Oh thank you Marc
Very sweet of youHi Mini,
I noted your previous reply to Torachan, where you offered to help him (her) find a CF+ IP within 3 months, just because. And because you like a challenge.
Well if Torachan didn’t take you up on it, or you would like another challenge, can you help me?
Regards,
eeshole
Okay, eeshole, why not?
Email me.
cheers-
MiniHi guys
Thanks for all your help, and advice – It is most appreciated – Hubby and I are continuing with our plans which are becoming more defined and of course learning and reading heaps! The biggest decision is whether to sell or not to sell – If we sell now we know we won’t be able to buy another property for the same price as we paid for our original ones, and if we do sell it means that our mortgage payments will be reduced significantly as we have made a 50% profit on our rentals within the 6 months of having purchased them and have very low mortgages on them. We have great Long term tenants in 3 of our properties which we manage ourselves and have decided to sell 1 of the 5. The one we are unsure about is a beach property which is likely to increase in value over the next 5 years but having the extra equity now would be good. I know that there is always a good deal around the corner – it just comes down to how hard we are prepared to live it now – right?
Cheers
TinaWell done Tina, you seem to be making those sometimes hard decisions. Our strategy is to buy 4 and sell 1 every year. This shows as income for the new loans if done right and refreshes our portfolio as well.
As last year we bought a biggie(PPOR) we sold off 5 ip’s to get the mortgage down to something reasonable. Since then we have bought 2 and sold one to refresh our portfolio.
Always looking for a good deal and glad to help others with ideas as well. We did the big ask of ourselves as to which to sell last year and it wasnt easy. We have done it though and have moved on with a cleaner portfolio and a lust for more property.
We settled on one 3 weeks ago and the wife says ok where next. We treat it all as a constant evolution and the 4 steps forward one back keeps us mentally aware of all of our portfolio and whats performing and what is not.
Dont be afraid be decisive. Once you have made those all important decisions take a deep breath and do it without looking back.
Best wishes and keep moving onward and upward.
DD
PS146 Certified Financial Planner and Buyers Agent
Don’t sweat the small stuff,and it’s all small stuff!!Originally posted by Brisbane 04:
Hi Tina, Hope you are still reading this thread,the last 2 entries are from people who know and have been in the game (Mini and Don and Liz)they wont sugar coat it they will tell you how it is, these are the type of people you will benefit from.As you continue to be part of the forum you will recognise the people who have something to offer and those that dont.Love your response Mini.[biggrin] MartinHi Tina
I’ve only just come on board, but read the whole thread. As someone who’s been around awhile, I’d like to second everything Martin said above. I’d also add that you’re getting quality advice from a lot of highly experienced investors who exhibit variety and a healthy mix of diverse investing styles.“Lust for property” is what it’s all about, then looking at proven strategies which help you BALANCE your portfolio. To that end I’d like to recommend:
1. You divide your time equally between http://www.somersoft.com.au and this forum
2. Do Searches on both Somersoft and here under the following people, and read their posts /literature /websites EXTENSIVELY:
~ Peter Spann (His 2 absolute MUST READS from your nearest bookshop: “Wealth Magic” and “How to Build a $10 Million Property Portfolio in 10 Years”)
~ Steve Navra (“Living Off Equity”, “Dollar Cost trading” and Navra Invest). Seriously consider going to Navra’s and Spann’s seminars.
~ Michael YardneyHere’s a couple of posts taken from Somersoft which show why:
#5
30-07-2004, 09:49 PM
thefirstbruce
Member
Top 100 Join Date: Dec 2003
Location: Mooloolaba, Qld
Posts: 315
Be careful, See Change. When an investment idea hits the forums en masse, then you just missed the ramp and are now on the plateau… Anyone know their economic cycles well enough to guess what the next big thing after resources will be? I’m confused….. Following are the clock hours and corresponding economic conditions….
12 top of boom
1 rates up
2 shares down
3 commodity down
4 moneytight
5 property down
6 recession
7 rates down
8 shares up
9 commodity up
10 easy money
11 property up
Does anyone have any comments about these seasonal share market trends…. Noted by a reputable Aussie share advisor…..
Jan-state of market at end of Jan predicts the rest of the year 9/10 times.
Feb- downward correction- considered bad month for market
Mar- march and april better
Apr-
May- minor peak in May
Jun- nasty month, good time to buy.
Jul- rally- one of the best months for market 6/7 yrs.
Aug-
Sept- early sept often sees market peak
Oct- often some gains – but can be huge swings
Nov- seasonal low late nov- early dec
Dec- Santa Claus market- about week before chrissy- prices rise from here till Jan. 37/43 years pre 1998…if doesn’t happen, the following year is dicey. Wall St gained 1.5% in last 7 trading days of DecAceyducey
Originally Posted by thefirstbruce
Be careful sc. When an investment idea hits the forums en masse, then you just missed the ramp and are now on the plateau…
Actually, from experience, that isn’t true. Posts in this forum (Somersoft) generally are leading the market. PI (www.propertyinvesting.com) tends to be behind the market. I compare the discussions on the two to help pinpoint where the market isAcey Ducey’s a stirrer, but really knows his stuff. My tip: You need both forums.
Cheers
Greg
PS: If you MUST sell (I wouldn’t, unless you were going headlong into NZ with Mini and USA with Westan: take them both up on their offers), I like the “sell 1, buy 4 new ones” each year. Brilliant!!Hi Tina,
It sounds as if you are getting the idea.There is no wrong way or right way to invest in property everyone has their own style. Some people mix it up, some people stay with the same plan. As long as you are well researched and have thought things through and are comfortable with the course you are about to undertake go with it.Another book I would recommend is Rich Dad Poor Dad it certainly provided me with inspiration to get into property investing.Use this forum as a way of gaining different ideas on how to invest, also the members will help you with problems that may arise, bounce ideas off them but remember there is no right or wrong way and anyone who pushes their views as the be all and end all are not to be listened to.[biggrin]There are 3 types of people:1. People who make things happen.
2. People who watch what happens.
3. People who wandered what happened.
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