hello to all my fellow investors,
I have recently become a member and tonight is my first time on-line. I read soooo many stories about other investors “first deals” and have finished reading Steve’s books.(boy I am pumped and ready to go to the next level with buying up Positive Cashflow deals. I know that they are rare as hens teeth but you can CREATE them.
I brought a property 18months ago in Kingsthorpe QLD for $65000 and spent $15000 on renovations. I rented it out for $200 pw and borrowed 100% for loan and fees etc. Sold it last month for $175000 and brought another property next door to me for $165000 and am renting it out for $220 pw. I look for diamonds in the rough or the worst house in the street. I have built up a network of trade’s people (electricans, plumbers etc) and once I finish with an exterior paint job , looking at market vale of $265000 …
I have been trying to buy low and sell high (market trends) to get maximum returns – so far so good. I am fairly new to the game and as yet have not tried commercial market.Can someone please advise me how it works??? love to talk to you all !!!Crikey! I think you are doing well already!
compared to me anyway.. 37 years old. 25K in debt and no house yet! My partner and I are saving though.. got 7k plus first home owners grant..hopefully stamp duty will be abolished in tassie sometime next year..by then we should have a good deposit.
Hi John.
Sounds like you are doing well. I have one IP (negative geared) in SYdney and am now eager to get another that is Positively geared to try to offset the costs, just having a bit of trouble getting a good system in picking Positive properties!!! Any hints or suggestions to help me kick start!
Cheers
Benno!Benno,
If you can’t find them you create them. Try to think outside the circle, try to find a solution to a problem that others find to difficult to deal with. can I ask why you are trying to find a postive CF property to offset a negative one. Is this for tax purposes??
I also suggest to find properties that are in the 150,000 – 250,000 bracket as you don’t have to borrow much money and when you go to sell them , its going to be to a specific target audience (ie first home buyers,investors looking for good returns) once you start getting into the 300K over , you find that it takes a lot longer to sell.This relates to the QLD market . good luck
You must be logged in to reply to this topic. If you don't have an account, you can register here.
