Its like finding the Loc Ness Monster, or A Mermaid, I hear it but I dont see it.
Perhaps this is due to the doubling of property prices over the last couple of years?
I spoke to my mate in Dublin today and we chatted about his IP in Penrith, he had no idea to say the least as to the amount his IP was now worth. He paid 155k for it back in 96 with a rent return after PM fee’s of $220 per week.
I told him it would now fetch around the 380k mark today. He said his rent return was now only 240 after 8 years! Perhaps this is due to all the duplex and townhouse construstion going on, as well as Glenmore park providing oversupply of rentals.
Anyway, we talked about doing the same thing in todays climate, it worked out to be financial suicide basically.
I told him I have been scouring the bush for sometime but it seems that anything even remotely resembling +CF are scooped up before they even hit the tarmack! Where are they? I feel they are like dinasours just after a life ending comet!
I know you guys claim they are out there (xfiles) but where?
I have communicated with a fellow member who scours the regional area’s and even he told me they are out there but its almost impossible to get a property manager to look after it which really puts you in a bind.
So show me the money! Put your money were your mouth is and come up with the goods! As each day passes they become more and more miniscule, bit by bit they will surley dissapear into the great unknown…………
Prove me wrong, tell me I am a fool do with me what you wish but please dont tell me lies[blink]
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….”
well Glenmore park isnt the place to be looking! Over priced, squashed in little boxes on tiny little blocks, or known as roundabout city. Make a motza for the tyre companies!
” a blind man may see what a sighted man may not”
I did not say that I was looking at Glenmore Park, I was referring to it as a possible factor in small rental returns in Sydney elves…show me the money!
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….”
Just as i thought………..no takers eh? Plenty of hot air though!
I recently found this comment on another thred………
“Basically it is the 11 sec rule.
Take the Rent, divide by 2 and multiply by 1000 gives you the price to pay for a 10.4% return. This should just about make the property cashflow positive.
$180/week rent will make for a property worth $90000.
You could also do a search for postings on the 11 sec rule.”Where on god’s earth can I epect to find an IP that fits that picture?[angry2]
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….”
“Just as i thought………..no takers eh? Plenty of hot air though!”
Ever herd of going to a different state??????
Or looking a bit harder?????
Just becaue you can’t find the deals, dosen’t mean there not there.
You might have to even change strategies.
So sorry not everyone rushed to your post but many of us have better things to do.
Rgds.
Lucifer_auI bet one thing Luc, I have traveled the regional area’s of our great land more than most by motorised transport and not electronic. I work in the bush, from Vic to Far North Queensland.
Obviously your a bit agro for some reason mate, there was no need to take the hot air thing to heart, I mean, did I mention your name?
So what makes you think I am sitting on my ass?
Just like Loc Ness mate, just because I cant find one doesn’t mean it aint swimmin in the lake………….
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….”
Sorry Luc and fellow board members if I have offended you, just getting hot under the collar and blowing my own hot air.
Things are getting scarce………
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….”
Wait for the bust or become a bank(wrap) like many others on the website, if you don’t value your dignity.
I know what you mean big country towns are now out of reach! Anyone who invests in a little country town which relies on the local footy teams end of season trip as its economy. Might be in a bit of trouble in the near future. The administrator has started to look overseas so it show how many low risk positive cashflow opportunities really exists in oz!
Mysta,
It’s YOUR post that comes across as a bit “agro” as you put it…
We could put our money where our mouth is… or show you the money, as you keep saying… however, it might be necessary for you to show YOUR money- to a spotter. If you think that CF+ properties are akin to the Loch Ness monster, and if you won’t be happy with 7%, 8% or 9% returns, as some of us are… then you might need to pay someone to locate you a property.
Westan and Mini find people CF+ properties in NZ. Bear1964 and RussH do it in Australia.
kay henry
Hey guys they are still out there.
Found out today that I cant legally act as a spotter in W.A. Bit of a bummer as there are still good deals here.Just a matter of lining them up with the right investor.
But there has to be a way around this problem.And i,ll find it for sure.
I am negotiating on a deal at the moment.No money down and returning over 10.4% for 24 weeks of the year.I think I can better these figures.So keep on looking guys.Nothings impossible.So many +CF properties in Western Australia.Wish I could help.But the governments canned me.Russ.0438 659 411
Russ,
A couple of Q’s for you please
(1) You said it gets 10.4% return for 24 weeks a year. What does it get as return for the other 28 weeks?
(2) How come you can’t be a spotter in WA? What Rule/Law is it that prohibits spotting?
kay henry
Property i am looking at is in holiday area so I only calculate returns on busy months of year ie. 24 weeks.But I think I can get returns for a greater period with a bit of work.
As for spotting I got a reply today from the dept.consumer and employment protection in Perth and they say I cant act as a spotter in W.A.
Could be up for a fine of $20k per offence.
RussSo many +CF properties in Western Australia.Wish I could help.But the governments canned me.Russ.0438 659 411
Mysta, if you can’t find cash +ve props, can you make them?
Maybe consider extras and unorthodox tenant groups. You may have to get your hands dirty instead of relying on pamphlet house prices and Real Estate Agent Property Managers.[curtain]
Russ, Have you considered doing the 2 week R.E. Agents Representative course and throwing a few bucks to the dodgiest agent you know to operate under his licence. (i am from vic, not sure if that is the case here!),
I wonder if this would legalise such spotting?
[idea][square]
lifexperience
I guess its getting harder, as you guys said, and I suppose writing a best selling book on how to get 130 house’s in under 4 years doesn’t make it any easier[blink]
I just get a bit to caught up in it all and when something excites me like all the info on this forum I start to put the blinkers on and jump[withstupid]
Needless to say I have calmed down a bit and after talking to a good mate of mine who works in the FP industry (his company is endorsed on this site http://www.dollarforce.com.au)(free plug mate) I have come to the conclusion that focusing soley on +CFP is not the way to go.
I have to do the KFC combo pack and stop beating myself up, you know, throw some dosh at my home improvement business get some decent shares etc. I have 450k that the bank wants to give me and one year to spend it in but I dont want to put another noose around my neck either.
Having heaps of these little cash+ numbers sounds enticing but the reality is that you can soon go from property investor to property manager real quick, I have a one or two and that’s enough of a pain in the arse!
Anywayz, thanks for your humble advice guys I think your all legends and I will see you at the TOP![lmao]
“Dont be looking in your back yard for a four leaf clover when the opportunity of a lifetime could be knocking on your front door….” “Even though you may be on the right track, you can still get run over if you sit there long enough”
You must be logged in to reply to this topic. If you don't have an account, you can register here.
