Forum Replies Created
Chan, you can have my job when I retire (soon hopes).
I work in the evenings waiting for breakdowns and get a lot of time surfing forum.win win winGreat thread by the way [specool]
lifexperience
I’ll second that motion, cel.
Anyone else wanna sign up [dead2]
lifexperience
To answer a question with a question:
What is your investment strategy? Capital Gains/neg. gear or positive cashflow?This is what i’d do:
If it’s +ve cashflow,….then to maximise and speed money you can put into investing,you choose whichever is cheapest for your living expenses.
If renting is cheaper than owning a home (include all expenses) than RENT (usually cities)! and buy lots of IPs.
If all your home owning expenses is cheaper than renting buy a home (usually regional).If it’s Capital Gains (and neg gearing), maybe buy the biggest home you can, tax breaks!
If ya single and young, then get some mates to move in either way, they can pay board which helps..
Good luck with your researching,[biggrin]
lifexperience
Balliez,
Well done, for thinking ahead man. I had the goal of getting free of money restraints early too, I stuck my head down and worked my ass off for a few years to build up deposits for houses.No loans for cars (lots of time fixing ’em though), no fancy toys on credit, and established a very strict budget where I put a bit out of the money i earnt into my savings before anything.
However I still partied hard. Don’t lose the opportunity to socialise, and regret it later. You are only young once!![sick3]
4 years later, i am in a position where i might be able to retire in a year. I am of course taking risks (i am basically single though), And as far as I can see you do it in as little time as you wan’t.
To do it in a shorter time, all you have to do is find a faster unique way, and don’t let people put their limits on you..(internet businesses are perfect examples)
And beware of promises to get rich quick, It ain’t that easy!!
GO GET EM DUDE!![thumbsup2]
lifexperience
Pisces, elves,
Good Luck fighting for change. You are jumping into the cycle of revolution that range from times of hardship to times of comfort .
This country is in comfort mode where inaction and apathy rule.And gov’t regs evoke only mild responses.Have you considered making your properties a separate country. I have heard of a guy doing this in the gippsland area, don’t know details. All we would need would be a barter system for dealing props, and visas for renters.
Just an idea, you will have to get really creative to beat the lounge and tv controlled mentality. hope this helps.
Or sell all ya ips quick, and buy your own tv and couch company. Control the couches, and you control the couch potatoes, control the couch potatoes and you control the remotes, control the……………………………and then you get the power.
[biggrin]
lifexperience
Thanks for input Lucifer
lifexperience
Not quite CD,
I’ll try againDoes anyone wonder if they are taking advantage of someones desperate circumstances?
In this particular case i am charging a higher amount than market, it will only be short term and i am helping them build a rental reference. So i have just decided that i am ok with the deal.
I do know that a grossly overpriced 30 year wrap deal was their other option, which would have been disastrous for them long term.
Do other investors shoulder a certain amount of responsibility for doing the right thing.
Or is it CASH, CASH, CASH.
I don’t know, maybe i’m a bit soft?[glum2]
Who would you choose, good tenants with great history OR potential risky tenants in desperate circumstances?
( Assuming you could afford to take the risk)
lifexperience
Acey,
I find your input to usually be very valuable, so don’t take offence,,, however on this matter:I see the PM s as the ones getting their hands dirty. I have a lot of respect for any time spent at the nitty gritty end of the line.
I would consider leaving my current job(which is great pay but unrelated to property ) and even taking a pay cut to get some valuable experience in the industry, even if it was just until FREEDOM arrives. It might even speed up the process.
As a tradesman, i notice that the best engineers had spent time on the shop floor.
Just wondering if the same applied to investing?
lifexperience
Rugby,
Good answer.Is this a career path anyone can comment on. Good, bad, overworked, under paid..?
lifexperience
Any one know how to get great returns from investment properties without buying any?
Anyone guarantee what they think the market might do?
Anyone?[buz2]
lifexperience
Yay.. Buyers market!
I’ll have one of those and two of these ones and a mixed bag of those ones,
oh.. and i’d like it cheap
and i’d like free wine and please call me “knight of investing”
oh.. and you two agents that shrugged me off last year you can get on your knees and………..
only joking.I might pay extra for properties, go against the flow y’know. Orthodox gearing. (where you pay more for properties in a down market to claim insanity at the bankruptcy hearing). he he
All to get that padded cell that money cant buy.[biggrin]
lifexperience
I pay $40 once a month to good ole’ “Jims Mowing” . Renters usually can’t be bothered, builds resentment
I actually have a confession…. um….
um..
um…. when i was young and partying my hormones away I..I..
mowed the front strip of roses into the ground, “damn gardening..” i concluded at the time ” Why do I have to mow AND give money to Real Estate Agent”Ok I fessed up…(please note I always paid rent and repaired any damage i did… just for the record”
lifexperience
I am always amazed at the way people manage to justify what they do, with reasons that appear unrelated and looks on the surface to be greed.
Can’t say i know that persons history or experiences, i definately cant judge.
I am still amazed.
If everybody gave a little more, and held on a little less, what is the worst that could happen…………..you lose a couple of easter eggs.
What about the upside.. good will is exchanged, you create better tenant loyalty…world peace is slowly given a nudge.
[rolleyesanim]lifexperience
Bairnsdale is stuck in the 70’s (the boring part.) The town supports the local dairy area
and the community is very close knit. Ie; holiday makers would not get the same warm welcome as in lakes. more of a farmers town.
Easy to pick a fight in the pub, some country agro….
But… the highway gets backed up for miles every long weekend as melbourne flocks through there to Lakes area. So the city has on eye on this town.
Hop-e that helps.
lifexperience
[baaa]….p.s. see my shiny stars
lifexperience
Nathan, Can R.E. agents work outside of your regular job?
If so you could advertise for yourself.
“neon lights[oneeyed]” NATHANS BACKYARD HOUSE DEALS,[oneeyed] you could sign contract of sales over a bbq and a bit of backyard cricket.lifexperience
Ok, I’ll decide for everyone what the best choices are:
1. NO gearing
2. No properties for anyone, (yes, sell now bad choice guys)
3. buy 100 pairs lime green happy pants
2. buy 1 tartan top hat and a gold cane
3. limp on every third step
4. Join my cult as a sub-leader (FREE BADGE!)All your path should be changed to the correct one which is the path of an AUSTRALIAN IDOL.
Got it![strum]
lifexperience
peach, Good on you for deciding to chanel money and effort into investing. Action is good.
My personal opinion (and i have been wrong before), money spent on increasing your knowledge can possibly increase your earning potential by unlimited millions. And could save you losing the lot.
I’m preaching again, it’s this damn soap box i stand on instead of a computer chair. You did bait me with ya last post though. gobble [biggrin]gobble.lifexperience
Nathan, Congrats man, if you got city property with a cheap house. Two bonus points
1. Houses only lose value anyway
2. If you got the house cheap, take a punt on higher risk tenants. Bit more cash for you and you help out an ostricised group. (Not head in the sand birds…. poke poke)I used to rent a dump as a tenant when younger, we always paid rent and that prop sky rocketed for its land value.
[specool]
lifexperience
elves, i had 45k sitting in the bank at xmas. I bought three country props at 85%, and then used credit cards to whack in some extras for tenants. furnishings etc. And have managed to crank yield from 4% up to 30% on first two(yes this allows for extra costs of furnishings etc).(although i am taking on higher risk tenants as well).
If your credit card can make you a higher return than the interest, why would you cut ’em up. Do you impulse buy?, cos i have a 8 foot tall genuine (made in taiwan) egyptian mummy you could buy.[cap]lifexperience
