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  • Profile photo of richmondrichmond
    Participant
    @richmond
    Join Date: 2003
    Post Count: 831
    September 7, 2003 - 4:32 am

    westan,

    spot on
    r

    Profile photo of richmondrichmond
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    @richmond
    Join Date: 2003
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    September 7, 2003 - 4:10 am

    gotta get those ratings up rod..

    r [:D]

    Profile photo of richmondrichmond
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    @richmond
    Join Date: 2003
    Post Count: 831
    September 7, 2003 - 4:10 am

    Hi Rod

    I think TT is following through the MAP program… so there’s regular updates on how the participants are going… At least, I think that is what’s happening…

    cheers
    r

    Profile photo of richmondrichmond
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    @richmond
    Join Date: 2003
    Post Count: 831
    September 6, 2003 - 11:51 am

    Hi insider…

    You’ve got me intrigued now… that doesn’t mean I’ll go and throw in my job though!!!

    By the way I know what you mean about not working full time in terms of security… This new job I start next weekend will be my first full time job in 6 or so years, and I’ve still bought 6.5 props in the last few…

    I took the job because soon-to-be Mrs Richmond and I will probably want to produce little Richmonds in the next 12 or 18 months, it’s more for their security than my own…

    still intrigued by your story though… and would love you to share a bit more… [:)]

    cheers
    r

    Profile photo of richmondrichmond
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    @richmond
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    September 6, 2003 - 8:16 am

    Hello again…

    It’s my last weekend in sport this weekend, then over to the news production desk (did highlights package on Adel v West Coast game tonight)…

    I’d love to meet up at some stage… I’ve been to Koo Wee Rup before, when I was a producer with the Footy Show, Billy and I went down for a night, and from memory the footy club won a car, and Billy and I nursed hefty headaches the next morning…

    Cheers
    r

    Profile photo of richmondrichmond
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    @richmond
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    September 6, 2003 - 7:51 am

    Howdy Del,

    It certainly sounds like the chance of a life time…

    Without wanting to know ANY specifics, are you confident you’ll get to where you want to be in 12 months?

    Plus, will we see you bob up on Today Tonight on Monday night?

    Cheers
    r [:)]

    Profile photo of richmondrichmond
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    @richmond
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    September 6, 2003 - 5:35 am

    Hi insider,

    As I said

    It would take an extremely remarkable unemployed person with no savings and no equity to become a property millionaire I would have thought…

    If you are remarkable, good on you… I’d say you’d be the exception rather than the norm.

    Did you have equity in anything before you started?

    cHeers
    r

    Profile photo of richmondrichmond
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    @richmond
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    September 6, 2003 - 4:36 am

    G’day

    If you do a search on Rockhampton you’ll find a lot of previous discussion. There’s still some good deals up there, although not many that meet the 11 sec solution… most have gone…

    Cheers
    r

    Profile photo of richmondrichmond
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    @richmond
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    September 6, 2003 - 3:45 am

    G’day Des and Sue,

    Look at the reasons why you even want to buy an IP… what is the big picture aim?

    Work that out, then work out if it’s worth your while to give it everything you’ve got, or if you’re just happy to sit back and take a punt.

    Giving it everything you’ve got can be translated into taking a day or a week off work, and going up there to the places you mentioned. It’s not that far from Brissy to Rocky/Mackay etc… I live in Melbourne and took a week off work (I was a freelance reporter at the time, so that meant saying goodbye to any money coming in for the week) to go and do some investigating/buying in Qld. If you are a fair dinkum you will do it…

    good luck
    r

    Profile photo of richmondrichmond
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    @richmond
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    September 6, 2003 - 3:29 am

    Hi Mini,

    It would take an extremely remarkable unemployed person with no savings and no equity to become a property millionaire I would have thought…

    There does seem to be a mindset with some of the posts (certainly not yours, because I know what you’re trying to achieve) that their road to riches is going to happen overnight and if they don’t buy NOW they’re going to be consigned to a life of wage slavery. To those people, keep dreaming. To the others who have been clear headed, formulated a plan and are just knocking off their goals one by one, good on you, and I hope everything good comes to you.

    If I was an uemployed person, the thing I would be thinking of far and away before pondering IPs, would be getting a full time job. Then I would look at how much I could save so I had a nice deposit for my first IP. From there I would just take my steps one at a time, not rushing them.

    I was reading about a lady on the somersoft boards who has bought 21 props in 5 years on the back of some pretty rapid capital growth and good property selection… to me that’s pretty quick, and she could quit work tomorrow if she wanted to… but 5 years is too long to wait for some people… at least, that’s the impression I’m getting… I’ve got a 10 year plan, and I’ll be sticking to it!

    Cheers
    r

    Profile photo of richmondrichmond
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    @richmond
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    September 6, 2003 - 3:19 am

    Hi rangersixth,

    I wouldn’t try and second guess interest rates or the market, in terms of if, buts or maybes. I would do my homework in regards to knowing your own sleep at night factor, re: what you can afford, how much level of risk you can live with, what you want out of it… Do your own research and don’t take anything anyone else says for granted without checking it thoroughly yourself.

    If you find a good deal and the numbers work, go for it. I do not envisage prices plummeting across the board when this bubble “bursts”, they’ll go down in some areas more than others, while others still will keep appreciating, and yes, there will be bargains around, just like there is at the moment. Yes, the property market is cyclical, but it’s not like the share market where you can potentially lose everything overnight. There are dozens of markets within the property market, so pick a couple, and scope them out, then make your move.

    Take your time, go at your own pace, and don’t be too put off by what some of the doomsayers in the media and in forums like this have to say.

    Good luck,

    r

    Profile photo of richmondrichmond
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    @richmond
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    September 3, 2003 - 10:39 pm

    Howdy,

    I’m 29, charmingly articulate, dashingly handsome (think a combination of Brad Pitt and Colin Farrell) and some say my physique has parallels with a certain Mr Schwarzenegger… I’m also a pathological liar.

    I bought first PPOR at 25, first IP at 26, now have 5 and a half IPs plus my PPOR… could keep buying now, but now that I have a little bit of security in the form of a full time job (for the first time in 6 or so years) will put the foot down early next year once my wedding is out of the way… whatever happened to the bride’s dad coughing up some folding stuff??? However, if a great deal comes up, who knows??????

    Cheers
    r

    Profile photo of richmondrichmond
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    September 3, 2003 - 8:30 am

    westan,

    are you implying the two shows COPY each other sometimes? goodness gracious me…

    yes they are both shockers sometimes… but for some reason the ratings are ok for both, so go figure! [:)]

    Cheers
    r

    Profile photo of richmondrichmond
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    @richmond
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    September 3, 2003 - 8:01 am

    Hi,

    I’m probably biased because I work at 9, but (and I know Steve appeared on it) I can’t stand Today Tonight… stories on killer corn flakes and what detergents will get my clothes whitest… miracle weight loss etc etc… this is not current affairs. I’m not saying it needs to be like the ABC or SBS, but most of it is garbage, and when they do stories on PI it’s only ever possible to skim over things… At least ACA has tried to change its ways a bit lately since Ray has been back, but there’s still much work to do there as well…

    my two cents
    r

    Profile photo of richmondrichmond
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    @richmond
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    September 2, 2003 - 10:50 am

    Hi Mel…

    I agree it’s not all about money… I think it’s possible to be careful with the folding stuff, while not being too much of a tightwad. I did a bit of o/s travelling myself, and I wouldn’t trade any of it for anything. There has to be some balance… denying yourself too much causes needless stress I reckon, but it’s different strokes for different folks…

    westan, I don’t think ed will be looking over his shoulder too much at me!

    cheers
    r

    Profile photo of richmondrichmond
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    @richmond
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    September 2, 2003 - 4:09 am

    Hi aussie rogue,

    9 is not paying me anywhere near what a lot of people might think… preconceptions are a funny thing!!

    I know 100k packages are not unusual, but to me, 100k is still a pretty handy amount to be earning… average family earning 70k sounds about right from stats I’ve read.

    I think any amount around and above 75k per year (individually) is not bad either.

    Cheers
    r

    Profile photo of richmondrichmond
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    @richmond
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    August 31, 2003 - 11:22 am

    Howdy Clownsta,

    As a lady named Hanson once said, “please explain”… need more details, location (city at least), price, likely rent, “rental guarantees” etc etc

    Cheers
    r

    Profile photo of richmondrichmond
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    August 31, 2003 - 2:23 am

    Being a Melburnian, I think the main issue is that the rental demand is not there… there’s a lot of apartments sitting around vacant. I have a mate at work who is looking for an apartment to live right now, and he is amazed at how many places are available for lease.

    cheers
    r

    Profile photo of richmondrichmond
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    @richmond
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    August 31, 2003 - 1:44 am

    That’s a yield of 7.97% (if bought at 120k)… not bad I would have thought, but what about extra costs like body corp etc, is there any of those? they eat into your yield pretty quick.

    cheers
    r

    Profile photo of richmondrichmond
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    August 31, 2003 - 12:32 am

    you factor in things like solicitors fees, stamp duty etc when you’re working out your cash on cash return… if you do a search for “cash on cash” or something like that you’ll find posts where greater minds than mine (like Michael and Kaye) have contributed…

    also, it might help to give us the purchase price, along with the likely rent, so we can flesh it out a bit more …
    cheers
    r

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