Forum Replies Created
Hi Johnjee, i’d build
Your origional purchase +++ say $100k = $50k per site.
A duplex at $240k inc. landscaping = $120k each + land = $170k say $180,000.00 strata/legals $10k = $190k = cost.
1. How much can u rent them 4 when finished +ve
2. 100% tax deductions now apply
3. U could sell one and put the profit against the remaining one reducing your exposure under your cost of $190k.
4. How much are they worth when u sell.
I have just completed two duplexes in Merton drive in Coomera on the Gold Coast which will sell 4 $295k each cost me nett $220k
I think of my origional buying price, you can’t replace land … land appreciates while buildings appreciate
Not many replys to this post is Townsville dead, i heard it was boooooming … regards Phil
Ring up my wife she has a BLACK BELT in American express[blush2][blush2][blush2]
Ah SIS i found it! – you are buying properties at market value and not negoiating – please expand for me … cheers[cap]
Tim you are on track well dne !!
SIS – when i come back in my next life i don’t want to come back as your money, cause you would work me tooooo hard he1 he1, love your work and as i have said before mate you will be in the 1% at the top, no problem.
By the way SIS in another post (answer) you mentioned a strategy that you are applying in buying property for the asking price – i’m interested in your approach?? i’ll try and find it in theother post … cheers Phil
If you are a virgin in this area u need to allow a min. of two years for start to building/construction stage. Work out the realistic sale of the units at the end of the project and work backwards allowing fr interest and holding costs. Goal; you must make a 35% profit or DON’T DO IT – (my opinion) welcome to my world … Phil
What’s the deal, give me the numbers, how much do you need, is it first mortgage guaranteed, are you willing for me to put a caveat over yuor personal assets as additional security … Phil
Great comments Noodles however, how do you stop Australians spending instead of saving, in my experience the majority of people at the end of the day will tell you to jack off.
Credit card debt in Aus is 27 billion dollars (the highest in the world per head of population).
100% home loans were taboo in the 1990’s only 4 years ago.
over 40% of the average income goes to meeting the mortgage committment.
86% of people who take out interest free (store accounts)finance , refinance and the end of the term and pay over 40% interest to catch up.
Divorce rate is up due to financial pressures and lack of knowledge.
And, i am sure you can go on from here with your access to information noodles.
My point is that Aussies living in the lucky country are tooo lazy to save, get a second job, get off their butt’s, expect others to do it for them, think the government will bail them out, expect their parents to help them, win lotto, why shouldn’t i have it now while i can afford it … etc etc
I ask many young people one question “if u r so smart why arn’t u rich” the fact today is that people would rather get into high debt and start at the top rather than do what the rich do and start small and build up, (in my opinion)
Education and awareness need to be taught at school to build good habits, most people also need a trade even Steve McK trained as an accountant before he got started.
Well said Mono, FireC. there are hundreds of stratagies and analaysis applied to INVESTING and not just in property.
I have developed a system called “in the box” which take into account many of the above. If 80% of my points fit in the box then i go for it, the rest is up to god and a little thing called RISK in the hope of making money.
Nothing in life is guaranteed just ask Kerry Packer what happened to OneTel … don’t!
here’s another small twist 4 you …
How much are you worth today $___________
How much do you want $___________
What is the difference $___________
How are you going to get there …….
[blink][blink][blink]
You get what you pay for – make sure tasks are in writing with performance guarantees – don’t screw them tooooo much we all need to make a living – $10 a week extra equals $520.00 per year – at the end of the day you need to have good raport with them, good luck …
I do my own adds then give it to them that way i know it is done and done correctly secondly my adds sound better because i love my properties.
Negoiate with the best two agents in any area has always worked for me, but stuffups always happen, thats life, try having twins !!!!!!![hair2]
Buy land wholesale, develop at $720pm2 and sell or hold, there are also quite a few forclosurers in this area because of interstate buyers and bad rental returns, have a look at out of favour areas like … opps can’t tell, good hunting
[cigar][suave][fear]
Jess sit down cause the stats are around $44,000.00 p.a BT
I’m a bitsa myself – bit of this bit of that, my brother had a poem …
My brother lay over the ocean
my sister lay over the sea
my father laid over my mother
and thats how i came to beHope that is not toooo rude sorry, opps[whistle]
Hi jess, a person who does nothing has nothing to contridute, but all those people you talk about have experiences and along with that a personal Philosophy is developed because of the HARDSHIPS they encounted along the way.
You don’t need to necesserially be born into it or be a genius READ “you don’t have to be born brilliant” by John McGrath … Read the Virgin story by richard Branson … read read read
Hey “Y” wouldn’t you like to hear Packers Philosophy’s of his up’s and down’s now that is one seminar worth the money!!!
jess my philosophy is to go for it because we won’t get out of the world alive – live well and prosper “spok”
regards Phil
If it was me he would be off the site – zero tollerence “spam” low opportunist, regards … Phil
Hi Yack i’m not a new investor but your post has wise warnings, i could quote a famous saving here “heed the roar of the distant drums” at the age of 28 i sold 4500acres of waterfront land (part owner) which today is Laguna Resort (1.3 billion dollar development) we got hit with a 5mill tax bill which we had to borrow and then the interest rates went up to 19.33% “that was a very character building experience for me.
Unfortunately when u are young you seem/feel invinceable until life deals you some reality which then gives you this thing called experience?? if you are lucky enough to get through it (some don’t).
Even Steve is giving warnings, but, as i am an optimist at the end of the day we MUST invest to give us freedom in the future when ever that time is for you, and i have learnt that there is always some one making money even when the interest rates were 19.33% deals we still being done.
Personally i think that commersial is better at the moment or buying land and building in South east QLD as i have just bought 15 lots in Ipswitch and stand to make 55k profit on each one, so you don’t have to buy and hold to me its about making money (profits!!!!!!) and moving on.
What does the word “investing” mean to people on this site, Steve and David bought 130 props in 3.5 years or 65 props each or 18 props per year for 3.5 years and have now sold some and are holding around 100 (form another post, i hope that is correct).
So if you are young don’t be a lemming – go for it because by the time you retire the Goverment won’t have enough money to support you and we will have to do it our selves.
“Some people have an open mind only to find out that there’s nothing in it.”
Hi Spanky – i’ll never doubt you … regards Phil
Good post SIS – i do tend to go along with LifeX quite a lot on this one, please read Wallace De Wattles book.
SIS – Karma, my views and opinions/experience
Be careful when you give that you are not taken, understand that when you give there must be a trade back in equal value at some time and i do not mean money value.
A $50 rifel has more value to an eskimo than a $1million dollar painting. (value/trade) Depack Chopra calls this syncronisity (sorry 4 the spelling) and is a matter of state of mind rather than expecting.
Over time you will learn who to trust however if you train your mind to only attract those people into yourlife that will benefit you the most then they will appear, it works like an ora, people who want to use you can’t get in, Tony Robbins calls this a “mind set” we all have the power but few use it. anybody can get to financial freedom but 95% won’t.
Karma! yes all things will be balanced out in the end, 100 years from now who gives a s..t no one will remember. Don’t let any body take any money from you its yours tell them to go earn their own.
If people want help what do they have to trade – balance all monies at the end of the day and sign off on it – beware of partnerships – read the 10 commandments, there is wisdom there.80% of the people you know don’t care about you, 20% of the people you know do care about you, learn the 80/20 principle. Giving money to poverty will keep poverty in poverty, but teaching poverty to get out of poverty is much more powerful.
SIS read Jim Rohan’s books or listen to his tapes, if you listen the universe will talk to you, ever thought of some one and the phone rang and it was them, thoughts are questions to the universe, John McGrath likens this (yes he believes in this shit too) to tuneing into a radio station …
oh dear i’m woffeling – summary, great things will come to you SIS because you are different !! use karma for good and not revenge.
