Forum Replies Created
Huge capital gains.But how does that put money in your pocket each week when you retire.You have to sell a property to get the gain.Then you pay a shitload of tax.Then you have to invest that money somewhere to give you instant access so you have a weekly wage.
I still think the idea sucks.
Russ.How do you get an income off the negative geared invetments when you retire.In WA the rents are a lot lower on an expensive house than they are in the east.
You could own a $300 000 house and still only get 2-250p/w at best.
If you own a $150 000 house you get about $150 p/w.
Yet if you have a $50 000 house you get about $100 p/w.
So it makes sense to spread youre investments around the state(so you dont go broke if the mill closes)in $50 000 houses.
If you have 2 houses at $300 000 and lose a tenant you lose 50% of your income.
If you have 6 houses at $50 000 and lose a tenant you lose 16.6% of your income.
Income on 2 houses=$500 -50%=$250
Income on 6 houses=$600 -16.6%=$500.40
The older you get the more you need to protect your income.
Russ.Ok my figures are a bit wishy washy but it is the point i,m trying to make that is important in my view.
If you own one house at $150 000 and rent it out at $150 p/w you have $7800 p/a to live off in retirement.
Now if you take that $150 000 and invest it in 10 +CF properties using other peoples money(bank loan)you have a possible return of $50 p/w ea.
So we now have $500 p/w or $26 000 p/a.
In my view it is better to have a few +CF properties returning you a passive income to live off in retirement than just owning 1 home and having very little money.
And anyway all advice on here is only that.Advice.
Before you jump in the water go and seek proffesional advice.
Russ.A combination of (buy and hold) and then (buy and sell).
When purchasing keep the ones that are the most lucrative.
Fix up the cheapies and then sell for good profit to enable larger cashflow for more buy and holds.
The trick is to have a lot of property returning you an income when you choose to retire.
In my view you are better to have 100 cheap properties returning $50? p/w 260 000 p/a
Than say owning 5 expensive properties outright returning $200 p/w 52 000 p/aIs it a holiday unit or a house?
You wouldnt go to too much expense with just a long term rental.However if it is a daily rental then you will get more $$$ if it is fully self contained.
Russ.Good luck Lozza.
You definately have the right idea.I like to write a list each morning of the important things that I have got to do.I then do each thing and cross it off the list.Before I started with this strategy I used wander around do a bit here and there but never actually get anything finished.
I find I am achieving more now by listing priorities and doing the important 15% rather than mucking around with the unimportant 85%.
Russ[thumbsupanim][king]I like this one.I,m a Leo and like to smile and be happy.[king]
RussWe watch the way our children live their lives and shake our head at times.They dont have any goals and blow all their money as soon as they get it.Then when they get in the poo they come running home .
One day they will grow and realise that goals give them purpose in life.If you dont have goals you dont have direction.
My youngest boy always used to ask when are we going to get there when we went for a drive.
We used to tell him the journey is more important than the destination.
If you think about our ultimate destination you wouldnt be in a hurry to get there.
Ultimate destination:DEATH.
We are born and we die but the important part is the journey between the two.
Try to make the journey worthwhile,set some goals,achieve something and reach your ultimate destination knowing you have done something during the journey.
Russ.Its good to see the guy get something.Dont happen too often.
Stars dont bother me.Some people only post to get stars.Strange I think.I,m here because i,m genuinely interested in making money via positive cashflow real estate.The stars do have some relationship as to how devoted someone is to the forum but that doesnt mean they know a lot.But then it doesnt really matter how much you know because in my short time on the forum I have found that a lot of people are just plain ignorant and it wouldnt matter if you gave them the best advice in the world it wouldnt be appreciated.All they want to do is knock you for your effort.
Then there are the ones who send you a nice thankyou email for your words.
They make it all worthwhile.
To all you guys who support me.Thanks for your support.Its great to be part of team.
We will work together and achieve great things.
Keep up the great work Steve and crew.
Whens the next chapter of 0-130 coming out.
Cant wait to read it.
Russ.A lot of what you do is dependant on your age.
If you are young and earning top dollars you can afford to go the -ve way and build up heaps of gain over the years.
But if you are getting a bit older then it pays to go for +cf so you can enjoy the benefits straight away.
The older you get the less risk you should take.
If you dont have much money you shouldnt take too much risk either.
Russ.In WA you only have an obligation once you have been introduced to the property.If no one has shown you onto the property then go with the one you feel most comfortable with.
Russ.Kay Henry.
I do what the book says because it makes sense.Thats what learning is all about.If a principal makes sense then apply the principal.
I cant keep borrowing from the bank when I dont have a job.So therefore I look at ways of being creative.I ask myself the question.”This is a good deal but you cant borrow anymore,are you going to pass it up or are you going to do something?”
My brain then searches for an answer like everyones does.It tells me to read and research and find new ways of doing things that I hadnt thought of before.
It finds creative ways to access the money needed for the project.It acts on what it has learnt.
Re:Posting on the forum and asking a huge audience for help.
No one is obligated in anyway.But those who wish to act upon my suggestions have the same good opportunity to make a dollar with me as others can.I could go to the bank and pay big fees or I can source money through being creative and pay no fees at all.This just adds to the profit at the end of the day.
But for all the people who dont want to take risk that is fine.I,m not twisting anyones arm.
But remember that if you dont take a certain amount of risk then you will be taking the long slow road to the top.
Russ.Well done Di.Good on ya.Thats what I like to see a successful +CF investor.Keep up the good work.I,ll see ya at the top.
Russ.Kay Henry.
Just why I do these things.So many people wouldnt ask family,friends,strangers etc.And that is why most people dont get anywhere in life.They are tooo afraid to get out of the comfort zone and do something different.Well not me.Since reading Steves book I have a whole new outlook on life.And on my journey to the top I want to help as many people as I can.I am now engrossing myself in learning the techniques applied by millionaires and following in their footsteps.
I think it was Steve who said something about finding rich people and emulating what they do.Well that is my plan.If they made it to the top then so can I.
“Whatever man can conceive and believe,man can achieve”
Everyone has a different way of getting to the top.Me I like to do what has already been proven.
No re inventing the wheel for me.
Russ.Kay Henry,
I read a lot and find what I read very interesting.I wouldnt be here on this forum if it wasnt for reading Steves book to start with.
What interests me is the fact that so many people read a book but never actually try any of the things in the book.
Personally I cant see the point in reading a book if you dont learn something from it.
The reason I posted my article about finding people with 5k is because in part of the book i,m reading that is exactly what the author suggests you do.
You may like to read the book.The chapter you need is seventeen.”GREED and NEED:USING PARTNERS”
“Let me challenge you to find five people in the next two years each of whom will be willing to lend you $5000.You would have a tremendous financial resource at you disposal using the $25000 you borrowed from your partners.And your partners would love you for it because you would be doing something for them that they could not do for themselves”
Quoted from the book “NOTHING DOWN” by Robert G Allen.In hindsight I think that the heading was a bit strong for the situation.It was an eye opener for me and the more I thought about it after writing the post the more I realised that this lady needed help.Funny thing is she seemed quite with it when I spoke to her.So not exactly sure about her condition (medical,mental,physical.)
Thing is I only went to inspect her house not get tied up in her problems.
But the more I think about her predicament the more I want to help.
Trouble is I dont want to interfere.
???????
RussI feel very deeply about what I write on these forums.I also feel deeply for people who are less fortunate than myself.That is one of the reasons I spend so much time on this forum in the hope that I may be able to cheer someone up or help someone in some sort of way.
I do not profess to be a proffessional adviser and people have the right to question what I say.
I post for the fun and enjoyment I and others may recieve.
My views may be a bit one sided at times but this is the home of positive cashflow and all those who dont like +CF should be a little more discreet with their ideas in this regard.
I promote +CF yet I get shunned for my thoughts.As for the unfortunate lady in my story I am not taking advantage of her at all.She is asking $20 000 for her house and it is overpriced for what it offers.
What I was trying to do was offer this lady a way out of her predicament because I dont think any one else would pay her what she wants and she will just end up worse off.
I am not in a position to pay her fees to move on as I myself am on a pension.
That is why I explore alternative ways of doing business.If any one wanted to help out they would all get there money back plus profit from it.
I am not scamming anyone here.
If anything I am trying to achieve a win win situation for all concerned.
Russ.Can I write anything without you attacking it Monopoly.
I have enjoyed this forum and made lots of friends but when people like you get on here and have nothing better to do that attack others then I think it may be time to give it a rest.
I know a lot of people enjoy my posts as I get mail daily.
Russ.[angry2]Some people dont like books.But from my experience there wouldnt be so many if they werent useful.
