Forum Replies Created
Hi, I’d also like to meet some other investors.
I have 7 properties in Logan and a family friend has 4 scattered between Ipswich and Acacia Ridge. It would be really great to meet you all please include me.
THANKS…… [biggrin]
My wifes maiden name was Knott.
When she worked for Woolworths years ago some of the staff there had a lot of fun calling her name over the load speaker because they would overly pronounce the “SS”
Miss Knott phone call.
I also worked at a Butchers Shop Saturday Mornings and the owners name was Randle, but everybody called him Randy for short. I thought nothing of it until someone came in and ask if he was Randy !
Thankyou everybody for your concerns and good advice.
Grossrealisation you hit the nail right on the head. Using my own solicitor as well is great advice. I’m on good talking terms with him and his staff. Most of them know me by sight and reconize my voice on the phone. I dought if he would charge $900 to check over things as he checks may contracts before I sign them for free.
Of corse he knows if I go ahead he has my bussiness and my recommendations.
Thanks again..Hello Mcubed82,
12 years ago my wife and I we’re in a simular possition as you are right now. We tried our hardest to pay our mortgage of as soon as possible, and now that I look back it wasn’t worth it. We did simular things as Anita, offten staying home on holidays, working extra hours all that sort of stuff.
I totaly agree with Simon. Perhaps you could pay your mortgage down aggressivly for three years and then use the equity you have acheived to start an investment portfolio. If your home is worth $300,000 it’s going to increase by $12,000 a year anyhow. Provided you weren’t riped off.[gossip]
Hello everbody,
I’ve been reading all the posts about the mentoring program and I would like to give you some food for thought.We all want to be a secure and comfortable when we eventually retire, and the first steps we take to acheive this are the most important ones.
Our journey from where we begin to where we want to be, can be compaired to a journey from Melbourne to Brisbane.We can first think about doing nothing and stay where we are..[sleep2]
Secondly we can take take the risky cheaper way and hitch-hike, we may get there or we may not. But at least it’s not going to cost much[weird]
Thirdly, we could drive our own vehicle there. This way we are in control and we will get there in a day or two. [bike2]
Or we could take a plane, it’s going to cost a bit more but we will be there in a couple of hours. This would seam to be the most logical way with very little worries and probably the saffest way by far. [wings]
p.s. I drove the car method, but when I look back I wish I had of flown
Hi,
Yeah good read ‘The Millionare Next Door’. I only got a little over half way through it because it just reinforced what I had alrady known.Where I grew up it was the Baker, Butcher and Greencrocer that owned all the shops and most of the land in the area. You would never see them in a suit and they drove utes and vans. Professional type people like Lawers, Real estate agents, Doctors all neaded to look succesful and therefore start to accumulate large amounts of bad debt.
Does any body remember the formula that Stanly & Thomas came up with to messure if you have accumulated enough net worth for your age in comparison to your income ??
We have two Magna’s 92 & 95 models both in fair condition and don’t expect to sell them for at least another five years.
Sorry Specifc I don’t mean to take the topic away from you, as it is an important one.
But I,m stuck on 24 posts and can’t get to 25.[curtain]
Yeah, I hope so ![drummer]
Hi me again, I want to answer this as well because I want to get more stars..
The Capital Gains and Tax Deductions start as soon as the contract becomes unconditional and your legally bound to it. Not the date the contract was signed.[strum]
Hi folks,
I installed a remote for a single roller door to a duplex for a total cost of $385 ( supply and installed ) I also insalled a 1 1/2 hp. air con for toal cost of $899. The previous owners used to get $140 a week rent, I’m getting $185.
In a nut shell, I pay $90.00 a year in interest for the improvements and getting back more than $2,000 in rent. [biggrin]
Yes Kay I agree with you.
“YOU don’t have to get it right, YOU just have to get it going”
These words are not mine, they were e-mailed to me from a friend. While I feel that these words can and should be applied to most of lifes challenges. Property investing however involes a lot of money and a lot of us have made all sorts of sacrafices to get to the point where we can start to invest.
It is because of this that people just starting out must first educate them selves and seek professional advice. But this need not take years to achieve. Three to six months of solid study should be enough to get going.
I’d like to share with you a story about a close family member of mine.
This gentleman who lives on his own has been saying for the last ten years that ” I’m going to travel back to ireland and visit all the places where I grew up and I might even visit New York as well”. I love this man, but I’m getting tired of him saying this. I’ve said to him a couple of times that he should just book a ticket and go and sort out your plans when you get there, if you don’t like it catch the next flight back. I say this because I know that if he went back to visit Ireland, we probably wouldn’t see him for months and no dought he would be the happiest he has been for some time.What do I think of the idea of buying a run down dairy farm ? That’s a tough question !
I’m picturing a paddock with no grass, old skinny boney cows, wind blown sheds that are ready to fall over, a dried up dam, and may be a rusty old car with weads growing through it.
I would put this type of investment right up there in the high risk category. There is a Dairy Farmers forum why not see what they say.Q. Do you prefer to buy investments in an erea that you know well, or buy purely based on the figures without even looking at the property.
Hi Batts,
Agents around the Logan area of Brisbane are 7 to 8%. I have several with one agent and I’m getting charge 7% commision, I pay $11 per inspection, $55 for lodging insurance claim.
When I only had the one properety with this agent I used to pay 8% and also other costs like, end of financial statements, renewal fee $33, Admin fee $5.50 per month, Tribunal fee $27.50. These have now been all waved.
Hope this helps [rolleyesanim]Hi Matt,
I just recently purchase my 7th. property with the help of a very good mortgage broker. My problem is not my LVR but my DSR. My debt servise ratio is over the top as my income is not huge. Not only that I didn’t have to pay any tax last year as I got all my $10,500 worth back.
So it also becomes very difficult to find cf props because no one gets any more tax back than what they’ve paid.I have to fing positive gear props if I’m to proceed further. Everybody complains that they can’t find any cf’s how would they then be able to fing positive geared ones. But it’s not over in a long shot it will only take for my rents to go up $10 may be $15 so that I may be able to continue my journey. The way I see it is the more properties one has the easier it becomes, eg. 10 properties a $5 increas in rent is more than enough for another purchase.
The other problem I have is my wife wants to leave her part time job.[weird]As Robert Kiyosaki says, great opportunities come around once a week, if your looking hard enough. Keep your DSR is 95% or under go for it, or wait for the next fantastic opportunity.[exhappy]
Yeah very nice words GPS.
Invest from the heart. That’s what I believe, provide your tenants with a nice clean place to live and also make sure they feel secure is the way.
and don’t forget there are lots of ways to messure success. Parenting, Freinds, family. Investing can swollow you up if forget what’s really important.[glum2]
Hello selling, I’m in Brisbanes south side and I’m hunting around for some properties for my father inlaw,
I already have 6 ip’s but the banks have no more for now for me.
Could you please send me a private message as to there where abouts and price, and are they listed with an agent yet. I assume this is why you have told us. Also I know the Logan area like the back of my hand.Thanks, I look forward to hearing from you.
No not under valued. I see a lot of positive cash props in areas where people have to have acccomadation but don’t intend to live there for to long. eg. Mining towns, industrail areas, and also the cheaper areas on the outskirts of cities where people may move there from other states until they find a place they want to live permanently.
My Q.Do you put on your best clothes when you have to visit a tenant. I read in a mag that this fellow always wears a suit and tie.
Very good piont Dazzling, I’m going to check it all over again. Nothing is simple these days.
Barclay look at the debt owing to you and then they determine by the evedence you have whether to procceed or not. They then buy the debt of you and it then becomes their problem.
But in carlin case if she thinks about going down this road of debt collectors, it may only cost a percentage of debt collector.I still have landlords insurance because there’s no public liability in my lot areas under the body corporates insurance.
ah, I wish my lotto numbers would come up.
Hi carlin, a Debt collector can do it all for you. You will have to pay them a small fee how ever.
I don’t understand why we as investors feel that we have to insure our tenants, it should be the tenants insureing them selves in case they can’t meet the obligations or damage some ones property. I pay a debt collector an annual fee and they take care of everthing. They can retrieve all money owing for loss of rent, damage, cleaning and can take care of evictions as well.
The company that I use is barclay mis.They have to types of plans one is only $44.00 annualy and the other $198.00.
The $198 plan the company pays you all money owing to you immediately, and then they retrieve the money for them selves. The other cheaper plan you get all your money back when they do. With both plans you don’t pay any Excess and it doesn’t make any difference how many holes in the walls, cleaning, rubish removal or loss of rent, ect. The tenant will be and should be held accountable for every cent.We all should be makeing our tenants accountable.[angry2]
