Becky,

Good girl!! See ya next week.

Maggie,

We only started investing late Feb this year. We will only ever (at this stage) buy cashflow pos. properties. We have 2 houses and 1 block of 4 units. Due to settle in 2 weeks we have a house and a block of 5 units. We have only started out.

If you are hoping for multiple properties, basically…[Read more]

Thanks again Stu,

You can book us in for a pre-approval or two first thing next week.[]

However, it is nearly worth the pain of this week for the BIG lessons that we have learnt.[]

I don’t want to go through another week like this one too soon!!

Del

PS…We went to the pub for tea to celebrate![]

Hi Maggie,

Yes we are in that high tax bracket dilemma! (If it is in fact a dilemma)[]. We have our own asparagus farm.

One thing, it allows you to get multiple loans.

As far as the paying more tax issue, the way we look at it is you have to be earning $1.00 to be paying 48.5 cents tax. Therefore we’re still ahead. Most of our loans are…[Read more]

Hi Dynamic Duo and everyone else,

Just thought I’d let you in on our drama this week.

We had “verbal approval” subject to the reading of the Trust Deed, from “a bank” a couple of weeks ago, and everyone thought that there would be no problems, especially us!! We cautiously went ahead with the loan, and went “unconditional” with the…[Read more]

Hi all,

Yes these shows need a shot of reality!

However, they give the average person the get up and go to go out and try something.

Our “strategy” seems to be – buy a property (in a regional town) that is just under cashflow +ve. Do a reno, up to 10% of value of ppty, and bring the house up to cashflow +ve.

It’s something that others should…[Read more]

“Success is often just hanging on, after everyone else has let go!![]

– That one took a bit longer..

Hey Aussie,

You’re funny!![][]

“The early bird catches the worm. If you’re too slow you’ll just catch a cold”!!

Catchulata,[]

Del

Tess,

It’s a bit hard finding suburbs that fit the 11 second solution thesedays.

You will need to further afield. Look at the larger regional towns. There are lots of them.
Ours are mostly 400kms away from where we live.

Good luck,

Del

Hi Max,

Welcome to the forum.

Just a hint though, you will find the most of the regular forumites try not to critisize others. Each person has different ideas, thoughts and goals.

If you want help from people on the forum, perhaps try to rephrase your posts, to be of a positive nature.[]

Good luck,
Del

Hello Stuart,

That is interesting.

Could you please tell me how much this rate locking fee is per loan?

Interesting concept. Just wondered whether the fee is worth it or not.

Thanks,
Talk to you later hopefully,[]

Del

Hi Tess,

Here goes.

If you see a house that you know rents for say $160 per week.

1. Divide the weekly rent x 2 = $80
2. Multiply $80 x 1000
3. Answer is $80,000

If the price of the house is $80,000 or less, the chances of it being +ve cashflow are very good.

It’s only a filtering tool, and not the only thing to consider.

Remember, some…[Read more]

Hi stocki,

Yes this is a tricky one!!

With one smallish reno that we did on a house about 400kms away from home, my husband (Will) was free for a few days. We were able to get access to the house before settlement, luckily.

Will brought a mate, and they slept in their swags and camped in the house. They also had the part time help of a local…[Read more]

Sooshie,

Probably getting off the track here…sorry about that!!

Our first (possible) wrap is to a tenant. She is part Aboriginal. She was “wrapped” first of all when we accepted her application as tenant a few months ago. I believe she had come across a lot of prejudice, and even though she didn’t have heaps of rental references etc… (she…[Read more]

Sooshie,

That is so true!! Success is a very personal issue. It means something different to each and every person.

I feel like I AM a success in property investing, because my attitude to life has dramatically changed.

I am so much more motivated, happy and energized. I love living more. I enjoy trying to encourage others. I also…[Read more]

Hi Andrew (AD)

That is fantastic. Congratulations!!
I am so happy for you.
I believe what goes around comes around.[]

Naughty Johny,

It is always a good idea if you are looking to build up a large portfolio, that you must keep your borrowing to 80%. Once you go into MI, you will be restricting yourself with any further borrowing, and find the…[Read more]

Westan,

You win!!![][][]
Congratulations on a great achievement!

I guess the moral of this story is:

“You’ve got to be in it to win it”

I agree with you last statement about property values. One cannot expect this type of craziness to continue.
We should all be in for very stagnant time, “sometime” in the near future…
But as long as we all…[Read more]

Hi again Aussie,

Yes, I definately agree, the capital gain is pink icing on the cake!![]

As long as people’s IP’s are at least paying for themselves, then we should all have a pleasant journey, compared to othes with who are -ve geared with interest rates on the move.

Bye,
Del

Aussierogue,

If you are referring to my last post, that’s not the impression I meant to give. All our properties are in rural areas.

All are good +ve cashflow.

“THE TEST WILL BE WHEN THE MARKET IS FLAT…ETC”…

Yes, that is why Steve has set up the Millionaire Apprentice Program. It prove that it can be done. I guess we will all see in 12…[Read more]

Hi Sooshie,

Long time no hear!

That’s a lovely thought. May I copy it?

“Congratulations on making your first Payment to your own house”.
Really would make your wrappee feel that they are important, and that they’re not just helping you to get rich.

Thanks,
Del

Cremin,

My thoughts are the same as MiniMogul. Not all of us want to “brag” about what we’re doing. We are all still learning.

Anyway if you need figures here goes:

Bought our 1st ppty late Feb this year cost $80,000 did reno costing $7500, valued after reno at $125,000. Currently rented at $165. Since then have bought 2 blocks of units and…[Read more]