Forum Replies Created
Thanks Acey’
“Take a look at Buckminster Fuller’s inflatable Geodesic dome houses.”
Sounds interesting, whats that going ta bring? A Sydney Opera House feel to the rural areas [biggrin]?? Good if it does, but seriously that’s the type or line of thinking, we want on this duscussion (lot’s of ideas on ‘how to’s’ so can pick what’s best way) something transportable and with the minumin of fuss imperative!
Where can we have a look at these dome houses? is there a web site? I guess they come with a heafty price tag.
About sewerage: I remember speaking to a plumber shop when i was looking for ideas on how to do my house boat resently. They had a machine there in demonstration that basically vitamizes sewerage all you need to do is direct the flow to it and it does all the work; self primes – vitamizes sewerage – and can pump it up to about three story’s high ( so therefor can pump it in storage tanks above ground). It cost about three grand, but i imagine it other way to get it cheaper then buying it brnad new off the shops i.e. second hand or warehouse sales etc. But the benifit of this is that it would be transportable and easier to set up, less hazzle and no digging.
I haven’t seen the councils about weather or not this is allowd, but it’s food for thought.
Jaffasoft
Hi, I’m Jaffasoft, so i might be able to explain something [biggrin].
Firstly i would suggest you buy BuyerBeware, that will explain everything you want to know about doing the calculations! I was a dumbo and that’s what I used first.
But the very last input text field in the fifth step; is the current interest rate the banks offer. That interest rate is then times by the amount of money (or total purchase costs you spent to buy the house) this is the total amount of money you payed out of your pocket (real cash money) that you use to buy a property.
Say you spent $10,000 cash in Step 2).(which is the total purchase costs) So you go 10000 x 4%(bank interest rate) = 400. This is what they call the ‘Risk Free Return’.
In other words, the last input text field in Step 5). calculates how much money you would make if you put that money in the bank and not in an investment property! That’s all that bit does.
If you want to look at it in it’s simplizity, if you imagine you have $10000 dollars sitting on your table in front of you and you are wandering what you will do with it, you think to yourself , what would happen if i left that money in the bank for a year. Mmmmmm, you would think to yourself, i would earn 400 dollars a year if i left it in the bank and the current banks interest rate was 4 percent. But on the other hand if I could get 10% by using that money and putting it into an Investment Property that’s positively geared, you could make more money a year on +CF property. So that’s what that last bit is about. Whether or not your money is better in a safe haven (in the bank!) earning ‘Risk Free Return’ or trying to make more money by investing it in Positive Cashflow with the same money.
[biggrin] I hope I haven’t confused you, i understand that it can be confusing sometimes. But i do suggest you buy BuyerBeware, it’s close on 100 bucks well worth spending!!
Jaffasoft
The winds of change are upon us. I couldn’t agree more.
Thanks for the newsletter, it’s always good to have a read of your newsletter.
Steve, you have purchased some 35 properties in New Zealand in the last 12 months. Do you have any intentions of pursuing any more properties in the future, there…or do you feel that you will slacken off a bit.
JaffasoftIn regard to the newsletter, thanks i learnt something new in relation to submitting an offer, i didn’t know you could put two offers in on the one offer.
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Editted – Because it was stupid!!
My first question would be, “Who would want to live in a place like that?”Well I can’t beleive you asked that question, but the answer would be, ‘people tenants’. I don’t know what neck of the woods your in. But if it’s the city , that’s not the area I had in mind for the tenants.
I’m from the country , that’s where i grew up…it’s what i know..so i stick to what i know. And I know these type of miniture houses, as Sonya so nicley put it, would rent no problem around the area where I am from. And the develpment would be for places like this where the city folk or ‘Investors’ for the more larger towns, shy away from. Because or the risk of them becoming vacant. So the whole idea is to weather or not it would be viable in these smaller places where the rent would be stable for 5-10 years in populations of anything from 3,000 up to 10,000.
Screening tenants is the way to prevent the ‘Bronks’ mentality from happening in the area of your units, as i put it.
Sonya you put it right, somewhere between a house and a unit is what it would be. But with the units not joined together. They would actauly be quiet a reasonable place to live, and given the high cost of living, people are looking for these smaller units to live in.
But more importantly is this viable because if it’s not it could be nocked on the head as quick as it began. I’m not about to race out and do it imeadiatly because I don’t have the money, but i guess there is other ways of doing it (without money).
Transportation is an issue, so the units would have to be about 5 meters wide and around not too much longer then 10 meters long. Which is quiet enough room for a small cosy unit. Then a tranport truck can carry two at a time anywhere about 600 kilometers for around $2000 shorter the distance the better. And the structure does not need to be dismantled then! And maybee a fold up garage carport.
Sewerage, is something I’m not sure of the costs yet. But I’m thinking some sort of above ground system that is easily moved and able to serve all units in the developement. And the power only needing to be connected to one which connects them all.
Buying a block with power and water would be needed. I been thinking, ‘buy an older units and render the outside (or even the new ones) to make them look modern and weather that be cheap way to get them set up’?
Would be interesting to hear Peter Comben’s thoughts on this. I’m only new to this and would be interesting to hear from an experienced developer and weather or not you think this type of thing could be viable and if so ways and ideas on how to go about it!?
Thanks for the replies so far!!
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Positive Cashflow Financial Analysis Calculator Online“BTW what side of Albury are you?”
West side, so Inland, about 60 kay’s along the Murray.
Population of Albury Wodonga is 30,000 and the surrounding district’s a lot more, so surely there would be some people interested in property there.
Well I’m fairly casual about what type of arrangement it is. Could be a Pub a function room or someones house or a barbie if the wethers good in the next few months.
Don’t want it to be really a formal meeting but more a casual get together on occations to share the interests and chat with people who are interested in property.
Well your next good shopping spree, you might as well drop in and have a chat Sonja!
Hi Kay,
I realized I should have wrote the reason. I just moved to an area about 60 k’s out the road. And I was wandering a bit about the Albury Wodonga as an investment piont of view and as an area to live as well, so to get familiar!
Interested in meeting up with anyone into investing in property, that want to have a chat group meeting counter lunch or something.
Apparently they got some damn good port here, at Rutherglenn. So will have to get some of that for the boat
.Jaffasoft
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Positive Cashflow Financial Analysis Calculator OnlineI don’t expect the interest rate will go up next month either.
Least I don’t think it should. But I think it will amounst the time of the election or just after.
Thanks, interesting.
Well, there is a shearer who has been living in the units next door with there son, who want to rent the place, these shearers rent (some) of the units and rent them all year round even when there not there six months. Because they dont want to loose them! They are going to leave there son in the unit and they are going to move into the house a permanent for probably a few years.
There’s been people nocking on the door, so to speak to want to rent the house.
Yes there has been a mine development going on 27 kays away from the town. And also since I had a descussion with my mother, she says there are another 90 familes moving to the Hamilton region, they are a religios group. And they are buying up big, i mean the bigger classy houses like the doctors places and solicitors.
I have actauly made a mistake in those calculations. The delivery costs were 17 thousand. Thought it sounded a big big. So I need to reprint the numbers when i get a chance.
Sounds like you had a nice wod, to spend befor retirement. And good on you.
May I ask how much positive cash flow all six property purchases make per week and did you pay for any of them outright?
Happy Birthday Mortgage Man.
So what you gunna get for your birthday??
They announced another 80 million dollars to go into the Mineral Sands project…a couple of weeks ago!
Also the Portland I will follow closely to see what it does to real estate as a projest, with the wind towers going up.
Two years work doesn’t sound like very much though, guess it deppends on the size and the scale of the windfarms?
Provided you can get a mortgage. And that you are keen to invest in property. Since that’s what you question is about!
You could try the first home owners grant for one property. And if the property is around 50k then you will get change out of the grant, so therefor, the first property would be no money down! then buy a second property around the same price.
Also you will get stamp duty of whatever waived for the first house and thats about 700-1000 free again. This is all in Victoria of coarse. Varies for differant states.
Then you could live in the first house and study, and you would be paying no rent, just the costs to run the place. Which will in most cases be lower then the rent. And saving more… for more..more…more….more properties [biggrin].
My application went thru with a ‘ Married yes’ HuH I’m not married. And have children. HuH , I don’t have children!
I ticked the radio box’s of:
Married ‘No’ Children ‘No’.O’well, doesn’t worry, don’t know if it changes the chances of an application. But just thought I would let you know what it does!
Yeah, good idea! I was going to suggest it in an email.
Why not, if it doesn’t stop any attendence turning up. Because I know I won’t be able to go to any of the seminar’s in the not to distant future. But I would get time to watch a video or something.
Get dave running around with a camera [biggrin].
That’s alright, I will buy a swag in the meantime [biggrin].
So Lease – Is lease, an option to buy later on!
What happens if you lease and pay the rent and your biulding up a deposit money with a bit extra each week. And you get to three years and you’ve saved $10,000 deposit. And you decide not to buy it and to not rent it anymore and move on!?
What happens to the deposit?
Also if you wait three years in a cooling market can you get the option to buy the property at the market value. So therefore secure a property you might want (by using a lease aggreement) but buying it when the market drops in price?
Jaffasoft
I might be thinking on a different angle to this, sure you say don’t invest in a town that more then 7 or 10% vacantcy rate.
But why not try your skils at luring one of those, 90 -93% who are renting, but might like a change given the right insentives.
I could let a flat lay vacant for twelve months if i wanted to, in 100% vacancy town. Then in 90% vacantcy town go out and get someone, so going beyond the normal just ads in real estates. You could ask someone in the supermarket if they were looking for a nice place to live, when getting petrol, walking the streets, in shops, or anywhere. So you get a tenant yourself instead of relying on the Eeal Estate Agency. I think you could beat 10- 20% vacancy, because there is then 80-90% of people renting willing to rent, it’s a matter of marketing yourself and your properies to get them people!
Just some thought I had. May be wrong let me know if they are [blink]!
Can I have his old tent? Since he’s upgrading to a more luxury liner (you’ll be stuck up now SIS with a poshe tent [happy3]).
Mine got snapped [weird] in half from the witched rains we had the other day!
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