Foundation, you raise some interesting points. BUT, you again revert to averages and overall results and statistics – with direct reference to Melbourne. I don’t see how the AVERAGE CPI adjusted growth rate of property in Melbourne over the last 33 years can have any impact on a single property in that market. It would mean absolutely nothing to…[Read more]

Hi Kirsten, and welcome – I am currently going through the purchasing process on my first place which I will initially live in to get the FHOG. These are some of the costs involved that I know of: (They will vary depending on a number of things – mainly purchase price)

1) Stamp duty – NIL (only if it is your first home purchase in NSW.) I…[Read more]

I know I am delving into what could be a very “edgy” subject here, and leaving myself open to a bit of criticism. I am, however, quite comfortable with this for a couple of reasons:

1) I don’t actually own any property yet, so I’ve got nothing to lose.
2) I am keen to learn, so I’d like to open myself up to the views of people who are already at…[Read more]

Thankyou for your interesting and varied responses. In a nutshell, what I was trying to get at was that IMO it shouldn’t matter too much if you buy in now, because (if you are a long-term investor) it’s unlikely that you are going to want to sell any recently purchased property in the next few years anyway. A few years during which property prices…[Read more]

Thank you Leila for your quick reply.

One thing I have noticed, however, is that, after a couple of days I have not received a “yes” or “no” common-sense response to my inquiry about my chances of gaining finance, or why a colleague (who is under the same employment arrangements) is able to do what he has done.

Perhaps I should change my profile…[Read more]

Hmmm, Thailand – if you’ve got enough money for the local constabulary, there are no Government Regualtions!!!

Age doesn’t negate effort – you can never be too young or too old.

You’ll only need contents insurance on the stuff that you own – if you are renting it out fully furnished, then I would say full contents insurance is a good idea.

Landlord insurance is like most other forms of insurance – it is not necessarily a legal requirement, but it’s a bloody good idea.

Age doesn’t negate effort – you can never be too…[Read more]

Didn’t you just hate it when you were a kid and you’d get a toy for Christmas that required batteries, but alas, no batteries to go with it. Then you’d play with it anyway, you’d get over it by the end of Christmas Day, probably break it on Boxing Day and then by the time the shops are open again and you can go and buy some batteries, the thing…[Read more]

More to the point please – it’s such a hole it echoes!!

Age doesn’t negate effort – you can never be too young or too old.

Hey Devil,
You could PM me with the area – after all, I live in a place called Gumly Gumly (yes, it’s out in the sticks) and I know for sure that there are a lot of pre-conceived ideas surrounding here. With 4000 people it has to be a step up for me!!!

Cheers,
Spank

Age doesn’t negate effort – you can never be too young or too old.

Can I suggest you persist with the AFR and get to learn those big words – they are straight out of the dictionary of the filthy rich. Even if you don’t understand everything the articles are saying, just familiarising yourself with the concepts might just put you in a better position one day.

Spank

Age doesn’t negate effort – you can never be…[Read more]

I reckon buy long term put options in listed property companies. Like you were saying aussie – the property “bubble” is more than likely going to pop at some stage in the next 5-7 years, (Probably before 5 even) and the sharemarket has to s@#! itself at some stage – it always does.

Just my thoughts, whaddya reckon?

Spank

Age doesn’t negate…[Read more]

I think it depends on how rich you want to be – the more you know about various types of investment, the higher the chance you’ll make a lot of money out of them. On the flipside, the less chance you’ll get burned. My father spent $11k on ONE futures trading seminar. And that wasn’t the most expensive one available!! I wouldn’t put a specific…[Read more]

I have done a little bit of labouring here and there for a builder/landscaper. It is an excellent way to learn, not only the nitty-gritty of using the equipment you’ll need, but also how to avoid being ripped off by tradespeople. Not only did I learn a hell of a lot, I got paid to do it. As they say, “more than one way to skin a…[Read more]

SKM – may I suggest you get a FT job somewhere, anywhere. Find the highest paid job you can get, but remember, it’s not what you are earning – it is how much you can save. You will undoubtedly have to make sacrifices. I am saving a massive proportion of my weekly income because I am still living at home, which I assume you are too. I say full-time…[Read more]

I would offer $100k too. If you have read Peter Spann’s latest book, he says how he has seen many properties sell for much less than they were passed in at auction for. Staple a deposit cheque to the offer as well – just tempts the vendor a little more. If they say no, who cares? You’ve got nothing to lose and everything to…[Read more]

crj, I don’t think lynchy was implying that country folk are slow – more to the point they are manipulating rental yields in an effort to sell their property to an out-of-town investor who thinks they are getting a cashflow +ive deal, when in fact the rent that specific property is getting is way over what it is really worth.

Age doesn’t negate…[Read more]

Originally posted by marsden:

What are your ideas on property investing in this atmosphere?

Since nobody picked up and answered this question for Marsden, I thought I’d throw my two cents in:
Buy nursing homes.

Age doesn’t negate effort – you can never be too young or too old.

I doubt it could be that successful – with this whole craze about +ive cashflow properties, the competition for them would drive the prices up further. If you are prepared to locate these properties yourself and invest your own time doing it, you can find such properties for free over the net. Yes such a concept would be handy, but straniero, I…[Read more]

In the back of most finance and investment books there is a “recommended reading” section. It lists a heap of other books that are good at covering this and similar topics.

While it doesn’t cover IP specifically, I must say that “The Richest Man in Babylon” by George S. Clason is a must read for anyone who is interested in wealth creation.

Age…[Read more]