Forum Replies Created
Forty sounds like a good age Weston.I,m with you on the age thing but no red BMW yet.I like the idea though.Two seater anything as we have got rid of the kids LOL.But my missus is also very realistic and probably wouldnt let me indulge either.
Russ.[biggrin]Waz11.
Can you get out and have a look at them? I would never trust an agents figures when it comes to repair work.Are there tenants waiting to occupy once you do the work?
I always ask myself.
1.Why is it cheap?
2.Can I find tenants to fill these properties?
3.How much do I have to spend to get them tenantable?(Is there such a word?)
4.What are other properties fetching in the area.
5.Why are they selling?If something is really cheap there is usually a reason.But you need to get out there and have a look.
Russ.Geo
Your good at getting those numbers up.You,ll have to buy a new computer soon so you can get the posts to go in faster.LOL.
I know you are only having fun so all the best and good luck with catching Chan$.
Russ.Westan
I picked my avatar because of the beard.Mine looks similar but is still relatively dark.Only a few grey hairs. As for the top I still have a bit more than the avatar but I dont think it will be long and I may need a hat like you LOL.
Russ.[king]I think i,ll stay where I am.Good old earth.Too cold elsewhere.And there,s still a few bucks to be made here.
Russ.[snitch]Hey Westan.Weve both got grey beards.But your covering your head??????LOL.
Russ.[biggrin]Westan.
Go to Members,My profile,Edit profile,Scroll down till you find avatars,scroll thru avatars till you find one that suits you and click it and leave it.
Russ.[king]I think I would look at an option here with the three wishes.Three wishes with the option of another three once the first three were used and so on and so on.
Russ[biggrin]I think the point is this.Unless you actually manifest the idea in your mind then you will have no way of achieving it.Once you imagine something and then start living it in your mind then you will be able to find ways of achieving it.
These people had never set their goals that high and so could not imagine what they would do if they got there.
Russ.You could always look at having a self contained mobile home to live in on site whilst doing renos.
Thats my plan of attack.Our mobile home will be totally decked out for long term renos.This is especially handy if your properties are spread all over the state.You can be holidaying and maintaining your investments at the same time.
RussThere are literally hundreds of properties that meet the 11 sec solution all over the place.The trick is to find the 10% that are still good.And preferably already tenanted.Email me if you like for some one on one
Russ.[biggrin]There is nothing wrong with the idea and if done properly can make a good deal of profit.What you have to do is work out all the costs.Relocation,new roof,windows,plastering,electrical,plumbing.septics if needed,landscaping,painting,driveway,patio,paving,fencing,retic,roll on lawn.Price of block.
There are a lot of costs to consider.Another one is engineers certificate.
Then you look at what is in the area and what they are selling for.Is your finished product going to equal or better what is there?
If you can do it all and sell for a comparable price with profit then go for it.
But remember you will have to get your hands dirty if you want to make a profit.
Russ.Thanks for your post wrappack.After looking around in this and other areas I have found that like you say if I try to help this lady by paying what she needs I will be doing myself out of a fair bit of dough.I have to look at investing my dollar by looking at the figures and not the emotion.I,m sad to say I wont be helping her on her way by buying her house.I,m not rich and I have to look at the reality of the situation.
I surely hope I dont come across these situations too often as they are very difficult.
Russ.Hahahaha I reckon I could do with a bit of inner peace at about 5 o,clock.MMMMMMMM.Should sleep well tonight LOL.
Russ[biggrin]Boardy.
The cheaper the property the less you have to put in to get the deal happening so therefore the greater return on your initial investment.Geo.
Its not nice picking on women like that but it sure is funny.[biggrin]Oh dear Thats terrible Hahahahahahahaha.[biggrin][biggrin][biggrin]
Pisces I dont think there would be need for any upgrading at all.Just a simple matter of buying and reselling.As for the option I hadnt looked at that side of it.Very creative.Perhaps you could email me and then I can send you some pics .Then you would have more idea of where i,m coming from.
Russ.Pisces.
You assume that because the units are priced so cheaply that they must be either old or dilapidated or in a small outback town.
Have you ever heard of a genuine bargain coming along once in a blue moon.
I was thinking out loud when I answered your post re:alternative ways to make money.
These units happen to be fairly new and in great condition and in one of the best areas of town.
It is just that people are not looking at alternative ways of doing things.
You assume that because of the price there must be something wrong.
Bad assumption.The big problem with these units is coming up with the money to start with.
Why? Because the banks see a seven unit site as a commercial venture and will only lend 65%.
Therefore a lot of people are unable to purchase this property as a lot like to borrow 100%+.
This is why I suggest a partner or partners.Once you have the deposit then the rest is very achievable.
Russ.Lucifer.
Thats a very good post.I must read some of those kyosaki books.
Russ.
