Forum Replies Created
Yep! Anythings possible isnt it.Well done.
Russ.[biggrin]My wife says the diamond was attached to a homing pidgeon in the phone box which flew away without the police being able to track it.??????
Congrats.Mini.
Its amazing what can happen when that light goes on eh.Just wish it would turn off at night so I can get some sleep.LOL.
You,ll have Geo posting his brain out trying to catch up with your 1000th post.
Russ.Well guys time for an update.I put an offer to our friends for the property and definately kept it within reason.I certainly wasnt embarrassed about the offer and I didnt get any sour looks.So for now things look good.They will now relay the offer to the rest of the family I guess for consideration.I felt good ,they looked happy,so fingers crossed for now.
Russ.I,m not sure I get the gist of this post.
If you were to pay yourself for work on your own property it would be a wage.Which would attract a tax.So why bother when you are taxed at the end when you sell.?You are not going to pay a different rate.
Russ.Sorry Celivia dont know much about titles.I was really thinking aloud with this one.Assuming it wasnt to expensive or difficult I thought it would be an interesting excercise.
Thinking out loud,if pisces or anyone for that matter can afford to play with high figures like this then surely there would be more profit in some sort of development for these costs.
??????
Russ.Marc,
I really like that
It certainly gives us something to think about.
A caring hand can cause much grief.
Russ.Kay,
I am not being specific when I say people knock you.And I know that everyone here is out to make themselves a success in one way or another.I,m talking in general.And I hope that young people read my posts and glean something from them.There are a lot of people who read this forum but dont post their opinions.They are a big audience and hopefully some of them will read some of my ideas and go away with a different opinion on life.I know I get a lot of emails from people every week commending me for my outlook.People enjoy reading positive things and if my ideas or posts help them go away and rethink their position in life that is great.
When people see that things are possible they have a better outlook on their own situation.
So yeah when I post on here I dont target anyone here but everyone everywhere.
Russ.Pisces,
Forgive my ignorance but I cant see why you would put so much on the line to make such a small profit.A very small profit.A lot of stress for a very small profit.
Wouldnt you be better looking at other ideas that would be a little more lucrative.
For example; buy a set of units that are non strata for say $540 000.7 units.Each unit self standing.About 77k ea.then look at strata titling units.Dont know how much this costs,sorry.Then look at selling each unit for 120 k ea.I think this is a possible scenario.So you make 300k less expenses.A joint venture to assure funding with someone and a neat little profit for each party.
Just a thought.
Russ.I like to explore all avenues when it comes to investing.The more avenues I explore the more I learn.And the wiser I get.I am still new to this game and I will keep exploring all the different possibilities in the hope of finding the ones that suit me best.
It has taken me forty years to find something that I can be really passionate about.Yep Real estate.Now I have found something that drives me I will keep the engine running for as long as I can.There are so many different ways of doing things and you just have to open your eyes to the opportunities and not be put down or put off by the disbelievers.Believe me they are everywhere.
Someone saying you cant do this you cant do that.
They just dont like the fact that you are actually doing SOMETHING.
I enjoy trying and doing things differently.And it is interesting doing things others have done and seeing if they work.But basically for me anything goes.Give it a shot.If it dont work try something else.Sooner or later you have to get somewhere.The more people say dont do something the more I become convinced that it will be possible.
I remind everyone that “Whatever the mind of man can conceive and believe,man can achieve.
Dont ever let someone say you cant do something because if you set your heart to it you can do anything.
This post is for everyone and aimed at no-one.
Not in malice anyway.
Enjoy life guys and give everything a go.The more you do the more chance you have of getting it right.
Russ.[king]Trust.
This is the biggest obstacle to overcome when you deal with a stranger.How do you earn peoples trust? Until such time as a deal has been accomplished and everyone receives their share then no one knows if they can trust someone.You have to be able to prove your worth.This is where we get the catch 22.If no one trusts to do first deal then how do you show it can be done?How do you earn the trust.
Over the years people have been burnt and have become very sceptical.But wouldnt it be a better world if people started to trust again.learn to have faith in each other.Do unto others as you wish they do unto you etc.
Just because someone explores an avenue of making money by asking for financial backing doesnt automatically make that person a charlatan.
Russ.Duplex pair $60 000 returning $200p/w = 17.3%gr.
Duplex pair $90 000 returning $200p/w = 11.5%gr.
House $20 000 returning $70p/w = 18.2%gr.
House $49500 returning $110p/w =11.5%gr
House $32500 returning $160p/w =25.6%gr
I just bought the last one.
I could keep going if you like.
Russ.Waz11,
In my opinion you are on the right track.I,m no expert but I look at it this way.The less you put down on a property the more return you get on your initial outlay.The less you put down on each proerty the more you can purchase with your cash/equity.Once you get started it will all fall into place.I only invest in +cf property and I look for a gross return of around 20-25%.
Russ.Its lucky you only have a small family LOL.You better fast on Saturday so you have plenty of room for this years big cook up.[biggrin]
When the man got his instructions he left with the diamond and deposited it somewhere else as per the instructions.The kidnapper knew the police would be watching.So he told the rich man to take the diamond elsewhere and not tell the police.
A low doc loan means low documentation.They charge a higher rate of interest because the risk of giving you a loan without knowing your income is a lot higher.It has nothing to do with being an investor or investment type loan.
One would be foolish getting a loan without knowing if they have the ability to service it in the worse case scenario.Celivia.
How can you say that offering a low price on a house should be illegal.Everyone has their figure.
I know what I want for my house and if someone offers me less I wont be mad or think that he is unethical.You dont know what someones price is so you always go in low and meet somewhere suitable to both parties.If you want to talk about ethics what about banks or finance companies.If you miss a couple of payments they sell you house for what you owe on it.Not what it is worth.They dont care but I bet you dont blacklist the bank because of the way they do business.You still go there for a loan.Banking with them,borrowing from them means you condone what they do.Or you accept their behaviour because they are bigger than you and you still need them.Everyone has a choice on how they manage their finances.There are so many agencies that people can turn to for help or advice.But instead like pisces said they choose to smoke gamble or whatever and cry poverty.And then when someone is seen to be getting somewhere there is a huge outcry from the underdog about how they have been mistreated or taken advantage of.
I have learnt one thing over the years and that is.People always look at their worse attributes and then pull everyone down for the same thing.Because of their insecurities about themselves they lash out at others.
I have found that instead of trying to pull other people down to your level why not use that energy to improve your own situation.
Russ.My favourite saying is,
“The journey of a thousand miles starts with a single step”.
Quite often on my journey through life I have looked at a job or task and been scared off by the sheer enormity of it.When looking at the whole picture things can sometimes seem a bit daunting.However when I came across this saying it had a profound a effect on me.
I started taking on tasks I would never have dreamt of before.I now look at each small step and tackle it one by one.And before you know it you look up and there is light at the end of the tunnel.
I wanted a motorhome so I could go away fishing.But I couldnt afford the hefty price of $80 000.So I took a different approach and bought a bus for $6500.Each week I pulled a bit more out of the bus until I was left with just a shell.A very rusty shell.And each week I bought a bit of steel and rebuilt what I could.Each week a bit more and so on.Now after 3 years all I have left to do is the kitchen cupboard.When I get a few dollars I will start on it.When I first looked at the rusty frame I thought what a huge job but with each day and each week the job got better and better,closer and closer to completion.I figure I,m at about the nine hundred mile mark by now and each of those steps I take is getting easier and easier.So far I have probably spent a bit over 15000 but I am a lot happier to do it my way than have to go without because the 80k was to daunting.
This saying can be applied to everything we do in life.
Russ.Thanks for the replies.The reason I posted this question is because I do have friends who have property for sale and it got me to thinking it might make a good post on the forum.The property happens to be in a town that I am interested in investing in.Thats how I found out about it.I was talking about this particular town with my friend and he happened to mention the house.I asked what they were going to do and he said the family just want to get rid of it and because they live the closest(about 100km,s)from the town they were asked if they would handle the deal.My friend gave me the address and I checked it out on my last trip south.From the outside it looked pretty much the same as others in the area for the same price so I figured what they were asking was reasonable.When I spoke with them again they offered to let me look at the property inside.
I did this yesterday and found the place to be fairly good except for some white ant damage in the bathroom.The house is nothing brilliant but wouldnt expect to much for the price.
Anyway it has a great shed out the back and this has attracted my interest.
I am going to put an offer on the property in line with what is in the area but a little better because of the shed.The other houses dont have a shed.
Anyway while I was sitting here last night going through the topics on here I thought it would make an interesting post.Hence my reason for the topic.
Russ.When it comes to salary mine is minimal.Less than 10k a year.But I am still able to pull a few deals here and there.When something is good the bank will talk.When the bank runs dry then turn elsewhere.If the deal is good others will want in.
To all the sceptics I say keep your money.To those of you who have faith I say lets talk and see how we can minimalise your risk.Then when we are all happy with a deal it can proceed.
What I am doing is no different to a company floating on the stock market.
Investors take a chance with every deal they do on the stock market.When a company floats on the stock exchange they do it to raise money to improve their business.If they are successful the price of the stock may go up and you may get a good return.However with the stock market as with managed funds you have no say as to how your money is spent.But if you invest with a private company or person then you can be part of the decision making process so you know what will be happening to your money from day 1.
Russ.[king]
