i live in sydney and have a negitive ip in caboolture!!! i am looking for a cp investment. i dont want to sound ignorant but i have spent the last 6 months looking and cant find a single one?????? i have scoured all the states to no avail. to be honest i think the cp properties r a thing of the past unless u put down 50% but that defeats the purpose doesnt it!!! with investments u should not put any of you own money down, u should borrow all of it?? use the banks money not your own???? i hope i have the right attitude!!
ta
i dont want to sound ignorant but i have spent the last 6 months looking and cant find a single one?????? i have scoured all the states to no avail.That’s amazing…..how on Earth did you look at every property in the entire country for sale in only 6 months ?? You must be physically exhausted. I’m exhausted just thinking about even 1% of that massive task.
Which one came closest to your goal ?? Was it the ;
1. Small 3 bed 1 bath fibro tin shack just east of Quilpie ??
2. Hotel on the banks of the Derwent ??
3. The 5 bed 4 bath mansion in Vaucluse ??
4. The industrial shed complex on the wharves in Geraldton ??
5. The vineyard just outside Coonawarra ??
6. The restaurant in St Kilda leased out to the Fiamaglio brothers ??
7. Off the plan high rise units on the beachfront at North Glenelg ??
8. That GEHA house leased out to the nice couple of teachers up in Townsville ??
9. That macadamia nut plantation up in the hills at the back of Byron Bay with the extensive ocean views ??
10. That holiday house, leased out on short term rental with the amazing staircase, amongst the tall gum trees down in Dunsborough ??
11. Or maybe it was that 4×2 brick and tile house in Beaudesert that was going cheap because of the bad smell from next door with those neighbours that had the orange Cortina.
12. Or could it have been that 35 storey office tower in Collins Street going for a snip because the fire board didn’t pass inspection and the Owners didn’t want to fork out 200K to upgrade the internal sprinkler system…….Once again, I’m absolutely staggered that you’ve been able to check out and analyse so many properties in such a small period of time.
Are you absolutely positive you haven’t just taken a 4 second internet fly-by from 50,000 ft and written off the entire market…..
From your 6 months due diligence, what percentage of properties did you find were not on the “net” ?? Were they better or worse deals than you found online ?? [eh]
dazzling
you flyer you
you missed the 7 townhouse site with da that is positive when complete and is a 29% return with full lend.
and the 23 unit site in the middle of sydney thats a 29% return with a full lend and the owners will buy back at market value end product
oh and while tamtam was up that high and was flying that leajet you could see vanuatu from there and you can’t miss the grand hotel vanuatu with a whopping 65% return full lend and all per sold if need be.
and that one you could have found on the net you,
just have to now what your looking for.
there are a couple of others that tamtam’s flyby missed but don’t want to boar.
6 months investigation won’t cover inner syndey covering 5 suburbs. and thats walking the streets.
sorry tamtam I’m not for generalitises it would take 3 years just to see this big land of ours and I think i would have seen more then most and I wouldn’t have seen 0.5%.
the net is good to research an area not to find a deal.
oh and for those who think lets get on the net and find these deals there gone and bar vanuatu which haven’t got an answer on.
they are all mine.here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]Grossy,
We’ve simply got to get together and have that beer / scotch…..talk about deals etc….
I fly back into Oz today, so everything is looking rosey…..back from Pitsville and raring to do a deal….
You surf the net your end, and I’ll have a quick skim over here and we’ll compare notes [biggrin]
hi dazzling
two things number one get a web cam and I’ll post a mini scotch and we can web drink.
two ask the pilot if he can give you cordinates and with the new internet access on international business class( and you will be coming business class) log into to google earth a put a pin for each deal and then upload it at somersoft caveat empire that way it easier for people to find without all this pesky searching for these deals.
maybe ask the domain to also use google earth to pin point deals must be posi + and an extra7% just incase rates move up.can you charge bird dogging rates per hr while surfing the net looking for deals and which do you think I will make more money at I’m here to learn.
oh and may soon need to learn to fly.here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]Geez,
You two members (Gross and Dazzling) of the your own little mutual admiration society have to be more calm when being critical of people looking for C.P. properties.You should also realise that if it is not on the net, —then lets face it —it is just not available.!!!! You have given us some samples ,sure , but they were the only ones left on the internet and now you have taken them!!! You both should be ashamed !!!!
Besides, if the people looking for C.P. properties cannot look past the net,—does that not leave more for those that want to go the extra hard yards ???
Maybe doing a search in these forums would give tamtam the answers he is looking for , BUT then again tamtam may just cop more grief. By still not managing to find any C.P. properties.
Maybe also , tamtam , you should stop looking for properties, per se, and start looking more for problems and then solving those problems.Cheers Len
Sounds more like an altitude problem than an attitude problem! LOL
Sparky
Mental note – never ask where CF+ deal are in a forum!
tamtam, I feel sorry for you buddy, but I can see where the other guys are coming from. I admit I’m relatively new but I do have one minimally CF+ property that I found by finding an agent and going to Adelaide’s northern suburbs with her and viewing 7 properties in one day. The one we (my Wife and I) bought hadn’t even been advertised yet but because we made our intentions clear (ie we wanted to buy) she showed us an extra property. Although I say it’s only just CF+ there is enough land at the back to subdivide and we are in the process of getting approvals that will hopefully get us a $40k profit in 6 months (probably more I know).
I appreciate that you are in Sydney and the internet is my main way over looking for properties but it can’t be the only way. I read Steve and other people’s comments that you’ve got to get out and speak to agents. It rang true for me today because we are looking for another property and I saw one on re.com for $85k, I rang my PM who said she thought it would rent for $130 p/w so the quick number looked ok. I then rang the agent who said it was already under contract, the same day it went on the web.
So my advise to you is to do some research, select an area you want to invest in and take a “holiday” to talk to some local agents, face to face. I’m no where near financially free and am still committed to dragging myself to work everyday so I get paid, but there is only one way for me to get ahead and that is to take action myself.
Hopefully you can do the same.
MikeHi Mike,
That was a really good post. I am yet to take the big jump and this website can be really informative and interesting for a newbie…you just have to be aware of what to ask and what not to ask (and fair enough too).
For someone like me, you have demonstrated that there are possibilities at the smaller end of the spectrum, relevant to the little fish.
I love reading the posts of the more successful investors (nothing against your achievements of course) but that was a good little inspiration boost.
Thanks and I hope Tamtam got something out of it too!
Peach
hi camder
whats wrong with a little mutual admiration anyway.
as for tamtam.
some advice
1 find an area you like and is within your budjet.
2 find out its historic growth
3.talk to lots of re in that area
4. don’t just go for houses look at duplex site as well and unit sites (if there ok and you don’t want to do them you can send them to me)
5. if your time poor but cash rich talk to a bird dogger or buyers agent( apart from a piece of paper I am yet to see the difference)
and then invest.
maybe you may find my views harsh but sorry thats business and I do play hard.
there are +posi out there but you wont find them.
you must make them.here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]Hi tamtam, and congrats to aliandmike, for picking up so quickly on what this whole topic is about.!!! When you said “the one we bought hadn’t even been advertised yet”. you hit the nail on the head.!!
So would you not agree that you have to be out there to find the deals.
Good luck to you and good luck to tamtam , especially if he/she accepts this advice /criticism the way it is intended.
We also live in Sydney but our buying is not limited to that area, and where we buy suits us!! All cash positive even after full funding by bank.
We have all been there and we still are .
Cheers Lenthank u camder , alandermike and peachy!!!its good to receive some options and then having a better understanding of all this without the so called harshness of the other two!!! u three have my upmost respect!! as for the other two, that is not harsh, it is more like taking the mickey out of someone that is still trying to acheive and learn!! u would have sounded better if u were harsh and critical without the sarcasm.
ta
Dazzling and Gross you are both naughty boys !! Glad to see you’re back in the lucky country Dazzling we missed your posts.
Tamtam just do a search on “Cash Flow Positive Properties” as this subject gets a lot of coverage. Don’t loose heart they are out there you just need to be creative.Amanda
“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”Hi again tamtam,
Sending you a private message —just under where you log on –go to “private messages” if it still works the way it used to .
Cheers Lenou thats another slap across the wrists gee not a good month for me.
its was dazzling that led me astrayhere to help
If you want to get involved in some of the projects I’m involved in email to [email protected]Don’t go blaming Dazz, you are as bad as each other.
Now go to you room.Mal
Getting out of your comfort zone, can help you become comfortable
he won’t have landed yet.
so I can blame him
rule is blame the person who’s not in the room and move on always works for mehere to help
If you want to get involved in some of the projects I’m involved in email to [email protected]I must apologise to tamtam…..sorry matey or matess….most careless of me…..ol’ Simon must be having a heart attack at my clumsiness. [blush2]
Those wickedly naughty hostesses on Emirates just kept plying me with that horrible Dom champers and my elbow just kept bending, despite the resistance “No, no I kept saying, that evil spirit in the bottle is the making of the non-believing infidels….don’t force me to drink it”…..a momentary lapse of reason – to borrow a PF song title. Not the best of conditions I know for trying to respond to a serious questions…..sorry !! I was too excited about seeing my girls back in Oz, and with little else to do, other than boring property websites to cruise…..what else was I to do ??? [lmao]
Oh, and I take 100% of the blame for the indiscretion, ol’ Grossy is very easily led astray, and he was quite within his rights to blame me when I was absent and unable defend myself. We are both fully fledged members of the BHWUYA brigade….aren’t we Grossy ?? [eh] [weird]
Now tamtam – to make up for it, send me a PM and I’ll flick you one of these 18 deals on my desk that are +CF…..how deep are your pockets ?? [wink2]
Hi Tamtam,
I take my hat off to you. I have a few investment properties now. As a single women i have done it all on my own. I have just read both of Steve’s books along with many others. I work in Property Management as well and you know, i think the question you asked was a relevant one. dont worry what so called experts say to you. I just wish that people could be helpful instead of hurtful with their responses. That angers me.
I have something to tell you also about surfing the net from Sydney. When i was living down there i happened to find 3 of my properties which have very good returns, but back then there was not alot written on cashflow properties – i just thought that they were great deals so i bought them…….. i found all 3 of them on the net as i didnt have alot of time to fly around the country, unlike some people that take the micky out of the new comers.
Research your area on the net and then when you have a long weekend or a week off work then go and pound the footpaths. Dont let anybody make you feel like you have asked a dumb question as they just like to think that they are much better then you cause they have a few more experiances under their belt. Welcome to the world of investing – there are some lovely people out there but beware of so called experts ok??
Good luck and i wish you well,
Wealth Angel
[jerry]Wealth Angel
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