Forum Replies Created
Hi Katie,
Getting rid of your personal debt is a great feeling – I achieved this in 2012 by selling the first property I developed (originally as a PPOR).
Have you chosen the business model and content/topic/market that your internet income accelerators will be targeting yet?
Kevin.
Looks like a busy year ahead for you, Tim!
What methods will you be using to generate income on your two new web sites, and what are they going to be about?
Kevin.
Hi Ian,
Do you know yet what kind of products you will be selling on your web site?
Kevin.
Hi Donavan,
"From 0 to 130 Properties in 3.5 Years" was Steve's First Book, and a must read before "0 to 260". You should be able to find copies of it very easily at most book stores – I even managed to purchase my copy from the local Big W.
As Kara mentioned, Steve's new book, "From 0 to Financial Freedom: How to do it Today", is a really quick read and has a great flowchart that you can use to help decide which property investment strategies are most suited to your situation and goals. You can pick up an ebook copy of it from Amazon for $5, or it's $12.95 in most good bookstores – I've seen it at the local QBD.
Good luck!
Kevin.
Hi Ross,
One of Steve's tips from his first book was to put a sunset clause on the offer form – ie Expires Friday, 4pm. That way, you can try and force the vendor to respond quicker and accept the offer.
Otherwise, I think you've covered everything that I'd be including in the contract for purchasing a single dwelling with no subdivision potential. If you were looking to subdivide, then I'd be including "Subject to satisfactory soil test" as well, and have the engineering firm that is used by your builder to go and perform a soil test in the area where you'd be building the second dwelling and report back.
Hope this helps.
Kevin.
Hi Donavan,
If you're looking to buy an investment property in a self managed super fund, I'd strongly recommend that you check out ESuperFund.
Their web site has plenty of information and should answer all of the questions that you have around what is/isn't possible both now, and after you retire. Also, their establishment and ongoing fees are a lot lower than dealing with an accountant to manage your SMSF as they've automated a lot of the procedure.
They have a page on their web site that covers using your SMSF to purchase residential property with borrowings that explains everything in detail – you can check it out here.
One of the things you'll need to keep in mind is that you can't develop property (ie buy vacant land and build), or even undertake a renovation when purchasing in SMSF. This means you're only looking at generic growth/buy and hold, which for many areas is likely to result in losses while the SMSF holds the property.
Also, as someone else has mentioned – diversification of assets is important in your super fund. If you're relying on one property, and there's a slump in the market when you need to sell, it may not be the best investment.
Hope these few tips help.
Kevin.
I know I'm digging up a bit of an old thread here, but I thought I'd post this link in here anyway.
I wrote an article for my blog a couple of weeks ago that talks about how I got started in property investing – you can read it here: http://kevingrunert.com/how-i-got-started-in-property-development
Feel free to hit me up with any questions you may have, preferably in the comments section on my blog.
Part of my blog is dedicated to the journey that I'm on with property investing – http://kevingrunert.com/category/property-development.
I also have other stuff on there, including stuff about personal finance as well. I'm working to add one new article per week across the various topics on the site, so be sure to sign up for my email list (form is at the bottom of every post) to get a link to the new article emailed to you each week.
Have you attended any of his events or purchased his system?
