Forum Replies Created
Hi Matt
Giving up cannot be an option, NEVER GIVE UP.
I have been trying to buy my 1st PI for the past 4 years, after attending seminars, reading umpteen number of books. In the last four years I have gone through lot of tough times as well, from closing down my business in 2006, paid off all my credit cards and other loans, was debt free well almost, to being unemployed for a period of 12 months and my mother being diagnosed with Bone cancer last year and then within 6 months another cancerous tumor appeared in her liver, hence my sister decided to get married sooner than later that too in India which was another expense for my family. Though most of the wedding expenses was borne by my elder brother almost to the tune $200,000 but I still need to pay of my share of the expenses. Travel expenses to India was another killer, cause it was a last minute decision nothing was planned and no money was put aside. Me and my Wife had to take a months leave for the wedding. Got back from India 2 days after that met with a car accident a 5 car pile up, car was written off, as there were no savings had to buy a another car on loan to commute to work, which was another expense. Till this date I have not given up, I keep looking for different ways, how to make money from RE, and I did get bogged down when I didnt have a Job and my credit debt started to go up, and decided to let go of my dreams and go with the flow, 5 people were living on 1 income with no GOVT support, as I dont feel comfortable taking money from the govt for my day to day living, well just one of my principals, there are more people out there who needs it more than I do.
But what ever has happened I have not given up, a family member had promised me $30,000 as loan (payable when able) to kick start my PI goals, but that never materialised, I still make a point to send out emails to my family members and some times friends whenever I identify a property which has some potential to make money, asking for a loan or a JV, most of the time I dont get any reply at all, that hasnt stopepd me either, " If you dont ask, you wouldnt know". After a lot of contemplation last month i decided to subscribe to API and the information is worth every dollar spent. I inspect every property which I think can make some money and get me closer to my investment GOALS. I have also heard from external sources that the company I am working for is closing down its NSW operations and hence will have to look for a new job in the next couple of months.
I think I am missing a link some where, and I am trying to figure out how and where to find it to kick start my PI goals,
Please don't give up.
Regards
Ashish" If you are not in, you are out"
Hi
I have been thinking on the same lines for a while, and seriously I am also looking for an answer.
I tried to have a conversation with a Banker friend regarding this a year ago, but I guess he was not very comfortable parting with any indside information. Well he needs to save his ass****etts
as well.I think this requires very good networking skills(I am yet to accomplish that) PR skills, and the main issue is th TRUST you can establish between you and the information provider. Though foreclosures do come up for sale through REA's, but then you need to be on the A list of the REA so that its offered to you before the property hits the stands.
If you find a way please share wiith us or atleast me.
Regards
Ashish
House Prices in Australia are comparably and relatively cheaper than in India. Delhi , Bombay/Mumbai property market have peaked to a level that buying a property in either of the cities is just a dream.Delhi is a landlocked city, and Mumbai is situated on the west coast of India the Financial Centre and Bollywood Capitol and will soon be known as the city which has the most Expensive house in the World, a whooping USD $2Billion is being spent for the construction of a 22 storey residential proeprty to house the Chariman of Relinace Industries.
A friend of mine owns a PPOR is one of the most sort after suburbs in South Delhi, no water views, as a matter of fact no views at all, main busy road location, 750 sq yards aprroximately 620 sq meters, 2 and 1/2 floors, all floors can be used as a seperate dwelling. He has been offered around Rs 300,000,000 which equates to AUD $7.2 million and guess what he doesnt want to sell. In 1996 the same house was valued at Rs70000000 and in 11 years time its 4 times the price. Apartments in Delhi too are unaffordable, a 3 bedroom 3 bathroom with off street parking apratment can fetch anything from $400,000 + depending on the suburb. South Delhi and Central Delhi are the most sort after regions of Delhi. Central Delhi is so expensive that the friend who owns the $7 million property, even if he sells that house and adds another 10 million he cant get an independent house in Central Delhi. for $17 million And an apartment which are rare to find will not leave much change in his pocket.
Enjoy your Day
Regards
AshishHi All
Oh I love this topic, I can go on and on and on. I can talk about cars all day long. I have had this passion for cars since childhood, as I said can talk and write all day abt cars, will not deviate from the topic – I drive a subaru outback bought brand new in 2005. excellent family wagon, AWD 5 star safety rating, 5 yr unlimited Km warranty excellent resale and the list goes on.Thinking of selling it, if I get a good price. We are a family of three the car is used by my wife to to commute to and fro from work , I use my sisters cars to drive to work as of now but will have to get a new one in March as she is getting married and would like to take the car with her. This is my biggest debt so far no PI's no PPOR,My child hood dream has been to own as many cars as possible, my mother say its probably in the genes as her father 40yrs ago back in India owned abt 9 cars at one time, and all were the top ones, cadillacs, dodges, those big ones, unfortunately neither saw my grandfather nor his cars, they were sold after he died.
I dont care about Plasma tv's or LCD's nor any other kind of gadgets, I havent spent a dime on a tv in 7 yrs I have lived in Australia, yes I did buy a Sony home theatre but that was before I read " Rich Dad Poor Dad"
I keep myself updated with all the motoring news including resale values, run outs and new launches in Australia and Overseas., I keep telling myself "Stop Looking or dreaming abt cars they will not take you anywhere in life, concentrate on Real Estate Goals", but its hard very hard for me to let go. One place where i struggle is the technical part , that too under the bonnet. People from overseas call me to seek advise regarding what car to buy? I am also planning to set up website on automotive consultancy-unbiased opinion.
I have always wanted and am obsessed with the Merc, but realised its no great shakes to have a merc in ur garage, I think they are waste of money, specially the range below the S class, I have my eyes set on the S class Saloon, Range Rover Vogue and last but not least god willing Maybach, will buy once I have accomplished my Real Estate Investment goals, till then will probably live with my Subaru. BTW the Subaru has stayed with me the longest 2 yrs and 11 months, before that I had an xtrail sold it after 2 yrs.
I can keep on writting abt cars endlessly but I think I should end it here, and concentrate on my RE Goals,
Before I end, I would like to wish all PI members and their families merry christmas and a happy new year. May all your wishes come true.
Regards
Ashish.
as well.
