Originally posted by redwing:
i have a friend who owns 2 units in one complex, 4 in another and one in another

Now just imagine the value if your friend owned them all in the same block???!!! [juggle] Ahhhhh well…..Anyway back to reality…..[rolleyesanim]

Redwing,

There is no “one is better than the other” IMO, as both have merits, and…[Read more]

Hi Gats,

I can’t say for sure (one way or another) whether your friend will get back his deposit. According to the info in the links below, it doesn’t look promising, but then, who knows, with a good legal team anything is possible.

http://www.anz.com/australia/insurance/deposit/faqs.asp

http://www.cascadefinance.com.au/bonds.html

Plus I am…[Read more]

Hi Tass,

First piece of advice…..

DO THE #’s FIRST!!!! Either on your own, with a lending institute, mortgage broker; whatever….

BEFORE you do anything, think about the $$$ [book] Once you know how much you have and have not got to play with, you can then look at some options!!!

Good luck, and keep the questions rolling, there are many…[Read more]

Hey Aussie Kid,

Welcome to the forum, and [thumbsupanim]CONGRATULATIONS!!! [drummer]

I love hearing success stories especially from such young investors, and this place has some really inspirational RE motived people. [sunny]

Like you, emcdonald (who has posted above) is also about your age, and she too has done great things for one so…[Read more]

I agree guys, PI is definitely more “user” friendly but that is where it starts and ends!!!

IMO Somersoft is a much “friendlier” crowd all round, the chatroom is always occupied by very chatty/friendly types, and the forum posts are not only informative, but facts are better researched and generally far more authenticated!!!

This place leaves…[Read more]

Hi Pro,

Well the only place o/s that I would REALLY love to buy into, is the Cook Islands, either Rarotonga or Aitutaki, but alas, no can do; I’ve tried!!! The best solution is to run a business there, rent for minimum of 5 years, and then (maybe) they will reconsider and allow you to purchase!!!

(Sighhhhhhhhh….) Oh well, I will just have to…[Read more]

Hi Calvin,

Thanks for the 5c pieces sent via your PM!!! [laugh4][laugh4]

As I said, don’t worry too much, what you are experiencing is normal anxiety and is often associated with most things in life, especially major issues, ie. marriage, divorce, new job (not necessarily in that order)!!!

Most investors experience a level of it at some point…[Read more]

Hi Calvin,

Sounds like a “when you got what you want, you don’t want it anymore” and maybe it’s because you never REALLY wanted it in the first place!!!

Maybe it is the “thrill” of the chase; the “I got to make it mine”, that once it is, there is no challenge left!!!

Or maybe it’s just spring…..and your thoughts are slightly clouded. Why…[Read more]

Hi Westan,

I knew you were kidding; it’s all cool; have moved on [tongue]

Anyway, thanks for explaining the Cash on Cash thingy; you did it well BTW. Am I correct in thinking it equates to the “NET YIELD” as opposed to a GROSS one (where you do the calculation as per your example, hence not taking into account any deductions)???

Either way,…[Read more]

Hi Dangermouse,

As per my email; the meeting is organised by Somersoft. I know PI used to organise a Melbourne meeting; but I don’t know much about it; maybe someone here may do.

If you go to http://www.somersoft.com/forums/index.php? it will detail all (upcoming) meeting dates, and other useful info.

Sorry to be so brief….gotta run!!!

Cheers,

Jo

Hi Gatsby,

Sorry I can’t help too much ATM, I have been in and out for the past few days (and will be so, for the next week at least) hence I have not been able to gather much except for this little bit I found (on the run) this morning:

Domain Suburb Snapshot:…[Read more]

Quite right Pelican!!!

Honestly!!! (Sigh)

Who cares???!!! Dodgy or not; people will have their idols, regardless of what you or I say to rebuke their credibility. The way I see it; live and let live!!!

John Reed’s checklist is just another means of self-justification; and in short, just one man’s view. There will be those that agree with him,…[Read more]

Bennido,

Try and remember, there are SELLING agents and RENTAL property managers in RE; two different divisions.

In defence of Selling REAs….the one acting in the sale of the property is not necessarily going to be versed in the “rental potential” of the property, and hence will often give you an estimated figure, which of course may be way…[Read more]

Hi Dangermouse,

The Somersoft group of investors is having a meeting tomorrow actually, but it is in Footscray if you are interested. For more info:
http://www.somersoft.com/forums/calendar.php?do=getinfo&day=2004-8-26&e=270&c=1

As for buying +CF properties in Victoria with that kind of return, I have only two words for you….GOOD LUCK!!!…[Read more]

Hi there,

SIS,

No problem; thanks for your comments, it’s always good to have more than one opinion, and hear/read what other people are doing; so I appreciate your input. Sounds like you’re got your plan of attack down pat, and are moving forward….Keep it up; well done!!! [thumbsupanim]

Westan,

You said:
Actually if i owned some properties…[Read more]

Hey Westan,

I hope you don’t mind my asking this, but if your cashflow properties ARE working for you, why are you selling them??? [blink] Guess I’m thinking along the lines of that old adage “if it ain’t broke, don’t fix it”!!!!

Cheers,

Jo

Hi Emcdonald,

Get yourself the biggest, widest money box you can find….a 44 gallon drum (all dolled up) will do nicely [lmao] (just kidding) just any old BIG sealed container …and drop all your “gold” coins into it!!!!

I tried that once for fun, thinking it would be interesting to see how much I could come up with; I started it on New Year’s…[Read more]

Hi Niki,

I’d like to say welcome to the forum, and hopefully you will stay with us, as there is much you can learn from the vast array of investors here.

Positive geared doesn’t have to mean “cheap” buying. I have bought properties that are positive geared, simply because I paid cash for them. If you bought these properties and over-committed…[Read more]

<<I think sometimes we presume that poor yields, and NG’ing means that we will get growth>>

In my 23 years I have learnt to “presume” nothing; I have ALWAYS bought property with the “fundamentals” to which you refer Kay; being “Location and Quality” (although heavier on the former than the latter) for without them, regardless of whether the…[Read more]

Hi Meggsy,

Welcome to the forum!!!

Here’s the thing….you need to be alert, regardless of whether it is to go to work, or to make money. Sleeping is enjoyable, but it ain’t going to get you far.

Try to tackle one thing at a time, like remedying your sleeping habits, resetting your body clock perhaps to allow you more time to do what needs to…[Read more]