Forum Replies Created
cool thanks for that I just had a look at his sight and I will contact him later in the week to see what he has to offer
Thanks
Hi Jas
Thanks for the reply well said.
I mainly focus on buying established properties but I go where ever I see good profits to be made.
I shall try find some people with money to spare, most the people I know already know how to turn $1 into $2 but I will look further afeild.
Is there any good companies around that already have there hands on peoples money other than banks and that are keen to loan cash out
interesting question tho,
I have been thinking of this as well but I will put up 20% to 30% as the deposit on a property
but what would a private investor charge in the way of interest?
And how would you find a private investor?
The reason I am interested in this is not because I can't borrow money from banks but more for the fact that If I can find a investor that I can deal with one on one and he/she backs every deal I want to do and also can supply the funds within days not weeks then it would be a win win situation for the both of us.I think it comes down to the person, rather than the equity you have.
I know for a fact you can stop working with next to no equity I also know you can have next to no income and also live.
Like I said it comes down to the person.I've done it and I sometimes still do it I also have a mate that does the same thing
There's no point in me explaining how it can be done because 98% of you will say that can't be done, your dreaming to do that, hows that possible hahahah, you can't do that in today's market.
(but I can, I can do it in any market,) i've heard it all so now I keep it to myself and when family and friends say how did you do that, I just say the same way I told you last time, then they say your a tiny ba***** or a tin ass.
no not really just have the balls and no what I can an can't do and no how to look forward and always have backup plansSo it comes down to how far you can expand your brain and think outside the square
Once again It also comes down to the personThis makes sense
TCLinvestments wrote:This is a very interesting toptic.I have been pondering this myself for a while. HOW MUCH DO I NEED TO LIVE??
From month to month, day to day?? all expenses need to be covered, like car payments, maintaining a household, having one to two children, maybe take a holiday every year etc. How much does one resonably need?? In my mind, i am thinking of a round figure of about $8000 ( im not greedy) thats for me, my wife, and any kids that come our way in the next few years ( i am 29 in July).
I have a long way to retirement, but was hoping in the next 5-7 years, if i can achieve this $8000 a month, i will be financially free.At the moment, i am using rental income to achieve this. I will strive to buy as many positive cashflow properties as i can. (I can but i havent worked out how many i need. Eg if one property cashflows $8000 per year. i will need to find 12 of them to support my ambition.)
I hope this makes sense to someone,
I don't have any problem getting loans, I need it for another reason
Thanks Richard,
Anyone else have one
Richard or Terry, would you know where to get a ABN that is registered to a company and that has been running for a while.
maybe you have a client that may want to dispose of one?Terry, dnh83 might take a diary note of the advise you gave.
that would not be good if he gets auditeddnh83, I always pay by cheque but if i pay cash i want a receipt, its upto them if they do not put the money threw the system but thats not your problem you have a receipt you done it correctly, you payed cash to get a slightly cheaper deal but you still got an invoice for the job done
Thanks Scott, I uploaded rentmaster and it was good but my computer went realy slow, is there another one I can upload or is there away around having rentmaster and making my computer stay at the same speed. Thanks
Have you counter offered yet? if not he will pay $550k and settle in 6 weeks. thats my thoughts anyway, its less than $10k extra per unit to him.
Play ball with him and see how far he will go, but don't muck around thinking to long, he's in the game to do fast and quick deals and make money.thats my thoughts anyway
thanks
nats12 have you tryed tiling before? you get sore knees and the work soxs and you also get cuts all over your hands, so $50 per hour is chump change, and so is a turn over of $100k a year.
Jebro, give it a go as 6.3m is not much, you may want to wear gloves and also you may want to buy an electric tile cutter, they work better than angle grinders. you can google how to tile and you will find free video footage, it will save you buying a book
so your outlay will be 180k x 2 = $360k plus purchase price $520k total $880k plus hiddin costs
sale price $525k each total $1m50k less fees
profit less than $100k
I would be running a mile
you would want to be buying that block for around $300k then it will make it worth it
if I have to do work to a property i want 30% return or 20% if theres no or very little work required
Thanks Scott I will look into it.
Thanks Scott, I thought this would be the case.
plus I don't think there is a S317AE certificate, will this be a problem?
I went to council yesterday and the doupy bugga said it was 50sqm per car and also said well it can only have 1 tenant but I think he was fresh out of school and does not know what he is talking aboutI know I could not repeat a similar build but I just want to make sure that if I buy the existing property and then council come along and say there is to many tenants and no parking so i must only have 1 tenant. then I can turn around and say well this is the floor area and this is the land size 1 tenant or 10 tenants whats it matter it was built in the 70's and the current tenants are happy shifting there cars around, so leave it like it is. Or are they likely to say to bad release your tenants???
okay how about a free site with software where i can keep each property upto date with $ spent per building also where it can let me know when rent is due and also when a lease will be expiring etc
[/quote] My properties are worth btw 250-450k. Not too low nothing too high. I am trying to get the rent up on all of these properties. There is a difference in my mind btw retiring and being financially free. I want to have the choice to go to work. I want the bennefit of going to work becos I like the activity not becos i need the paycheck. That would be a great feeling. Just think of it. Nothing would be able to upset u. Nothing. Not the difficult customer, not the supplier, not the boss. No body. And to prove it. At the end of the week, give the money to charity!!! Try that!!! [/quote]
nothing really bothers me unless I loose a dollar, other than that just cruise along and take it easy even when I use to work nothing bothered me unless the job was boring but then I wouldn't be on it for long so it didn't matter to much and it was kinda fun working as my brain would be working out what I just made in the last hour and how much I thought I would make by the end of the day and also how I could make an extra few dollars.
hava good weekendI only study the Qld market and nz market but for the above I am talking about Qld
well said dwolf.
FHB would of needed a good size deposit last year, something around 20% I would have thought so this means that if they paid say $400k thats $80k deposit if properties drop 10% then i guess there $40k outa pocket but even with this they should still be okay as there mortage should only be around lets say 6% $369 pw, thats ok. it costs this much to lease a house.
I thought we would have got hit harder last year with the economy but with a few changes around the place made us stay quite solid but even still there were people running scared and there were still plenty of deals around.
I still think where gonna get hit hard if its not this year it will be next and when it does come i think the lower end of the market may take a hit of 20%wealth forlife $2.5m with only a drop of 10%? I watched 30% drops last year, got offered a property for $1.7m which the owners bought in 2005 for $2.550 I also seen plenty of others out there. there was one asking $1.8m then the next time i seen it they reduced it to $1.2m that was in the middle of the melt down, I am sure today they want more than that but I think we will take another hit and then it will stay still for a few years.
thats only my thoughts tho
