Holy Cow Rubbachook! I nearly had a heart attack when I saw the name!

quote:
Hi people,
I guess many people just “lurk” and try to learn. I find ppl here very friendly and helpful. I am used to seeing really catty behaviour on another chat forum (a well known auction trading site).
But the people here are very different, they are goal oriented…

[Read more]

Hi Fabian,

I know what you mean about the negativity of Neil Jenman and yeah it does come out a lot in the book too. I would agree he’s a bit old fashioned too. I don’t agree with all he says but he has a lot of facts in his book not just opinions and I don’t think I could question his ethics. There is still heaps of gems to be found in it so go…[Read more]

Hi Sue,

I believe it’s true and the reason Neil tells people about it is because of the dirty tricks some real estate agents and autioneers play to pressure both the buyers and sellers into something they regret later. If you haven’t read “Don’t Sign Anything” by Neil Jenman I recommend it. It is full of a lot of tips that real estate agents…[Read more]

Hi kelvinh,

I have told everyone I have emailed the spreadsheet to that I can’t claim the credit for it. Sure has saved me a lot of work and helped cull the crap from the possibilities.

Thanks again

regards
Karan.

Yeah I agree with you Kay. I suspect when I sit down with them one on one and tell them I’m only interested in cash flow +ve or neutral they will lose interest in me quick.

I was wondering tho’. I know I’m going to be over simplifying here and I’m not taking into to account all the factors but doesn’t the cycle go a bit like this:

1) Rent…[Read more]

Hi all.

As you said Kay, no harm in attending when there free. Though the info presented was only the basics and they do seem to be focused on -ve geared properties and capital growth, there were a few things I learnt and they had a few “interesting” points of view. Not saying I agree with them but others might find them interesting.

They…[Read more]

Hi Jane. It depends on the town. While the figures look like they add up okay what do you know about the town. Is its population growing, declining, stable? What are the major employers there and are any of them expanding or closing. What plans do the council have for development in the future. Have you visited the town? Are all the shops in…[Read more]

Quote:
Hi,
We have found a similar deal. 4 two bedroom units rented at $800 per week, all tennanted, for sale for $560K. Is this a good deal or not? We put in an offer of $420K knowing it would be turned down, but a starting point for negotiating.
Fibe.

Quote:

Hi Fibe. If you could get it for around $500k it sounds like it could be a good…[Read more]

Hi again redwing. The loan repayments on $270000 is $15,900/yr or $305pw. So there goes any profit. Add that to those management costs and it becomes a -ve geared property. Here’s the figures:

Purchase price 270000

Initial cash spent to aquire prop
Deposit 0
Closing costs 13500

loan
Principal 256500
Type Interest only
Term…[Read more]

Hi Redwing.

Was just running thru your figures. It’s not a bad -ve geared property (almost neutral geared too) but being a holiday unit I believe it carries with it a higher risk. I have heard that holiday units are harder to sell than other types of property and of course you have the risk of it being affected by an off season and the…[Read more]

Hi Heuy,

Thanks for your comments.

May I ask why you have only bought 1 thru them and was it a cashflow +ve property?

Regards,
Karan.

Ivana I can give you some answers though most questions have more than one answer (life’s like that). I have bumbled my way thru a couple of purchases and I’m sure some of the more experience investors on this forum will add to what ever I write.

Q When do you go for a pre-approved loan?
A Before you even start looking at properties. See a…[Read more]

Let’s face it guys. It’s not the wrapping per se that is bad. Its when someone does it at a highly exaggerated profit margin such as adding a huge margin on the value of the home and/or charging an outrageous interest rate.

Consumer education (perhaps protection?) is needed to help people understand what deals NOT to sign up for.

Regards,
Karan.

Oh wonderful!

I wonder what I will do with the 1 day a month I will have free after doing all that! []

Thanks again s.i.s.

I will email the address you have provided. I am based in Canberra so could travel up if need be. I will talk with Otto first if poss.

Regards,
Karan.

Thanks s.i.s. I’d appreciate that.

I am conscious of not wanting to bug him for advice if he isn’t wanting to respond.

Regards,

Karan.

Thanks Peter. I was thinking more towards getting inside information on what areas to invesigate in the first place but of course that is only part of the research needed hey.

Ian, another web site is http://www.propertyvalue.com.au.

Thanks Herve for your web sites. I hadn’t found them.

Regards,
Karan.

Hi Risky,

OK so you only paid $184000 (169k + 15k) but if you do sell it for $230,000 don’t think you are making a $46000 profit. After you deduct stuff such as the fee’s you paid to buy it, the fee’s you will pay to sell it and the capital gains tax you will have to pay, you might find you haven’t made much money at all.

I’m not saying don’t…[Read more]

quote:

I do however sense that certain people are now going out of their way to attack others points of views…

You can say that again.

Haven’t been with the forum long, read heaps but contributed very little (can’t contribute knowledge you don’t have [])

I have been stunned at some of the things I have read here in the form of attacks…[Read more]

Showing your age there Steve. One of my favourite cartoons tho.

Thanks for your input – after all I would imagine that you are the reason most of us are here in that your book brought us to this forum.

Regards,
Namasté