Hi everyone,
This is a very interesting discussion. My two cents worth is this. Yes, the rental market is declining (although not everywhere) BUT!! When interest rates rise and people who are on the borderline with their finances have to sell, there will be an increase in demands for rentals. The key to everybody’s strategy, no matter what your…[Read more]

Hi Fudge111,

I’d ;ile to have a look as well.

[email protected]

Thanks.

Hi still_in_school (Sorry, don’t know your name[8D])

Would you mind e-mailing me a copy of your spreadsheet? steveodatwestnet.com.au

Thanks

P.S. I put at instead of @ to avoid spammers who run software programs over web sites to get e-mail addresses.

I can’t believe that ‘Animal House’ with John Belushi didn’t get a mention yrt. Then again, I was 17 at the time. Maybe I’d better take another look if it’s still around[]

Hi Andrew,
There are definitely 11 sec rule properties out there. It just takes alot of work, and as others have said, don’t limit yourself to your local area.

Also, don’t ignore something if it is outside the rule. I just looked at 2 units for $140,000 ($70,000 each) and rented for $110 per week each. I found out tenants in both units had been…[Read more]

Yes, you can set up your own super fund. It is relatively easy and can be done with the help of your accountant. I don’t think that money you personally put in is fully tax deductible, but rather, it is taxed at a lower rate. Does anybody else out there know exactly?? Your accountant can set you straight with that though.

Regards,
Steve

Craig,

I had my accountant halp set up mine. I suggest that you talk to your accountant who should be able to get things under way, or at least point you in the right direction.

Steve.

Thanks everyone. This has helped alot. Getting back to the original reason for this post, one of the PM’s I contacted charges 9% letting fee of rent every time they renew the lease. EVEN IF IT’S THE SAME TENANT!!

I.E. Lease renewal for 6 months works out to the following. 26 weeks times $200 rent times 9% equals $468.00!!

Needless to say, I…[Read more]

Hi Jason,

Yes, it can be done and is a simple process. I have just done the same thing. Just decide which one you want to keep, then ring the other two to send out the paperwork to roll funds into your preferred super policy.

If you are seriously looking at running your own investment portfolio, it is also worth talkin to your accountant about…[Read more]

As I have found out since joining this forum, they are out there. It’s just a matter of a lot of time and effort and you will find them (I think that maybe this applies to anything worth having[8D]).
My family formed a syndicate two weeks ago and we have offers in on six properties that meet the 11 sec rule []

Cheers

This is probably a stupid question, but what do you use a quantity surveyor for??

Basically it is a guideline for buying positive geared property and works like this.

Divide the weekly rent by 2 and then multiply by 1000. The figure that you come up wuth is the maximum that you should pay for a property and gives you a 10.4% return P.A. on purchase price.

Example:
Rent = $100/2 = $50
$50×1000 = $50000 max pusrchase…[Read more]

Thanks for asking the question Jay, the replies have given me something to think about and has changed my mind on a potential deal. It is a unit for $60000 with weekly rent of $120. It is ten hours away by car and I was thinking of buying site unseen, (although I had a friend in the town, and I did see a digital photo) I think maybe I might just…[Read more]

How many other West Aussies out there?? Let’s see if we can generate enough interest to get Steve over here[8D]

https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=4501

Regards,
Steve O’D

Thanks for the reply Steve. You mentioned that it alldepends on allocated resources as to how well we will go. As a group we have made a commitment, to have three people (myself, my son who works for me and my dad who is retired) actively working on sourcing new properties. An equivalent of one person full time is the goal. The financial…[Read more]

Thanks for the encouragement Leigh

Steve, your book is titled 0-130 in 3.5 but here you are saying to get just two in the first year. I am not having a go, I’m new to forum, looking to start investing and your advice seems at odds with your book. Looking forward to your response.
Steve.

Where do we find this extra chapter? I would like to read it myself

The seminars sound great. Except for those of us in WA [] Steve, are you planning on coming to WA in the near future. Would love to go to one of your seminars if you do,
Thanks,
Steve (also) []