Hi L,

The first four weeks are self-study rather than facilitated.

In terms of feedback… I recently put a video together which may be of interested. You can watch it for free at:

https://www.propertyinvesting.com/results2008prereg2

Cheers,

Hi Shelley,

I suggest you read the books as written by people you want to emulate. Everyone is different, and there are many ways to make money from property. No one is right or wrong.

My advice is to think about 4 points:

1. Get a vision for what you want from your property. No point being a guru with 1000 properties if you go broke!

2. Make a plan. How much money and by when.

3. Choose a strategy: Which property money making method meets your time, money, skill and risk profile.

4. Take action. Thinking about money won't make you rich. You need to keep active.

This said, if you are serious about stepping up then check out the RESULTS mentoring program https://www.propertyinvesting.com/results2008prereg2

All the best,

Well, you could approach the vendor's and ask them to give notice during the settlement period. You may have to indemnify them against any lost rent though.

Otherwise, the day you settle issue the notice to vacate.

Cheers,

Hi,

Thanks for your generous comments about the book.

Sadly, the days of going out and buying a positively geared property are now generally over. This is because prices have risen in excess of rents, and costs of owning property (in particular interest rates) have risen too.

Does this mean we should give up and look to other wealth creation opportunities? I don't think so, not yet.

The lesson here is that we need to evolve our investing as the market changes. My recommendation is that people now look to create positive cashflow rather than simply buy it. There are a number of means of making this happen. However, my preferred model, which will be fully outlined at the upcoming conference, is to take small sums of money, multiply them into an investing bank, and then use those funds to buy good quality commercial property that provides an income stream.

For example, in your case you could take that $15k and try to turn it into (say) $100k within two years (doing quick-turn deals), and then use that $100k to buy a $350,000 commercial property that will provide positive cashflow.

Well done on asking questions. Keep looking for answers!

Hi,

Welcome to the forum and thanks for you post.

You can certainly sell your right to the finished product, and this is an everyday transaction.  That is, you are not selling the property so much as the right to the property once it is finished.

Some things to be aware of though are:

* Is there a rental guarantee? If so, how much and what are the fineprint clauses?

* Leave the lowest deposit possible. 10% is not etched in stone and the less down the better as you are essentially getting a 0% return on that money in the meantime.

* Get some idea of what the body corp costs will be once finished – it may be more than you expect.

* Does it come furnished? If so, do you like the furniture and are you getting a good deal?

* How many carparks does it come with? My guess is only one, but find out. If you can get more than one then it may be worth the extra cost as they are scarce and will be a key selling feature when you decide to sell.

* I hope the capital gain eventuates. In years past it has not and people have been left disappointed.

* Be aware that the property may not be easy to sell before it is finished as there is a limited market of potential buyers. If many people try to sell then it is possible the value will drop below what you paid for it.

* Final point – some financiers are very particular about what they will and won't lend for in terms of inner city apartments. Do you research so you are sure you will get a loan – visit a bank or mortgage broker to check out your options.

Hope this has helped. Without wanting to sound opportunistic, you sound like the ideal sort of person who would benefit from coming to the upcoming 3 day conference. Check out the link below.

All the best,

Hi,

It certainly can – on at least two fronts. In answering I have assumed that it is an easement in favour of water/sewerage.

Generally, an easement is a right to access a property to the favour of another person. Common easements include access for power, water, sewerage, or for access to another property.

To answer your question then…

1. An water easement cannot usually have a permanent sturcture built on top of it. About the limit is a carport (as opposed to a garage) or a garden shed. If access is required then you will need to make it possible at your cost.

2. More of an issue though is that for subdivision to go ahead you will need to ensure there are services available to the property. Accordingly, you may need to chop up the block so that there access to the easement from both titles. This may mean that you extend the existing easement.

I recommend that you call or visit the local water authority and discuss this matter directly with them.

Some quick research revealed (albeit not from Qld).

Hope it goes well for you.

Hi,

This might be a tough ask!  International tax is a tricky area, and if you want UK expertise then perhaps your best bet is one of the larger accounting firms. You may pay a lot, but if it helps fill in the gaps then it will be worth it.

He's not in Perth, but my accountant Mark Unwin has knowledge of the tax law as it pertains to offshore investing (for Aussie tax residents). He has needed to become keenly aware of these issues from my own OS investing. His contact number is 03 9854 6317

Cheers,

Hi,

Hope it all goes well with Nick.

At the moment I don't get to make it up to the NT, only as far as Brisbane, which I know is still a long, long way away.

Cheers,

– Steve

Hi Ray83,

Welcome to the forum and thanks for making a post.

Before thinking about another property, I'd encourage you to get a better handle on how your apartment is travelling. That is, your ability to handle more property will depend on how well you management your money and investment, and it seems like that could be something you could sharpen a little.

For example, $260 p/w represents nearly 25% of your pre-tax salary. Could you afford another IP at the same negative return?

Specifically, I would:

1. Contact a r/e agent to get an appraisal of the value
2. Understand my loan repayment obligations. Perhaps you could refinance for a cheaper rate and save some money
3. Create a plan, and then relate your current property and also future purchases to it

In terms of a 2nd, 3rd etc IP, it seems you have a long-term growth asset, so now you may like to do a shorter term quick-cash deal or else look for an investment that delivers a cashflow return.

All the best,

Hi,

Welcome to the forum! You might be our youngest member… well done!

Some additional thoughts for you:

1. Play Kiyosaki's games: Cashflow & Cashflow For Kids

2. Read investment and money related books – become a regular at your local library. Kiyosaki's Rich Dad Poor Dad and Clason's Richest Man In Babylon are a great places to start.

3. Start understanding how money works, and the best way to do this is to get a part-time job and gain an appreciation of how hard it is to get ahead by working. That way you'll become hungry for what investing can do for you.

4. If you want to come to seminars, write to those running them explaining your age, enthusiasm and situation. You might be able to swing a free or cheap ticket. It's worth a try.

5. Keep asking questions! It's the best way to learn.

All the best,