Forum Replies Created
hi comdom
i’m a fan of the Matrix. thought it was one of the best films ever.
but i was very disappointed with the reloaded one, hopefully they can turn it around for number 3.westan
hi everyone
i’m westan’s 12 yr old daughter
Guy is awesome, his voice can takle all kinds of music.
GO THE FRO
]i agree that Cosmia voice is going down hill and will be out tonight.[xx(]
Bye Hannah.
hi mike
thats a generous offer. but if you invested that in your property you might achieve the same result, ( a happy tenant). perhaps a gift voucher with a local nursery or a cheap improvement?
maybe i’m being stingy?
does anyone here offer rewards to tenants who pay on time, i know Kiyosaki suggests this. it sounded like a top idea. the way it works if the tenat pays on time each and every payment they receive a bonus after every year. for instance after 12 months they get a $50 gift voucher. if they do it for 2 yrs they get a $200 voucher.
westan
westanhi rob
this might sound a bit self focusing but i think the best thing for the tenant is for us to put something back into the property. perhaps a ceiling fan in the bathroom or fan in the bedroom with summer approaching. it costs more than a card but it sends a powerful message to the tenant that we are interested in the property and them also. maybe a new letterbox.
who has got some cheap ideas for improving properties? actually i will start a new post now with that topic.
westanhi all
gee this topic has taken off. malachii is right on the ball with Jeff white (an ex cop also), belinda is experienced and trying hard and a new guy Dale seems on the ball so far. but Jeff has been promoted to office manager so i doubt he would want to go back to looking after everyones properties. (perhaps we can start a bring back Jeff campaign).
it’s interesting that all of us appear to have the same opinion of the other agents. sad for a town of 15,000 that only one agent is doing the job propertly.
westanhi wrzboy
you need to decide what your overall startegy is, mine is buy and hold. but with the recent rises i’m actually selling some, but i’m reinvesting in property that is showing an even better return. it’s hard to resist playing it a bit safer by reducing debt (i’m doing this).
westanhi all
there is one simple answer, become more disciplined, as steve said once a month sort it all out. i’d go further and say you must do it once a week. sit down make a time right now that you commit to doing your paperwork and stick to it. grab your partner (or someone elses, no perhaps not) and work on it. if you find this works let me know because i’ve got paperwork all over the house.
westan
hi roxy
there is certainly a place for buyers agents but
the education you gain by doing the research yourself is just so valuable. you really need to do it yourself if you want to become a true property investor. its the process of learning how to find and do the deal that will make you wealthy just as much as the property itself.
bye westan
hi pebbles
a serious response
i don’t own in Ballarat, but i have a very good impression of the city.
some things in my mind going for it apart from the weather.
1. fast train link to the Melbourne
2. growing number of people relocating from the city to live there
3. growing university
4 the governemnt new million dollar push for people to move from Melbourne.
5 a beautiful cityyes a well selected Ballarat property should do well
westanballarat is cold
westanhi fullout
i swapped over to BJ Bennett (the proffessionals) a while ago and have been very happy
westan
hi all
future$, good question as many of us feel is way, i’m 39yrs old and my youngest is 3 so it’s always in my mind.
Huey has a point, the more properties you have the more time it consumes, the more properties the more headaches.
i started in 1997 and it’s been like another job (but i’ve enjoyed the ride) but NOW i’m fortunate i can call it quits on working (resigned already finish on Dec 19th.), it’s a difficult call for you but i’d consider buying cash pos. properties that you can do cosmetic work to and add value.
it realy will mean a sacrifice of time , money and energy now for future reward (delayed gratification).
is now the time to be buying ???
i’d buy carefully
all the best westanhi guys
billfromoz
no arguement from me. except if people are getting out with the view to re-enter at a future time, then i’d say they may be disapponted. i don’t know the canberra market so i accept what is being said. but the Melbourne market only dropped by 5% in the early 90’s (not 30% crashy), clearly not enough to get out and back in even if you are smart enough to pick top and bottom. this is due to the large costs involved with property (stamp duty) unlike shares (no stamp duty), people also need to consider CGT when doing their own figures.
if people are overexposed then reduce is a top strategy, as we all know it is unlikely that things will move too much higher in the near term.
as far as 2005 goes? i’ve got no idea what so ever about when the market will be worth buying again. it may take years, and then it may require for rents to increase.
as far as your thoughts about rising vacancy rates i’m sure you are on to something if you real want to get out this may be a good indicator.
finally, crashy, without wanting to repeat myself, i’ll say it for others that are new to our little debate.
Some have said “the market will drop by 20-30% as it did in melbourne in the early 90’s”. this didn’t happen, maybe it happened in canberra i don’t have that data available ( i might look it up).
finally just because properties aren’t selling within 2 weeks doesn’t mean that the market is reversing. personally i think it is a sign the market is out of control when properties are selling within hours of listing. perhaps it means people are starting to show some common sense again. Common sense is the one ingredient i see people are lacking. i know a guy who looks like blowing $240,000 ( a large portion of his net worth) on a spec stock thats gone bad. a smart guy ( an accountant actually), but no common sense, thank goodness crashy’s investment program would never recommend large amounts of money in high risk spec stocks.
westanhi all
if you sold as you are suggesting was a good stategy in 1993, it was the bottom of the market in most major cities in Oz. the peak was in 1989, and if you sold then you would have missed the in excess of 100% capital appreciation since then.
hey i’m a seller in the market at these prices (because i’ve got 30 properties) but for most people a buy and hold stategy is always the best.
history shows that property has never failed to recover from downturns and exceed previous highs. in the future who knows, if i was an investor with only a handful i’d hold on. people who make big money in real estate hold.
westanhi mikeej
read as much as you can, borrow books from the library and friends.
a friend who was a successful investor went to one of those $5,000 weekends and said it was great. but when i asked him what did he learn that he didn’t already know he could answer.
i’m a little sceptical, i couldn’t justify spending that sorta money, i’d rather buy a house with it.
regards westanhi kay
i’m with you i couldn’t wrap a property to someone either, just doesn’t sit right for me. but i’ve met people who bought under one of those agreements and they were realy impressed it gave them a chance to buy a house when the banks said no, today 5 yrs later his house has doubled in value.well i started in 1996 and in the first year i bought 10. i only had $25,000 to start with so i needed to be a bit creative. so what i did was buy properties that were below real value. adding to this i didn’t have much cash but a very helpful mother who could see what i was trying to do. i borrowed the money from her to buy a property then i’d go to the bank and refinance. for example i bought one in Tas for $33,500 went to the CBA a few months later and they said it was worth $55,000 and gave me 80% back: which put $44k in my pocket, i paid back mum the $34k i borrowed and had $10k left. then i bought 4 in Adelaide for a total of $92k (sold one of those last week for $95K). once again i put 20% deposit in and borrowed 80% using some of my money this time. anyway then we got stuck on 10 for a while a few years actually, (the banks wouldn’t lend me any more money). then prices rose and i found a bank that would lend to me so we started to refinance. by then the adelaide properties were worth $45k each so we got 80% finance on them and paid out the old loan, with the new cash we bought some more properties. up until the end of 2002 we had aquired 20 properties (about that). in the past year prices have taken off especially in country victoria and SA so our prices have gone through the roof. i’ve sold about 10 this year but bought about 16. so even poor people can win in this game.
could i do it today? prices are a lot higher than in 1997, to be honest i’d be careful buying (in Oz) in this market, but i think it can still be done.
hope this helps a little
regards westanhi con
firstly i live in Victoria and don’t know the market around Sydney. but unlike John Burley who apparently says buy within 60km i buy anywhere there are good buys. if it is 400km away thats no big deal or even 2500km if its a good deal i find a way to make it work. Dolf de roos has properties all over the world.
now about your questions
capital growth
historically you are right cap growth has been slower in the country (but actually not a lot less than the city). that is until recently. most country areas in the southern states have grown at a larger rate than the capitals (some properties by 100%). are they playing some sort of catch up at long last i think so. will it continue ??? in regard to the refinancing thing i’ve refinanced a few times to get the cash for more properties, growth has been good.rentals have likewise risen in country towns, but not at the incredible rate the prices have.
one other factor for your consideration is how many properties can you buy that are negatively geared ? the great thing about cash positive is you can accumulate many more, i’ve got about 28 in the past 6 yrs. i’m on less than 50k a year and my wife doesn’t work. i could have purchased one negative geared property that would have been it.
as for as the area around you someone else will have to help.
regards westan
hi shaan ching
join the queue[
]half the people on the forum are in the same position as yourself.
best to pick up a phone and ring around you will learn so much through the process, this will be worth more than the property.
all the best
westanhi pinky
be careful where you buy, i don’t think the market will drop too much if at all, but i’ve sold about a 1/3 of my oz properties in the past 3 months just to be safe.
take your time don’t rush in learn as much about areas as you can
westan
hi guys
it sounds like kylie is a very smart young lady to add to here other abilities.
so she has properties to add to the other assets[
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westanthe link didn’t open for me either but it says Kylie monogue is a property investor with Millions of $$$ in investments around the world especially in Melbourne. i read the story yesterday
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