Forum Replies Created
Gross it doesn’t seem too many people are interested in your post there has not been one response to you other than your own in 21 days – why bother.
D
Firstly – Doublek,
I think with the both of you working as hard as possible now and reducing debt which increases equity you will be surprised just how quickly you will go.
Look for bargins even in your own area where you should know the cost per square meter of every property, ie; become an expert in your area first then use the same techniques in other suburbs.
Yes why not keep your own and buy another, even when you and your partner decide to have a family in a few years you still have another two years before the little people start walking and you need a house or town house.
It doesn’t matter when you start but it does matter that you have started, congratulations you are on the way.
Dear mcdeyess – yep i’m with you.
Also keen to know where in QLD you think is on the move in the future, is Toowoomba a risk because of the water problems or is this a buy signal for positive cash flow???
Dear Doublek,
I think buying your first property and living in a unit is very smart.
I take it you are married or are planning to.
How far away do you want to start a family?
Houses are very expensive to maintain. If you live in a unit the both of you could work an extra job on Saturday and that equates to 2 extra income days per week or 8 per month or 96 extra income days per year or 19.2 extra income weeks per year = $xxxxxx = very smart.
Now if you used this extra income to pay into your mortage two things will happen; 1 you will save bucket loads of interest and reduce your debt very quickly and 2 use the extra equity to purchase more property.
I think young people starting off with a house are CRAZY because they will be working on the house on Saturday mowing grass and gardening, keeping up appearences while the both of you will be twice the distance in front of them because while they are working and spending on the house you are working and earning an income to become financially independant.
Poor people work hard – smart people work smarter …
D
I can give u access to someunbelievableinformation on simultaneous settlementsand put and call purchasing, so ask me how
D
There is also a new site under construction which offers free diy ebooks at www,apin.com.au go check it out …
D
Sorry Sarah but your numbers don’t add up.
You have 7k in the bank live at home on 66k per year and have a 28k debt
Come on Sarah what is your real problem- do the maths!!!!
D
Exactly Simon and time heals all wounds, then u r a guru to the younger people…
D
ThanksSimon great post,
For all the people who r reading this post i want to ask you a question which i hope u r brave enough to answer,now don’t be shy.
Forget about how many properties u want to own i want to ask this one question – what is your target.
Think for just one moment b4 u answer, and remember it takes 4millionto generate 2,000 a weekin income.
what or how much are you targeting for – lets see how many respond now ,or how many don’t.
D
Good points but lets not forget;
Credit card debt is now 36billion WHY?
86% of “interest free store accounts” don’t get paid out and then people are charged upwards of 27% interest WHY?
Financial basics is what is missing in most cases “if you can’t aford to pay cash don’t buy it.
If you are a PAYG you should not have a car lease – the cost of leasing a car could pay off an investment property.
D
I am also apart of a new online webucation site which has the front page up and the content going in over the next 4 weeks go check it out,
D
First step is to work out how much you need.
You need a cryitical mass of 4,000,000 (4 million dollars) to generate an income of 2,000.00 per week.
D
Dear RJ – this is not a sky is falling post,
Property investing is NOT a get rich quick strategy as any expert or long term investor will tell you. Unfortunately there have been so many GURUS who sprout how to do it but the truth is there are no NEW ways to get rich quick in property and in fact if you stuff up you could lose everything you have.
Yes from time to time we hear some one who got lucky but i BET YOU that Steve Mcknight got it wrong plenty of times on his way to becoming a successful and savy investor that he is today.
I believe it is important to let all the newcomers and the people who want to know how to get started to be careful when investing, don’t you?
The truth is 11,000 people per year are losing their homes in NSW along because they got caught – Australia has a 36billion dollar credit card problem and the list goes on JB and yes IMHO the market has not bottomed yet.
In saying that i believe there are some unbelievable deals out there IF YOU KNOW how to find them, thats the secret!! – how to find them.
In my job as a property researcher i analyse many potential deals and we take into account the “chicken little principle” because we don’t want to lose.
The best money is made when you buy for the lowest price and sell with precission and timing, mixed in with a little luck.
the crytical point here is to ask youself one question today when buying property – is this property investment an ASSET or will it become a LIABALITY
D
If u want to get top results when renting or selling don’t go cheap go for quality,
IMHO – Dulux
D
SIMPLE, I agree with you however it depends in Brisbane where you are talking about.
Ipswich Shire, Coomera Shire and Logan Shire rents have droped due to the massive amount of investor stock being released onto the market at the same time.
Collingwood park sales of new homes are at about $350,000.00 but valuations in these new suburbs are down to $315,000.00 due to a lack of RP Data sales results.
House prices will increase in QLD due to the new water preservation regs and enviromental rules which call for tanks and heat pump hot water systems and storm water detention pits. Sydney has already experienced this and the builders are about to raise their prices by about 20% across the board which will drive prices even further.
There are many facts to realestate to make profits.
D
Hi all,
I posted this thread not to be negative but to be more informative. Many times i see or hear about people wanting to get instant results in property.
We have just come through a massive boom and a some what correction. With that said Perth is defying all odds and QLD is still very strong in selected areas around Ipswich and Logan. Also a company we provide research for is doing a 1200 lot subdivision in Mackay “Blacks Beach” and have sold over 600 so far with strong enquirey to complete the remainder lots.
so it’s not all gloom as markets are moving strongly, it is being in the right place at the right time to take advantage of growth and capitol gains.
The question for many savy new and experienced investors with another interest rate rise coming is “when is the right time to pounce?”
D
Told you so … where are the experts now?
Read the articles lately (today) all the experts that said property was about to bounce back are hiding under ground getting ready to put another twist on their previous statements.
OK for all those people that say rents will increase lets have your vote, because i think that the rental market could get worse as it did in 91/94 … lets see shall we.
D
as for the general public being worried about interest rate rise for me thats good, as it
Gives me less competion.Origionally posted by Grossrealisation
Gross i am concerned you posted this statement, because for a big time developer like you i would be most concerned with how the general public feel about interest rate rises and investing. If you are developing a project you need to be cautious and sensitave to how the market is investing as this will effect your bottom line profits.
Your previous post of”welcome to my world” is not consistant to your post psychology IMHO – big builders and banks require superior market sales stratagies to be able to sell project investments and it all comes back to confidence in the market place.
It’s ok to pick up a bargin especially from some one who is hurting, however as experienced investors know all too well, grossrealisation is achieved when we sell, thats what profits are all about.
I believe it’s the same in the stock market, if a stock falls out of favor or the market changes then its value decreases, it is just that simple. You can argue that if you buy at the bottom of the market you will reap the rewards when the market comes back … the two problems there are 1. Can you hold on that long if you are a small to medium investor and 2. what are your holding costs to hold on for that period of time.
Its all well and good to get people excited with profits but it is important to make people aware of the down sides when some thing goes wrong – which they can.
GMH has some sound opinions which i must agree with, i love property and now more than the last few years requires better research to pick the winners.
D
Hi Foxy!!
How much do you need to move forward
What is the security ie; 1st mortgage
Can you give personal gurantees
D
I’m with GMH on this one,
Lets look at some of the problems,
Renos; this is a great strategy and is not new, however there must be a BUYER willing to pay what u want at the end of the project, so you must either purchase extreemly well or produce some amazing wow factor.
DIY developer; this is a favoutite strategy of Metropole however i hear through reading articles that many of their customers are have cash flow issues. I believe that Metropole do a great jub however this is the market when all the theories are put to the test.
If the mood in the MARKET is of fear then good luck, the people to prosper are the savy who have been through this cycle before and have experience. Credit card debt has hit a new high, petrol prices will go higher and interest rates will get to 8% very soon.
On the positive side if you have no credit card debt, a good job, no car leases, and eqiuty in assets then the bargins are coming for sure.. Perth is at its peak and QLD is softening and Sydney is challenging from many angles.
Peter Costello was very careful what he said last night on TV but the 4 concerning factors in the market is 1. credit card and interest free debt 2. petrol prices 3. 80% + borrowings on PPOR and 4. rising interest rates.
Go and buy the new book out 101 ways to get rich quicker – number 101 is “heed the roar of the distant drumbs” work it out for yourself, very interesting times ahead good and bad.
D
Yes Paul i agree,
On another note a very respected mentor of mine who has been in the game for many years (he is 65) believes in his opinion the we won’t see another boom in Australia for 10/15 years but rather steady growth cycles instead.
D
