Investment Properties in Queensland

Powderfinger,

We can now call you a “Buyers Agent” can’t we.

MJK

Clint, a couple of basic questions first.

1. What areas in Qld do you propose to look at?

2. Do you have a ball park figure for the spotters fee?

3. Will the fee be payable on release of the info or on successful purchase?

Powderfingers…

Are you licensed???

I am investing at present up here in QLD..

What is the critera that you are using to determine that the properties that you are recommending are indeed cf+ ??
Wide bay to Northern QLD.. Why are these good areas to look at in your mind?

I started with $13,000 20 months ago, I have just increased my networth to $2,000,000 with the purchase of my 7th property.
I am interested to increase it exponentially in the near future.. So I am interested in your reasoning..

Cheers

Calron The Alcamist
Turning things to gold is fun.
[email protected] []

geez, just bought steves book too…..well guess you better get

“From $13k to $2m in 1.66 years”

published quick smart!

But them maybe someone will come out with a fortune book “……. in 0.8 years”

quote:

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Calron – you’ve increased your net worth to WHAT?!?? Wow. Congratulations.

Are you willing to share your core strategies – buy & hold, renovate, develop, etc.?

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Thankyou Melanie.
I couldn’t have done it without a few people.. My wife of course. A very cool boss who lets me work from home and look after his business as well as my property portfolio..

we basically got into the market here in GoldCoast QLD when we moved up from Sydney. 20% down into our first property being our Home. That 20% consisted of the $13 that was left of our savings/shares (shares went from $40k to $10k in a week because of sept 11) and the pay that we earnt over then next 2 months that we had to wait for settlement.

We took out a principal interest loan for the first year through a broker. I asked him at the time when we could buy another property, he said call him when we felt we we’re ready cos we should have no problems at anytime.
I was making alot of money back then ($120k), alot for me anyway at the time.

After 3 months we decided that we felt ready to go another, so I asked the broker about this. He said ok, go find the one you want. So we went out and found 3.

He used the new assessed value of our home to leverage against the 3 new properties that were in turn secured against each other.
The downside for this sort of deal meant that our solicitor had to organise 3 similtaneous settlements at 3 banks in 3 different states, each conferencing to each other so that the deal went off without a hitch. Our solicitor wasn’t happy with this, we have since found a better solicitor.

All of these properties are nicely +ve geared and over the next year all four, as far as the banks were concerned had doubled in value.

Chomping at the bit again, about 2 months ago after reading my first ever “property book” and getting rich book “Real estate riches” by Dolf de Roos ( I have until then, always hated people talking to me about them). I discovered the idea of using OPM. I have read a few other books since then on the subects of OPM and property.

So we refinanced keeping 20% equity in all of the properties. The reason for the 20% is that it means that we pay no mortgage insurance on any of the loans and the bank is happy with the LVR.
These 3 investments, we are holding for income sake. The capital growth is also rather good too. []

So we then refinanced and established credit lines for upto 80% of the values of each of those properties. From this we put down a 10% deposit for the Yves tower down in Melbourne. We were fortunate enough that my wife was designing the website for the developers, Sunland Group. They offered our pick of units prerelease.
This is a trade rather than investment.. We are going to flick it on when the time is right, but b4 it is complete. We have already been offered an extra $100k for it so we anticipate that in the next 3 years we should make a little more than this.

so so far we have the Home, 3 buy and hold residentials, 1 off the plan.

That brings us to the latest.

2 Commercial units in Brisbane CBD.
With 30% down using the credit line we have just picked up 2 commercial units that are returning a minimum of 10% from existing leases with options.

This brings up the 2mil.

We have 3 more prerelease off the plans that we have put expressions of interest on and they should be in our hot little hands next month.

We as yet haven’t done the build a property or reno or develop thing. We are fortunate enough though to have close friends who have done each of these, so we are going to learn from them the hows and wherefores and whos:)

The primary goal for me personally is to be retiring at 35 at the latest so I can bring up our son, who is due in December and one more when he or she arrives. It’s amazing how having children can allow you to focus.

Oh yeh, I want to buy a brand new Porche 911 carrera s4 by the end of next year, bought with OPM of course:)

I have found that sitting down and talking with other people that I have met, who are doing, who are wanting to do and who have done is helping me reinforce ideas and allowing me to invent ideas on my own, that are allowing us to escalate our investment strategies.
The main thing for me, is when people tell me that we are taking too much risk in doing this, I am thinking now that it is too risky not doing it..
Have no fear. In the word of Nike….. Just do it!

This is funny, but less than 2 years ago my wife was having fits at me when I was talking about owning 50 properties within 5 years.. Nows she’s asking if thats all we’re going to own:)

Flexibility and diversity is our key.. Keep exposure manageable and comfortable for your own peace of mind.

So. Timeline.
OCT 2001 – Home
June 2002 – 3 rental, Buy and hold
June 2003 – 1 off the plan pre release, Buy and Flick
Aug 2003 – 2 commercial, Buy and Hold
Sept 2003 – 3 off the plan pre release, flick 2, hold 1.
Sept 2003 and onwards – Lots More of allsorts.
December 2003 – Xavier Calvin is born.
b4 June 2004 – Buy Porche.

So I hope this helps.. If you have anymore questions then just ask..

Cheers

Calron the Alcamist
Turning things into gold is fun.
[email protected][][8D]

Calron The Alcamist

Thank you – I just read about about your successes in property investment and you have inspired me again. My husband and I are 28 and have 3 IP – but no home as yet. I know that if we sell some investment properties – buy our home and start again with investment properties – that we too can find Postivity geared properties and I can stop working and we can start thinking about baby palns! Thanks for helping me focus again and know that it can be done