As a marketing & sales professional for over 20 years now (boy does time fly…), I would highly recommend…[Read more]

I’m very surprised & disappointed that noone else can provide feedback on this important topic. After all the most important thing in any investment is the numbers.

The +ve cashflow calculator helps with the first part of the worksheet. Is there any more feedback on this part and especially the subdivision…[Read more]

He tells them when they are doing the quote that upon…[Read more]

Bugger it! I just posted a long reply but didn’t log on to this forum first, so it deleted my post – maybe Steve, it should keep the post saved after login.

So, all I’ll say now is that the solicitor said exactly what Betterbiz said. And my millionaire mate who owns a trading company & super fund, controls 4 companies to keep his…[Read more]

If they accept your low offer fine. In not, they counter-offer or refuse to deal with you outright (that’s their ego getting in the way).

You are not ripping anyone off if…[Read more]

Please send to: agent007@adam.com.au

Thanks,

David Paxton
“You Only Live Twice”

I don’t think I saw you there on that side. You must have been near the blonde lady who bought one.

Goodnight [^]

David Paxton
“You Only Live Twice”

Good work there!

How much cash did you put in each deal? Or did you gear it up 100%+? That is, no money down.

Either way your cash on cash return must look very good.

Good luck with the tenants & property manager.

Cheers,

David Paxton
“You Only Live Twice”

Where were you sitting at the auction last night?

I was near the front row on the far RHS.

Are you the guy with the moustache (bidding #A8), or his friend, who were sitting nearly behind me? If so, remember I said hello, & I’ve seen you at the other auctions.

I just saw the MB catalogue & the auction time is 3pm on Thursday. As a…[Read more]

Just take note though – although the numbers look good, they may be hard to rent out quickly. One property manager told me vacancy rates are about 2-3%. But you must buy in the right parts of the town.

Check out Elders RE for any country auctions.

Weston,

I didn’t get this guy’s name, but he would be an Italian, 30’s, balding and…[Read more]

I am interested in how you find out the sales history for porperties in NZ?

Thanks,

David Paxton
“You Only Live Twice”

Just been searching here tonight. Many properties found under $50k. Some daggy, and some looking very good – at least on the digital photos anyway (but I can’t imagine any would be doctored would they? ).

Cheers,

David Paxton
“You Only Live Twice”

In Adelaide most of those cheap properties in Elizabeth are going for $90K +.

I could kick myself for not being aware of this as I have owned my various PPOR’s totally freehold since about 1995. Grrrr……

And I agree, amongst other things, the big promotions of property through books, seminars, TV, etc has pushed…[Read more]

Why not call a few PM’s (property managers, that is) in PP?

They should give you a reasonable idea what the vacancy (or occupancy) rate would currently be for the type of property you are looking at.

This would give you the best & most realistic rates, if there are no stats. available on vacancy rates in the town from organisations such…[Read more]

However a good bargain may still be found there if you look hard enough.

But maybe nearby there are “sleeper” towns or regions that will be next to grow.

Interesting times ahead with…[Read more]

I’m from Adelaide too.

There appear to be some regional propeties that would be +ve on a “buy & hold” strategy.

As the RE market is softening, there may be more opportunities from now on.

Cheers,

David Paxton
“You Only Live Twice”

Saw this guy’s article in a recent issue of API.

One problem with his chekclist…. he reloes a lot on an architect/draftsman to handle council application.

Watch out! That strategy can cost you $1,000’s more. Many in my home town rip developers off! Just today one lady told me her architect in Port Lincoln was going to charge…[Read more]

That’s SA for ya….

And no indication or our state govt dropping SD rates…they’re making a bloody fortune now!!!

Yeah, Mr Rann, why not be fair to us? Maybe you should spend more time working on a fairer system than getting in front of the TV cameras…

My 2 cents worth!

David Paxton
“You Only Live Twice”

Tsk Tsk…

Didn’t I tell you…. ask if they are a planner FIRST!

Live & learn.

Good Luck!

David Paxton
“You Only Live Twice”

Great to see you on this forum!

Here is my problem installing your program on Win95B.

1. The file is opened for installation. It goes through nearly the whole process. Then just near the end I get the following message/dialogue box:

“An error occurred while registering the file C:WINDOWSSYSTEMmsxml3.dll”
Abort/Retry/Ignore buttons.

I…[Read more]

However, if you plan to sell at least one you want to get the subdivision underway immediately. As it can take our beloved Land Titles Office about 4-6 months to issue the…[Read more]

I am a new homes consultant with a major project builder in Adelaide. When I was recently in head office I dealt with 100’s of developers/ amateurs. And most got it wrong & cost themselves $1,000’s of $ more – so they end up trying to screw the builder for the $ the waste elsewhere.

At the risk of sounding dogmatic, follow these steps &…[Read more]

Once bitten twice shy with AMP… []

I’m doing my bookwork today to finalise mi 2002/03 figures & do last quarters BAS statement. Then off to the accountant for my tax return. And get advice for legal/tax structures for investing & business trading (I already trade within my company)

Plus the painter is booked in to paint the outside…[Read more]

Guess it’s time to upgrade my hardware….

BTW does any of those programs also do IRR (internal Rate of Return) over a time line of years?

Dolf De Roos wisely recommends this as a final analysis on the numbers of a deal. It’s basic financial analysis I…[Read more]

According to SAHT, ‘b’ looks after selling their south,east & western suburb properties. Looks like they mainly have SAHT land at the moment. But I’m sure they sell their houses too.

Spider,

Yes… Would need a bit of dough to get them up to scratch.

Interesting that some investors are cashing these +ve cashflow properties already. Maybe…[Read more]

I will have to shoot myself now [xx(]

Thank God I have a licence to kill…

I did a search in the Yellow Pages & every QS in SA (bar one in Mt Gambier) is in Adelaide.

But you could try contacting the Australian Institute Of Quantity Surveyors on 8410 4044.

Good luck,

David Paxton
“You Only Live Twice”

Did you buy any of those Housing Trust houses in Whyalla at last weeks auction?

Are your IP’s +vely geared on the West Coast?

Cheers,

David Paxton
“You Only Live Twice”

I sell new homes for a builder. I see people defy logic everyday. Particularly developers/ investors.

Many people pinny pinch but waste $1,000’s doing things the wrong way.

Why? I believe becaiuse emotion/ feelings get in the way of logic.

It’s that simple. Accept that & you can be rich!!!

If we were logical like computers we would not…[Read more]

‘e’ is very good, apparently no reserve price.

However, tonight ‘jt’ has a reserve (not sure that this was the instigation of the RE company or the govt. branch involved.

Also ‘b’ has a few coming up too….

Ready to play Cleudo…[]

David Paxton
“You Only Live Twice”

I did a reno 10 years ago but I don’t have the time & inclination (esp with a wife & 2 young kids) to do it again.

Even though the margin is less, did it work out profitable over the time frame? And what was done & how long did it take?

I realise these days that trades my take…[Read more]

And Leigh, I’m going to have to shoot you now… []

It’s nice living in a place that once hosted the world’s best Grand Prix.

…say no more…[]

David Paxton
“You Only Live Twice”

You need to make phone calls – and not just to RE agents. Try targeting key regional centres in your State or Territory, and call companies, govt departments, organisations and so forth….

Remember, “seek & ye shall find”.

Erika, I dunno. As I wasn’t buying this time my due diligence wasn’t very…[Read more]

The API special report “Under Wraps” interview Steve McKnight & Rick Otton.

It propbably raises more questions on the issue.

IMHO for some people (wrappees) wraps can be…[Read more]

I think the main issues to address with towns below 10,000 (besides the mortgage ones which I’m sure a competent mortgage broker can resolve, hey guys…) would be:

1. Vacancy rates
2. Property management &
3.…[Read more]

Secondly, the “Good Book” says “ask & ye shall receive”. This applies to PI as well. So I put my offer on the above example at no more than $48K ($60k less…[Read more]

No everything in RE in online. So call the agents up to find out what is available. And they may tell you of a motiveted vendor about to put there house up for sale.

Good Luck!

David Paxton
“You Only Live Twice”

I live in SA too.

Go to ABS website & print off the population & growth stats form all towns in SA.

Look at the ones with 5,000 or more.

Then research each one – RE on website, sales data stats, trends & new developments etc.

There is no easy way. Just research, get your finance in place, then when you find the +ve cashflow…[Read more]

Sorry for the confusion.

David Paxton
New Homes Consultant
Sterling Homes
0412 853 395

Pardon my ignorance (I’m new to this forum), what is a PPI?

And how do you know you got a competent pest controller?

I saw ACA last night where a shonky pest controller (Steve Fuller – his name was publised on TV) said a house that was literally falling apart from termites had NO termites.

Do I just use a big name pestie?

And thanks…[Read more]

Blackhole, I am not a real estate agent (otherwise yes I would have that data). I sell new homes for a project builder. We have NO sales data because that is irrelevant for us. I do quotes & sign them up, & Sterling Homes builds them.

Any other sources would be appreciated (also by other forum members too).

Thanks!

David…[Read more]

I look forward to your analysis… (I did spell that right didn’t I?)

I rang my accountant yesterday. Even though he only has one IP (a unit in a retirement village) he has heaps of client’s that are, and he is very confident in getting me in the right structure.

But I also value the view points on this forum from those…[Read more]

I don’t mind CONSTRUCTIVE CRITICISM based on fact &/or past experience.

But not knocking other people for the fun of it.

I would hate to see this forum close because of a few BAD APPLES.

ALready I have received so much good advice from other experienced PI’s, mortgage brokers etc. …. and that’s just in 2 days!

And a BIG…[Read more]

The client’s I generally refer are not PI’s. Just people who haven’t bothered to organise finance yet.

And when I sign up a contract to build their home I don’t want the deal to fall over because they didn’t get their finance. It is not easy as it sounds to sign up a building contract. A lot of time, hard work and some argumentive people…[Read more]

Australian Property Investor magazine (bi-monthly)

Steve’s ebook & tapes available on this website

Go to Dymocks bookstore & check out their FANTASTIC share & property investment section:

On the weekend I got:

Real Estate Riches – Dolf De Roos (is that his real name? ) 1/2 way through & an excellent must read – he’s lived and…[Read more]

Hey, not too many accountants would be writing a book on property investing in Australia. His book is VERY unique and valuable irrespective of where you think the market is at.

Maybe I would disagree on a couple of numbers like maintainance costs. Also he doesn’t factor things like building inspections & valuations…[Read more]

Don’t know where the critics are looking…. hmmmmm

The only criticism I had with Steve’s book was that I thought his annual property maintenance budget…[Read more]