To quote ‘The Millionaire Mind’, ‘Me Me Me is Boring Boring Boring!’

Peter

For me investing is something only talked about on online forums, to a few friends and at the odd investment group.

But it’s becoming more pervasive with numerous flyers in the letterbox (since I moved I haven’t put up a ‘no junk mail’ sign). And as I was taking out the rubbish tonight who called out but a door to door salesman from the National…[Read more]

Being fairly conservative, my instinct would be to pay off debt first. That would look good to the banks and you could borrow more for the IPs.

I could see how some more agressive types might go for the IPs first. But given your cashflow situation it would have to be cf+ property, with you only paying the minimum amount on your loan and paying…[Read more]

Re ‘Gap analysis’

Caloc thanks for the insight. That must be why (in the excerpt played on 4 corners) they demean where you are now and then try to get high expectations of future wealth, freedom, etc.

I suppose that’s why it doesn’t wash with me is that my gap is fairly small. My expectations are not particularly extravagent and (mainly due to…[Read more]

Probably the most asked question on this group!

Yes you’re right that education is important. But instead of spending $16 000 in a single seminar, how about this alternative investment education budget?

$200: Pile of books on property investing and related topics
$100: membership of an investment group near you (eg Investornet in Melbourne)
$0:…[Read more]

Iceman – can you still get cf+ properties in Perth?

Peter

That should of course read ‘Don’t go shopping on an *empty* stomach’!

Don’t go shopping on a full stomach.

More ideas at http://www.alphalink.com.au/~parkerp/essay22.htm

Peter

An interesting piece Brent. But it poses more questions than it answers, eg:

1. Why compare debt to income? At first sight a figure of 110% sounds alarming, especially when compared to 54% previously. But isn’t comparing debt with income comparing apples with oranges?

2. Some more figures would be helpful. The flip side of debt is equity.…[Read more]

Rich: well you are industrious. I agree re properties on the web. Particularly for the smaller towns (<30 000 pop). The bigger town REA seem to list their properties more often, but often they are out of date.

AD: I could have looked in more places, but my criteria was fairly particular, eg within 10 min walk from CBD and uni, built since 1985,…[Read more]

Hi Richmond – a great story and I like your approach.

Recently I did a very similar interstate trip and found my allocated 7 days was only just enough. And that was for only for one property (tenanted with similar price/rents as yours).

A question: When you say you ‘looked’ at places, does that mean that (a) you considered them off the…[Read more]

I don’t wish to make light of your predicament, but here’s hoping for a brighter future for you and the property!

I can’t claim to have done exhaustive research, but have wondered about this question myself.

The main issue for me as an investor is whether environmental issues threaten the long-term sustainability of an area’s major industry. If it does, then there could be population/vacancy issues and the area may not be good to invest in.

I’ve wondered…[Read more]

Hi Steve: The figures for the Mackay property are very similar to my IP in WA. They could have been better (10%, not 9%), but the property had a good long-term tenant and was in an excellent inner-town location, so I bought.

What I found most intriguing was the wording of the ad that was particularly pitched at the investor (giving rents and…[Read more]

R&J: Studies of happiness seem to show it is independent of wealth or material affluence. But it may be related to the control you feel you have over your life. Many people point out though that it’s better to be rich and sad than poor and sad!

But if you can use your wealth generation to increase the control you have over your life, and…[Read more]

I suppose we shouldn’t knock poor Harry too much!

He’s probably a migrant, determined to succeed, but poor in written English. He knows some concepts (though apparently not positive gearing), and a few words, but can’t put them together in a form that makes sense.

But he should have been aware of his weakness and hired someone literate in both…[Read more]

Most places more than 2hrs from a capital city and not near the coast should have places that meet your price requirement.

The yields may be cashflow positive, but whether they are enough to offset likely slower cap gain is a matter for you. For me 6-7% isn’t enough.

However if they’re near the 10% mark, they’ll be enough to rapidly (10yrs) pay…[Read more]

What a hoot! I haven’t seen that many RE/investment satire sites, but this (apparently real) one will do for now.

Clicking on ‘before you start’ revealed the following:

1. ‘Getting into Investment & Property requires the assistance of experienced professionals’

I’d rather trust my own judgement (informed by my own research, reading and…[Read more]

At this point I should plug my own Melbourne transport site, Meltrip. I set it up some time ago when the official Victrip site was no good at all!

Meltrip covers all of Melbourne. Of most interest to investors is the suburb index.

The URL is http://www.meltrip.cjb.net

Just go to the suburb you’re interested in and look up all the trains, trams…[Read more]

To answer my own question, yes there will be a new station between Warwick and Edgewater.

All you need to know is at http://www.newmetrorail.wa.gov.au/

Peter