Forum Replies Created
Hi guys,
Exciting post!
What about creswick north of ballarat, anyone got anything to say about that place?
Cheers,
AndyHi robbieP,
As much as interesting your strategy is I’m
Not sure how many under 150k property that rent over 1100 per month.
If any of you guys know any area that offer that please share.
I believe you can either find that price and not have many tennants available or viceversaHi guys, thanks a lot for the time you took in answering my question.
Xdrew: I’m not sure I’m understanding your idea of Value in your case.
Jamie: im sure we could somehow manage to get some time off for Reno, although the less proficient at it you are the longer you will need and the more expensive it is going to be… I like the idea of local trades outsourced by RE agents. They seem to be the cheapest.
RobbieP: great and encouraging scenario there although I’m a bit confused… Are you talking about getting 500$ positive cash-flow per month on properties between 150-200k? Where? How? How do you achieve this from the get go? Not even in the States I believe you could get that at the moment. I’d lOve to be able to do that but I really doubt there are such properties unless of course I buy them cash….elaborate if you can….cheers.
TerryW: to be honest with you I never thought about this method, sounds clever and creative although I might feel more comfortable undertaking this venture if I were more experienced in the process of purchasing P.I.
Definitely something to think about.Thanks guys, keep the creative juices flow…
Thanks AW, I was looking at Melton South last night and I ended up arguing with my partner about it….she reckons is too far out and is a dead end and according to her it would take ages for that area to pick up…mind you she is not interested in investing so I suppose I understand her negative attitude.
Putting a deposit for 4 units is a bit scary for a beginner investor like me but I do understand your point entirely.
You see whilst I have not purchased any property so far, I've read and studied the impossible about property but fear and procrastination has taken the better of me so far but I intend to beat it now.
CheersThat is a good point to rent it for a modest sum to my brother for cash. Not very happy to share with strangers though. My ultimate goal is to have passive income, any capital gain would be good only for the equity and or paying off other properties faster
Yes I’m quite familiar with Lomas I hv her software, read her book and saw her at a seminar, never been to one of her consultants though but I would be xtremely curious on how you went… Although I’m sure that property wise u are much more ahead than me.
Good luckNow that sounds like a good plan Sophie, you see my plan is to make enough money to go and retire in Asia or central America by age of forty with a passive income of around 2k aud. With high yeld bank deposit this is not possible especially with the fact that any crisis could drop interest rate for investment deposit. I am 33 next month so not much time left… I need to get cracking now given that a real estate cycle is around 7 years…..
Chhers Andreaps
do u know of any group in Melbourne that actually meets up face to face to discuss property matters?Great suggestion thank you Sophie! The only thing is I’m not sure how many properties’ rent could pay the mortgage by itself unless u put say a 50% deposit but in that case probablt all my savings would be gone and just for 1 property although I guess with tax at the end of the year could probably positively geared with some research and luck. I love frankston too I used to live there…
Well I just saved and saved and kept my money in high yielding bank accounts like bankwest, ing, etccc.
In terms of living arrangements I live and share rent with my brother.
You see buying a house or even a unit in Melbourne is not a cheap affair unless you are ready to move to the country and commute for hours every day. We are still looking at an average of 450k per median 3 bdr house within 25-30kms from cbd. And even paying a 20% deposit down still leaves a huge chunk left at least $ 2-2.5k mortgage per month and in the case of my own place I would not get and return on investment (rent money) nor tax benefits at the end of the year…
Thanks for your suggestion…Buying a cheap home? As in a unit or a house up in the country? What you mean reborrow to invest, you mean buy the house outright and borrow off the equity? By the way I do not own any dwelling…
CheersI would be more a passive investor as I am not into renavating plus I do not have time for it.
I would like to achieve a passive income…timeframe 5/8 years.
Thanks for your help
AndyI would be more a passive investor as I am not into renavating plus I do not have time for it.
I would like to achieve a passive income…timeframe 5/8 yearsCosta Rica, by costitutional law anyone can own anything there regardless which country you are from
I think it is worth a while especially with what's happening here in Australia. My understanding though is that you can't own a property for less than 85-90K AU, is that right?
Thanks for your advices. I will be there in few months and I will keep you posted
Great advices guys. As far as reading books, I suppose i have been doing to much reading and little action here. Done Steve's books, all the Lomas one, API been a member for the last 15 months, Mk Intyre and Kyiosaki, Anthony Robbins, Trump and other less famous ones.
Steve's recent newsletter put me off a bit, with all the interest rates-sell-everything-cash-up-for-the-time-being attitude cooled me down a bit. Also my working situation is a bit precarious at the moment. I work as a casual trainer and I usually net about 5k per month however now I have the next 3 months with no work due to school holidays. And I must admit at this very moment i am glad i don't have a mortgage or heavily negative geared. However i am going agaist my principles, I am just procrastinating…
About shares I often think about them. I have an idea how they works but have no knowledge of the markets and I wouldn't know where to start.
Once again thanks for your comments though
Andythank you guys for having taken the time to voice your advice… really appreciated.
Hi Guys,
Very interested in Tassie market and its CF+ property I ve hard Zeehan is a good area. What is your feeling about the place?
Any other interesting areas u aware of?
ThanksI fullout,
maybe you were reading my thread. I wrote one about the lack of CF+ properties around Victoria. I, myself went on a journey following Steve's steps in regional Victoria and I couldn't find much. Althoug I have found good returns up to 8% in a couple of cases. And probably is the best that you can find at this very stage. Following Steve's newsletter saying to hold off investment due to the US backlash I haven't ventured in any purchase ofering as yet but if nothing major happens (in terms of global economy – as predicted by Steve) I might put on offer very soon for one of those. Although I am still looking around, the only thing is that I have extended my research to other states.
Ciao
AndyJust a provocative thought.
If Jamie was out there to educate people on a noble cause he would have made his book thicker, denser with more nuts and bolts instead of just a tantalising tool to advertise his seminars.
Usually (my 2 cents opinion) seminars are great for motivation (I have done few) but when it comes to knowledge: sharing info with a likeminded (and unbiased/genuine without secondary gains) group like that on this website and reading a lot of books on the subject u interested in could do a lot more than spending thousands on seminars. This money could be much better spent on investment and guess what if you make a mistake you learned a great lesson – something seminars can't teach you.
By the way the most successful people are those that fail 6-7 times out of ten.
Andy
