Forum Replies Created
Monopoly,
You can make a written offer anywhere.
If the vendor accepts it it can become a contract – otherwise it’s simply an ambit claim
We frequently put in multiple offers – you just inform all the agents that you’re doing it & that you’ll be accepting the first X that come back…if you can, do all the deals that come back
Cheers,
Aceyducey
Back on the original post – ANYONE can find cashflow positive property.
There’s no trick to it, just a lot of hard work.
I would NEVER pay someone to find me a property, as I have the skills to do it myself.
I encourage everyone else to do the same.
In the final analysis if YOU can’t assess and locate the right properties for you, trusting someone else to act in your best interest adds a lot of risk to the process.
Frankly one of the aspects I dislike about this forum in particular is the large number of people who are allowed to blatantly advertise that they can find you property. I see it as these people preying on a reasonably inexperienced group.
Of course – I know they see it differently
Cheers,
Aceyducey
To me this says, buy somewhere else
Cheers,
Aceyducey
Monopoly,
I know Steve fairly well, he’s a good guy, though fairly busy nowadays
His approach to using different assset classes synergistically is very good & he is an extremely ethical individual.
Considering your equity position, Steve’s Cashbond approach could be quite suitable for you.
It’s a bit complex to explain here – you could head over to Somersoft where Steve posts regularly & there have been a number of discussions about his approach.
You could also attend one of his seminars – which are some of the few I actually recommend as they are excellent – though get a good night’s sleep first as he covers a lot (even when it was two days long as when I did it years ago).
More info on Steve & his companies are at:
Financial advisory services: http://www.navra.com.au
Managed fund: http://www.navrainvest.com.au (you only pay fees if you exceed the ASX 200’s performance)Cheers,
Aceyducey
Yes, quite a few (more than X) (exact number suppressed as my partner doesn’t let me release this information).
Got to be in it to win it
Cheers,
Aceyducey
Derek,
Good tip – we use this figure alongside others in our research process as well
Plus we call or visit local schools & ask about their enrolment levels. They tell you pretty quickly the type of people moving into or out of an area.
Cheers,
Aceyducey
Try http://www.quadrahosting.com.au
The owner is a stalwart on investment property chat channels
They have a do-it-yourself website tool which is very easy to use. Can handle domain registration as well at rock bottom prices.
BTW – they’re cheap too
Cheers,
Aceyducey
Mortgage Insurers are GOD.
They decide how much the will indemnify the bank for. The banks do NOT go over the limit imposed by Mortgage Insurers.
There are only two mortgage insurers in Australia, so there’s not much choice anymore
And once you’ve reached your limit with both (as we did a while ago) you either have to always borrow through low/no-doc or self-insured lenders or wait til the insurers up their loan limits (as they did last year).
Cheers,
Aceyducey
Ausprop,
Once you subdivide it’s only the bit with your house on that’s considered the PPOR (in very basic terms).
When you subdivide & build the BEST thing to do is move into the new house & sell the old as your PPOR. Then after a year subdivide again, move into the new house & sell the one you were living in for a year…ad infinitum (until you can’t subdivide anymore).
Of course this may not suit what you want to do – so do what you want to do
Cheers,
Aceyducey
It’s called a sinking fund, because your funds sink in & you never see them again
Cheers,
Aceyducey
sizzling_duck,
It doesn’t work
Milly,
I can understand you were comfortable – a couple of assets, enough work to keep your brain engaged, your kids growing up & centrelink patching the holes.
However perhaps you have been getting too comfortable. Maybe it’s time to start looking beyond the day-to-day towards the next stage in your life
It’s best not to rely on government payments long-term in any event – you simply can’t rely on them to keep the same rules. Better to build up your assets and create a bigger safety margin for yourself.
Cheers,
Aceyducey
