Forum Replies Created
Hi Dimichie Phil here, this is old news mate and Sydney has a way to go before it hits the bottom.
I’m with Robert though, can you do a post with an opportunity to make money.
There are many new and young people here that need inspiration and hope for the future.
Dmichie, i am making good profits in QLD and WA, so who cares about a Sydney market, people r leaving SYD in droves.
Remember the “chicken little storey” and “hamburger sales man storey” summary, people who focus on bad news will get bad news.
resiwealth
Good post …
Additional points,
How many people out there actually have the abality to complete a reno makeover.
If u don’t know the fundermentals of building u should never attempt to a reno makeover.
What about employing a licienced project manager.
In this market the best way to profit in a reno is to strip all plants and trees off the block, do a complete replant and a lick of paint. Revalue rent the property out and hold for the long term.
resiwealth
Nahna,
1. Is this site zoned for your idea.
2. Have you done the numbers with a builder.
3. Have you contacted an architect.
4. Do you have any prior experience.
5. Can you cash flow a construction loan.
6. Are there any restrictions on the block.
7. The bank will need a cash flow analaysis.
8. What about a security estate complex.
9. What about a two storey walk up development.
10. What about townhouses.
11. Have u done an area over view.resiwealth
Robert, mate, my point exactly … welcome to my world, i love this forum site BUT it needs tweeking to prevent repeating posts.
resiwealth
Hi Peli does this link work for you i couldn’t get it to.
Last night i met with one of my QLD scouts in Double Bay. Yes the future is looking good for this investment sector for many reasons.
I develop land and build new properties including duplexes. I believe that if you are just starting out and do some good home work you will make great profits over the next 3 – 5 years there, IMHO
resiwealth
OK Rob i’m convinced, I am going to attend a few meetings for myself.
You have raised many good points here which need clarifing, as i said before i liked the concept but is it deceptive??
resiwealth
Thanks 4 the feed back, i think that the problem is me more than anything else with repeating questions.
So what about the idea of formatting the site differently. Like a getting started section, a wrap area etc etc …
resi
Christobell … did the “support manager” disclose the commission to you, and what were the total commissions paid to the club from your settlement dispersements.
Robert, yes lifts r a major problem but also meriton has been under pressure form the Fire Control Council reguralators.
I would not like to pay for the painting in 10 years when some of these buildings need a fresh up. I personally like exposed brick for lower maintainence expenses over time.
resi
So admin how about sending out a POLICY to all members and suggestions on how to make better use of this forum.
Good business needs good direction from the top.
It seems that reading many posts here recently that people are getting frustrated for a variety of reasons.
you will not fix a problem unless u address it correctly, it will not go away, its like bringing up kids – do u have any?.
It seems to me that now is the time other wise people will go shopping else where, or may be i am totally wrong and u r smarter than me.
resiwealth
I think that Michael and Richmond have made my point well in relation to the post.
If people could stick to the post topic and not be diverted into self importance replies it would make to more interesting dialog.
Sometimes i read threads that have gone totally sideways and wonder about the mentality of the people responding. Maybe they r trying to strike up responses to increase their mumbers.
I havn’t used ss but i may start to try. I think that this site has developed quite a valuable following however, the deminishing quality with out attention could have a negative effect in the future.
resi
I’m back, Redwing “reverse mortgages for the elderly” and my views.
I am doing research at present on +55 developments which are now “senior living policy” estates , with Gaydens Lawyers. It is interesting to note that 77% of Australian retirees still live in their principle place of residence with poor savings and no investment properties.
These people r considered asset rich and cash poor, so i guess that reverse mortgages have a place in society and in this situation r a good thing. However if these people were better educated to investing in their 30’s or 40’s they would not need them
I agree with Robert that good debt with sensible purchasing is a good thing also but, what percentage of the population really applies sensible v’s emotional purchases.
If the average Australian can amass 1.2 million in assets not including the value of their home they will live a degnified retirement and be in the top 5% of held wealth.
Quite simply, if a person/couple buys 2 properties at $250k each when they are 40 or so then one would assume that at age 60/65 they would own over 2mill of investment properties, in a perfect world.
resiwealth
Yes Yes but …
Good debt v’s bad debt i totally agree, however not when u buy your first home.
How do you create instant equity when u r using some one elses and then borrow 100% to get a dream house.
My eldest nephew (33) has 9 investment properties and no home mortgage. He uses a system i have been teaching him for several years now. He has no car leases, no credit card debt three kids and a rock solid marridge because they have no pressure. His mates r all in debt with their marridges in tatters because of financial pressures.
I believe the majority of aussies (80%) have ‘stinking thinking’ re finances. Craig (nephew) is a totally adverage bloke from an adverage family, he started with a s..ty one bed unit in Parramatta 7 years ago.
lets see what happens in the future, but i am not confident with this one, sorry guys and gals. next thing we will be like japan with third generation loans.
Philip[blush2]
Terry i don’t think they have any stratagies.
They buy direct from developers mark the property up kick back a club member for the referral and wooska!! … next plesae, no brainer don’t you think.
Secondly Kevin doesn’t look too bright to write an exciting book … opps!! … i will send him a copy of mine that will b a good laugh.
resi
Ausprop,
If u weed out the bad ones and the good ones as well, what r u left with.
resi
Robert, why pay them when i can do it myself.
In their latest newsletter they say they have sold 9000 properties through the club, they must be doing something right.
It also seems that there r not to many complaints as people r not pressured (correct me ???) to purchase. Their business concept is interesting.
I also believe that they have 60,000 members, thats a good following in any language.
I believe that this Paul Hanna is very well respected as a gifted author, i have the books but havn’t ventured there yet (reading that is)
And yes not the same Hanna, i know the other one personally.
resi
Robert, how about the SECRET to keeping the bl…y stuff, when i count up my looses … i can’t go on toooo emotional!!
Good post,
I have two questions,
1. Just how much money is enough to live a great life style and truley enjoy your family and friends.
2. Do you think there r differences between, Rivkin, Skase, Bond??
Is money the root of all evil or the lack of it the root of all evil, no matter how much you have.
resi
Hello Robert yes i am here, sorry i don’t visit this area that much and i will have to review my notes re my harsh comments …
RW is my development company which i am removing away from resiwealth.com which will soon have a clearer identy.
Yes my group is licienced in a variety of areas, we r currently looking at a complete overhaul of what we do as well.
I don’t like to promote myself as the almighty adviser but i do have a number of good strikes in my short life including being the person responsible for selling in 1988 4,500 acres at Midge Point to aqua DelRay what is today called laguna Resort.
I traded the stock market for 3 years and it did not work for me, i lost about 50k over all so i guess i got out cheap. every thing i touched turned to s..t and when i bet on a horse race the bloody thing comes in 4th, go figure that one.
I love developing within my means and only take on what i can sell plus i keep 20% myself for obvious reasons. I do enjoy your comments and challenges and i am worried about Dimichie?? (just kidding)
Philip
Dimichie,
Now i understand !!! … you’re from the northern beaches !!! … i think the spit bridge should be open perminately.
Just kidding mate really i am – i meant half way.
resi
