Forum Replies Created
Thanks all,
the advice has been very helpful.Looking over the book again I think it is saying that the 11sec rule will identify properties with a gross ROI in excess of 10.4%. Net ROI is as the philosopher says: rent-all expenses and expenses includes outgoings, tax, cost of finance etc.
tks again
Fitness,
For God’s sake…GET REAL!! Your problems maintaining existing friendships stem from the fact that you either consciously or subconsciously think that your BETTER THAN THEM.
Kay absolutely nailed it when she gave us an insight into a part of her life. But it was just that ‘a part of her life’. Her sexuality doesn’t completely define who Kay is.
By this I mean just because Kay is a lesbian it doesn’t mean that all her friends and associates have to be!
Learn to accept people for who they are, just because they don’t have a bank account that matches yours it doesn’t mean that you cannot learn some deep truths about them or yourself by associating with them..’from the mouths of babes’ yeah?
You will not form better friendships because you are wealthy.Friendships form when we have things in common with people.
Friendships last when we depend on eachother for help, advice, success or happiness.The bonds of friendship are strong when they are based on such foundations.
Your plans need not define who you are completely..I’m sure there must be other facets to your character. You like to laugh dont you? Perhaps these friends make you laugh and perhaps they might need YOU for advice and guidance?
All I’m saying is focus on the things you have in common not the differences. Yes we all change somewhat through life but the fact that I invest in property doesn’t define me completely..it’s just something I do.
IT SHOULDN’T BE ALL THERE IS TO YOU OR YOUR HUSBAND FITNESS..KEEP THOSE FEET PLANTED ON THE GROUND AND TRY NOT TO BE TOO INTOXICATED BY THE SMELL OF BULLSHIT THAT YOUR SUCCESS IS GENERATING FOR YOU.
Cheers & Good Luck
RNAT.
Hi Mel,
Thanks for your reply. You’re right I am just starting off with commercial property, however I have had some experience with residential and it wasn’t good. I owned 5 -ve geared residential properties in Sydney’s west and sold them all about a year ago.
The property manager I had was very lazy and the tenants really messed up my places. Also the wealth building plan wasn’t sound, with every property purchase my available cashflow shrunk. With a growing family this all became very difficult.
Commercial attracts me because the tenants are running a business on your premises and there is a reason for them to keep the premises clean, tidy and in good repair.
The upfront costs with commercial are high but as with everything you gotta have a plan right? I have 2 other investors with me and right now we’re ready to spend about 1.2M. We hope to extend this to about 10M within 3yrs.
As you say there should be significant CG over the next few years but as Steve recommends I am investing for +ve cashflow and CG is a secondary benefit.
Do you think I should relax the rules a little? If so what do you recommend? Have you had any luck acquiring commercial property recently?
Again thanks for your reply. This forum is great! It really helps for like minded individuals to share ideas…RNAT
