Forum Replies Created
Thanks MrDarcy. It seems I came in all guns blazing. Care to explain Buffets thoughts on greed and fear?
EV
You know, it probably sounds stupid, and we all know that fear and greed don't get us anywhere when we speak about financial independence but one reason for selling is so I can diversify a little to reduce my risk. All my money is tied up in property… bar 10k. I feel that property prices in Australia are going down – in the long term. I would rather get the money I have earnt now considering my property hasn't increased in value for quite some time. If I could invest it in a better suburb, or even half in passive income then I would feel like I have made some money and been able to keep it. Perhaps I haven't thought the market through well enough.
I definately like the sound of the 1% properties, I want to buy closer to the city this time around, though. It's even harder to source them there.
Can I ask what state you reside in?
CheersHey D,
August isn't far away; it will be here before you know it.
I am toying with the idea of doing Rick Ottons course; buying houses without the banks. I come back to square one every time I start in a direction though – which is thinking I could do it myself but with a little more pain involved and more information sourcing. Still, I don't seem to get my AintoG when I think this way
…. I know I asked you before how you got started. I just got to pick something and go with it and take another risk (my $50k hasn't been refunded from my other deal yet, still liaising that one but I did feel good for taking the plunge when I did it).Cheers
Edit; must add that is WAS a calculated risk
Hey D
When does your PPOR settle? Are you so happy you don't have to move around anymore?
Hi all and thanks for your input, most appreciated.
I have my PPOR and 1IP. I am currently in the process of adding the finishing touches to PPOR (build 10years ago) as I am wanting to sell. I am also in the process of approaching my tenant to see if they want to rent to buy. Once I have successfully sold both properties I will have .5 million to play around with. I am hestitate to put my money into property for the long term again, at this point in time, but as I have an eye for detail and an interest for renovations I guess that might be something I can pursue further. I know what I DONT want to do; -ve gearing properties, developments (maybe in the future), and paying big dollars for courses! I really want to get more involved with other people that are "doing" it. I have tried for 12 months now and always come away disgruntled as I either stumble by the poeple that know less then me or people that are far more advanced and consequently I have nothing to offer.
My philosophies are that all deals need to be a win/win in order to be a success. Taking risks are essential, but they must be calculated. Family comes first – but try your darn hardest to get them on your team.
MrDarcy, I loved your "make as much as you can during the purchase".
Emptyvessel, I too have been looking at purchasing over in the US. I am a little more uncertain now, however. I think I would prefer to keep things local as I have better control, but who knows what will come of that decision as there is always something else around the corner. Lately I have been looking into Rick Otton's course. Most of the people I know who are very succesfull have been and done a course or had a mentor – so even though I hate to fork out "wasted" money I got to focus on the end result <sigh>.
Shape, looks as though you are doing well, good luck with IP4.
Jamie M
Will you be attending?
Kong
I looked for quite a while for accommodation. Unless you want to pay $150-200 plus per night it might be a good idea to look into it soon
Hi all
I have booked my flights, got my ticket and just oragnised accommodation. I will be there and can't wait!! It sounds like it will be great. I would like to meet a few people off this forum if at all possible
.Hi D
Unlike you I am looking to move out of PPOR and rent. I also want to add a few more dollars worth of value to my IP so it becomes positively geared, then I want to invest in the US (3 properties) and move to subdivisions (but only managing one, not paying for one) – my brother has the block.
As for losing weight, I have given up on that one
I am looking forward to getting more into Yoga and possibly getting fit – I can only dream
Thanks for the thread! You have a lot on your plate.
Thanks Fredo, I agree. This is a middle of the road priced home so it should suit it well as you say. Good luck with the sale, let us know how it goes
Hey Jamie
I will have to go and buy one now. This will be my first time
Congrats from me also!
Hey D
Thanks for your input. I have contacted a colour consultant and interior designer. It will cost $170 for 1.5hrs of her time. I have seen her work before and I think I have confidence she will help ease some of my uncertainity. Just need to know I am doing the right thing.
Did you compare the staging company prices to your own time and input buying all the materials (plus the cost of the items)? I wonder if it's that much different. I have some of my own furniture but I am not attached to any of it; so am able to replace it. I also have a house where I can store things that I don't want in this house while I am selling.
Funny you mentioned green in the living areas. I was contemplating using a soft green for the formal lounge, however that was just on my ideas list. Phew. I have now decided that nuetral colours will be used throughout, apart from one "feature wall" in the kitchen/dining area, which is going to be Capsicum red. A mirror on that wall will make the room appear larger. The kitchen is very warm as it is, so I am cautious of using red, however can tone it down with white, as I have Antique white on the walls. The kitchen has pelmets that I made with beige, dark red, browns and orange to match the tiles, the kitchen bench top has terracotta tones in it also. One realestate agent said it was lacking the "wow" factor, so hoping this will clear that up.
If I get a few lounges from Ikea I guess I could use the slipcovers to change the colour of them whenever its needed (talking out aloud here)
Any other ideas are most appreciated.
Cheers.Jamie, thanks for the encouragement. I think that selling my own home will be an enjoyable experience. I will have to read up on a few tricks of the trade perhaps, though.
RenoTeam, thanks for the blog. I hadn't considered glass as a tool for staging. Cheers
…. I know I asked you before how you got started. I just got to pick something and go with it and take another risk (my $50k hasn't been refunded from my other deal yet, still liaising that one but I did feel good for taking the plunge when I did it).
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