Forum Replies Created
RUN
you will learn more learn from Books, magazines, seminars and people on this forum
without spending 45k…
Hi Guys
I live in the city and interested in coming along for a chat my fiance an I have 8 IPs (5 in Syd)
I know the basics
Hi Alchemisst,
the best cashflow idea I have come across lately is to buy a house with a self contained grannyflat fence it off from the house and rent the house and grannyflat out seperately…
A mate of mine is doing it its his niche, he buys places in west sydney, house with grannyflat for $300-330k does a quick
$15-20k reno if needed, rents the house for $300p/w then rents the grannyflat for $170p/w its cash pos from the get go
he has done 4 of these in the last yr..all the best
Hi Alchemisst, I checked out your link,
I would say a no way, I think you will have major problems financing a hotel room
the future growth will be limited if at all..
Im skeptical of any rental guarantee what if the management company goes bust ? wheres your guarantee then ?
is this hotel room freehold/strata titled ??? i get the feeling its just lease hold
I think most of the people on this forum will agree
I hope I didnt rain on your parade
Good on you Dwolfe I agree, there will be some hat eating in Sydney too lol
Have the doomsayers set a new date yet ???
we are in nearly in March 2010 no sign of slow down or property crash in Sydney yet, Im making more money than ever
Hi guys
I think its funny when people say they dont care about money yet these same people work 8-10hr a day, 5 – 6 days a week.. all for what ??
you guessed it… MONEY
Hi Shahabr
His latest one is the Revised edition of 0-130 properies in 3.5 yrs which was originally his first Book but has been updated extensivley, I would say its better than Margaret lomas books…
all the best
Hi Simmo
I would be gearing at least to 80% to avoid LMI, but if you were super agressive and wanted to expand your portfolio quickly then I would pay LMI and use 95-100% finance, obviously this depends on you situation and your servicablility
I actively leverage highly to increase my Cash on cash return… but it depends on what your overall goal and strategy is as to what risks you take
all the best
Hi everyone
this the same media that told us the sky was falling on property 12 months ago and the last 12 months have been the best growth ive had(12%+) http://www.smh.com.au/business/sydney-house-prices-surge-a-record-12-20091231-lkyl.html in Sydney compared to the 2 yrs prior and in that article the NAB predicts a 5% decline in property end of next yr (nearly 2yrs away)
big deal 5% is a minor correction compared to the growth most capital cities have had in the last yr and the future growth between now and end of next yr which is when the NAB predicts a market correction of 5%, guys you will still be up.some people on these forum threads wont buy any IPs and watch the market grow for the next 2 yrs as it has in the last yr potentially missing out on good growth so that when it drops by a lowsy 5% you guys can say I told you so
all the best
Im a sydney based investor my mrs and I aquired 3 IP in the last 12months in Sydney and this is the best yr we have had growth wise(we have 5 IP in syd and 3 in other states) I think ill do well this yr too
but I think growth will slow down end of this yr as Interest rates rise
all the best
thats another reason why I stick with capital cities you dont have the petty problems like the whole town turning on you ect
Hi kokamos
I highly recommend this website www.businessmall.com.au/ it has all of the above books and more its free postage within Australia I use it all the time..
Hey mister,
I got a couple of ideas for your situation
a weeks or 2 free rent to get a new tenant in,
try going into the local pub shout a round of drinks and tell your story so you can clear the air with the locals in the town and win them over to your side..
all the best
Hi Ben
depending on your borrowing capacity and your ability to service the debt,
I would set up a LOC on your PPOR you will have LMI on top of that as your LVR will be above 80%( but I see that as a small price to pay to leverage into more property) then using a 5% deposit (taken from the LOC)leverage into another property, if you have the surplus funds then reno and sell or rent as is and keep… I prefer to keep but it depends on your individual circumstances this is just my 2 cents and what I have been doing the last few yrs
all the best
ten
Hi Corey,
I would definately go to the bank first or call them and get a pre-approval for a loan
realestate agents take you more seriously instead of treating you like a tyre kicker
and you know how much you can spent which stops you wasting your time to, then you can focus on property in your price range
a pre approval still has some conditions attached so you would still put in your finance clause or if like me you could put in just one: Building inspection to purchasers satisfaction.. if you have any problems with finance you can walk away and say you werent satisfied with the building inspection..
an offer with one clause attached looks better than one with 3 or 4
Hi Jmielle, I went to look at your Youtube vid but it it says it has been removed by the user (yoursellf)
Hi Nigel,
Im interested to know what rental yields you are getting in San antonio ?
I did a bit of research on the net and have to say Im impressed with San antonio much larger population than some of the other cities peeps on these forums are looking at..
I think october til the new yr is the best time to buy as most people want to avoid making large expenditures around xmas time so you will have less competition when you buy
Hey guys I forgot to mention the RE agency I go through gets the 1st weeks rent for a new tenant
but for a lease renewal for an existing tenant they dont get anything
