1

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    January 15, 2005 - 6:58 am

    Jenny,

    From my wife’s point of view the decision would be quite easy to make. If the tradesman had

    A) Bulging pecs and rock hard abs – the answer would be “Anytime honey bunch”…or

    B) A huge beer belly with the obligatory arse crack hangin’ out of the Stubbies – the answer would be “Anytime honey bunch”…

    You see, if it was a good deal…it’s a good deal ??

    Any help there Jenny ???

    Cheers,

    Dazzling

    Hi Dazzling

    Love your wit, but unfortunately none of the above (come to think of it I only seem to get B’s to do any renos must work harder to get an A!)

    Tennant is 19 years old as skinny as, but a great tradesman…Think I will take Brenda’s advise at this stage..Thanks again Dazzling

    Jenny

    Jenny1

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    January 14, 2005 - 8:31 am

    Thanks Brenda for your advise, I wasn’t sure on how it would all pan out.

    I just love this forum, for any question, you can bet someone out there has been there done that and we all benefit!

    Jenny

    Jenny1

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    January 8, 2005 - 12:41 am

    I agree with all of the forum thoughts. The only one to make money here is the agent with his commission selling it for you and then again when he resells.

    Jenwren is on the money with her increasing value tips, could easily do any of these to add $’s build equity and start increasing your port folio!

    Cheers

    Jenny[biggrin]

    Jenny1

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    January 8, 2005 - 12:19 am

    Thank you everyone for your replies[biggrin]
    I have made an offer on the property (QLD)270,000
    thinking this is a fair price considering 25-30,000 needs to be spent to renovate. Owners came back and are asking $280,000 would you up the offer in lieu of money needed to fix? I was then going to rent out the house at the front (rent approx 250.00 pw) and down the track depending on cost either subdivide or build…what would forum do?

    Many thanks

    Jenny1

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    January 7, 2005 - 3:04 pm

    Come on guys I got to get some beauty sleep thought someone would give me direction!

    [biggrin]

    Jenny1

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    January 7, 2005 - 2:41 pm

    how much are the repairs worth?

    what is the property truly valued at.

    what value would you expect once renovated?

    Byronent
    Adelaide SA

    Hi Byronent

    Roughly would need to spend approx $25-30,000
    Other houses in same street that have been fully done up are reselling $340,000+ but at this stage only wanted to freshen it up, have not had it valued at it’s true worth as yet.

    Cheers Jenny[confused2]

    Jenny1

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    October 31, 2004 - 11:51 pm

    [biggrin]
    Have you read any of Steve’s books it goes over lots of different ways to aquire property with little or no money.

    He also goes on to talk about property that doesn’t perform from day one (re your negative geared property). Might need to go over figures again see if it is worth keeping and use equity to purchase other properties or cash up to then only buy +cf properties.

    Good luck

    Jenny

    Jenny Jordan

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    October 19, 2004 - 12:45 pm

    [happy2]Thanks Kelven, it is great having people on this forum to bounce ideas off. Sometimes you already know the answer but at times it’s hard making decisions on your own. Must be the libra in me hate making decisions!!

    Thanks again

    Jenny

    Jenny Jordan

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    October 19, 2004 - 12:30 pm

    [biggrin]Hi Derek, thanks for your reply I am a young chicky babe 48yrs old as of yesterday.
    I am in a unique situation as I live rent/utilities free as part of my package. I work 2 full time jobs. I have 1 negative geared property 1 neutral, and the other positive geared.
    All IP’s bought before I read Steve’s book, or otherwise all IP’s would be + (and then perhaps wouldn’t have to work so hard).

    Because this money is a gift I just wanted to be able to do the best I can with it. All comments taken on board.

    Thanks Jenny

    Jenny Jordan

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    September 5, 2004 - 10:10 am

    [biggrin]Many thank for all your help, I suppose I have been just lucky and have had only had minor repairs.

    But I will take note and put money away for a rainy day (in case the roof leaks..that is if we ever have any decent rain!!).

    Thanks again Jenny

    Jenny Jordan

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