Replies Created | Forums | kay henry | PropertyInvesting.com

Forum Replies Created

Viewing 20 posts - 1,621 through 1,640 (of 2,632 total)

« 1 … 78 79 80 81 82 83 84 85 86 … 132 »

kay henry
Member
@kay-henry
Join Date: 2003
Post Count: 2,737
March 27, 2004 - 9:04 am
geo,
You need to think about why you’d do a Jenman course. Have oyu read his books? Do you agree with his fundamental philosophies and belief systems? There is basically ONE public place in Australia on the net for the public to get alternative perspectives on the RE industry- and that is Jenman’s site. People will either agree with what he says or how he says it or not- that is up to them.
If you haven’t decided if you believe in his underlying tenets, then why would you do his course?
And if you’re enjoying Jamie’s system, then good. RE is all about learning. geo, the only way to answer the question “WHO DO I BELIEVE?” is to o as much reading as possible about Jenman’s philosophies. If they puss you off, then that’s your answer. It’s not really about who is “ethical”- it’s about what you believe in and the way you wanna do business.
kay henry
kay henry
Member
@kay-henry
Join Date: 2003
Post Count: 2,737
March 27, 2004 - 4:50 am
[baaa]
kay henry
kay henry
Member
@kay-henry
Join Date: 2003
Post Count: 2,737
March 27, 2004 - 4:17 am
sis! It would be great to see you again tomorrow! I know you’ll forgive me for grilling you on here :o) Buy you also know I have to understand things, and so I ask questions. If things don’t seem possible to me, then I have to work out how it could be possible- otherwise confusion gets to me, and I look like this: [wacko] whereas I would rather look like this: [hmm] hehe
kay henry
kay henry
Member
@kay-henry
Join Date: 2003
Post Count: 2,737
March 27, 2004 - 4:04 am
No offence taken about school, TAFE and uni, sis I know they’re pretty old-fashioned/conservative in what they teach re economics/finance.
Is thing thing you’re talking about got to do with what you and I discussed one night at the pub? How oyu buy properties and they can each increase by 10% and then you use that 100% (10% X 10 properties) to buy another one outright from equity?
kay henry
kay henry
Member
@kay-henry
Join Date: 2003
Post Count: 2,737
March 27, 2004 - 3:41 am
so sis, referring to redwing’s post… the “domino theory/effect” is actually about using a guarantor because you don’t have enough deposit, working, buying properties, and using equity from one to buy another?
Ummmm… isn’t that what we all do (the bits after the guarantor)?
kay henry
kay henry
Member
@kay-henry
Join Date: 2003
Post Count: 2,737
March 27, 2004 - 3:19 am
sis,
Given that you’ve just started using this term, did you have it in mind when you bought your 12 IP’s? Or is it just a new thing that you’ll use for future purchases? Did you study the concept at TAFE or did you make it up?
kay henry
kay henry
Member
@kay-henry
Join Date: 2003
Post Count: 2,737
March 26, 2004 - 8:36 pm
Probably a waste of time unless one was into buying OTP’s. Always good to get an idea of what’s happening with prices though, I think.
It does say though, that there’ll also be info on the following: private housing, residential development, commercial office, industrial, land and rural development, country properties, hobby and commercial farms, retirement, holiday homes, coastal developments, community developments, resort investment, golf clubs and retirement villages, retail and shopping centre developments. Plus mortgage and investment loan originators, conveyancers, financial planners, advocates and advisors, agents, developers, land sellers and property marketing companies will all be present at the 3 day show.
Thanks for the reportback, Perky :o)
Plans for Sunday. The thing starts at 10am so I’m thinking we might be able to meet up at 10.15 at the Sydney Morning Herald stand. That’s M23 on the floorplan, and it’s not far from the entrance :o)
For those who have given me your mobiles and a times you can meet up, I can call you and find you at the times you’re able to make it :o)
Lots of fun! *claps*
kay henry
kay henry
Member
@kay-henry
Join Date: 2003
Post Count: 2,737
March 26, 2004 - 1:50 pm
PG- yes, but you still have to pay the money back. Plus expenses I guess I would also expect sis to have some of the same concerns about his IP’s that the rest of us do- shitty tenants, no tenants, to reno or not to reno etc etc etc. These ARE bricks and mortar- and they require a lot of upkeep. Please don’t hate me sis- I just don’t understand how you don’t have the same questions on the forum that the rest of us do- landlord questions. The domino effect doesn’t stop us needing to know which insurance coy people might use, questions about QS’s etc.
Ya see what I mean?
kay henry
kay henry
Member
@kay-henry
Join Date: 2003
Post Count: 2,737
March 26, 2004 - 1:20 pm
PG,
I am genuine about asking these questions, as I believe are others who’ve asked. I just didn’t know that having a guarantor initially (which is of course what would be needed) could then lead to so many IP’s in one year- independent of the guarantor. Banks are all about “risk”. I just don’t know how they’d lend so much to a person on a part-time income. It puzzles me. I don’t care about “secrets”- it’s all words to me anyway. I just think it’s healthy to be skeptical about the mechanics and possibilities of things.
I mean, if I understand that it *is* possible, then I guess we all can do it, right? sis isn’t wrapping- he’s just buy and hold- the old-fashioned way- i guess we can at least replicate half of those successes- given that the market has flattened.
sis keeps mentioning opportunities coming up that means he can retire. An independently wealthy retiree at 21? Well, that would be extraordinary! It’s little wonder people have questions, PG :o)
kay henry
kay henry
Member
@kay-henry
Join Date: 2003
Post Count: 2,737
March 26, 2004 - 12:11 pm
Acey,
I meant if the property *in its entirety* cost me 100k instead of $1m.
Strange that people might feel a little defensive when accused of jealousy, when in fact, that isn’t the case at all. Guess some of us just feel that this was a conversation. Being told we’re just jealous is very silencing.
Acey, the first two posts you made on this forum were to “warn” PI.com members off another forum member. Noone called you “jealous” then. Presumably you might have become a little “defensive” yourself, had someone done so.
kay henry
kay henry
Member
@kay-henry
Join Date: 2003
Post Count: 2,737
March 26, 2004 - 11:35 am
Acey,
Perhaps you might want to find out a little about the forum members before you lump us in as a bunch of jealous losers. Therew might be a number of newer younger investors who see sis’s story, and think that it can be easily replicated, when in fact, I don’t think it’s that easy. I notice that on somersoft, people are often questioned about their statements. If I made a statement that I had bought a $1m property for say, 100k, I imagine people would firstly be skeptical, and then I hope they would question the hell out of my claim. I hardly think their cynicism might derive from “jealousy”, although some people might feel it. Most people would just be trying to work out if in fact what I did was possible.
kay henry
kay henry
Member
@kay-henry
Join Date: 2003
Post Count: 2,737
March 26, 2004 - 10:49 am
sis you know I’m not much of a money person, and it’s all too theoretical for me- i’m a simple person. I can hear all the theory in the world, but at the end of the day, i have to have money to pay for properties (wages) and I have lending limits.
I am interested sis, in your responses to Jay’s questions re C’Wealth bank policy, and the other stuff he asked, re revals etc.
As I have asked before, to do all your revals, to get house insurance, landlord protection insurance etc- this must cost you absolutely thousands sis. A reval is about $250. That’s $2,500 you would have had to find. LPI is 300 bucks per place- at least $3000 per annum. Insurance- about the same- another 3k. How do you find that extra 9k a year, sis? Surely your rents don’t cover all these additional expenses.
sis, as I said, i’m simple in what I know about property. I look at my own life, and the lives of those around me, and I wouldn;t have thought what you’ve done is possible.
Please explain
kay henry
kay henry
Member
@kay-henry
Join Date: 2003
Post Count: 2,737
March 26, 2004 - 10:15 am
sis,
I’m gonna ask some questions, given that the post hads become about YOU! hehe. It will help to educate myself as to your situation, because I have never thought it possible for a 21 year old who wasn’t born with a spoon in his mouth, to become a multimillionaire (well, you do “control” $2.1 million of property).
sis, we’ve all workedin our lives- some of us from when we were really young, and many of us have worked full-time since we were very young too. How come brenda irwin and other property investors with lots of IP’s have difficulty in continued borrowing, even though their props pay off themselves with rents? How can you continue to borrow with barely an income (now you have reduced your hours), but other people still have to maintain a full-time job (or 2 f/t jobs) to be able to borrow?
I guess other investors would be interested to know how you do it so they might be able to replicate it.
kay henry
kay henry
Member
@kay-henry
Join Date: 2003
Post Count: 2,737
March 26, 2004 - 8:35 am
Lane Boy, yack?? hehe. that is a funny name. Reminds me of a gay boy who hangs out in lanes- hence “lane boy”.
maximus, I like your approach ) I do like hanging out in newsagents also and checking out stuff.
API monthly- i’m in heaven!!
kay henry
kay henry
Member
@kay-henry
Join Date: 2003
Post Count: 2,737
March 26, 2004 - 8:30 am
sis, would you mind responding to my questions i asked before- that’s about how you got finance etc. Because it is VERY hard for a part-time young person to be able to get such loans withough a guarantor.
Thanks (can’t wait to eat free lollies on sunday sis!!)
kay henry
kay henry
Member
@kay-henry
Join Date: 2003
Post Count: 2,737
March 26, 2004 - 3:02 am
SECURITY!!!!
kay henry
kay henry
Member
@kay-henry
Join Date: 2003
Post Count: 2,737
March 26, 2004 - 2:55 am
Russ,
sis is also interested in parties and women. The point of my previous post is about people having unrealistic expectations. I could spent no $$$ as the a 20 year old- when sis began his portfolio- and still not have been able to build a $2.1 million portfolio in 12 months on a part-time income.
It’s not about the good and clever make it and the lazy good-for-nothings don’t. It is about what is possible. And what may have been possible for sis has probably not been seen in Australia before. That’s why I suggested some time ago that sis have his story written up in API mag- because they would find his story just as incredible as many of us do.
kay henry
kay henry
Member
@kay-henry
Join Date: 2003
Post Count: 2,737
March 26, 2004 - 1:05 am
wayne,
Inflation is again predicted to be within the target range of between 2%-3%. Last year, it was 3.2%. the year before that 3.4%. The only wild variation was after the implementation of the GST, when it was 6% a few years ago (2000-2001).
I believe inflation will be around 2.4% this year. We’ll have to wait a few months to see. But that’s hardly “deflation” banana republic style. And one can’t have it both ways. Inflation is not a good thing for consumers. Who wants rising prices and devalued purchasing power? Australia’s record growth can partly be attributed to inflation being managed, and remaining within its targets.
I get the feeling some folks want us to sell up our RE in a panic and buy shares instead?? Falling prices in RE is NOT a bad thing, if you’re a buyer. And most of us have made our CG in the boom, and now we want to buy again. RE investors are *always* wanting to buy- it’s what we do!
So why the sad faces, guys?
kay henry
kay henry
Member
@kay-henry
Join Date: 2003
Post Count: 2,737
March 25, 2004 - 11:14 pm
PurpleKiss,
Get some quotes from professionals before you do a homejob. I have seen some hatchet do it yourself attempts, and you would have to wonder if a tenant would tolerate it.
We had pro’s do our floors a few years ago, and it cost less than you would expect. Mini has also put a post on here about floorboards and how much it cost. The cost is pretty similar to doing it yourself.
kay henry
kay henry
Member
@kay-henry
Join Date: 2003
Post Count: 2,737
March 25, 2004 - 11:09 pm
lifeX,
I see where you’re coming from, but I think it’s also a good idea for people to know there are *limitations* to the millions and millions in RE- based on their personal circumstances.
Some of us are mere workers, with a range of expenses, interest rates have risen a bit and may rise any or every month, for all we know. I am not being “doom and gloom” about this (hate that cliched term). I am merely saying that if it all seems too easy, then perhaps one might look at one’s own circumstances and know that it isn’t that easy for everyone.
Banks generally don’t loan to people with poor incomes. They are considered too “rent-reliant”. I remember seeing people like Brenda Irwin and others in API saying the banks won’t continue to provide finance to them due to perceived or actual rent-reliance.
sis, how did you get around this issue given your part-time income? Surely, at some point, the banks say no- *despite* assumptions of full-tenancy etc. And how do you afford the extras? like landlord protection insurance, house insurance, maintenance etc? All those out-of-pocket expenses?
kay henry