Forum Replies Created
Hi THere, you may find this book interesting “How investing in commerical property really works”.
Martin Roth and Chris Lang and they from OZHI there, sounds very interesting, and good on you for giving it a go.
I am not keen on partnerships, it would not be the way I would go.
The bottom line is make sure you purchase quality real estate. In other words properties you can sell if you need to and properties that will grow.
Good luckHI there, just want to comment on Perth Properties.
I believe beach side locations still performing well.
Viewed a property 1 year ago – sold for $185,000 (200 mtre from Beach) sold a couple of weeks ago for $285,000 in 4 days.
Amazing……
Units – in Wembley – poor capital growth. Dubious clients??
Derek, Mt Lawley great area, and would recommend to buy in this area, as always seems to do well regardless. I should know I live in the area.Just want to comment on Perth properties.
Still no holding back beach side locations.
I looked at a property last year sold for $185,000 and placed on market again for $285,000 sold in 4 days about 200 mtres from beach.
AMAAAAAAAAzing…..Hi,
I guess at the end of the day you need to look at the long term.Commerical is a very different market from resi prop. Have you researched this area? What if you close business, can you rent again, can you sell? some commerical properties can stay on market for years.
All these variables need to be considered before purchasing regardless of the costs.
Also you need to seek advice from an accountant in regards how to structure lease etc. if you do decide to go ahead.
Trying to cut costs can cost you at the end BIG TIME..
Good luckI think it is great to hear about all these +ve properties, beach front locations etc. bla bla bla
But are you brave enough to provide further details…. Lets get real here, lip service is cheap…..
Hi Jo
snap it up …. $10,000 so what, dont be short sighted, think of the big picture.
In the scheme of things, $10,000 in terms of repayment is maybe an extra $50.00 pm.
Redevelopment potential and resale would be what I would be focussing on.
Go for it.Hi there, have been trying to reply to your post for some time now, computer keeps craaaaaaaashing….. need a sledge hammer ….
Anyway, last time for what its worth.
Agree with most:
You need to amalgamate loans and seek professional help. If you can access free Gvt service – even better.What about preparing a personal budget, review this, are there any areas where you can save money?
Perhaps look at a second job as an interim measure only until you get back on track. I know this is drastic but at least you may get some sleep.
Is there a possibility of additional income by renting out a room. Dont know your situation?
Also I would not look at buying any IPs at moment until you are in a reasonable financial position.
IPs are always out there…Good luck
Hi there,
I dont see any advantage to selling your villa in order to buy a positive prop.Have you researched what is available in terms of +ve geared properties, I think you may be disappointed.
We sold a great IP property about 8 years ago …. biggest mistake, havn’t sold any since.
Good luck
Hi Geo,
Ah Well…. you live and learn, I guess you will go it alone from now on.However, I do agree with most comments, seek professional help, and who knows you may salvage the friendship down the track.
Good luck
Hi there,
as recommended by others:consolidate loans, this could save alot of month. I would check out the Govt body who assists in this area, at least it wont cost you…. I think?
review your personal budget, can you save there.
Ugly as it may be, what about a second job until you are out of the s#*&.
Other options, not sure of your situation, can you rent out a room to assist?
I would not be looking at buying another IP not until your financial situation has improved. If dont sleep now imagine what will happen if you get into further debt.
Dont know your age but IPs are always out there.
Good luck…..
Terryw, I understand the concept. This is not something new, many out there promoting this.
Just prefer eventually to own property outright.
Disadvantage with this though is having to sell and associated costs involved in this process.
I guess different strokes for different folks.
CheersHi there,
I’ll try again!!!! Having problems with my computer, what’s new.Firstly, definately look at consolidating your loans, this may save you big dollars.
What about a second job, only a short term measure until you are out of the woods. I know it aint a nice thought, but at least you may sleep at night.
Look at other possibilities, can you rent out a room for extra income. If possible that is??
Also seek professional help financially, if a Govt body can help and it is for free, try this in the first instance.
Alternatively, many morgage brokers could assist with the consolidating process.What about preparing a personal budget, you should be able to estabish where the money is going and if possible reduce expenditure. Boring I know, but it all helps.
Good luck….[blink]
Hi There,
Definately seek some professional advice regarding consolidating your loans, this could save you a fortune. Or alternately as was suggested a Govt body to assist, this probably wont cost you.Also, what about a second job on a temporary basis (night/weekends), at least until you are back on track.
Also, look at other options to assist ie. minimising your rent – either go back home, or depending on your situation get someone in to assist with the rent.
Good luck
PS
You could also write up a personal budget, though painful this may help you eliminate all the unnecessary expenses or at least cut back.Hi there, look on the bright side at least you do now have a job.
Can you bring in more money by perhaps renting out a room to a student for additional income.Definately recommend consolidating loans, at least try to minimise debt.
I believe there is a Govt Department that can assist with consolidating your loans and help you get on track. Perhaps someone on this forum may know who exactly, I cant recall.
[biggrin]
Good luckThanks George…..
Hi there, we have not set up trusts for any of our IPs, we also have a company/business which I guess puts us in a higher risk category.
I am surprised that our accountant has never advised us about trusts etc. I have only now started to look at this since joining this forum. I doubt however that I would transfer existing properties in trusts. Sounds way too costly …. and a hell of a headache
Hi there,
Network Marketing, beware….. a good way to annoy and lose friends.
Money, yeah lots, unfortunately you dont make it.I agree with most previous comments, read lots of books. Also do you know anyone who has been quite successful for whatever ….. ask them questions.
Never give up… my partner lost his job 5 years and could not find a job so started a manufacturing business and have never looked back.
Good luck
people? if so, ask questions, never stop learning.
DNetwork Marketing, BEWARE, good way to annoy and lose friends.
All that Money but unfortunately YOU DONT MAKE IT!!!!!
I would agree with most regarding reading as much as possible. Also do you know any relatively successful ont give up…. there are always ways of getting what you want. My partner lost his job 5 years ago, he then started his own manufacturing business. Have never looked back
Good luck
Network Marketing, BEWARE, good way to annoy and lose friends.
All that Money but unfortunately YOU DONT MAKE IT!!!!!
I would agree with most regarding reading as much as possible. Also do you know any relatively successful people? if so, ask questions, never stop learning.
Dont give up…. there are always ways of getting what you want. My partner lost his job 5 years ago, he then started his own manufacturing business. Have never looked back
Good luck
