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I dont have experience but would like to know as well.
I would have thought you would need to come up with a 20-30% deposit and then find finance in Nth America.
My wifes family is in Canada and we would like to buy there one day or in the US in a town near the US/Canadian border.
Can you please email me. I am in Vic?
Do a search. I have seen a few checklists floating around on these forums.
If you are starting to make a business out of your ve+ properties why not approach the bank for commerical lending.
The other avenue that may be open to you is to approach your local solicitor and see if there are any solicitor funds that will lend to you as security against future properties.
If you have a track record and been doing it for a while – why not.
Good luck……
For those back at work this week and not logged on during the weekend.
What did you guys do propertywise on the weekend?
<<<<<<<
– Purchasing a +ve C.F IP (good)
– Purchasing at inflated price (bad)
– Returns may be up to 15% C.F-wise p.a (good)
– Need to wait until the next boom to perhaps only just realise your price originally paid due to REAL property prices (with inflation removed) -(bad)>>>>>>You have summed it up well. I have been trying to say this, but you have said it in a good straight forward way.
Good Stuff.
I too am going through the same dilemma.
I have a great tenant (and thats what the other owners say too) whose lease has ran out and is paying $155. Its a 2 bed unit and the front one was asking $175 and the owner in a body corp meeting told me how much bigger my unit is. I think he probably got $165-$170 in the end as it was unoccupied.
I have a property manager and I let them make the decision. So we have bumped the rent up $5. I do feel a little guilty (but I shouldnt) because I am told she has two young kids.
Worse case is she leaves. She has been there for 3 years and I expect her to stay. When I last spoke to property manager she had accepted the rent increase but not signed a lease.
So time will tell.
Your entitled to your opinion and hopefully you allow me mine.
$1200 for 10 hours tuition with 120 people in a room is not value for money in my view.
But the market determines rates and there are obviously interested people around.
Thats it for me. I am Moving on to different topics.
Mini
I am not a non believer. There is always a place for ve+ properties.
I have a similar background to Steve. I too am an accountant. So I believe he is ethical and trust his intentions.
Its just that I think now is a very difficult time for ve+ and to charge people alot of money and they expect some rainbow is unrealistic. And then they go out and buy these places and I expect things will not turn out as they would expect in 3-5 yrs time.
There is no doubt that Steve has probably been more successful than me. But that should not stop me from issuing a few concerns.
But at least people can make up their own minds. If I never questioned my parents opinions I would never have bought my first property.
As for my childhood – what has that go to do with anything.
As for spending $7k on a $19k property to make no return, I would rather spend $7k on a $200k property to make a $30-50k gain. Each to their own.
Good luck and allow me to offer a differing opinion.
Chan said – Guru will come and go where as real investors will be around for along time.
I agree. Henry Kaye is gone. Who is next?
I just received the following – Break Free Events has just sent out a 16-page advertising spiel on their ‘Secrets of Growing Rich Super Conference’
Sounds like Dymphna Boholt is just Ed Burton in drag. The advertising material is ALMOST the SAME.
None begrudges Steve and Dave for the seminars. Its all market driven and priced accordingly. Lets see what the price and demand is in 2-3 years.
What most of us dont understand is what you get out of a high priced seminar that you dont get out of doing it yourself and by reading a few books on the subject.
We dont need to be told we are jealous or not successful in what we have done. Ve+ is just one of many property stratgies.
All the successful property investors, builders, developers, renovators I know never attended a seminar.
He is going to the auction with me. Best get him started early.
Then we are off to the park and watch the local aussie rules team play a practice match.
If he does things I like, then its only fair I do some things he likes like running in the park.
You only wanted constructive comments so I was not sure how you would react to my comments.
1. Are you happy with yield?
2. No Car Parking unfortunately – that worries me a little.So I dont know if you have missed the boat or not.
What boat are you talking about?
I have mainly bought 2 bed units. In hindsight houses would have been better.
A 2 bed unit described would be about $250k and rented for $200 per week. In Frankston a 2 bed unit in Sth Frankston is about $200-$220k and rents for about $160 per week.
If you could afford it buy a house as it had a larger land component but will cost more on a monthly basis.Just look at realestate.com.au and realestateview.com.au The agents are all the same.
I have invested in Mentone and Frankston. Capital gains have been very good. I am not buying now and am consolidating.
But I like Sth Frankston. There is a huge amount of investment planned for frankston eg. Marina, new shopping centres, picture theatres etc.
Prices have already gone up, but I expect more growth as the developments get off the ground.
I think the building of the marina is now at tender stage for builders. I would live in Frankston except that I work in the city.
Sounds like a good idea. You could have different pieces – instead of a car, ship, cannon etc you could have a Steve McKnight, Jan Somers, Henry Kaye, Neil Jenman pieces.
Rubbachook – looks like you got more time on your hands than me!!!!
[thumbsupanim][specool]
Thanks
I read the article. Just the same ole stuff the newspapers like to recycle.
I do believe prices will stablise or go down a little over the next 2-3 yrs. I am a long term investor so I am sitting tight and consolidating now.
