Forum Replies Created
Naughty Johnny…
Firstly, when are you going to say sorry…
Secondly, where are the WMD’s in Iraq? I reckon you and Mr Blair and George Dubya have had a few chats about them over a couple of frothies…
Thirdly, I’m pretty much taking the strategy of IO on my 6 IPs, while getting my PPOR paid off as quick as I can… it’s got a line of credit as well, which I use for deposits and costs, so the interest on it is deductible (at least that’s what my accountant said)
Cheers
rG’day Di,
I think in any strata of society you risk getting bad tenants.
I know of some friends in retail who run different accounts, and funnily enough, they reckon a lot of the time, the people from the lower socio economic group pay on time more so than their well heeled cousins.
Individuals all have their own stories to tell, maybe they’re in the process of getting a divorce, maybe they like their beers, smokes and pokies more than the commitment of buying a house (it’s a free society)… maybe they can’t get a regular job (often through no real fault of their own)… maybe they don’t see themselves living in a particular area for more than a year or two so they’re happier renting… perhaps they’re scared of committing to a big loan if their job isn’t secure… maybe they are a one income family where the budget is stretched to the limit just covering day to day living expenses for kids etc etc… all I’m saying is that home ownership isn’t something that is neccessarily achievable or appealing to everyone, but the thing that EVERYONE has in common is the need to have a roof over their heads, that’s good for us… but the fact that someone can’t afford to, or doesn’t want to, buy a home, doesn’t make them indecent… I’ve found along the journey that a lot of people who perhaps don’t have it as good as some others actually have a better perspective on life and appreciation for the little they have than some others who earn good money and own (or are paying off) all the latest “toys”…
Like I said at the top, there’s good and bad in every bit of society, race, town etc etc…
have a good one!
ra bump is a post that “bumps” a topic back to the top where it might receive fresh attention
cheers
ranother incisive contribution bruce, thanks, I got a lot out of that. FWIW I can’t wait to get my copy in the mail.
rhi veewee,
spend some time doing some research on real estate websites and you’ll find them, however they take some work..
cheers
ris it in oz or nz?
hi daretotry… whatever you do, don’t EVER believe MEDIA HYPE and don’t rush into anything through fear of missing the boat!!! Read, learn, research, make up your mind once you’re comfortable with it. I’m tipping there are plenty of other investors who know about the area you have found, but don’t worry… there’s ALWAYS other opportunities. By the way, don’t be scared to ask about people’s opinions on different areas… sometimes it’s better to put up a question and get feedback, than think you’ve struck a potential gold mine… others have different views to me on that, and that’s fair enough. There’s also a good discussion on somersoft.com.au with a “where to buy” sub-section… you can type in the name of your area and do some extra research on what people’s thoughts might be.
also, don’t apologise for “babbling”… if no-one babbled, there might not be a forum… hehehe
have a good one.
rWow Christian, the numbers sound good… good on you… is it residential or commercial?
If I were you I’d get on the “dog and bone” as soon as possible and have a good long talk to the agent. Writing letters is good, but personal contact is even better (at least that’s in my limited experience!!)
cheers
rAs that rabid Lions supporter AD would say, if the numbers and due diligence stack up, go for it. I bought 4 recently in the one town and wasn’t worried at all.
Cheers
rr2d2
they are both
rg’day young gun,
I knew what angle you were coming from… I think most people would like to be free from the chains of 9-5 work… I freelance, so I haven’t had a regular 9-5 job for about 7 years and it’s marvellous, I’ve got 6 IPs and a great PPOR however I think a full time job would be good for a while because me and my fiancee are going to start having kids in about 18 months or so, and having a degree of certainty about my income will help my IP goals… anyway, I digress…
I’m 29… like a lot of people I wish I had better investing knowledge now than I did when I was 21 because I would certainly not need to be working now however there’s no point having regrets because I had a lot of fun and did a bit of travelling overseas which I wouldn’t trade for anything… I know that IP can become an obsession, but as I’ve said elsewhere be patient, and remember the old saying “work to live, not live to work”… don’t forget to live and enjoy life as well mate… my dad died when he was 26 and in the prime of his life, so you never know what’s around the corner (sorry to be morbid)
have a good one
rWell, what’s the alternative… buying lotto tickets every week? Property’s great cos of the leveraging… and that 30-50 per week SHOULD increase over the long term of your buy and hold strategy.
Cheers
rhowdy matty.
yes it’s overheated, but they are around, and not neccesarily on the net… hit the phones, go for a drive, travel… I’m in the process of settling on 4, and am spewing because there’s a number of other deals I’ve come across that I would love to go through with. I’m a bit conservative though, I want them to settle and get tenants before having a dip again. It’s just a matter of being patient, as the old cliche states “Rome wasn’t built in a day”
cheers mate
rG’day young fella…
Use a mortgage broker… the wraps on stuart on this site are pretty good…
“I have around $40,000 cash & don’t want to work”… I know what angle you’re coming from here, but try losing “don’t want to work” from your mindset, because this IP stuff is bloody hard work. Nothing worthwhile comes without a slog, as you probably already know…
have a great day
Cheers,
RBeing a journo myself, I would respond by saying don’t believe everything you read, especially opinion pieces… that’s all they are, opinions…
If you want to find out for yourself, find out an area where there are positive cashflow houses for sale, go and have a look… even if that means flying somewhere interstate for a few days or a week… that’s what I did, and it was the best move I have made in this whole PI thing. Sure, there are some dumps, but there are some good tidy homes as well… you have to put in the work (lots of it, no-one said this is easy) and make up your own mind…
cheers
rG’day Spanner
I would have thought that if you’re looking in regional Qld, that’s probably one of the best places to look at the moment. I bought 4 up there just over a month ago…
Cheers
Rcobar ain’t quite the end of the earth, but you can see it from there
Howdy,
I’m from a farming family up Cobar way… apparently the mines are still going strong there, and there’s always demand for rentals.
I have a cousin who runs a pretty solid plumbing business there, apart from that, I haven’t been there for a long time.
Cheers
JAinteresting read.
rfeel free to say you have a contact at channel 9, vluu…
richmond
