Forum Replies Created
Thanks heaps guys!
Romina and Luca (and bubba Nicolas)
Originally posted by ruroshin:Hi,
I’m going to start my property investing quest early next year so I will need to have my trusty team in place. [smiling]
I work for solicitors.. I can try and get you good rates? they are well known.. so I am not sure how cheap they’d be!
Romina and Luca (and bubba Nicolas)
Is the cup half empty or half full?
ohh definitely half full![thumbsup2]Romina and Luca (and bubba Nicolas)
What are you talking about. I was in the same situation as you and I still have a topic open called “Desperately trying to figure something out” yet I am not going off my nut at the world.. yes there have been trying times (when I first moved here from Italy I moved in with my parents and my brother lived there too…. not nice back then) and my husband and newborn lived in our bedroom.. my mum’s house needs reno and my husband’s skin crawled everytime we woke up at night with cockroaches on us… yet the house was not dirty, just full of gaps everywhere…. then we went on a limb.. bought a cheap house (mind you it was 220K) and renovated it inside and out.. now it is worth apparently 280+ and rising but we are not intending to sell.. If we wanted to we could rent this one out or sell it, buy another, renovate and sell etc.. etc.. and go back to my parent’s house…. but NO WAY.. rather sit here and wait for some opportunity to come along. We have been living on my husband’s income (approx 35K gross), paying off a mortgage, bills and raising a (now) 2 year old on that money.. and we made it.. I recently started work again as I wanted more stability and maybe now we can consider PI or doing something to increase our income… My husband has gone cutting grass in the neighbourhood, we had a second job cleaning from 11pm to 3am every fri, sat and sun, and now I even started an online giftstore “viva gifts” (anyone feel free to buy! http://www.vivagifts.com.au).. in the hope we “make it”.
I am not trying to sound like we deserve a medal, but THAT in my books is called “trying”.[eh]
Romina and Luca (and bubba Nicolas)
If you want to live somewhere calm and crime safe forget Redcliffe and Deception Bay (sorry to anyone who lives there) but I have been in Redcliffe 2 years and can’t wait to get out….. hoons everywhere, teens going inside people’s yards at night, kids riding loud dirt bikes and doing doughnuts with cars at 2am every night… forget the Police, they NEVER seem to catch them, and even several emails and calls to the council, prime minister and police themselves have not helped. they do not care, but if something serious happens nothing is stopping me from suing them for all they are worth![grrr]
Romina and Luca (and bubba Nicolas)
Hi Kjs… a little honesty goes a long way!!
My plan was to buy a property with a tenant.. we found one which was 142K with a tenant paying 150 p/w I was not going to use a real estate agent to manage it as a rental property as the tenant, a pensioner, has been there several years and wishes to stay on for good… the only thing, it’s in an area which “apparently” is booming…. but how do I know it’s true? I have noticed prices have doubled for houses in the last few years and the value is rising still even though little by little.. land went from 2K a block (large) to no less than 40K a block from the year 2001 to date.
I just don’t know.. I know there is money to be made out there but how?[oink]
Romina and Luca (and bubba Nicolas)
but we would have to pay our mortgage as well as rent???
Romina and Luca (and bubba Nicolas)
Thanks everyone for the support…
Romina and Luca (and bubba Nicolas)
Hi Richard and thanks for your reply… what do you mean.. is this a good thing ??
Romina and Luca (and bubba Nicolas)
hi
well we worked out the repayments on a 140k loan would be approx $190 per week.. the rental is $150 so we would only be putting in $40 per week ourselves.. sure there is other things to consider like insurance, rates etc.. but I am sure this property will increase in value? I mean $140K is quite low.. everything else in the area is no less than 190kRomina and Luca (and bubba Nicolas)
sorry… but I did not understand what you meant… I am not selling my current house. We are keeping it and buying this second one as a second property to rent out.
Romina and Luca (and bubba Nicolas)
Hi and thank you all for your replies… no I would never consider selling my home to buy a rennovator.. apparently with our incomes they will lend us enough to buy another IP anyway.
I found a great little one for $149K with a tenant who pays $150.00 per week. We have made a verbal offer of much less and the seller is considering it. The tenant wants to stay in it long term which suits us fine.. The house is only a 2 bedroom but it is new and nothing needs to be done… what ar your thoughts?
Romina and Luca (and bubba Nicolas)
Our plan is to move back to Italy in 2-3 years time…. if we buy something and hang on to it.. for how long? I mean, isn’t it a good idea to buy another property and rent it out so the repayments on that loan get paid by someone else?
Romina and Luca (and bubba Nicolas)
THIS IS SOOOOOOOOOOO ********* HOPELESS…
I won’t swear because I am a mum….
[grrr][puke][grrr][puke][grrr][glum][glum2][cry]
Romina and Luca (and bubba Nicolas)
Originally posted by Dazzling:First I thought of “Dr X Incorporated”, then I thought maybe “Dazzling Developments”Whoa…..steady up there tiger !!! That’s got intellectual property rights hanging off and up the ying yang….I could probably let you borrow it for a modest 60% of all revenues – not profits mind you. Now – that’s a decent reward shooting for.
Why not utilise the first initial of everyone involved to make your own name and then add on
“_ _ _ _ _ _ Property Investment Group Pty Ltd”
Of course this will only work if some have vowels in their name.Yeah – that could work….although it’s a fairly big group Xenia tells me….so having Barry / Oliver / Larry / Linda and Oprah joining Xenia might be a bit difficult, might have to get the Scrabble set out and come up with something short and punchy. [eh]
I actually like bollox
Romina and Luca (and bubba Nicolas)
I was reading some figures.. they said that a good investment property has to give a certain rental return.. for example say I want to buy something with a tenant in for $115K, the rental, to be worth buying should be in the vicinity of 230p/w… isn’t this a hard investment to find? I thought that if I could get say a home for 180K and the rental of 180p/w that it would be still positive.. or it just isn’t enough?
[glum]
Romina and Luca (and bubba Nicolas)
Originally posted by elkam:Hello Romina
Would you consider doing it all over again? I mean selling your home and buying another in need of renovations?.
Hia dn thanks for your thoughts. Wll, yes I would. Not to the extent of tearing off walls etc but small rennovations yes. The only thing is… having to move all our things? live in that house and rennovate with the baby?
Romina
Romina and Luca (and bubba Nicolas)
and….? what does that mean? we don’t have 190K[wha]
Romina and Luca (and bubba Nicolas)
Hi JTW
Thanks for the advice… our property was only worth about 210K when we bought it.. and after tearing ALL walls to put gyprock (ceilings too), adding cornices, new skirtings, doors, paint, polishing floors (which had glue from the carpet!), security screens, downlights, more electrical wiring, opening walls, adding beams, closing doorways, swapping a storage cupboard and opening it as a built it on the other side…..NEW bathroom and toilet….. well… we added about 35-45K of value on it.. and spent little as we did it ourselves (say 10K all up).. be good to show you the photos somehow.. what a transformation!
really.. everyone is making it sound hard but possible.. but I am sure we can’t do anything right now!
Romina and Luca (and bubba Nicolas)
another little thing.. a lot of people are suggesting we attend $700-$2,000 seminars… I probably would consider it … if I had it in the bank !
I read of all these PI millionaires who used to be bankrupt or with a 300K+ debt…. HOW do they get out of their bankruptcy and become millionaires? Would a bank actually lend them money to buy their first PI? it just seems all so impossible![puke]
Romina and Luca (and bubba Nicolas)
