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Rugbyfan
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March 2, 2004 - 12:51 am
I’ll
‘Eat rich food, barbeque a yuppie’
Rugbyfan
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March 2, 2004 - 12:46 am
What street was it again, Scully?
I had one of the Century 21 agents do a hard sell on them to me about 3 weeks ago. Maybe at $600,000 they are good buying. I think they were all 1/4 acre or bigger.
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Rugbyfan
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March 1, 2004 - 2:14 pm
Why not go down underground a bit?
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Rugbyfan
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March 1, 2004 - 2:10 pm
If you look up Westan in the members section and send him an email or PM, he will give you some insight into the NZ market. He actually moved there last year from Oz, just to get into the NZ property market.
Minimogul is another who can help you. Muppet too, he is a Kiwi and lives in NZ (poor soul).
There are also a number of forumites who have bought in NZ who may get back to you.
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Rugbyfan
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March 1, 2004 - 1:50 pm
Originally posted by DANTIER:
TO STEVE MCKNIGHT,
Hello Steve,
I watch the to-day to-night show about the property millionaires and I wonder if you could guide or advise me how to get started with properties acquisitions in your club.I need to know how to source properties to return a positive cashflow given the fact that as a resident of New South Wales, most properties are negatively geared.I have read your book about 5 times and I fully comprehend and admire the contents but I am bogged down when sourcing the right properties. Can you help me and I will give you more details about my case after I hear from you.
Many thanks,
LINDSAY
Lindsay
If property investing was as simple as ‘ask and you shall receive’, there would be a lot of investors with properties but little idea what to do after signing a contract. Good try though, but I’m sure you are probably number 4367 on the list of people wanting him to be their mentor.
Steve’s book is a bit like a dress makers pattern. It shows you what to do, in fairly easy to understand steps, but it leaves the work part up to you.
There are almost daily posts in here asking questions like where do I find +ve Cash flow IP’s and where do I start – I was in the same situation not that long ago.
My advice is to keep reading and looking at the posts, Steve’s book is not the holy grail of PI. You also say that most properties in NSW are -ve geared. You are right, most are, but there are some +ve geared properties if you look for them. To coin a well used phrase, ‘It won’t happen overnight, but it will happen’.
If you ask some of the big time investors here (which is certainly not me), they will tell you that deals will not fall in your lap, if it was that easy, we would all be zillionaires in a year.
Getting to know areas outside Sydney that show promise, and visiting them often is probably the best way. It will mean you will have to travel and probably stay overnight, but getting to know agents is crucial to the whole process. Without an agent on side you will get no-where. Most of the good deals only make it onto the net after they have been sold. They are generally sold before they are even listed. How you ask? It is because the agents know who to call when a property is given to them to list. Any agent worth his salt will have a number of people on his books that want certain types of properties. It is your goal to not only get on the agents books, but for him to call you first.
Good luck and sorry about the long post – there was nothing on TV!
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Rugbyfan
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March 1, 2004 - 1:09 pm
I tipped all 6 games in the footy tipping! yay for me. Only second win in three years!
Cheers
Mel
Well done Mel, I got 5 out of 6, I missed the Stormers. Bugger
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Rugbyfan
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March 1, 2004 - 1:06 pm
Originally posted by **PropertyGuRu**:
Did I tell you guys that I made $1.75 in 4th One day between OZ-SriLanka lol….
Cheers
[]
PropertyGuRu
I want to be billionaire! []
Big bet Guru, at that rate it won’t take too many centuries until you become a billionaire!
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Rugbyfan
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March 1, 2004 - 12:59 pm
Originally posted by Scully:
There were 7 blocks of land at the end of our street that went up for auction on the weekend. We are in Sydney, and our suburb doesn’t often have any land for sale, so this was quite unique. The land has been getting cleared, roads built etc. for the past year. This time last year the RE’s were telling people that they would probably go for around $800,000 each, and there seemed to be quite a bit of interest, however a couple of months ago, when everything was finally finished, they were having trouble finding people interested.
One block sold prior to auction for $650,000. There were only 2 bids at the auction, both for $650,000, so all 6 remaining were passed in.
Me thinks things have slowed a bit in our area.
Cheers,
Karen[]
Karen, are these the blocks in Turramurra. I know of them. They were on with Century 21 I believe.
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Rugbyfan
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March 1, 2004 - 7:17 am
unchanged
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Rugbyfan
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March 1, 2004 - 7:06 am
900 post is not a lot if I can do 100 posts a day…lol…
Warm Regards
ChanDollars
If you do that I’ll have to recalculate.
You could always spend all Saturday and Sunday posting Chan$. If you like I can wake you up on Sunday AM. I have to get up at 4.30 to do a triathlon. I’ll have my mobile with me!
With Flood control activated you are limited to a post every 60 seconds. So between 4.30am and 11pm, you should be able to do 1170 posts. Even allowing for toilet/meal stops you should be able to get 1000 in!
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Rugbyfan
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March 1, 2004 - 6:58 am
How about looking at businesses already in the area. Do some door to door canvassing and you may find that a few are comming to the end of their lease, have some more money to spend because:
1. Most businesses have been pretty healthy lately
2. Some businesses may wish to show their clients a nice presence or street frontage and would be willing to pay a little more for a brand new office.
Also, see what businesses are in the area and then do some research. If there are lots of architects for exapmle, canvass architects that are in other areas. It is the same in Sydney, there are always groups of similar businesses in close proximity to one another.
As Chan$ pointed out, it may require some legwork, but wouldn’t you just love to show the other investors in the building that it can be done and that YOU are making money not losing it!
Good luck.
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Rugbyfan
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March 1, 2004 - 6:46 am
I agree Alexander, if I looked at what our Cremorne IP is worth and the rental yield we get, I would not touch it. 2 years ago it was a different story, but I think it has increased in value by close to $200K.
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Rugbyfan
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March 1, 2004 - 6:39 am
Sorry Muppet, just read the Sport’s talk post.
That a bit bold of you saying that three NZ teams will be in semi’s when there is not one in the top 4 at the start of week 3.
Sorry – I’m not competitive or anything!
BTW, did you/do you play rugby?
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Rugbyfan
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March 1, 2004 - 6:35 am
Jeez Muppet, don’t encourage him!
He will get the sack! His boss will look at his internet use and see 3 hours a day on http://www.forumfrolic.com.au%5B:p%5D%5B:p%5D
You’ve been a bit quiet today – rugby not your favourite sport at the moment??[}][}]
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Rugbyfan
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March 1, 2004 - 6:33 am
We live in Sydney and have 1 in Sydney(Cremorne) and 1 in Brisbane(New Farm). Sydney because of CG(bought 2 yrs ago), Brisbane same reason (bought 3 yrs ago)although a much smaller scale. Currently negotiating on 1 in rural area for +ve CF purposes. I don’t expect much CG but the yield is pretty high.
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Rugbyfan
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March 1, 2004 - 5:30 am
Where’s SIS and PG from?
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Rugbyfan
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March 1, 2004 - 5:27 am
North Shore, St Ives
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March 1, 2004 - 1:19 am
That’s great Chan$, I love it.
You have to keep it for a week though.
Your from Sydney too right?
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Rugbyfan
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March 1, 2004 - 1:17 am
You have got to laugh when the ONLY Kiwi team to win on the weekend in Super 12 was one that was playing another Kiwi team. I would have been ROFLMAO if it had been a draw between Crusaders and Blues!!!!
Hey Muppet, what gives?
Also Gavin Coles (an Aussie) won the New Zealand PGA tournament yesterday, with two other Aussies a stroke behind.
Westan, can your calculator add up that many points for the Aussies?
Muppet, roll on week 3 of Super 12.
Did I forget to mention that ALL AUSSIE TEAMS WON THIS WEEK.
(even though QLD shouldn’t have)
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Rugbyfan
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March 1, 2004 - 12:40 am
I have been very interested in the market in the immediate area where we live in Sydney. Over the past 12 months there has been maybe 20 houses for sale. up to 4 months ago, they were literally selling on the first open weekend (4 or 5 did that). Some took a couple of weeks to sell, one took 4 months (owner wanted stupid money for it – and got it eventually) and there were a few that knowcked houses down, built huge mansions and resold for a couple of hundred thou profit.
In the last 4 months though, 4 houses here have been put up for sale with only one being sold so far. The prices have not been unreasonable considering what others have sold for, but I guess people are not as excited about buying at the moment.
I think in this suburb in Sydney, the market is slowing. Not dead, but slowing.
‘Eat rich food, barbeque a yuppie’