Forum Replies Created
I would look to spend less than 100k. Try for 3-4 times the amount you invest. Dont bother with anything other than superficial measures eg carpet, paint, curtains, garden etc.
Regards,
SiI would invest the money in a smaller number of higher class properties. that way you can get used to managing them, and then later springboard into more.
Regards,
SiIm reading Margaret Lomas’ most recent book. It has some helpful hints but is otherwise pretty standard issue. Does anyone else feel like they could churn out one of these books just through reading enough of the others? I have no practical experience is real estate yet but perhaps the blurb could boast ‘has read a lot of other real estate books’.
Regards SiI think seminars are generally worthwhile. while $8000 is a lot of money, the chance to learn from a multi-millionaire is extremely valuable and perhaps just one snippet of information from a seminar like that would make a world of difference. Having said all that, I’d much rather put that money into a property or shares. Often, when the seminar finishes so do the feelings of invincibility.
Regards,
SiAnother good one of his is ‘Extraordinary profits from ordinary realestate’. It gives a whole lot of cases where people made good returns from property.
Regards,
SiJay,
The differences you noted are mostly correct. Not all MLM’s require you to entice others to join to make money. In fact if that is the only manner to make money then it is not MLM, but a pyramid scheme. True however that when you start MLM income is not guaranteed. None of these objections had anything to do with my point though.
My point is that the pyramid structure is common to any large business and is therefore an unreasonable objection to MLMs. The fact that income is not guaranteed is beside the point, MLMs are businesses not jobs. I don’t have an interest in protecting MLMs but I don’t like to see people unfairly criticise a legitimate business model, most of the time because they joined an MLM once, did no work, and didn’t become a millionaire overnight and are now bitter about that.I think everyone is misreading most MLM companies. What most people dont realise is that nearly every company around is a pyramid. A supermarket for example, lots of people stacking the shelves, manning the tills etc, one owner at the top reaping the benefits. MLM’s offer every shelf stacker the chance to reap more of the companies profits if they work hard. MLM’s are legitimate business models, and I personally have met many people who have done well out of them and contributed something worthwhile in the process. The main complaints I hear are from people promised they would be millionaires overnight just for joining, and who no doubt were disappointed. Real estate is just as full of deceitful people. For those who have drive, passion and persistence, the right MLM is gold.
Ive read several of dolf de roos’ books. the one about ‘101 ways to massively increase the value of your property’ is worthwhile.
Regards,
SiHi all,
I believe that what kindred said in her first post was the best advice. That is, if you analyse a business opportunity and think it has something to offer to others, and is otherwise sound, then forget what others are doing, wether succeeding or failing, and put your head down and go for it. If you render a fortune of service to others, they will render a financial fortune to you. Lack of dedication will let you down anywhere, be it MLM, property or otherwise.
Kind regards,
SiMany thanks Spider! Your suggestions are much appreciated.
Regards,
SiHi SiS,
I wholeheartedly agree that the CocR or IRR are whats important, but a 23% yield with handsome capital gains is hard to sniff at! In this particular example I believe my friend was getting something in the vacinity of 100% CoCR (~$4k down with net cashflow of a similar figure), excluding any capital gains.
Regards,
SiHi Lazyboy,
I am considering investing in NZ as I will be moving there in the not so distant future. Any recommendations for positive cashflow areas?Regards,
SiIt’s true 15% houses are hard to find but it is obviously worth the hunt. As many of you may know Dolf de Roos advocates the 100:10:3:1 rule. See 100, offer on 10, be accepted by 3, buy 1! I have a friend who invested in Invercargill in NZ; he received a 23% yield, no vacancy, and some of the highest capital gains in NZ over recent years!
regards,
Si“My youngest has allergies bad,the worst to pine trees,which surrounds Ellenbrook.So I have to move for her health.”
Just as an aside, you can get desensitized for allergies. If this is the only reason for your move, you may wish to consult your doctor about this possibility. Desensitization can provide a ‘cure’ for allergies. You could then use your equity to invest solely for financial reasons.
Regards,
Si
Hi All,
An easy rule to calculate mentally for a 15.6% yield is divide rent by 3, multiply by 1000 to get the house price.
These houses are out there. so this may help with easy calculation.
Regards,
SiHi Lynchy,
I’ve been keeping a close watch on the NZ property market for the last couple of years and it offers some prime investing. Key areas are Auckland, Queenstown and other tourist hotspots such as Nelson and Wanaka. Auckland has large population growth so capital gains are excellent and NZ has no capital gains tax to boot! The timing is good as NZ is currently in the boom that OZ appears to be just coming out of.
King regards,
Si
