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Xenia
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@xenia
Join Date: 2002
Post Count: 1,231
October 17, 2005 - 1:07 pm
Hi Tony,
just wondering
did they pay for the whole lot or was there an excess?
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
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phone 0412 437 582
Xenia
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@xenia
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Post Count: 1,231
October 17, 2005 - 1:01 pm
no problem, I live a street away from the arnots factory in Adelaide, can smell them now:)
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
[email protected]
phone 0412 437 582
Xenia
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@xenia
Join Date: 2002
Post Count: 1,231
October 17, 2005 - 12:58 pm
Only go joint tenants if you are planning to marry your friend. That means that if one of the partners dies, the title expands to the surviving partner and they own the whole lot.
Tenants in common means that you have one half each and you could leave that half to whoever you want in a will or sell it at anytime to anyone else.
a good solicior should be advising you to go tenants in common with a friend!
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
[email protected]
phone 0412 437 582
Xenia
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@xenia
Join Date: 2002
Post Count: 1,231
October 17, 2005 - 12:47 pm
are you renting to them on lease option or from them?
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
[email protected]
phone 0412 437 582
Xenia
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@xenia
Join Date: 2002
Post Count: 1,231
October 17, 2005 - 6:03 am
You can ring them up and talk to them too, can also ring up margaret lomas’ company “destiny”, they sit down and will do a consultation with you, the first one used to be free, dont know if it still is.
Like I said, they are a missfit with my investing goals, but they may be ok for you!
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
[email protected]
phone 0412 437 582
Xenia
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@xenia
Join Date: 2002
Post Count: 1,231
October 17, 2005 - 6:00 am
These people are OK if you are a high income earner, as the properties they find a positive geared or neutrally geared after factoring in your income and depreciation allowances from the property.
Like a Margaret Lomas type of investing.
If you are a full time investor and want stand alone positive geared properties, then these clubs are not for you.
You need to decide if their style of investing fit’s in with your own plans and style. It dosent fit in with mine!
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
[email protected]
phone 0412 437 582
Xenia
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@xenia
Join Date: 2002
Post Count: 1,231
October 17, 2005 - 5:55 am
actually, I changed my mind about Jenman, just read an article about a friend of his that got scammed by a wrapper. The friend was making payments to the wrapper, but the wrapper was not making payments to the bank. The friend, a german immigrant, lost the house he worked hard to pay for
I certainly will never ever put anyone in a position where they could loose their home, I wont be able to sleep at night!
Still don’t agree that all wrappers or lease optioners are bad, and and its unfair that all are labelled the same way by jenman, but I agree public awareness should be made of cases that have gone wrong!
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
[email protected]
phone 0412 437 582
Xenia
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@xenia
Join Date: 2002
Post Count: 1,231
October 17, 2005 - 5:38 am
How often are these meetings. I’m in Sydney on business every now and then, will be there next month! are they open to Adelaide people too?
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
[email protected]
phone 0412 437 582
Xenia
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@xenia
Join Date: 2002
Post Count: 1,231
October 17, 2005 - 5:34 am
Ausprop, Yes I agree, true wealth is created in capital growth, but you need a means to fund the shortfall while waiting for appreciation. If you don’t have a job (which I don’t) you need to either buy or create positive cashflow!
By the way, great website!
C@34, sorry to hear about your mum
where did your parents come from? Your story of procrastination sounds all too familiar! Sounds like you are on the right track now!
Xenia
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
[email protected]
phone 0412 437 582
Xenia
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@xenia
Join Date: 2002
Post Count: 1,231
October 16, 2005 - 4:05 am
OK, I’ll go first!
I started by default, my dad was a negative-gearing property investor, he bought one house every 2 to 3 years, then bought commercial properties and finally businesses. He maintained his job to service the shortfalls and when some of the very first ones were paid off, he retired at 50. With a lot of money!
Negative gearing works, if you give it enough time!
so I did, the same, bought one every 2 to 3 years (starting at 19), then bought commercial properties all the while thinking I will be working until I’m at least 50. Not much to this type of investing really.
Then came Robert Kyiosaki’s Rich dad poor dad. Where the words POSITIVE CASHFLOW jumped out from the page and kicked me in the head!
That was the turning point.
We sold all our negative geared non-performers, (much to my dads disapproval!), bought positive cashflow properties, and did some value ads like developments and renovations.
Then quit or jobs to do it full time.
dad is still having breathing problems over this one! He keeps telling me that property is for people with money, not for bums that don’t want to work!!!!
He’ll get over it [biggrin]
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
[email protected]
phone 0412 437 582
Xenia
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@xenia
Join Date: 2002
Post Count: 1,231
October 16, 2005 - 3:38 am
Michelle,
are we related? For some reason, you look very familiar to me[biggrin]
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
[email protected]
phone 0412 437 582
Xenia
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@xenia
Join Date: 2002
Post Count: 1,231
October 16, 2005 - 3:34 am
good point celevia, but we have tricks to sell at the price we want []
it all depends on what your exit stategy is and as investors, we are all different!
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
[email protected]
phone 0412 437 582
Xenia
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@xenia
Join Date: 2002
Post Count: 1,231
October 16, 2005 - 3:27 am
these are the ones that uninformed investors buy because they sought investment advice from real estate agents.
If there is a downturn in the market, these uninformed investors will be the first to feel the blow!!
I wouldn’t touch them except at 60% of their registered valuation!
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
[email protected]
phone 0412 437 582
Xenia
Member
@xenia
Join Date: 2002
Post Count: 1,231
October 16, 2005 - 3:23 am
Just goes to show, if you put enough effort into it, you could make money ANYWHERE!
The trick is to stay focused and not jump from one thing to another.
On that note…….back to property[biggrin]
xx
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
[email protected]
phone 0412 437 582
Xenia
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@xenia
Join Date: 2002
Post Count: 1,231
October 16, 2005 - 3:18 am
This one is for melb!
I dont know anything about inv detective, dont use it! But generally, tenants dont increase the value of residential property, unless it is specifically targeted to investors!
I would check comps in the area!
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
[email protected]
phone 0412 437 582
Xenia
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@xenia
Join Date: 2002
Post Count: 1,231
October 16, 2005 - 3:11 am
Sounds like a Huge Plan.
What are your level of experiences in the areas you are borrowing money to do?
For the business, you need a business plan, a marketing plan and an exit strategy and also, at least ONE person on the team that is EXPERIENCED
in starting up businesses. I don’t mean having experience in the thing you are trying to sell, but the business as a whole. Most businessess in Australia fail because they ARE too successfull and not set up right to begin with.
I would recomend you read the E-Myth Revisited By Michael Gerber.
The second big thing you are trying to do is a development. Before you start you need a full feasability study and again someone with EXPERIENCE!
I don’t know your specific circumstances or level of experience, those are great plans and they could work well, but they could also backfire very easily if you don’t have some serious plans and exit strategies in place!
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
[email protected]
phone 0412 437 582
Xenia
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@xenia
Join Date: 2002
Post Count: 1,231
October 15, 2005 - 11:29 am
Hey Jen,
There most certainly is a construction loan paid out in stages!
May be worth contacting Richard (QLD007) privately. He may be able to help out!
It dosent matter what state you are in. You have to send faxes and make phone calls whether your broker is next door or in another state!
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
[email protected]
phone 0412 437 582
Xenia
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@xenia
Join Date: 2002
Post Count: 1,231
October 15, 2005 - 11:25 am
what is the problem with a busy road?
Roads do not deter me at all, as long as the numbers stack up and the house is OK, who cares about the road? You’ll always find a tenant if you market well and you are a good landlord.
We have found that houses on busy roads sometimes come with deeper discounts, which means that profits are greater!
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
[email protected]
phone 0412 437 582
Xenia
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@xenia
Join Date: 2002
Post Count: 1,231
October 15, 2005 - 11:17 am
super is for people that don’t know where to invest their money! It’s a passive investment!
Being an active investor means you can make more money quicker!
Whether you want to be active or passive is your choice! I prefer to be active, I don’t have a single cent in super, but at the same time, my money is working hard for me!
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
[email protected]
phone 0412 437 582
Xenia
Member
@xenia
Join Date: 2002
Post Count: 1,231
October 15, 2005 - 6:52 am
I’ve made alot of money on negative geared properties in the past because there just “happened” to be a boom. Would only buy negative geared now, if I had enough positive cashflow available to cover the shortfall!
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
[email protected]
phone 0412 437 582