Forum Replies Created
Monopoly
You seem to be very cynical about all my posts.
You have done very well to get where you are but there are a lot of us who are still learning and books are a great way to learn.
I dont think you should put people off with your way of thinking just cause your friend didnt cut the grade.
Russ.[angry2]Admin.
I liked it where it was.You could go straight to it and find a good thread.Now I have to go searching!!!!!
Russ[angry2]Go to the library and get a book called “MONEY SECRETS OF THE RICH” by John R Burley.
Read the book.Apply the principles.Problem solved.
Good luck.Russ.Tom.
This site is the home of positive cashflow.However most the people here are more into neg.and look at CG more than anything else.
I am +cf all the way and I think I am in the minority from the way people post to my threads.
So you are likely to get a few different viewpoints.
Personally if you got fired up reading 0-130 then read it again and get fired up again.
The reason you got fired up is because it makes a lot of sense.Especially to a beginner who doesnt need to be losing money by feeding an alligator.
An alligator is a property that you have to keep feeding for years and years in the hope that you will eventually make a capital gain.
To start off with you should stick to Steves principals and feel your way into the game.
He is a success and so can you be by emulating what he has done.
Go positive all the way my friend.
I know you can do it.
RussDont rent to the ex.Best not to know your tenants.They will try to take advantage of you.
Guys
I feel very sad for this lady.I dont know if she chooses to live like this or whether she has a medical condition that causes it???????
I,m certainly not out to save the world but I would like to help this lady sell her house and move closer to her children.
However unless she accepts a suitable offer I feel she will be left in a worsening situation.
I think if I could offer this lady enough money to move an get settled near her children then perhaps she would let me take over her property and fix it up to a more saleable condition.
If I was able to onsell for her at a profit and then give her the money to pay out her loan we may be able to do something.
All offers of help from you guys would be greatly appreciated.
You could all chuck in a couple of dollars to get things happening here and do your good deed for the year.
Russ.I consider buying anything.I,m still considering this property.I think i,ve nearly got the wife hooked up for the cleaning job.
Seriously if I get it for 16k spend 5k ive got a rental of $80p/w.She was getting $60 for it before so I think $80 would be fair.
Every dollar adds up.
Russ.For us small time players +cf is very important.Here in the west you dont make the kind of returns on property like you do in sydney or melbourne.But add a few deals together and you get a healthy pay packet when you retire.
In all the books i,ve read about investing and becoming a millionaire the biggest emphasis is on +CF.
If I dont have a job I cant feed an alligator(-cf property)
So I choose +CF.I do nothing.The tenant pays off my investment.And I get a little richer everyday.
So if I can buy one IP returning $100p/w then surely I can buy more.I only need ten and I triple my pension.Not that hard really.I,m one tenth of the way there already.
Now why would I choose to own a property outright when I can use other peoples money as leverage to get me where I want to go.
If I put down 10% on a 32k IP plus costs my initial cost would be about $6200.If I can get $160p/w rent then i have a good chance of earning about 4500 p/a.this is a return of about 70% or so.Not bad considering if I put the 6200 in an ordinary savings account I would get about 0.001%.
So by spreading my 6200 over 10 properties $62000 I will in effect earn 45000 in passive income.I still have another 100k left to invest,mmmmmmmmmm keep doing the same thing and I have a tidy income.
Now if I leave the 160k in my house and rent it out i get 150 p/w.
I think I know what I prefer to do.Sell the house invest the money live in my bus and be financially independant in no time at all.
I dont see +cf as a bad thing when it works out like that.
Russ.Monopoly.A game about real estate and money.
+CF a game about real estate and money.
Lets see now.Whats the big deal about buying a house for thirty two thousand bucks or there abouts.
The big deal is that I get about a hundred bucks a week for doing stuff all.
I put no money in to the deal my life goes on the same today as yesterday only now I get an extra 5200 a year for doing diddley squat.The house is in good nick, shouldnt require too much maintenance the tenant is a young school teacher no kids.The place is immaculate.The rent is payed monthly by the government into my account so no PM fees.The extra money it makes gives me more deposit for next IP over time.
No big deal at all.
You can keep feeding your -ve IP,s all you like and hope for a big fat gain at the end of the decade but i,m quite happy to take my $100 p/w and put it to good use.
No big deal.Dont think they have a dating area on here but best of luck.
How much did you say you were worth?????$$$$$$$$
Russ.[biggrin]What kind of pool is it?If it is fibreglass then there are people who remove and landscape the area for getting the pool.They then sell the pool to another fool.Hahahaha.
Pools are bad news no matter where they are.
Russ.Jump in at the deep end and start swimming.
He who has never made a mistake has never attempted anything.
Every action has an equal and opposite reaction.
But unless you take action then nothing will happen at all.
Best advice is to find someone who has made it.And emulate what they did.You,ll find a lot of them had no idea about money only the desire to have money.Once you have a desire for money you will find ways of finding and keeping it.
“Whatever the mind of man can conceive and believe,man can achieve”
I,d bet that before you paint a car you already know what it will look like.
To make money you can see it in your mind before it happens just like painting a car.
Think of a goal you want to achieve.Now take the thought a bit further and actually picture yourself doing it or achieving it.Start living the goal in your mind and before you know it it will start happening.
I only joined this forum a couple of months ago maybe not even that long but already I have put offers on multiple properties and had two accepted.You just have to get out there and do it.
I dont even have a job but I wont let that stand in my way.Everyone said I wouldnt get a loan.But I kept at it and now it looks as though I may have two loans lined up.
Its all out there my friend.You just have to bite the bullet and get on with it.
Best of luck.
Russ.Hope the tenants like it.[biggrin]
Amazing what a coat of paint can do.Hmmm dont expect toooo much too quick.There are guys who will answer your questions but you have to be patient.
1.I dont think there are any limits on what you own and sell.The more the better .That way the government gets more tax out of you.
2.Ask a proffesional.Remember to get the most out of any investment you need a team of people.People you can get advice from,acountant,lawyer,parent,wife,sister etc.
3.You have to do your homework on figures.Ask your team.Accountant RE agent etc.
4.Financing property is up to the imagination.Read “Nothing Down” by Robert G Allen.
Its an eye opener.
5.Read # 4.
6.Read everything you can get your hands on.And do it daily.hi.dont despair.investing is a long term thing.sometimes you have to wait for an answer on here,long term get used to it LOL.
My advice.You are young.You have a lot to learn.Best way to learn is reading books,reading posts on forums,meeting wealthy people and asking them questions.
Best book I can recommend is “Money Secrets Of THe Rich” by John Burley.
Read it . Do what he says. And prosper.
One other bit of advice.
When someone helps with a bit of advice.Listen to it.Analyze it.Act on it.
Wish I was young and had the wisdom I have now.
Russ.An easement is basically a right of way.So that means you cant put a building or obstruction of any sort on the easement.Lots of proprty has easement for different reasons.I had one on my hobby farm.It gave the electricity people right of way to work on power.So you couldnt build a stable or something on the easement.Some easements are for water authority access to drains.
Hope you get the picture.
Russ.Finding +cf property is easy.Just jump on the net.Any fool can do it.They are everywhere.
Yes they are everywhere and nowhere.
That is why it is so important to have a trusted person do the looking for you.
I went through about 30 or so properties this week that anyone could buy through an agent on the net.They all met the 11 sec. solution.But they were not all good investments.
I,d say about 10% of what I looked at had potential.
The things you dont see on the net are the holes in the internal walls.The mouldy ceilings.The rain damaged ceilings.The wrotten carpets or wrotting floorboards.The stove from hell.The illegal addition to the back of the house.
I could go on and on.The whole thing you have to remember is that small fee you pay someone for a service can be very small compared to what you are up for if you go sight unseen through an unscrupulous agent.
Remember you only get what you pay for.
Russ.Working as a spotter or attempting to work as a spotter is very hard work.I have just spent the last four days on the road.Spent heaps on fuel.Slept in horrible beds.Racked up my phone bill.Put up with $##^%^$ RE agents and all to help someone out.
For those who have the time to do it yourself I say go for it.
But it is quite obvious that not everyone has the time,the inclination or maybe the brains to hunt down a good deal.
Although I do think that people should at least have a go before resorting to a buyers advocate.
At least they get an idea of how hard it can be.Judi
Yes I am on a pension.And this week I was able to secure a loan for a property.So things are looking up.
I found another good one this weekend so will push my luck with the bank on Tuesday.
Russ.[biggrin]I would be very sceptical about this.When there is a middle man there are always fees.
Why dont you just do it all yourself and then when things go wrong AS THEY USUALLY DO with these sort of companies you will at least know what you did.
When you deal with people who are offering too much for so little then you gotta start seeing red lights my friend.
IMHO leave it alone.Get off your butt and do it yourself.
Russ.What NO sharing.I think Geo must be old and alone.
No one else would spend that much time on here.
Hahahaha.
