Forum Replies Created
Hi Gavin,
Farming is a great industry for anyone who is prepared to work. (we are asparagus farmers)..
It’s a shame more people don’t consider farming theses days. A great lifestyle at times.
When we wanted finance for our farm, we went to the best rural accountant we could find, and he prepared a cashflow forecast for the next 5 yrs. They didn’t give us Interest only loan straight away, but we refinanced the loan a year or so later and got it. In hindsight, I am very glad now that we have paid off a large portion of principal though… We managed to get 100% finance plus we borrowed stampduty etc.
Anything is possible if you get a bank manager on a good day…
All the best with it,Del [biggrin]
Hi,
Just do your homework on piggeries (I’m sure you have done lots already)…
We have friends who ran one of the largest piggeries in Aust, (in QLD) and they have done it tough for the last few years (so have most other farmers like us)… It recently sold under mortgagee conditions.
If the farm is supposedly valued at $1mil, why would they sell this much under valuation, unless they know something that you don’t…[blink] There are obviously not many people beating their doors down to buy it.. They sound pretty desperate to sell.
Large scale farming is tough, no matter how motivated you are – income is determined by overseas influences, and the japanese know who cheap you can produce, and still survive, and the drought has caused many to go to the wall due to feed costs.
Sorry to be a wet blanket, [blush2]
Good luck,Del
Hi,
I think that most Aussies who invest in NZ don’t withdraw funds weekly. That doesn’t make much sense to me. Keep the money in a NZ account for a rainy day when the tenant doesn’t pay or to cover for maintenance items and rates.
We just forget about it, and let the funds build up so that you get the deposit for the next one!
We have invested in NZ for a year now, and I can honestly say that we have never withdrew any funds.
Regards,
Del
[biggrin]
No probs Gats, I’m happy to help if I can.
Regards,
Del
Hi Gatsby,
Pakenham is 10-15 mins from where I live. It is the local town that we do shopping etc.at, so we know it pretty well.
Pakenham is growing very quickly!! It is no longer a country town out in the sticks!
As a long term (neg. gearer), I feel it would definitely appreciate (similiar to Narre Warren) in the next few (??) years, because of the Pakenham Bypass that will make commuting to the city even quicker. North of the highway is usually where the nicer homes & better capital growth has been.
Kooweerup is another town that is growing. A smallish country town 10-15 min drive from Pakenham . It is finally starting to be sub-divided. House prices are a little dearer here than Pakenham, due to the small size of the town. Lots of people moving out from Pakenham to Koowee. to get away from the hustle & bustle. A gem of a town if I do say so myself!![biggrin]
If we can help you further, don’t hesitate to ask..
Del
Hi,
We have one commercial ppty. A Chemist Shop.
It gives great cashflow, tenant pays all outgoings and you feel secure that the tenant will be around for some time.
Commercial is definitely worth considering. You don’t need to be Einstein to change to commercial.
Just don’t sign any contract until your solicitor views it, for reasons such as GST.
Regards,
Del
Hi George,
Perhaps if you narrow down Victoria a bit, you might get some responses…
It would be easier to do bookkeeping if are close by.
Good luck,
Del
Hi Yorker,
From what I remember about Roseberry, you would be lucky to find “any” builders in Rosebery TAS.
Good luck,
Del
Hi Westan,
It’s nice to see that you are wearing your “I am Australian” hat….
I suppose when the Kiwi’s eventually win a medal (only joking Muppet) that you will put on your “I’m a Kiwi” hat!! [biggrin]
Regards,
Del
[biggrin][biggrin][biggrin] LOL!
Good one Kay!
Hi all,
I disagree with Kay also. (sorry Kay)…
Retirees love Mildura. I have read it has more sunshine days per year than the sunshine coast of QLD.
Mildura has heaps of employment opportunities and farming is huge there. There is also lots of money coming into Mildura because of seasonal citrus, grape, ASPARAGUS etc workers that come to town each year. They all require places to stay!
I love Mildura.
Del
Hi Kay,
You are right.
The “property proteges” were ORDINARY (some very ordinary) people! [blush2]Steve,
I love the look of the cover, and can’t wait to find out how to hear how people can build up a portfolio of $1mil in a year…[biggrin]
Regards,
Del
Hi Jay,
Congratulations on your investing. You have done very well. As far as equity goes, I believe it is much better not to use equity, especially now that interest rates are on the rise.
I’d stick with using 20%+ deposits if you can. It would be difficult finding these +ve cashflow properties in a 10K radius of Brisbane nowdays though. Why not increase the radius a bit more. Qld has lots of opportunities still in regional areas, and the potential for capital gain is still there.
Good luck,
Del
Hey Willi,
I saw your new deal, and it looks great!!! Thanks for the PM… It looks in fantastic condition already. You have inspired me to start looking for some similar deals.
The deals ARE still out there for those who have the right mindset.
It is fantastic to see you on the forums again…
Keep it up, we all miss you…[biggrin]JG,
I agree with Dantheman about investing in NSW.. It is very difficult (BUT NOT IMPOSSIBLE) to locate CF+ deals in NSW without looking in ghost towns. Because of the new exit stamp duty, I won’t be looking there anymore when I can still find great deals in states without the tax.
Regards,
DelHi Setmefree,
Mark (the accountant from Steve’s seminar’s details are as follows),
Mark Unwin
Williams Partners Pty Ltd,
Chartered Accountants
90 Queensbridge Street,
Southbank VIC 3006
PH: 9682 5288
Email: [email protected] dot auRegards,
Del
Hi AD,
You couldn’t count the number of people who you have helped on this forum!!!
I really miss our chats, (must catch up soon) and I am proud to say that you have been a real mentor of ours, and we would love to see more of you on the forum again. People who know you have heaps of respect for you…
Give the new forumites a chance to get to know you too!
Take care,
Del & Will
OK,
If I couldn’t negotiate the price any lower,[confused2] and I had to choose an IP with a TV as against a holiday etc, I’d opt for the plasma TV, as it’s something that will make my IP more rentable.
Regards,
Del
Hi all,
My way of thinking is similar to Yack’s.
If we were looking to buy an IP with a “free” plasma TV or holiday built into it, I would negotiate like mad to reduce the price of the IP, and buy it without the gimick.
Just my boring thoughts,
Del
Hi setmefree,
We have all got to meet Mark at a few MAP Meetings. We have quizzed him until he was blue in the face!
He has always been able to answer our questions, and appears quite knowledgable for someone so young.
He is easy to talk to, which is always good too.
Hi Monopoly:
Stuart is a Mortgage Broker these days, (he is ours), and he is excellent, but I don’t think that he is doing accounting anymore.
Regards,
Del
Well said, Dave..
