Eternal_Life,
The two IPs I bought in Logan City, QLD. It is halfway between Brisbane and Gold Coast.
Kind regards
Chandara
[Keep going, you’re nearly reach the end of financial freedom]
Hi Julian,11 properties this year as currnet but given a few days the new total will be 13. Been investing for over 9 months now.
Though not all my properties are positive. I target all 4 main areas of property investing.
Positive gearing
Negative gearing
Passive gearing
Neutral gearingUsing the offset gearing principle as my purchasing strategy.
cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”
Gday, can you explain to me what the offset gearing principal is?
Thanx1) When you purchased your investment?
2) How much you paid for it?
3) What structure is the investment (eg: buy and hold, vendor wrapping etc.)?
4) What is the weekly gross rent (income)?
5) What your net Cash Flow is?1. Start of 2001.
2. $170,000.(valued recently @ $340,000)
3. Buy and hold.
4. $385
5. Not quite sure what you mean as I’m starting out here, but after all expenses around $2000-3000 p.a. in my pocket.1) When you purchased your investment?
2) How much you paid for it?
3) What structure is the investment (eg: buy and hold, vendor wrapping etc.)?
4) What is the weekly gross rent (income)?
5) What your net Cash Flow is?Property 1
1990
$94,000
Buy & Hold
$180/w
$34/w
(current value $200,000 & valuable lesson learn’t here…..property values eventually rise if you hold on long enough)Property 2
June 2003
$125,000 + $20,000 reno
Buy & Hold
$220/w
-$12/w (not allowing for tax deductions….constructed in the month that Capital Building Allowance @ 4% brought in….this was a bonus as I was unaware of it at time of purchase)
(current value $175-$180k)Property 3
August 2003
$165,000 + $9k reno
Buy & Hold
$290/w
$21/w
Current value $200k+Properties 2 & 3 were purchased without +CF in mind and were the result of reading Jan Somers’ book.
I guess I was just lucky that I got marginally +CF on one & marginally -CF on the other.
Capital Gain has made up for slight -CF and tax deductions will make even sweeter.I think the main thing in my situation, was to have gotten back into the market, after seeing property 1 value go backwards and stabilise for so long. (just glad I held onto it….valuable lesson learnt)
P.S. great idea for a post.
sis,
Where did you purchase your IP’s? How have they doubled in value over 9 months?
As for me, no pozz IP’s, but 3 IP’s I am happy with
))kay henry
Hi Kay Henry,
Majority of the properties have gone up in value of $40k and up, one of my negative geared properties went up about $150k in 2 months, the market value for it, is now around the low $400k and is situated in Wavell Heights about 10mins from the heart of Brisbane city, the first 3 i purchase are about double the price now. With a currnet market value of $220k – $270k each. Most of my properties are in metropolitan areas, though i only have a very small few, purchased in country towns.
But for about 5 of the properties now, they are all over and above the $200k mark.
cheers,
s.i.s“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”
http://www.theenlightenedway.com/tools/mil_calc.shtmlThese stories have been truly inspiring. Thanks for sharing them!
Chrys
bought land for 77grand and sold for 97grand within 8 weeks .(flip sale)august. purchased block for 116 grand in october now approx 135 grand . i have just extended the settlement and am ready to flip sale it in feb.also have ppr with equity ready to go for an ip .would u believe i dont own a car.i have learnt so much about my local area by riding that i have only ever bought locally.happy to flip sale good way to make money with no capital.constant searching and due dilligence seem to be the keys to success.
I dont mean to dampen the enthusiam because its great and very motivational.
The deals that have been mentioned I cant help but be a touch skeptical about. Not because they are not true but because they could be misleading to a new invester expecting large growth immediately.
I too have had great capital growth and get a +CF so I guess I cant complain but I think you have to be prepared to take the good with the bad.
sis,
Given that you now have a property portfolio of about a million and a half bucks, have 11-13 IP’s, are 21, have been investing for a total of 9 months, and have only part-time work, I am sure that Australian Property Investment Magazine would love to profile you. They are always looking for successful investors.
kay henry
Hi Kay Henry,
Thanks heaps, though sounds like a good thought, though, i rather just think, ive been lucky and share it with you guys, the more successful stories to me, are single parented parents, bring up a few children and managing a full time job, while also managing a property portfolio….. to me this is more impressive and a much higher and better achievement, and something that i would be more enthusatic to read and put a smile on my face.
Thanks heaps though
cheers
s.i.s“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”
http://www.theenlightenedway.com/tools/mil_calc.shtmlS.I.S. I think you are far too modest.[
]Although reading about you in API would probably just make me even more jealous![
]Cheers
MelWow .. I’m happy to see that people are still finding PGP (Positively Geared Properties) and are closer and closer slowly but surely to their GOAL !
December 2003
Bought 4 properties (2 maisonettes)
1 for $ 127,500 rent $260 other $ 84,500 $ 220 rent.
Strategy Buy and Hold altough might change in the future.
Hey Melbear,
dont worry, no need to get jealous at all, if anything like that happened, ill say that i got an older sister named Mel and shes the real successor, [
]cya later sister[
],
s.i.s“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”
http://www.theenlightenedway.com/tools/mil_calc.shtmlDear s.i.s.
I’m not yet a success story, but I am a single parent, raising four gorgeous children. Started in property with the purchase of my first home at 19 yrs old (bought for 75K and sold after reno ($40K) for $250 three years later. Did it again a few times, but lost all [
!] in a retail business that went down the gurgler when my marriage ended. “Back on the horse” after laying low and being a mum for a while. Not yet leapt in for the first cashflow positive purchase, but currently in the middle of another reno./subdivision while doing stacks of reading/research. Need regular cashflow to satisfy my personal goals, so will leap over my fear of failure soon [] – really love and appreciate all the info I’m picking up via PropInvest.comRe this current topic – seems like everyone is crowing about their good capital gains over time, rather than immediate or sustainable positive cashflow ????
Anyway – keep watching this space….hopefully might one day soon be elligible for a profile in the Aust Property Investment magazine!!!!
Hi Kay Henry,
Thanks heaps, though sounds like a good thought, though, i rather just think, ive been lucky and share it with you guys, the more successful stories to me, are single parented parents, bring up a few children and managing a full time job, while also managing a property portfolio….. to me this is more impressive and a much higher and better achievement, and something that i would be more enthusatic to read and put a smile on my face.
Thanks heaps though
cheers
s.i.s“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”
http://www.theenlightenedway.com/tools/mil_calc.shtmloct 2003 in tas
$70 k.
but and hold
$120 a week
our first waiting to settel on no. 2 in broken hill $14. k
reno and hold
rent $80 a week
burbonbillHi everyone,
I find this inspiring too.
But I would like to really know SIS how you got the bank to lend you the money if you only have a part time job?
This is our main problem, I work casually (but in a reasonably good paying field at about $45 per hour, and husband is currently unemployed but has a bit of a medical pension.We have seen one mortgage broker who told us that even with a lodoc loan we could only borrow about $50,000.
(We own our own home-the mortgage is on half of it).
What I’m hoping for is perhaps we take that first small investment loan and make it as + geared as possible, thus showing how viable our investment plan is.
Then perhaps once we have done that, being able to buy our second one maybe 6 months later.It’s really baby steps for us at this stage.
Carrington, did you get a second opinion? Contact one of they guys or girls on this site, and see what they say.
Cheers
MelG’day all,
I can’t find any positive geared properties on the Northern Beaches(Sydney).Been searching for years.So I’ll just stick to my negative geared properties. I have four with the value of just under three million dollars.
Sill_ in _ school, you’re a real goer. You would
well be worth having a beer with. Maybe some day
it will happen.
Bruce G.
I’m back!!!!!
Don’t mention NOSES!!!!!Thanks Melbear,
That’s exactly what I’ve been thinking of doing, but first we need to get my husband out of this house. I am also 20 wks pregnant, so the pressure is on for him to earn money, as I’ll be out of action soon.
We are going through a huge obstacle or two, but we won’t give up. I guess as I approach my mid 30s I don’t have much time left biologically, so thought I should complete the family -and in the mean time we educate oursleves financially.
Like others, we have made some really stupid mistakes in the past, prior to discovering Steve, Jan, etc.
))
]
]
!] in a retail business that went down the gurgler when my marriage ended. “Back on the horse” after laying low and being a mum for a while. Not yet leapt in for the first cashflow positive purchase, but currently in the middle of another reno./subdivision while doing stacks of reading/research. Need regular cashflow to satisfy my personal goals, so will leap over my fear of failure soon [
] – really love and appreciate all the info I’m picking up via PropInvest.com
You must be logged in to reply to this topic. If you don't have an account, you can register here.
