Hi Josh: 130pw/$95k – 7.1% gross. Higher than average for Vic (even Traralgon) but not outstanding.

I’d personally give it a miss unless it had growth or improvement potential.

Re the website, it’s very patchy – ie some parts of WA where I know there are dozens of properties for sale have no listings. Got a laugh when looking at the Latrobe…[Read more]

Enjolady wrote:

quote:As for a seminar, I am happy to come over and blab to you guys for a day if you can organise 150 others at $999 per person

Too cheap Enjo! Make it $1998 and we’ll go halves! []

Now everyone must understand that this will be a once-only appearance of both of us on the one stage, so book now. [] Once we retire on the…[Read more]

Wow, that’s a deep question for TT ; )

quote:My grandfather used to say no-one ever went broke owning too little, and I’ve taken that advice.

But did he really say that? I personally would rather owe little than own little!

Indeed with P&I you eventually will own much, whereas you won’t with interest only, unless you make other arrangements…[Read more]

Leaving aside the example in Steve’s book about the ‘herbal cigarette’ crochet lady who loved traffic noise, the place on a busy road might still be OK as a rental proposition.

It could be hard to sell (buyers wanting it as their PPOR would want a quieter street), but the lower price would help with cashflow.

Particularly if the property is…[Read more]

Can’t say much about about wrapping, but flipping has a long and often dishonourable history.

Historically it was done when the mother was unmarried or the child was orphaned. Other examples of it done compulsorarily was when parents were deemed unfit to bring up the child. Where the child has been a serial offender, custody over him/her may be…[Read more]

774 ABC Radio here in Melb has the following:

10:10 – 11pm Tuesdays: Tony Delroy’s money segment. Interview followed by talkback. Sometimes discusses IPs.

Saturday mornings: (8-10am approx) Investing segment. Also sometimes includes property talk. Before gardening segment.

Peter

I forgot to mention that though the above approach guarantees time to get SOME property, unless you’re lucky you probably won’t get the best deals around.

For instance recently I saw a place in a distant interstate country town going for $40k. The large block had two dwellings and a rental income of $150pw.

But with a job you can’t just get up…[Read more]

For PI, the ideal job is one where you can take
2-4 weeks off several times during the year.

I got close to this situation when I worked 4 years straight and took no annual leave. With heaps of leave, it was suggested I take some. This I did 12 months ago when I took 4 weeks off.

My leave balance was still huge so subsequent 3 week holidays…[Read more]

Hi Peter – apologies in advance, but I’m about to provide a fairly robust response to your posting. Please accept this in the constructive spirit in which it’s given!

quote:I live in Bunbury WA

Nice place! But there’s no need to invest there if you can’t get the yields you want. But there WILL be higher yields within 60-800km of…[Read more]

Hi Mini – I too enjoy going to different cities.

But if you stay a while all those hotels and meals really sap into the money tree.

Cheap backpackers near a supermarket, only one (substantial) meal out a day and BYO crockery/cultery for the other two worked for me.

And different libraries and bookshops to browse the PI books!

Peter

Excellent points Pin!

For my last purchase, I probably did as much talking as you, but did so on the phone before I left home (which explains my latest $300 phone bill!).

In the week or two before departure, I called the following:

1. Local council building dept to ask about natural hazards in area (flooding, wind, earthquakes), preferred…[Read more]

Isn’t there a private prison out there? Or am I confusing it with another NSW town?

Peter

Hi Middler – this topic was raised recently – look up the Collie thread in the archives.

But for Narrogin & Pingelly, consider (amongst other things):

Population Growth
Vacancy Rate

Then look at rental yields available and see if they’re high enough to overcome the negatives (everyone will have different approaches here).

Peter

Kym – Steven Covey says ‘begin with the end in mind’.

I must admit that I have not been very good at this. I have tended to draft a vision a bit after my first actions. I have a rough idea of what I want to do, but often this is not fully articulated until later. Also until one starts and realise what one can do, you might dismiss a particular…[Read more]

Hi Kym – I agree it’s opportunity and freedom, which basically boils down to ‘time and money’.

But there needs to be some other element so that you don’t fritter away time as is so easy to do. If you do, you might as well be working and spending!

Every 6 months I produce a statement on the progress of my investments. 2 years ago the aim at the…[Read more]

Hi Kewldude: the quote about knowledge and wisdom being in simplifying facts reminded me of something in Robert Kiyosaki’s books (Rich Kid Smart Kid?) which is related. RK defined intellect (or was it knowledge) as being able to make finer and finer distinctions (think of Charles Darwin, evolution, taxonomy and periodic tables as an example).

So…[Read more]

Well done Scotty! You did well (better than me when I went over there 6 mths ago). Re the 3br units, were they villas in a group of 6 or 8? If you don’t mind me asking, how much was the original asking price, and could they have been bought singly, or did the seller want to sell all six to one group.

In contrast, some places have been on the…[Read more]

Hi Redwing – Collie has several things against it:

1. Population dropping/future projections not good
2. Dependent on coal
3. Freezing at night!

But these things also apply to the Latrobe Valley and that hasn’t stopped the property boom there!

But for its size, Collie would be the cheapest town in WA, so might be worth more work. Proximity to…[Read more]

Hi Peter – I’ve noticed that you posed very similar questions not too long ago. Most of us with thoughs on the topic have probably already had our say and don’t have a lot to add.

If you haven’t already done so, I’d follow up the leads given at https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=4039

Part of the fun of all this is doing…[Read more]

Hi Redwing – no spreadsheet but http://www.regional.wa.gov.au/snapshot/index.asp

should be of interest!

Peter