Forum Replies Created
Hi,
Just quickly… the 11 Sec solution is not redundent as such.
It remains the basis of my investing approach, yet times have changed as as such the application of the theory must change too.
The revised formula that I work on does not focus solely on yield (as does the 11 Sec), but on the way that annual rent AND rental yield impact the value of properties.
If you can understand the relationship then, when you combine that with an understanding of the broader market, you can spot opportunities and secure a position where you’ll be well poised to capitalise on opportunities.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Sorry Helen,
I’m under huge strain to meet my book deadline. I’ll have to get back to you later in the month or early August.
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi Hector,
Thanks for your post and welcome to the community.
[8D]
OK – I’d use the deals that you find as a way to crunch the mnumbers so you become familiar with how to put a deal together and how one propety can return more or less than another by adding on an extra bedroom.
Just play around be be wary as the ‘net is a big time sucker.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi Mike,
Congrats – you win!
I’ll get Brent to contact you on Monday.
Cheers and thanks,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
time is running out…
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
Look for problems to solve as that is how you make postive cashflow outcomes.
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
All I know is that cleaning up an old site can be very expensive and time consuming. The petrol seeps from the tanks and contaminates the soil and ground water… very costly to fix.
Also, in recent times there has been very little margin in petrol. I suspect that there is much higher margin selling the chips and coke than there is in selling fuel.
So… the question is, what are you buying? The business (leasehold) or the freehold (property)?
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
Commerical property has worked well for me – and how I talk about it in the book is how it is for me in real life.
One quick tip – in commercial the quality of the tenant is even more important. Businesses can start and fail in the blink of an eye, so be sure to do a thorough due diligence over the purchase prior to signing.
I think Wright Books published a book about commerical property last year. That may be a useful resource..??..
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
Normally I just write off the debt to experience.
However, you can do one of two things:
1. Put the debt in the hands of a debt collector; or
2. Go through the legal system, obtain a tribunal order and have the sheriff seek to recoup the debt via cash, garnishee or by possession and sale of goods.The amount doesn’t seem worth option 2.
Also, did you not have a bond?
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
A couple of issues come to mind.
First, if it is a mortgagee sale then you may find that the lender decides to go to auction. There’s no law compelling them to do this, however it is seen as best practice to do so to ensure that a fair price is obtained for the property (and so the vendor in default has no recourse against the lender).
Second, it will be on public record how much the house previosuly sold for. You might have to py some dollars, but if you worked on the loan being a min of 80% of the purchase price then that could be a starting point.
If you do make a low offer, make it attractive with quick and no-fuss terms.
Regards,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
We have one book and one surprise product up for auction. Total value if bought through the shop is $330.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
Yeah, not sure what happened there for a while. Did a quick server reboot and hey preston… we’re back up!
Yes, we’ll end there end time by 2 hours to compensate.
Most odd… it must be raining in space again.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi,
Yes, you would be entitled to rent at the previous arrangement, however establishing what that arrangement was may prove tricky.
Also, without a condition report who’s to say what condition the property was in when the tenant moved in.
May be better to offer a cash incentive (or perhaps offering a discount on the rent owing??) for moving out in exchange for gettin gthe house back in a tidy condition.
Yes – you could up and down trying to enforce your legal rights, but my experience is that this does very little to work towards a speedy outcome.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Good on you Scott!
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
laugh out loud
yeah… make sense of that new puzzle and you deserve a medal!
Seriously… let’s go team and do something special for charity.
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Heck – $330 value for $30? Bargain!
Let’s say that the winner will be the highest closing bid at a time I’ve written down (to remain secret) which will occur at some point within the next 24 hours.
Don’t hold back now, this is for a good cause…
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
OK – so now we have a charity auction happening for a signed copy of book #2 when it comes out – heck, I’ll also throw in a new product that is about to be released soon too (worth $300) (secret squirrel). Let’s give the proceeds to the Smith Family.
Roll up, roll up… what’s my opening bid?
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
OK – I’ve just checked with the appeals board and someone with a wierd accent said “I’ll be back” if I don’t award two prizes.
So…. 2 books then…
One for Wrap Attack (the first person with the wrong correct answer) and the other for my accounting buddy Aussiemike (the first person with the correct incorrect) [weird].
Congrats.
Don’t let me forget now.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Sorry Mel… nice try, but no cigar.
Sadly, the judges decision on this matter is final – however appeals will be heard by the United Confederate of Past Mr & Ms Universe winners. [evo]
Cheers,
Steve
Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
so…. aside from a little bit of afternoon fun, the moral of the story is that capital appreciation must be over:
1. Purchase costs;
2. Holding costs;
3. Any negative cashflow; and
4. Inflationin order to provide a genuine profit.
(Apologies again about the slight mix up with the sales costs, the original question should have read 2.5% rather than 2.25%… [blush])
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
