Forum Replies Created
G’day Ali, bah the negative nag sayers, the you’ll never do its and the be careful clydes.
Congratulations for commencing what will no doubt be the journey of your life. I was once told by a businessman look at the position of the person giving the advice then make up your own mind. In all due respect too those close to us but I’II be blunt. Most people live there entire existance is a place called Fearville. They are unhappy at there jobs(slave factories) and when someone looks too better themselves it hits a button deep inside their own person that says that perosn is progressng. And negative nag sayers hate progression. Most have been sold the line get a go too university get a good job and settle down with a Mortgaage. Bah what absolute untruths.I have gone to university and have a degree. What you are doing in persuing the world of property is great! Go for it!
I have one final suggestion to all those close to you read a book called The Roaring 2000’s- H.Dent. It predicts the next Depression. You dont want to have a job around the years 2010-2016. As a person who has been retrenched 3 times I commend you for your wisedom and hindsight to better yourself.
Go get em
Gerry[biggrin]
G’day Chris,
positive gearing can come in all shapes and sizes. A good renovation that results in cash flow can be positive gearing. However if I can give you a personal example as too how I have positively geared in the past without cash down.
I bought a 2 bedroom unit in March 2003 in Brisbane. Purchase costs were $66,500. The unit was rented for $150.00 per week and I received $20.00 in free money. Not a huge amount but this is a real life example. So buying in the right location can have something too do with it however its all about the deal. If we both bought in Rockhampton 2 years ago we could get 4 packs of 2 bedders for $180,000 rented at $640 per week. On the figures $6500 after all expenses in free money.
Im looking in NZ at the moment for these types of deals.If looking in oz you have too be patient.
Hope this can help
all the best in your search
[biggrin]
GerryThanks guys for the response
[biggrin]
Gerard
Hey Xon,
I think the key question you should be asking yourself is why am I investing?
1. Is it too build a cash flow positive propeerty portfolio and replace work time with cash fro your properties.2. Do you want too take advantage of FHOG, build equity and then develop more cash flow later?
Whats are your goals in property?
With $40,000.00 cash you can definitely make in roads too building cash flow positive property?
When I first started investing I like yourself had a substancial deposit and put it all into the one property? That property has since gone up I sold it and bought four more. Looking back I would have not have put it all into the one property when I started out? Depending on which
market you look at and what deals are available you may be able too purchase some nice little cash +ive earners.
The one question is why are you investing? For me investing is aking money from day one?All the best in your search. If you need any info on NZ Im happy too help.
Gerard
Thanks PG and geo
much appreciated
[biggrin]
Gerry
G’day Brisbane 04,
I have been through Rockhampton extensively. I do know that some of the agents in Rocky have huge rental rolls which can lead to problematic PM. As a was doing the agent crwal up there some of the agents bragged about their huge rental rolls. Big rental rolls, big problems!
Can I suggest that you give Jade Carr at Ray White Rockhampton a ring. My dealings with him have been terrific. He is an agent not property manager but has lived in Rocky most of his life and has given me true and accurate advice in the past.
Good luck
landburn
p.s if you want more info please dont hesitate to call me on 0439 933 679
G’day Domo,
hope this reply finds you well. I think it comes down too ” the reason ” that you are investing too answer your accountants comcerns. I can so relate too professionals who look down upon positive returns. I have often said too friends what are you investing for? If you are investing as a highly paid professional (slave) which most accountants are then losing money is not investing? I love to ask the question If negative gearing is so successful then lets play golf tomorrow? The answer is of course no because they have to work? I think most of us who invest for positive returns want to get out of our jobs rather than reduce tax. I personally happily pay tax, after depreciation and expenses because that cashflow gets me closer too my goal of financial freedom. I have a few friends who are negative gearers and most are extremely cash flow strapped.
Hope too see you on the worlds beaches
landburn
