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Risky
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@risky
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Post Count: 146
February 4, 2004 - 7:39 am
Or ask real nice and they might just give it to you [^]
Also my rule of thumb for pricing neg gear ips the rent should be about the same as the asking price eg $200k should rent for app $200 pw so in my mind this property is over priced for the rental return. [V]
I thought I was wrong once, but I was mistaken !
Risky
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@risky
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February 4, 2004 - 6:53 am
Look out side of your area , theres a fairly large regional town in West Aust with pos cashflow that meets the 11 sec rule such as Collie and other smaller towns like Wagin, Mullewa , they are around its just whether you are game to get out of your comfort zone. However Due Dilegence on these towns would be the deciding factor.
I thought I was wrong once, but I was mistaken !
Risky
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@risky
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February 3, 2004 - 6:53 pm
Hi Dragons_1908 , check this site out , not in Sydney but gives some info on his next seminar ,price etc or you could probably email steve direct and he will give you the info your seeking .
https://www.propertyinvesting.com/resources/17.html
I thought I was wrong once, but I was mistaken !
Risky
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@risky
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February 3, 2004 - 6:08 pm
Security if you are looking at retiring soon you must be or should be financially secure ,therefore in a posistion to put a substantal cash payment on your neg geared investment property to make it positive and start making money instead of paying out money and sit back and let the appreciation go mad. If not look at refinacing on the amount you owe now as it is probably a lot less than when you purchased it and a new loan on the new amount owing will reduce your repayments hopefully enough to help the hip pocket. I dont know your situation but just tossing a few ideas around !
I thought I was wrong once, but I was mistaken !
Risky
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January 31, 2004 - 6:40 am
Im not really sure Kay , in my case it was properties from the Ministry of Housing . I was the only one that knew they were on the market as i jsut happened to be in the real estate agents office inquiring about investment properties when they emailed him a list of properties they wanted to put on the market.I then learnt he is the sole agent for the Ministry Houses in this city .I looked at all 8 of them and picked the 2 that i thought were the best .Hence the reason for a low deposit as there werent any other offers coming in till i had decided to pass or purchase.
I thought I was wrong once, but I was mistaken !
Risky
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January 31, 2004 - 5:29 am
Hi Dougall,
getting back to the subject on hand, you are not alone with this problem of not being able to find positive properties. That is the reason why the regional country towns have started to move and appreciate. Many investers have turned from urban to regional for a cashflow properties, and hopefully will continue to do so as to make my regional properties appreciate more [^]
I thought I was wrong once, but I was mistaken !
Risky
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@risky
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January 31, 2004 - 5:18 am
HI Crafty,
try typing the towns name in the google search and see what it brings . I find it to be a very good tool for researching small rural towns. Also try a few key words with the towns name such as population or infrastructure etc.
I thought I was wrong once, but I was mistaken !
Risky
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January 31, 2004 - 4:57 am
Hi Kay Henry,
yep you are correct with what you say , i have taken the 10 % deposit into account which takes it to 72000 so if you double that it will give you your 144 pw . I have done this because this is the amount that will be needed to borrow and therefore can work out the actual repayments to give you an estimate on whether it will be cashflow positive or not .
Im with you myself on when i look at the deal i too go with the full price when checking the 11 sec rule, actually i have to because i dont put down a deposit bigger that $ 1000 in fact i brought my last 2 ips on $200 deposit.And again you are right with all the extra fees such as PMS, vacancy rates , maintance rates, ins, etc etc it sure does chew into your cashflow. I have purchased and use Steves buyer beware templates and find them to be very helpful with the extra costs.
Regards Risky
I thought I was wrong once, but I was mistaken !
Risky
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@risky
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January 31, 2004 - 4:14 am
Hi Phil ,
Since your lease is about to end and presuming the same tennants will sign a new lease you should be able to get the info from your current pm on whether the tennant were paying the rent on time everytime . This would be agood guide on whether it is a good idea or not to manage yourself. However if they were irregular and took phonecalls and follow ups to get a few rent checks i would deffiantely stay with a PM . But if they are good payers and not on the phone aking for maintance every second day you would think the odds are in your favour that it should be a fairly painless procedure managing it yourself.
I thought I was wrong once, but I was mistaken !
Risky
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@risky
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January 31, 2004 - 3:46 am
Hi Apples, I would think the rental demand in that area that the unit is in would be the difference between whether you could rent it or not, some people dont want streams of people out side there homes and others dont worry about it as its handy to the shopping centre. As for the amount of rent , if you work on Steves 11 sec rule it would have to be rented at $144.00 pw working on a 10% deposit at 6% however your repayments would be around the $115.00 pw p&i or $90.00pw interest only loan . Therefore you would be able to reduce the rent a little if needed to attract more renters. Hope this helps.[^]
I thought I was wrong once, but I was mistaken !
Risky
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January 28, 2004 - 6:32 am
Hi alan-Jay
Ive also been looking into commercial property as an investment , but the more i look the more i see vacant which worries me. Have found a few that look real good on the surface ,but the posistion is behind the main building out of sight of the public or hidden in acorner of a mall or on the second floor or posistions like that. The old rule is you get what you pay for! Although there seems to be more cashflow in commercial , i think its mainly in the higher price bracket properties.
I thought I was wrong once, but I was mistaken !
Risky
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January 25, 2004 - 4:20 pm
http://www.richmastery.com.au
Risky
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@risky
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January 21, 2004 - 11:05 am
Good to awake the sleeping giant[^] Hi Dave and congrats on a great forum, book and business, Steve cant take all the credit []
I thought I was wrong once, but I was mistaken !
Risky
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@risky
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January 18, 2004 - 4:06 pm
Would like to know that as well Redwing as we know Steve looks for a win win situation so id say the agent walked away happy (but how ?)[^]is the six million dollar question []
I thought I was wrong once, but I was mistaken !
Risky
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@risky
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January 18, 2004 - 3:54 pm
Hi again [] Your probably right but 16 sqm is 4m x 4m about the size of my bathroom, i was thinking more in the range of 80 sqm ? [?]
I thought I was wrong once, but I was mistaken !
Risky
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@risky
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January 18, 2004 - 3:26 pm
Never looked into it but surely youve got one to many zeros there?
I thought I was wrong once, but I was mistaken !
Risky
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@risky
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January 18, 2004 - 3:22 pm
Hi BooBoo , just thought id throw my two bobs worth in,[:p] Came across one in Perth last week which is getting all sorts of flak because the dumb asses built it right next door to a rough pub [V] so you can imagine the flak there getting and i doubt if to many parents would be willing to leave there young kids there to play with the winos next door[V]
I thought I was wrong once, but I was mistaken !
Risky
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@risky
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Post Count: 146
January 16, 2004 - 1:24 pm
Damn have i been asleep that long [8][]
I thought i was wrong once, but i was mistaken !
Risky
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@risky
Join Date: 2003
Post Count: 146
January 16, 2004 - 1:22 pm
Hi all , Perth Ballajura [^] ” Go the Eagles “[^]
I thought i was wrong once, but i was mistaken !
Risky
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@risky
Join Date: 2003
Post Count: 146
January 16, 2004 - 1:00 pm
I get bored counting all my money[8] okay for the first hour or so then gets real boring so i just start burning it to get some excitement.[^][:p]oh hang on a sec didnt realize i was still asleep and just dreaming[V]
I thought i was wrong once, but i was mistaken !