15K is pretty cheap. I like the story that was in the Sydney Telegraph a few years ago, a bloke in downtown Broken Hills purchased a property after much negotiating to a level where after negotiations exchanged his first home buyers grant for the property. There must be a few cheap ones still out there

Spider

I’ve purchased three sight unseen. Find someone you trust and then SHOW ME THE FIGURES. The property is secondary.

Spider

Hey Karen

Go with your gut feeling

Spider

freedom-please
[/quote]

I have given three options on properties in Brisbane and all the future purchasers have thanked me a number of times for giving them the chance to purchase a property they had no hope of.

I don’t think we are here to debate moralistic issues.

Spider

Hi Karen,

Steve would be able to answer this better than me. However, I purchased property in Canberra and the market went very south (thanks John Howard). Anyway, I rationalised and stuck with them as the rent was high. Although I could have purchased them a lot cheaper a few years after buying them. The answer to your question is that I…[Read more]

The investors club and it’s spinoff WISE are there to make money. The bottom line is to do it yourself and cut out the middle man. The investors club and WISE work as time is a good healer. It’s probably better to pay someone a spotter’s fee than the huge paybacks investors club and Wise dealers get.

Hey, it’s all in Steve’s book

Spider

Any investor who purchases a rental property in the inner city here in Sydney is braver than me

Spider

Peterhen,

You’re right. Any savings is better than none at all, however, negative gearing is SLOW and stops your borrowing power. If people can not get the negative gearing syndrome out of their heads then try the Margaret Lomas philosophy. A new residence with high tax deductions

Spider

Jancrows,

Will the train help the real estate market up there? What’s the vacancy rate?

Thanks

Spider

Pisces 133,

Sorry hit the wrong button. Maybe I should drink less.

Spider, what happened ? What did you intend to say in your post ?

As it is you are only quoting without providing your comment !?

Pisces133

[/quote]

I tend to believe that in offering a low price, and the price is accepted, I am doing the vendor a favour. Low balling only really works in a deflated market BUT there are bargains in any market. Also, by buying low you can protect yourself if the market falls.

Spider

Woolloomooloo in Sydney. Near the Woolloomooloo Bay Hotel, It’s a great pub I just can’t afford to drink there.

Spider

5 unencumbered IP’s. Three lease options and I am renting here in Sydney.

Spider

Brent1,

Thanks for info. A good time to buy????

Spider

SI,

Even though I think there will be some more growth in Woden in the near future, I believe it is overpriced. real estate is so cyclical in Canberra you would be buying at the peak at the moment.

All comes to they who wait…..

Spider

Spider

Hi Sooshie,
I also read Alan Falkson’s book years ago and subscribed to his newsletter. Do you know what happened to him?????

Regards

Spider

quote:
Hi there,

Yes, I agree with you Muppet, if the book saves you thousands in the long run, then $30 is just a grain of salt.
SIS, reading is great, when you get time for it []
I now have 7 books…

[Read more]

Thanks Mel
– Spider

Steve,
Many Thanks. I just needed to get my head around the borrowing aspect of accumulation. You might be interested in the story of three short term wraps I have in Brisbane. In anticipation of the Brisbane market surging I purchased three properties in Brisbane 2 years ago (Caseldine, Narangba and Highgate Hill). I sought out 3 future buyers…[Read more]

The Investor’s club recommend borrowing against your property in retirement. Steve recommends against this in is book and I am in agreeance. You are borrowing against future (and unpredictable) capital gains.

Spider

Bear,

Please add me to your list of interested purchasers if you have any more +ve properties in the future. Unfortunately I don’t have the time to source these out and am willing to have someone do the initial work for a spotter’s fee. I can be contacted on 0414 403 413
Happy New Year

Thanks

Spider