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  • Profile photo of SpongySpongy
    Participant
    @spongy
    Join Date: 2013
    Post Count: 22

    Hi All,

    Have come across this website and it appears for $79 per month they offer information on properties for sale, days on market, discount, hot/cold spots within suburbs etc etc etc

    Has anyone used them or have any info/advice to offer?

    We purchased one IP in 2004 and have failed to ever do anything more.  I think it's the 'fear' factor that has held us back and would be reassured to have access to detailed analysis to hopefully get us into our next IP.  I thought finance was an issue, but the more I look into it, the more I now think we can get it with the right broker.

    Thanks

    Profile photo of Jacqui MiddletonJacqui Middleton
    Participant
    @jacm
    Join Date: 2009
    Post Count: 2,539

    Hi Spongy, may I ask if you know what it is that is frightening you?  It might help to define that first.  eg Frightened of adding more debt to the portfolio, frightened portfolio will be negatively geared, frightened of choosing the wrong property etc etc.

    Jacqui Middleton | Middleton Buyers Advocates
    http://www.middletonbuyersadvocates.com.au
    Email Me | Phone Me

    VIC Buyers' Agents for investors, home buyers & SMSFs.

    Profile photo of SpongySpongy
    Participant
    @spongy
    Join Date: 2013
    Post Count: 22

    Probably frightened of choosing the wrong property is the biggest concern.  We purchased in SE Brisbane (Forest Lake) and while we have always had the place tenanted, we didn't have a good property manager and had tenants who wanted to call in a plumber or electrician every other month for some ultra minor issue (ie. noisy fans, even when they had never cleaned them!).  We now have a fantastic property manager, little stress (none actually) and have done some cosmetic upgrades (paint, carpet, curtains, gardens).  While there's been little capital growth over the last 5 years, it's just ticking along now hassle free.  Our situation has also changed in that I'm now a stay at home mum and my husband is certainly more risk averse than me (although he backs me 99% of the time).  I have no problem with 'good debt' so long as it's serviceable with my husbands income.

    I read the mags, frequent the forums, read property investment books, look at realestate.com etc etc, but then never seem to take the next step…

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    Hi Spongy 

    Welcome aboard.

    I can't comment on the website you've mentioned – I don't know anything about it.

    However most brokers have a subscription with companies such as residex, RP data or Australian Property Monitors that provides this sort of information for free to their clients.

    It's quite a common situation where one person in the relationship wants to invest but the other is reluctant. I all comes down to compromise – lol, might have to start up Pass Go relationship counseling :-)

    Fear is normal. Go with your gut – if it doesn't feel right don't do it.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of SpongySpongy
    Participant
    @spongy
    Join Date: 2013
    Post Count: 22

    Thanks Jamie, that could be a good spin off business for you :)  My husband does generally leave the finances up to me, so while that's OK, it also means a bit more pressure that I don't make the wrong decision.. Big decisions are made together of course, but normally after I initiate it all and he feels comfortable.

    I'm determined to at least figure out what our options are, so really appreciate the input.

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    haha – it would be a brave venture. I think I'll stick to being a number crunching finance nerd ;-)

    At least you're going about it the right way by seeking input and doing your research. You're not jumping into anything without thinking it over.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of SpongySpongy
    Participant
    @spongy
    Join Date: 2013
    Post Count: 22
    Jamie M wrote:
    least you're going about it the right way by seeking input and doing your research. You're not jumping into anything without thinking it over.

    Nearly 10 years on we may be 'over thinking' it :) LOL

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    lol – yep that's a good point. Might have caught the dreaded analysis paralysis.

    Being a SAHM probably plays a part too – I don't know how my wife manages to get anything done. From my perspective, running a business is easy peasy compared to looking after the kids full time.

    Is your husband the sole income earner at present? If so, that could explain the aversion to risk – which is completely understandable. 

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of ChrisA1ChrisA1
    Participant
    @chrisa1
    Join Date: 2011
    Post Count: 172

    Hi Spongy

    Reading this thread, I think so many forumites can agree with you – the analysis paralysis, being hesitant, one partner holding back etc etc.

    Jac, Richard and Jamie have all provided great comments and I definitely think starting with Jac's question about the fear is the one to start with – for yourself and your husband – make sure you are both on the same page.

    I am the more active person in property investing – while my partner is very supportive, he lets me do all the researching and learning, then I present ideas to him. He is great as he asks questions and I know that if I can confidently answer the questions, then I am on the right track – if I am not sure then maybe I haven't confirmed my research, or it is not the right path for us.

    As I introduced new members into the team (conveyancer, accountant, etc) we went together, so everything was clear to both of us and we were both comfortable. Richard and Jamie could confirm or deny this, but I think this would be very important as you start discussions around structuring your loans and portfolio. I am sure both would provide guidance for you about how to structure your loans so to keep within your risk tolerances.

    Richard/Jamie, how do you work with interstate clients where most of your work is by email/phone? In Spongy's situation where her husband appears to be the more risk adverse person, how do you allow both parties to ask questions to ensure they are both comfortable along the way? Do you have access to Skype, do you recommend they meet you face-face initially?

     

    ChrisA1

    Persistence is 'to keep on keeping on, no matter how hard the going may be'

    Profile photo of Tony FlemingTony Fleming
    Participant
    @the-dark-knight
    Join Date: 2008
    Post Count: 396

    Spongy sometimes you just have to take the plunge. It seems you know how to do research so that's a good start :) Are you buying high priced properties?

    Tony Fleming | Triumphant Property Group
    http://www.triumphantpropertygroup.com.au
    Email Me

    NSW Buyer's Agent specialising in Western Sydney-Blue Mountains-Orange-Albury

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    ChrisA1 wrote:

    Richard/Jamie, how do you work with interstate clients where most of your work is by email/phone? In Spongy's situation where her husband appears to be the more risk adverse person, how do you allow both parties to ask questions to ensure they are both comfortable along the way? Do you have access to Skype, do you recommend they meet you face-face initially?

     

    I deal predominately with interstate clients – including clients from this forum.

    Email and phone works well –  Skype is available too.

    It's easy enough for the other side to pop me on speaker phone so I can address everyone's questions. 

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of ChrisA1ChrisA1
    Participant
    @chrisa1
    Join Date: 2011
    Post Count: 172

    This article might also help the analysis paralysis – https://www.propertyinvesting.com/user/property-investing-news/blog/investments-sake

    ChrisA1

    Persistence is 'to keep on keeping on, no matter how hard the going may be'

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    ChrisA1 wrote:
    This article might also help the analysis paralysis – https://www.propertyinvesting.com/user/property-investing-news/blog/investments-sake

    Ahh – that's a blast from the past! I forgot that I'd written that.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of SpongySpongy
    Participant
    @spongy
    Join Date: 2013
    Post Count: 22

    Thanks for all the input everyone.

    Jamie – yes, my husband is the sole income earner, so I do understand where he's coming from.

    Chris – thanks for your input.  My husband and I do work quite similarly, where I do all the research and then we proceed together.  I guess one of the other issues is that I just didn't think we'd get more finance without me working, but seems I thought wrong :)

    Dark Knight – not buying high price properties as while I'm not against this, our borrowing power and the cash flow position of the property will ultimately dictate the property we purchase (together with all our other thoughts following research etc of course, this wouldn't be the sole factor)

    Time to get things moving!

    Profile photo of ripehouse.com.auripehouse.com.au
    Participant
    @ripehouse.com.au
    Join Date: 2012
    Post Count: 4

    Thought I might bump/update this thread with some news and info regarding Ripehouse.

    I am gearing up for the launch of V3.0 of Ripehouse and we are looking for a group of investors to use the software for a period of four weeks (for free of course!) as part of a private beta group.

    We are looking at getting this beta group running before the end of September. You can view a quick informational video about the new software and the beta launch here:

    http://www.ripehouse.com.au/beta/welcome

    Fire away with any questions about what functionality this software will include or about how to get involved with the beta launch and thanks for your help in advance.

    Regards, Jacob

    ripehouse.com.au | Ripehouse
    http://www.ripehouse.com.au
    Email Me | Phone Me

    Free 14 day trial - no obligation or credit card needed! Just use the coupon code "pttrial".

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