Tip,
never believe what the real estate agent tells you, always double check his/her information from a reliable source.Lead, Follow or get out of the bloody way
tips:
A)Dont smoke in bed…
B)Bite off more than u can chew.
C)NEVER<EVER take advice,or be swayed by negative people.
D)If possible,find a mentor.(If not,chat on this forum!& have many!)
E)Read,read,read…until ya eyeballs bleed!
F)Ask as many qu’s as u can,to anybody,then double check it with someone who knows!This method saves alot of time & money asking the knowledgable (& expensive) pro first up.
Hope these help.-Get good control of your finances first. If you cant manage what you’ve got, then you’ve got no chance of managing multiple investment properties
-There is a price for locals and a price for everyone else
-Understand the value of money. Every dollar is worth a lot in future dollars
MarkyMark
Look for the ‘silver lining’ in your property quests..!!
a recent job helped me to cross two towns of my list, and i was paid to be there..[biggrin]
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculatorredwing :o) Good point. I go to three or four conferences a year, and the last one I went to, I checked out my IP, and signed my contract- it was good timing for me :o)
Conferences and work-related trips are a great way to check out RE all over the country, and to check out the “vibe” of a place.
kay henry
Tip:
Remember there is no cooling off period in Tasmania, its cool enough at the moment.Do hotter States have longer cooling off periods?
Thought,
What is the return on investment when the investment is nil? (property bought, then renovated, then revalued then,100% refinanced.)
Tip:
A verbal contract is not worth the paper it`s printed on.[email protected] Always have cashflow positive Tasmanian commercial properties
availableTip:-
Keep details of all your financial transactions on your home computer (yes home stuff like kids clothes, groceries, dinner out etc. as well). This helps you track not only IP performance, but highlight areas of personal spending you may not be aware of or not like. Therefore save you money, which you can then invest!Regards
Patrick
The dumbest question is the one you don’t ask.
garrytas,
There is no cooling off period in WA either. Hence:
TIP: Do your checking BEFORE you sign the contract. (I do this anyway for my IP’s- cooling off period or not).
kay henry
Always look for something extra – some properties have that extra bit of land, some have better fittings (eg increased rent or decreased vacancy), some are at a bargain price – why buy average?
Good deals, by definition will only be a small percentage of available deals – don’t buy average properties – any mug can do that – take the time to find ripper deals.
A special benefit from the property means you’re ahead at day one. People who say you can’t buy better than the market average should be avoided.
Also, know what type of profit you need – what’s a good deal for others might not suit your needs – there are many ‘good deals’ that might not suit you – figure out what you need and get out there and find it.
Finally – desperation is a bad (very very bad) motivation – realistic expectation of profit based on solid research is a good motivation.
Have fun finding em
Don’t turn up in the Rolls if you’re about to play hard-ball with a low offer.
Tip:
Always put a get out of jail clause in your contracts.Tip:
Always keep learning.Tip:
Find a niche/strategy that is succesful and then repeat.Rgds.
Lucifer_au3.
100% loans when starting out are frought with danger.why do you say thay?
Tip: never tell an agent your budget as they will only show you properties close to it and prevent you making rediculous offers on higher priced properties. Makes it harder to find or create bargins!
Hi All
I just stumbled upon a great website run by the federal government.
It basically contains a log of all disasters for a region – and it is searchable.
Maybe good to see if the area you are buying in is flood/bushfire/storm prone etc etc.
http://www.ema.gov.au/ema/emadisasters.nsf/webpages/HomePage?OpenDocument
Cheers,
Andrew.1. It isn’t how many times you fall over that is important it’s how many times you get up.
2. Value is a perception that is created on opinion and price is what is paid.
3. The adivce of others is just their opinion, search for the facts and form your own opinion.
4. The person who is the most flexible in a deal will control the deal.
5. Always check the ecology in a deal, is it good for the other party, good for you, good for the community, good for business and good for the planet.
Ciao,
AaronTip:
Do not let other peoples ignorant and negative opinions, stray you from your path.
No-one can ever truely achieve success without stepping out of their comfort zone and taking a chance.Tip:
Your attitude, IS EVERYTHING!![8D]Ryan Crawford…
Tip:
Lower your gearing / leverage / LVR in a rising market. That way you can ride out the subsequent bull market without falling into negative equity.Tip 1 : Chat to as many older people as you can about their property experiences. Try and find one with a decent memory for figures…
Tip 2 : Try and learn as much from people who are a little further down the investing track than what you are right now. Someone miles in front is probably of little value to you as their techniques will be different.
Tip 3 : Get a cosy relationship happening with your banker – they will end up being your closest partner in the property investing game.
Tip 4 : Never miss a payment to your Lender.
Tip 5 : Try and buy deals where the land component is greater than 85% of the total property value – hard to get +CF with this scenario but not impossible.
Tip 6 : Configure your ownership structure to protect your ever growing asset base.
Tip 7 : Don’t lose sight of your most valuable assets – your immediate family members.
Tip 8 : Be good to your Mum !!!
Cheers,
Dazzling
“Go hard or go home”
[rolleyesanim] Tip
Never believe all that you read especially when it comes to property investing.Dazzling i’m with you on Tip 8
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculator
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