Forum Replies Created
I am part of the RP2 intake (Results Program 2). I know that Steve is doing RP3 shortly not sure of the details.
My advice would be ring up Property Investing.com in Melbourne and speak to the friendly PI crew who will be able to give you the info.
If you get the chance to join, I have only one thing to add DO IT!
Ros
Hi Leila
Yes as far as I am aware they are still going. I will drop Troy & Bec (organisers) an email and let them know that you are interested in attending.
Ros
Thanks Jebro. We have just priced a sheet (we live in the north-west of WA) and it would cost us $280.00 per sheet.
We have decided to use tiles but will keep it in mind when we reno closer to a mojor city were the cost per sheets are closer to $150.00.
Thanks again
It depends what your goals are. Are your future goals capital gains or cashflow positive real estate.
Your income is not a problem and if you decide to rent it out could easily manage the shortfall involved.
We were in a similar situation 18 months ago and decided to hold and rent out (Perth) choosing to keep a foot in the market. It paid off (for us). We weren’t willing to take a loss at that stage and could afford the shortfall (negative gearing).
Our goals now have changed and mainly look for cashflow positive real estate.
We earn the same as you do but have set up a company to get the most out of our earnings.
It all depends on what your goals are but don’t get too strung out it’s all a learning curve.
Ros
Can the agent take the buyer’s deposit even though the sale will not go thru? Is this the case in all states? How can you avoid it happening again?
Sorry this is happening to you Kiwi and thanks for sharing your situation with us.
Ros
Dear Amanda
Thanks for sharing your experience. I had forgot all about mission statements. I remember writing one 5 years ago (family mission statement).
I am now re-doing our mission statement to incorporate the journey we are now on.
Thanks to your tears of frustration (and the willingness to share) I am now re-charged and know what outcomes are “must haves”.
Thank you, thank you, thank you
Ros
I attended a meeting and also purchased a property thru them.
All I can say is do your own due diligence, check and double check the numbers.
I don’t know what they are teaching now but it was all about negatively gearing your portfolio in 2002 when we purchased our IP.
I would not buy thru them again but that is a personal choice. Our focus has changed since then and now we are actively looking for more CF positive investments.
The properties they sell are above market value that is how they make their money.
They are for real and don’t really pressure you into anything it is just another way of buying property.
Good luck.
Ros
Hi
Just a little more information to add about Port Hedland. Make sure you do your sums the shire rates and building insurance are triple the amount you would pay in Perth.
The houses are generally older style fibro and there are certain areas which you wouldn’t want to buy in.
Other than that there are a few bargains still out there but as soon as they hit the market they are sold.
Ros
H Aleta
We have just painted our IP and one room had wall paper. We did not have time to strip the paper so we painted over it. It looks good but eventually we will have to strip it off.
As for your kitchen if it is functional why not give the cupboards a coat of paint or just replace the cupboard doors.
Good luck.
Ros
Thanks Alex
I’ve been talking it thru with my husband and we have decided that it is alot of money to outlay.
We will keep looking for more resonablely prices CF+ properties I know they are out there.
Thanks again
Ros[thumbsup2]
That’s correct. They pay for their water usage but the sewerage etc is included in the water rates that the owner pays (a tax deduction) if it makes it any easier?
Originally posted by audrey123:Hi,
As a real estate agent myself, ( i know i shouldnt be admitting this on this forum!![biggrin]) dont go around the agent to the vendor. This will only p!$$ the agent off straightaway, [grrr] and if there is a close relationship between the two, the agent will tell their client not to deal with you. AT ALL. trust me ive heard it happen to friends of mine in my suburb. Starting out, not worth it, losing out on a good deal. Its kind of like lowballing your offer TOO low, you can annoy the vendor and they wont negotiaite with you, because you have offended them. One other thing in handling agents – be firm. [comp] If you show any level of doubt, [crying] they will jump right on that, its their job to spot those weaknesses. Fake it till you make it![aacool]
My main tip would be to you – be prepared to walk away
easier said than done, ive done it myself, and stuffed up because i was too weak to walk away, and paid too much. At the end of the day, a good deal comes round on average every 14 days. It may not seem like it at the time, but it will.[thumbsup2]
One other thing, if you are that worried about your first one, how about employing a buyers agent to get that saving in there. What you can spend on a buyers agent to negotiate for you, can sometimes triple in what you save by what they managed to negotiate the price.
If you want to ask any questions, send me an email.
GOOD LUCK![thumbsup2][thumbsup2][thumbsup2][thumbsup2][thumbsup2][thumbsup2][thumbsup2][thumbsup2][thumbsup2]From experience we were also told we were not to contact the owner. This is what happened;
we were about to settle on a property but found out too late that there was major structural damage (first building report was bogus). We then contacted the owner direct because we received no satisfaction from the (his) agent.
That conversation we had with the owner ultimately released us from the deal that would of cost us at least an extra $50,000 to rectify the damage that the owner was aware of and did not disclose to us. Sometimes you just have to look after your own interest because no one else will.
Ros
