Hi Tanya, I am also based in Brisbane and about to get started. If you would like to chat about possibilities drop me an email on [email protected] This is probably not the best place to chat about these things.
Good Luck trying to find good quality properties in Brisvegas at the moment that fit the 11 sec rule they are very sparse.
Firstly let me say “WELL DONE” – its about time you faught back!
In the words of a song written by Jewel “if i could tell the world just one thing it would be that we are all okay, not to worry cause worry is wasteful and useless in times like these”
“I won’t be made useless, I won’t be idle with dispair”
Keep doing what you do best and don’t worry about the knockers unfortunatley our nation is full of people who spend to much time watching and critising from the side line and not enough time getting into the game themselves. These are the ones who are left behind.[]
Having read all the posts on this subject and the website quoted and all the RK books except Prophecy, I feel compelled to make a simple comment.
Why is it that those people who like to defame and critic others are usually those who are operating under the tall poppy syndrome? Further more RK’s books provide a small snippet of information regarding investment strategies and the like, anyone who rushes out and invests in anything purely on the strength of that information is headed for financial ruin because they have not exercised wisdom, knowledge or tried and tested practices of due dillegence.
Get hold of Steve’s book and some other investing books. Not trying to be rude but if you don’t understand these terms then you are not ready to invest in real estate. Attend to your education before you invest you will be much more likely to succeed.
I am no expert because I am just in the process but one thing I have learned is that you cannot afford to give up your job until you have at least 3 months worth of expenses in the bank and your positive cashflow is greater than your expenses each month. How you acheive that is really up to you. Have you read and played Rob Kiyosaki’s “Positive Cashflow Games” This will give you a great understanding.
Just a couple of things to note about ipswich – watch out for old mines (they still have not mapped them all yet) so do your searches carefully
Also Boeing have just renewed their contract with Amberely airbase and the air base is expanding over the next few years. Expect up to 6000 new servicemen and women in the area over the next 3 years. Property prices are still going up but bargains are out there. Expect to pay $140K – $170K for standard 3 bed post war home in reasonable condition in some areas. This is a great little town and is growing fast. Check out the Ipswich City Council website for demographics and other information regarding due diligence.
Hi all,
My thoughts are thus, although the baby boomers are aging and will quite probably begin downsizing their homes. Many of them did not buy larger 4+ bedroom homes to start with.
Also in lower socio economic areas such as in Brisbane the former housing commission areas which have almost all been given a facelift and sold of to first homebuyers, these younger people are being encouraged by the advent of the baby bonus to have larger families. Our population has over the past several years grown into the thinking that 2.2 kids is the average and that is just fine. But government is encouraging or at least trying too, women particularly to have more children and trend towards larger family sizes once more. With this in mind I think that there will always be a market for rental and wrapping 3/4+ bedroom homes. Many baby boomers are already making the move to smaller homes and even sea changes. The aging population is of concern and this is why the government has added the baby bonus and other increased incentives for young families.
So in otherwords tell your friends and kids to go forth and multiply. []
Where can I find Neil Jenmans book. This sounds like interesting reading. I am an ex RE agent and I really loved working in the industry but found it hard to work ethically with some agents.
Many of the statements made about Jenman agents sound very familiar. Although I must be a bit niave because I had never heard of them before.
We also are playing cashflow with our kids and trying to help them develop good money habits early. Not just investing but every day spending.
Our kids are brainwashed into thinking that credit is their friend and that you never really have to pay for anything “no money down – no repayments for XXXyears” thanks to the big chains for this one! But I have also wondered why the education system which seems to want to take the role of the parent in areas such as sex education etc has never addressed this vital part of life.
I am not sure that you have stated your question clearly, but will have a go based on what I understand.
Firstly, do you have a plan for your future with regard to your investment property portfolio.
Secondly, many of the advisers both on this forum and elsewhere would say NEVER Cross collaterise property. It is too risky.
Thirdly, if you had the property stand alone as a deal with the finance company then you would probably have more equity in both your own home and the property.
Hope this helps. There are ways to solve most problems. By the way probably the best place to post these sort of questions is in the general forum as you will get more replys.
As many have already stated there seem to be a lot IT professionals here. Me was a Coordinator for local charity group (contract finished on friday) Yippee!! [8D]
Next month will be focussing on property investing and fostering. Staying home most of the time. Almost Retired (aged 34) I am happy not bored.
I’m with Richmond. Net worth doesn’t pay the bills, put food on the table etc. I have a friend who has over the past year amassed close to $2 Million in negative gearing property which proves my point. That family is working to cover the cost of their investments because someone told them that capital gain is the investment tool of the century. We have been showing them how to turn their investments into positive cashflow and still benefit from their capital gain. Hopefully the message has got through. I write all this simply to discourage people from talking about net worth and start focusing on passive income.
This is the only way to ditch the job and enjoy life for what it should be.
Good question however I know of a couple of private sales that have just sat on the market for some weeks when properties in that area are being sold within 20minutes of listing with an agent. One in particular I think is way over priced but what it does do is help slow the market a little and every bit helps if you ask me. Roll on rate increases. I can’t wait to start picking up the bargains that every one is panic buying at the moment.
If you are selling privately you have to do it properly. don;’t just stick a sign in the front yard and expect people to beat a path to your front door. Advertising is a must, flyers etc.
Agents earn their commissions for expertise in the field. (ex agent speaking) I like to pay people what they are worth. There is no substitute for good advice.
I find it amazing that so many positive people are commenting here. Hope you are enjoying it also.
As for your string – I hope that you have picked up from everyone else that the determining factor in all of this fear and negativity is what you do with it. If like me you use it to drive you to find out absolutely everything you can about the question and go into investing with both eyes wide open then you are on the right track. Ask your wife what specifically she needs to know to feel comfortable with your chosen investment and then spend the time with her finding out the answers. Your relationship is more important than millions of dollars in investment income. This is the voice of experience talking – I know because my parents are experiencing difficulties for exactly these reasons. Don’t give up on your dreams and aspirations but don’t let them destroy the most important asset you have either.
I have just finished reading steve’s book and I loved it. I thought that there could have been more meat but then he wouldn’t need to sell the other stuff now would he. []
Welcome to the forum. I have only been here a short time myself and am thoroughly enjoying it. Great discussions and loads of helpful information.
Call me conservative or just a plain old fuddy duddy but I am all for a positive cashflow property on P & I Loans. If you have to tweek the deal to make it positive chances are it isn’t going to remain that way if rates change. However, I am not doing traditional buy & holds anyway. Maybe I will change my tune with more experience. Just remember my grandmother saying beware of being endebted to anyone.