Hi Richmond,
We also settle on a couple this week. A block of 5 units, and also a house. All +ve cashflow.
It is hard finding em at the moment though, so we’ve decided to go down a side road for a while, and today we made arrangements to subdivide a block of 4 units and sell em off one by one, possibly by vendor finance. The subdivision should take about 4 months apparently.
We are still looking though, and we’re off this weekend for a 400km DRIVE !! Who knows!
MICHAEL & KAYE,
Congratulations on your lifestyle change. You will love the change away from the city. We couldn’t move back to the ‘burbs now. We have an asparagus farm down the road, and we live on a 20 acre hobby farm with a few horses, sheep, galahs, cats, dogs & 2 kids. Life is fun!!![8D]
Best of luck everyone,[
]Will & Del
Hi Michael And Kaye
Being a fellow Maitland person how could you think about moving away from this wonderful town.
I live on 20 acres out at Woodville and can honestly say that it is one of the nicest places I have lived and I have lived in a few.
ErikaHi all,
We are also sitting, deciding, deciding. Whether to sell up and move to the country or to keep investing. Thanks to some help from someone in the forum (you know who you are[
] we will eventually make our decision. I guess it all comes down to options, what you have to make those options work, and which ones you take.P & T
Hi Richmond,
I’ve been doing a lot of research and as I’ve said earlier, it seems I just miss out each time.
Unfortunately, it seems that the few places that the figures look good there is also 200 rentals on offer in the general area, although not strictly regional properties.
I’m still researching (never ending) and still trying my luck to strike that good +ve cashflow property, I have one IP under my belt.
I myself suspect that as soon as rates rise I’ll be able to pick up a few good deals. I work in finance and can’t believe some of the deals.
It does strike me though how many people have invested in -ve geared properties and don’t realise or understand the concepts of what they are doing. Probably explains why finance staff will no longer be able to discuss anything not even of a personal nature to customers they may have had dealings for years with regards finance.
Sorry for carrying on a bit.
Regards and Best Wishes to all.
Hi again all and especially to Michael and Kaye, congratulations to you both on making it happen. I think that is truly fantastic but hope you keep contributing to this forum as I for one have enjoyed your well meaning and “speaking from experience” responses. To the subject; I’m just seeing what happens for the moment with interest rates, housing prices etc. Trying to reduce a bit of debt to free up some equity, but of course if a good deal comes along, well, who knows.
Cheers
Marty
Once again, good on you Michael and Kaye, you’ve made my day so one can only imagine how you guys feel.Michael & Kaye good luck with your move to the country, I hope it works for you, we didn’t have so much luck, we purchased 40 acres 40 klms south of Bendigo, for the intention to grow organic crops, a whole new lifesyle from the corporate world, it didn’t work, water supply was down, cost of everything from soil to gravel was nearly double of what you’d pay in the city, then the machinery broke down and it cost us $ 5,000 to fix mind you it took 2 months to fix the machine and the thing is there’s no one else around for aleast 30 klms,NO COMPETITION food was more expensive, but luckily we made friends with the farmer around the corner who produces his own meat. Look I’m not trying to discourage you, just warn you that the country’s not always greener,we still have our property but we ended back in the big smoke, actually saving alot more money. But good luck and I hope your venture alot easy than ours!!!!
PS: be ready if your going to a small town, they seem to know more about you than you do, and funny you haven’t even met them. Also, they won’t classify you as one of them for at least 20 years. Strange but funny!!!Hi all,
My wife and I are “baby boomers” but not your cashed-up types. We,ve made several bad property buy and sells over the last twenty or so years. seems we had perfacted the buy-high-sell-low technique. plus a couple of “between-jobs” that the bank hust didn’t understand.
However, we now live in Esk in Qld. It’s a hour and a bit north=east of Brisbane and it is paradise. We bought a 2 bedroom qeenslander and a quarter acre with no garden just over twelve months ago.We’ve added two bedrooms, a double carport and a full front and back garden. We did all this ourselves for about $20K and added about $70K to it’s value. WE’ve built two beautiful homes as owner-builders (the only way to go) in the last 15 years only to give them away for various reasons. It bloody hurts when it’s your blood, sweat and tears in it.[]
As we have no super or rich rellies, we need to invest in a positive cash flow environment for our retitement-I’m 56 and Jo’s 57. We have REAL motivation for this enterprise so this time round we MUST do it right.
The advice and mentoring on this forum is a credit to you all. I’m sure we can do it right now. The first one’s not far away now []Have a great day
Robert
Veni, Vidi, Vici
Hey Richo.
I am still buying at the moment. Talking with an agent at present about another handful.It is getting harder as wilandel said but the deals are out there you just gotta think outside the box (but you know this). I know there will be a time where I may slow down some but at present I am having too much fun on the rollercoaster…..
Enjoy
AD [:0)]
(Andrew)“Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired, and success achieved.”
hi richmond
you say you have just settled on 4 props this week.you must have plenty of spare cash to do this?please explain how you do do this.l am envious.
cheers lynnemI just (Tuesday) bought off a house at westminster in Perth. WA is the place to be at the moment. If anyone looking for a property for LONG TERM investment, north of Perth within 15km is the place to invest.
You never go wrong if you think about in the long term basis. In short term who knows.
Paul
hi lynnem,
combination of working hard, saving my butt off and using a line of credit.
cheers
rHi All,
I have 2 IPs. I want to sell 1 & use the money to buy a house for my son & an IP in another state. I can use equity from that IP to do so but choose not to because I don’t want to owe the bank too much money at my age. I’m very sensitive to stress & value health, family & people around me much more than money. My aims are to give all my children (1) a good education, (2) help them to own a house or an IP if possible … and (3) make my childhood dream comes true : to own an orphanage.
I’ve been talking to my kids about what I’ve learned from this forum.
Many thanks & regards
Huey
Huey,
I admire your attitude. You’ve summed up one of the really important things about this whole “game”. That is that you have to have your own goals and aims and work towards them in your own way. There’s no point trying to make a fortune just for the sake of it. There has to be a purpose.
Rod.
]
] we will eventually make our decision. I guess it all comes down to options, what you have to make those options work, and which ones you take.
]
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