Seeing you’re overseas, you might want to know what other Aussies might know- just work out your legal position if you buy from Remax agents… some of them don’t have RE licences (they’re independent contractors). Seeing you’re so far away, I guess you want to be certain about such stuff. Check out the article below:
You mentioned that the rental return was estimated to be $300 a week. If the area is a low socio-economic area, then people on benefits couldn’t afford those kind of rents- it’s not possible to pay that on a benefit.
I am not sure about lower income people being better payers than higher income people. I think it depends on individuals really. I do know that beneficiaries HAVE to be very careful about where each dollar goes, whereas higher income earners have other resources to fall back on.
Thanks It seems like they’re selling a range of products too- cars, and telecom products to boot!
Re your comments Derek about buying 1 growth property and it reaching $1 million in a decade… well, I am not so sure… depends on how much it costs in the first place… or the property could also go down in value, although they have covered themselves by making sure the cycle is a few years either way.
If, for example, the sydney market “corrects” to 20% less than it is qworth now, then that’s 20% cut off our net wealth, which is something people NEVER talk about- we only focus on how much CG we have- not capital loss.
As for me, I like the idea of doing things slowly. $100 weekly is not a large amount… but I wonder what they’d invest that into? ING? Or something more speculative/risky? Their own developments perhaps, so investors into their club become mezzanine financers? [cigar] I guess the other concern would be if the company goes broke before a decade is up.
There’s an event in sydney in Kogarah too, if anyone’s interested- all you have to do is invest $100 a week, and the aim is to end up with a $million property in 8-12 years… the mathematicians / numbers people might let me know if this appears workable or not?
hmmm… wouldn’t you know how to work it out if you had read the book, boof?
The way I work it out- and it’s close enough for me… is to think of the purchase price (say 50k) and then double it to work out the rent ($100 per week)
Jason- bummer. I wouldn’t buy into that Waine street block. An old gf of mine looked to rent one of them 6 years ago when she was in Australia- and really, they were awful. Also, that particular street is scarey- in terms of physical safety. Basically, that place is an old-fashioned high-rise that has become slum, and is well-known (notorious) in the area. There’s always a number of them for sale.
Also, with BC fees, rates and water, it’s almost $3500 a year cost. Not for a slum, I reckon.
As to misleading advertisements… at the time, my old gf and I looked at renting a place in newtown (before I lived in sydney), and the ad said it had a bathroom… yes it did- but the bathroom had to be shared with the neighbours, and the workers AND CLIENTS of the hairdressers’ shop in front of the apartment!
mgr.. empower yourself! hehe- I just said that because I saw tony robbins- hehe. Seriously, you must have heaps of money to spend if you are going to spend 50k on “add-ons”… as Derek said, this expense is non-tax deductible, and it doesn’t mean the property is worth more than you’re paying for it… generally, the “discount” or “wholesale” property spiel is bollocks.
If you want to start checking out RE (I know you’re overseas), look at realestate.com.au and go to the Australian map, then the Qld map and click on Redcliffe… then ring up some real estates and ask them about the area.
Also, make sure you get idependent valuations done. It seems the marketeers are alive and well… now they just call themselves buyers’ agents.
You can find out everything you need to know on the internet- everything about aussie real estate. Redcliffe has had substantial growth, but as you’d be aware growth is slowing everywhere, and you’ll be paying top dollar if you’re coming in to a market that has peaked. Redlands has also had a reputation as being a depressed area.. but it’s advantage is the coastal location. But when you buy into a depressed area, remember that rents may not be as good as first thought, because of the low income renters’ pool.
It’s obviously up to you, but I would be exptremely cautious for all the reasons others have mentioned. I think you can’t beat independence. If you read *everything* on the net about areas, and you spend a few bucks calling RE agents who have no interest in a particular property, and then you fly over and spend some time in the area… well, you’d still be saving tens of thousands.
I think a lot of these things depend on personality. Let me begin by reiterating that I think Tony Robbins has a great personality, is broad in his focus, doesn’t speak in cliches or like he’s rehashing a number of other authors, and he is very chilled out.
I found the activities difficult- lots of dancing and jumping, yelling, hugging strangers and stuff- I just found it extremely challenging. So I either stood up, punched the air, danced, shook… and felt embarrassed… or I sat in my chair and kind of felt more out of place (because everyone else was up and jumping etc…)
Actually, Tony was saying that we all get out of the event what we put into it, and all of these people had paid large sums of money for it (some had paid $1400, they told me). I agree with him that one gets out what they put in; and he also said that if one put lots of *energy* into it, it would make one feel happy… and I agree with that too. It was just that it is not my style to do such things. I have to say, others felt more at ease with it than I did- which is great )
I think people would really like Tony’s style- he is a very funny guy- withpout trying, and he is as fluent as you would find. He also swears like a mofo, which made him seem more laid back and non-corporate than I expected- I am unsurprised that he is so popular- he’s very likeable.
What he says makes very good sense- his content is well0-thought through and doesn’t seem artificial – it has universal application and he isn;t like a “marketeer” who puts people down. He wasn;t doing that “winner vs loser” stuff- which I think is gross.
I did feel uncomfortable when he asked audience members who was depressed, and a woman said her husband was having an affair and was going to leave her- she was just so sad and upset… and as a demonstration of how she could change her feelings, he asked her to remember an orgasm and to emulate it- all there in public. You see, that kind of thing kind of makes me cringe.
Having said that, the messages Tony Robbins has- well, I think it’s all good- and I can be a tough critic. I really think the guy is a sweetheart… I just think that someone else- someone else who can enter the spirit of the event… would gain more benefit from it than I was capable of doing.
and sonja- if you’re reading (until I can catch you and speak to you), I am SO grateful to you for the opportunity- I’m still gonna repay you somehow, even though you gave freely )
Are you thinking about passive ways? Or active ways? (ie a job) Are you confining the Q to property only?
In terms of property… one could:
* write an article/book review etc to get published in a property mag or online;
* do some spotting
As to other stuff… some people buy vending machines, which they consider passive income- it kind of is- if going and filling up a machine with nuts each day is passive.
There’s a heap of ways to make money- but most require labour. What kinds of things are you looking for?
Yep Brenda, and you don’t feel very special when you get an email titled “FWD: FWD: FWD: FWD:…”
I have a numbers thing… I have to remember so many numbers at work- photocopy code, office door code, STD access code, and I fear if I lose my work diary, then I lose my entire corporate memory [guilty]
Mu bunch of keys looks like I am a prison warden- but how does it happen that I forget that bunch of keys every few weeks and lock myself out of my house?
I also hate it when I answer my home phone with a catsbum voice and say “kay speaking”- it’s embarrassing!
And why do I have 4 email addresses? How many ether addresses do I need before I can feel at home?
Thanks Brenda! I like that one- I alomost even smiled, but then I realised I don’t actually smile in 2004- I just use emoticons to express my feelings, so I don’t stretch my real life face, so I did this instead: [biggrin]
I wasn’t referring to their seminars- I was referring to their mentoring services- I still think the “mentors” would be pushing people into buying certain products via the mentoring.
No, I haven’t had any mentoring- I can’t imagine doing so. I do have friends and family that I discuss ideas with though, and I participate in this forum and read everything I can get my hands on, so I guess I mentor myself )
Thanks Terry Really, I think if you can’t muster up 30% for a property in the inner-ring of sydney… then maybe you can’t afford that particular mortgage. LMI sucks for large mortgages.
kay henry
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