Forum Replies Created
Hello Nigel,
I looked at your web site changing places and it appeared there was little on it …
USA is such a huge place and I know Steve has been there himself I am wondering if Steve is going to be running courses this year on USA buying like Dymptha is … how much do you charge for giving this advise Nigel and do people have to buy from you at the end or can they buy it them selves like realestate.com.au
HHmmm there is a hotel for sale in Hornsby Sydney with 30 rooms for 3.2 mill ??? that's 100k a room … zero to 30 properties in one buy ???
Yes Richard you are correct … but it is every where else as well … is this the new push for 2010 don't buy in Aus we are all moving to USA haha
Gosh we'll be all alone just like the movie haha
Happy new year Richard I look forward to reading your posts as always …
D
Yes Matt you are correct …
These seminars are directed at the unsophisticated investor who is "lured" in thinking they are going to get rich …
Fighting against these people will only create new ones emerging and you will never win … look at Jenman.
They generally last for 3 years until their popularity diminishes.
Danny and Paul Hanna … Henry Kaye … etc and the young inexperienced investor is looking for the magic dust or the great secret uncovered from a magic scroll found under the great Pyramid hahahaha
Until the ASIC … ACCC … TDFT write law that every seminar presenter must provide proof and or be licensed to give "financial advise" whether standing on stage or via a web site you will never win … or until Neil Jenman gets to a decent lobiest to put it through parliament this will continue …
One of my heroes is Peter Spann because he not only came from poverty he went to extraordinary lengths to become compliant in every respect and he proves he worth and backs up his wealth
The only secret to wealth is get off your arse and give it a go … a failure does not mean you are a failure it means you are learning to become rich and financially free … mistakes are good we all make them just DO something … start small while you learn but just do something.
Hmm interesting advise and responses … "scaremonger" haha funny …
The question from the beginning is as it is a simple question …
Many years now the average interest rate was around 11% then in the 90s it shot up to 20% which was never expected …
TFHO are borrowing for the first time in a market of severely low interest rates compared to history … so with that in mind my question was intended to see if these people would be effected the most having no prior high interest rate education … thats it boys so take a pill …
The global economy is still not sorted and many believe it is a long way to go … we are still buying property however our selection has now changed towards the retirement and plus 55 areas, as I said b4 we just purchased a one bedder 54 m/2 for 225k in Sydney that will rent for 400.00 with a bus stop at the front door … still buying boys and still investing in the markets … we made a profit in LNG of 129% in 61 days … gold, silver, lithium, gas, energy, food stocks all look very positive for 2010 …
Lets see what 2010 will bring and then we will reread this post.
Merry Christmas and safe driving … don't drink and drive you spill too much.
Dear Dan I don't know what planet you are from or how much experience you really have …
Low end market is strong it always is at the bottom …
In Sydney EAST of Pacific Hwy and Lower North Shore and Eastern Suburbs etc properties have dropped by up to 50% … this is top market and he was right … also this can be effected more …
First home owner is a false markeyt …
Please phone all agents in Mackay, Proserpine, Airlie beach, Mission Beach, Bowen … and ask their opinion …
I would love to share the strategy Matt but it would take too long … basically found a site and had a buyer in mind … solicitor drew up option agreement (contract) … employed a planner and lobbyist to change the zoning under the LEP and wooska exchanged …
No big deal in Options … an option grants you time … the contract is simply an agreement between you and the vendor … people think options are soooooooo secret but they are so basic a 10 year old can do one.
Some people are wise and others are otherwise.
2010 will require intelligence … thats why the rich get richer because they don't get caught up in the hype.
Merry christmas i'm going shopping with my daughters.
D interesting response …
Contrary to yr belief I am positive and own a number of investment properties, my first was a one bedder in Balmain for $42,000.00 and still own it hence I love one bedders close to CBDs.
Having a good positive mental attitude standing in front of a forest fire will not put the fire out.
Having a balance on a reputable forum is I believe positive to all the new investors who think that real estate investing is a bed of roses and will make you rich … I have 3 friends who bought property in country towns that can't sell them and the tenants have left.
I have friend who bought 2 properties in Dubai … no more on that …
I have another friend who put an option together and made over 2 million dollars within 8 months … total cost $8,450.00
Life is a roller coaster and at the end of the day you can only look back and judge your results on your decisions and others will judge you for that as you judge others.
If you scan through this site there are people of all ages and all experiences and qualifications and I try to do the best I can to provide information to help the greater few and if you think I am a dooms stayer then so be it … however I read articles from all over the world because I am also heavily into the stock market where I use my profits to buy real estate …
Good luck with your commercial education we own several.
Dear DW this is not a negative question it is a very intelligent question …
How old are you and how much experience do you have ?????
The government in it's wisdom decided to spend our tax dollars into this scheme to help the building industry … TFHO are the most desperate to get into real estate and have borrowed at 100% with reports that the properties are 25% over priced … these properties in the next 2/3 years could be purchased for bargain prices as the loans revert to P&I … USA still has not fixed the problem as people are refinancing back to fixed loans and NOT paying off their debts for future retirement …
2010 will see banks tightening further it has already begun … I have paid 19.33% on a $240k Citibank mortgage loan in 1992 … the difference today is the new borrowers started borrowing on the lowest loans in Australians history that the average over time is 10% so a person going from 4.5% up to 9% is in a different mind set …
So do you see disaster or opportunity ?? it is not a doomsday question … Have you read the conspiracy of the rich ??
Read Peter Spanns books he owns over 50 one bedders for a reason …
I love them we just bought a one bedder in Sydney Wahroonga for $225.00.00 in a plus 55 with a rental guarantee of $300.00 but have given it to a local agent with a furniture pack (tax deductible) at $400.00 per week …
Easy to rent easy to sell if you need to … great ROI … go for it
Yes I have offered this …
The secret is the finance agreement … "Vendor Finance Agreement Document"
Costs about $4,000.00 to have it drawn up by a good solicitor … no you cannot have a copy of mine for FREE but I can send you a template for $1,000.00
If you do the numbers and there is a profit then do it …
If you do the numbers and and they show a loss then dont do it …
List ALL the costs … get them checked by an accountant … make a decision then move on …
CGT is a good thing because it means you have made a gain …
If they numbers don't work don't rework the numbers …
Hmmm
Sounds too expensive foir a 3 bedder …
Collingwood Park 4 bed DLUG new for under 400k … u can buy new in Coomera for the same money ??
Termites are a major problem …
Sounds toooooooo hard for me …
Why don't you just sell them then buy a PPOR … trading is fraught with delays and dangers and lots of time wasting negotiations …
My sister in law is in the same situation … Answer pay extra into the loan … sell and pay back loan then start again … renovate to add value to raise valuation … sorry s..t happens thats life hang in there another 10 years will help you.
Close to the CBD walk to rail, bus, shops, hospital, schools, golf course, parks etc
Are you married … ask your solicitor about CGT … can you live in it while looking for another then get it revalued and use the equity to do another … do you have a good accountant or experienced property adviser.
Good luck
It is a fancy word used by John to sound different at that time … fast cash is risky and you need lots of experience like JB had.
For many of the sophisticated deals you honestly need to be very experienced or you will make a fool of yourself and get nowhere.
Property options … simultaneous settlements … JV Partnerships … Trading … Put and Call … Calls etc are all fancy names that sound enticing and are when you know what you are doing.
How much experience do you have … are you a licensed agent … are you credible … are you an expert negotiator … how old are you … etc
I think you sound like a very smart and savvy 25 year old … good work you are on track.
Everybody has opinions and there are millions of scenarios when it comes to real estate investing … suggest you read the good books to help your head like …. the richest man in Babylon … rich dad poor dad … the cash flow quadrant … tony Robbins for motivation and getting a good mind set …
When it comes to advise find people who own more than 5 properties if that is your field of interest … good luck
First question is why would you do this …
Second point is stamp duty …
Why not a trust …
Seek legal advise …
You have obviously heard this b4 so from whom …
I'm confused
1 … stay away from financial advisers they have lost over 8 billion dollars of investors money in the last 3 years …. IMHO they are a legend in their own mind.
I started with a ground floor one bedroom second had apartment at age 19 in Balmain Paul street … dad helped me with the deposit and it was $38,000.00
I suggest you start small … easy steps while you build confidence and self esteem … real estate is not about property it is about physiology … Donald Trump!
