Forum Replies Created
Monopoly,
[biggrin][biggrin][biggrin]
Regards,
Del
Hi all,
Ausprop, your thoughts are the same as mine. I have spent this week, searching a particular area (in QLD) high and low for a property that perhaps the vendors want sold NOW…
This is an excellent time to pick up a bargain, because many vendors will be thinking that they have missed the boat, with solicitors etc all closing down for a while, many vendors will take what they can NOW for a quick sale.
The early bird catches the worm, (or something like that)…[blush2]
Del
Hi Femaleage 20
Good advice Jo, we have remained working, as it is easier to get finance if you have a strong financial backing.
HOWEVER, I would strongly suggest that you get your hands on Steve McKnight’s “Tales from the Trenches” which is a set of 4 recorded tape interviews with some of Steve’s investor friends. I’m not sure if it is still for sale though these days.
In particular you should have a listen to the tape from “THE WIFE” Nivia Prior. She quit school very early, left home and did it all on her own. These days she has a HUGE portfolio. She is so inspiring. I take my hat off to her. I’m sure you will enjoy it…
Regards,
Del
Hi Junkers,
Excellent words… Thanks.
Congratulations on taking the ACTION.
You have certainly got your money’s worth out of Steve’s seminar. I wish you well.Sounds like you have what it takes, instead of complaining and saying that “it can’t be done”…
YOU ARE TOO BUSY ‘DOING IT’ [biggrin]
Well done, and THANKS again for your “spot on” words..
BTW Duritz, MANY people these days buy houses on $1000 deposit, OR EVEN LESS. Of course you have to pay the balance of the 20% on settlement.
Cheers,
DelWell said Keira and Aussierogue, [biggrin]
Markpatric, do you still think that the world is flat, just because you haven’t found the corners yet? [blink] Sometimes you just have to accept things for what they are.
I give no real merit to shows like TT and ACA, they are very one sided, HOWEVER, the MAP program did what it said it would. END OF STORY..[biggrin]
Regards,
Del
Duritz,
I don’t really know where you have come to the conclusion that TT implied and suggested that Steve took a bunch of “near Bankrupts” and those just “treading water” for the MAP program. I certainly didn’t get that from seeing the show.
Actually everyone was from different and diverse walks of life, all with very different assets and liabilities and jobs, but I would only say that one couple was near bankrupt. Actually, one Mapper already had a portfolio of well over $1,000,000 perhaps over $2,000,000.
As far as that Mapper who you claim “if he didn’t borrow from his family he would not have his portfolio now, well, I beg to differ again….
They would have used different money partners, or else they would have tried more expensive short term loans from commercial lenders. He would have found a way to do it. That was the difference in having Steve as our mentor; he gave us no sympathy if we had no money to do deals with. It was up to all of us to find a way, and make it work… There was no hiding in self pity or “I don’t have any money at the moment” stuff…..
That was what Steve gave us…
Hardly a holy grail to drink freely from, actually it was quite confonting stuff for all of us to deal with at times…
Buy the book and have a read, you will find it interesting.
Del [biggrin]
Luke,
The 11 second solution was something that Steve & Dave used as a guide to purchase lots of property from about 1999 to the “BOOM”….
There has been the biggest boom in Australian Real Estate history in the last few couple of years, and although it IS still possible to find properties that meet that rule in smaller towns, Newcastle is “more than likely” not one of them.
These days you “probably” need to be using different stratagies to make money out of property…
Finding a property that straight away meets the 11 second solution these days, may not be the best addition to your property portfolio!
Good luck,
Del
Hi,
Mortgage Adviser – you are exactly right… A lot of his deals were “no money down” deals, where perhaps the vendor left cash in the deal.
Some were subdivisions, with long settlement dates. etc..etc.. It’s not hard, “perhaps” all you need is a lot of GUTS and DETERMINATION and that Mapper had lots of both.
Duritz, get some education, and even perhaps read the book…
Regards,
Del (ex Mapper)
Hi Nobleone,
http://www.propertyinvesting.com/mappers
This will bring up a page on all the Mappers.
Scroll down until you find John & Rhonda’s picture and stuff, and you will find their email and website…
Good luck,
Del
Not me Richmond,
Personally, I hate shopping, especially Christmas shopping!
Bah humbug!!
Del
Hi,
Personally I would NEVER turn a 3br house into a 2br house. I feel it would de-value the house.
Maybe next time rent it to someone you don’t know, then it doesn’t matter so much…
Good luck,
Del
YES DEFINITELY – You are very fortunate to be living in the land of plenty (plenty of cashflow positive properties)…[biggrin]
Many forumites travel to NZ on a regular basis to buy cashflow positive property. You are surrounded by it.
I strongly recommend it if you are considering investing in NZ….
Cheers,
Del
Hi Karen,
If you’re not in too much of a hurry, there is a FANTASTIC new CD about to be launched called “NZ Property To Go”. (should be avail by Xmas)..
STAY TUNED….[biggrin] hehe… It stars some of this forum’s respected NZ investors… Not giving any names away (just yet)!I think it will answer lots of your questions….
In the meantime, try doing a search on “NZ”. Make sure you have a cuppa with you, because there has been lots and lots of discussion about NZ.
Good luck!
Del
Hey Supafreak,
WOW! That’s impressive!
It’s amazing how making yourself accountable really works..Best wishes,
Del [biggrin]
Hi,
Rents are definitely low compared to values at the moment. This was a HUGE boom that we have gone through.
What you are considering is speculation..
A lot of people will get burned speculating in this market.I personally think that people can’t afford much of an increase in rents, so this (to me) means that house prices will continue to fall instead or rents rising.
This is just my opinion…
Del
Hi,
Unless you are definitely going to do a Wrap, the Wrap Kit would be a waste of money. Wrapping in this property market for a total beginner (if that’s what you are).. is a riskier way to make money.
The Property Masterclass would give you HEAPS and HEAPS of knowledge about a broad range of things, that you can use over and over. It will also give you motivation and encouragement to take action.
I’d go with the Masterclass,
Del [biggrin]
Hi Acey,
That’s a good point…
I seem to remember in about Feb 2003, when we started investing, and lots of people told us that “the boom was over”, and “prices couldn’t possibly go any higher”, “prices will fall and you will lose your house” etc….. Well, as we all know the boom went on a lot longer (possibly partly thanks to Steve’s book)..
We now have “hundreds of thousands” of reasons to say that they weren’t quite right.[biggrin][biggrin]
We probably would have been classed as lemmings at that time, but getting into the “market” can be the best education anyone can have…
As long as people use caution, there can be bargains in all markets…
Cheers,
Del
Hi Twilight,
I have only just started using them on my recent ones, so I can’t judge too much as I haven’t claimed, but if you do a search on “insurance” you will probably find that the most popular company is CGU for landlords policy. Price wise, they definitely beat my previous company that I’d been using….
Good luck,
Del
Wow, that is big $$ losses…
Makes you wonder why anyone would consider buying for capital gain in this market?
To me, they are the real lemmings…
Del
Hi Tim,
People in NZ ALL seem to LOVE the ex-state weatherboard houses found all over NZ… They are built very sturdy, and have been maintained well by the Gov’t until the last few years… I own one of these, and in over 12 months, I have not needed to spend one cent on maintenance. (touchwood)
I also own a fibro one, but it’s in good nick..
Good luck,
Del
