Forum Replies Created
I am with Christine on this one..
Good on ya Sooshie !! (don’t be embarassed, you deserve the praise)
You know, if we all help each other out, we will have an awesome community of like minded and succesful friends to share with.
cheerio from the Bruce [
]Angie
the flip side of this is that (depending entirely on your numbers) you may well make a better % cash on cash return with less money in the deal. e.g. loan at 90% LVR
So better return, but, trade off is more exposure to interest rate changes as you have borrowed more from the bank.
Basically you need to do your sums and think over your strategy/s to achieve the best result for YOU.
cheerio
the Bruce [
]Don’t forget to smell the flowers [
]Now what is a wrap ?
Sorry, it’s Friday humour getting to me….. !
AD Congratulations !!! I remember sooooo clearly the day we finally settled our first properties had people moving in, solved what seemed to be insurmountable problems and finally sat down and celebrated by going out and having a glass of nice champers together.
GoodOnYaMaaaate [
]the Bruce
Hi All
Denise and I bought Steve’s “Classified Ad Secrets’. After reading and digesting it we were planning to write an ad but just ran out of time. Denise’s solution was to use the ad in Steve’s product word for word. [
]We ran in 2 regional papers and got well over 60 calls over the weekend.
The product has some really great tips about classified ad writing and I feel that it is worth its’ price many, many times over.
Of course if you are already a super ad writer you can do it yourself.
Bruce
Hi Tara (and everyone else [
])good question to ask I must say !
I wholeheartedly agree with the other great advice given here. Do the numbers three or four different ways, add in all the costs you can possibly think of, add in a few extra % for contingencies and tehn see how it stacks up.
Steve & Dave’s 11 Second Solution is a great filter.
i.e. (“weekly rental”/2) x 1,000 = “maximum purchase price”This does not always produce cash flow positive properties but it certainly filters out the ones that aren’t.
As Jason so rightly said there are many deals around. You just need to spend time to learn to spot them (and funnily enough) having spent the time to prepare, the universe rewards you by sending deals your way when you are ready for them…..
We try to buy 12% yield plus, BUT, still very carefully analyse each situation as the real return is a function of so many paramters. Recently we found one at 10% yield (about what the 11sec solution gives) and it had a great return due to low rates and other costs.
cheerio
Bruce
Sooshie & Regina
WOW, you folks have some amazing stories. Thankyou both so much for sharing them with all of us !
I am really at a loss as to what to say about the experiences you both had. What about the scammers that Soosh has dealt with?! Mmmmm, after reading Regina’s post about how she was stiched up by the sly salespeople I just sat staring at the screen at a loss for words…..
It is awesome that you have “come back” from that situation and are now on the road to independance. You are obviously a do-er and a stayer. [
]For what my words are worth, I have to say that you have both really, really impressed me with your keeping focused even after you have being dragged down.
Good on you both, you WILL be succesfull.
Bruce
Hey Sooshie !
Congratulations (and I reckon that I am echoing the sentiments of all of us [
]). Good on you for hanging in there and DOING the work after you found out the information !!cheerio
Bruce
Tim
our experience is that you DO sign your offer. Otherwise it is not legally binding and is thus Q.E.D. not an offer.
Advice we have received is that: to be binding, an agreement for the sale of land (with/without improvements such as a house) must be reduced to writing.
If you were the vendor and someone gave you an un-signed contract to reply to, would you really think that they were serious ??
In terms of using a letter of offer, you still have to sign it, so I guess that I don’t see the problem here. Apparently,a letter of offer can be binding if it contains all of the elements of a contract.
You must ask your solicitor to clarify all of these points for you.
just my 11c worth (10c + GST) [
]cheerio, Bruce
(ps: Q.E.D. is some really cool thing in Latin taht often comes up at the end of complicated maths proofs that I have never been able to remember. I just think “Quite Easily Done” [
])Sooshie
Ta for info and time you spent to follow up.
What a scam !!! (makes me angry when I hear stuff like this [
!])Bruce
Sooshie_____________________
Good on ya maaaaate; I assume that it is still politically correct to say that to a lady ? [
]Anyway, excellent for keeping it together in the face of adversity and pushing along. I will be very interested to hear the end result.
Building____________________
Hey funky name, is it an old family one [] ?We have tried to get bank vals revealed to us and have often been told no, BUT, occasionally have been told yes by particular lenders or managers who actually can access the data.
Another option that you have (we often use this) is to :
1) Find out who the lender’s panel valuers are
2) Arrange with the lender that you will pay for the valuation out of your own pocket
3) Get the valuer to do her/his stuff and then present to bank.
4) If you don’t like the result you can always discuss the outcome with the valuer yourself prior to submitting to lender; Alternatively, even hire a differnt panel valuer.cheerio
Bruce (aka the Bruce, aka the wild man from tassie)
“Life is a Dance”
Carolynne
1) It is your game, you make the rules [
]2) Having said that, think about this:
$30/wk * 52 = $1,560 / yr per house
If you have 10 you now have a passive pre-tax income of $15,600 / annum.
If you have 20 you now have a passive pre-tax income of $31,200 / annum.And if, as you say, you are almost no money down to establish them. So, that would mean that you are capable of setting up a passive income stream of $30,000 plus for almost nothing.
Mmmmmm sounds good to me <grin>
3) This is really the principle behind wrapping. You make at least a small profit on each deal that will repeat for up to 25 years. if you do your sums right, even if your clients buy you out early you will still make a good return.
Howzat ???
Bruce
ps: keep the questions coming !! [
]Felicity & Terry
what a sensational concept !
That is a great one to have in the bag of tricks. Thankyou both very much for explaining it ! [
]BTW I understand that at certain times of the economic clock that investors use this asset class to benefit. Can anyone fill in the blanks here ??
cheers
the Bruce
“Life is a Dance”
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