[battz71Participant@battz71Join Date: 2003Post Count: 95]

March 24, 2004 - 1:33 am

Benson,

I have two ways of looking at this.

1. Is that is may provide you with the ability to to increase your cashflow. One exapmle is I recently simply installed ceiling fans in a regional unit. Less than $200 installed, yet I increased the rent by $5 per week. I received a $260 p/a for a $200 investment.

2. The second point is that it will reduce my vacancy rate. In this example the property is in a dry hot location in Qld. By fitting fans (or a/c units) it will ensure that my units will be the first ones tennanted. So even if vacancy rates hit 10%, it wont effect me as my property will be in one of the 90%.

With vacancy rates rising in some areas i believe that my second point will become more important.

Cheers,

Battz

[battz71Participant@battz71Join Date: 2003Post Count: 95]

March 23, 2004 - 11:52 pm

G’day Brenda,

Great to see you post on the forum. I read your 2 part story in API – very informative and inspirational.

Looking forward to reading more of your posts….

Cheers,

Battz

[battz71Participant@battz71Join Date: 2003Post Count: 95]

March 10, 2004 - 12:13 am

Use the search function and have a look through the old posts. Beware, there is PLENTY of information on Investing and Financing in NZ. There are also several members of the forum whom actively invest there.

Cheers,

Battz

[battz71Participant@battz71Join Date: 2003Post Count: 95]

March 9, 2004 - 10:08 pm

Thanks for all your views guys!

I’d say Mr Burley got the thumbs up, so I’ll grab a copy today and get into it!

Cheers,

Battz

[battz71Participant@battz71Join Date: 2003Post Count: 95]

March 9, 2004 - 12:34 pm

G’day Julian,

Sorry i wasn’t very clear in my original post. I haven’ t got either yet.

Cheers,

Battz

[battz71Participant@battz71Join Date: 2003Post Count: 95]

March 7, 2004 - 5:21 am

Bruce I couldn’t agree more. There was a day when a picture said a thousand words, but now thanks to Photoshop a picture can say anything you want it to![:p]

Cheers,

Battz

[battz71Participant@battz71Join Date: 2003Post Count: 95]

March 5, 2004 - 3:32 am

G’day Marisa,

If you can, grab a copy of the latest Australian Property Investor. There is good article on a couple that have invested extensively in +ive cashflow properties, including Ipswich.

Also if you do a seach for IPSWICH, you should find a few posts..

Cheers,

Battz

[battz71Participant@battz71Join Date: 2003Post Count: 95]

March 5, 2004 - 3:17 am

A couple of examples I came across during a buying trip I had late last year…

1. Property was actually on the main highway (which was also a road train route[!]) but that section of the Highway was renamed, so unless you were a local you’d have no idea.

2. Property was neighbouring a railway line and directly opposite a rail freight terminal.[V]

Now the problem with these examples is even if i had done all my inspections: pest/electrical/building and even if I’d had commissioned my own independant valuations, there is a good chance the I would not have know that they were on railway lines/major highways.

And do you think the agents in either example offered that information?

If I trusted someone in the are to “check out the area” to give you a general overview, then that would be a different story…

Cheers, Battz

[battz71Participant@battz71Join Date: 2003Post Count: 95]

March 5, 2004 - 3:04 am

G’day all,

I’m heading out to look at some +ive cashflow properties in regional Qld over the weekend, but unfortunately im only in a position maybe buy one []

But would be happy to pass on the details/photos/stats on the property & area and in retrun be “reimbursed” for my expenses.

For any further details please email me: mark at supermotard.net.au

Cheers,

Battz

[battz71Participant@battz71Join Date: 2003Post Count: 95]

March 2, 2004 - 3:01 am

G’day Strider,

I purchased a highset Queenslander in regional Queensland late last year. Similar sort of numbers to the one you are looking at. Paid $88k for it and renting for $160p/w. The property was revalued day after settlement for $100k.

I was attracted to this property for several reasons.

1. I knew i was buying below market value
2. Qld’ers tend to be very popular, and easy to resell
3. Returns were good
4. Had the possibility to convert to a 4 bedroom (would cost as little as $1000 to do)& if I add a/c it will return over $200p/w
5. This property had great street appeal, and while some say not to get emotionally attached to IP’s, I believe that tennants DO get emotionally attached to houses they live in. Therefor if it looks like a desirable place to live, you will always get tennants.

Of course the downside to old Qld’ers is they can be high maintenance. This particular one has had lots of $$$ recently spent on it, which made the decision easier.

Capital growth in this area was 12% over last 12months, but i dont expect this to continue, but i do expect steady CG due to strong and expanding jobs.

If you have any other questions please feel free to email me

mark at supermotard.net.au

[]

[battz71Participant@battz71Join Date: 2003Post Count: 95]

February 26, 2004 - 12:42 am

G’day Mini,

By “Growth Corridor” do you mean
Beenleigh, Logan, Woodridge & Springwood? I’ve heard views that its just a matter of time before Brisbane and the Gold Coast will “joined”

Interesting times ahead…….

Cheers,

Battz

[battz71Participant@battz71Join Date: 2003Post Count: 95]

February 25, 2004 - 12:32 am

Thanks Leigh,

Its great to hear stories of actual deals. I will certainly be looking at this option in the future as it looks like a great way to expand your property portfolio with limited cash – provided you can service the debts.

I can see this becoming even for effective in a “down” market where vendors are more motivated an would be more receptive to creative offers. I’ve heard its a little for common with commercial deals, but not so much with residential.

To coin a “McKnight phrase” it can sertain create “win-win” situation.

Thanks to those whom have responded –

Cheers,
battz

[battz71Participant@battz71Join Date: 2003Post Count: 95]

February 23, 2004 - 12:25 pm

Pisces,

Im not sure what brought about the broad handed slap that my question was “merely a theoretical question”.

I have asked questions before and as a result have been able to implement these suggestions/ideas when buying property.

I thought this site was about the sharing of knowledge? I have read the sugestion both on this site, and in several publications about the possibility of vendors “leaving some in”, but have never heard of it actually done in practise.

Apologises if my question were of a basic nature, but by knowing the basics I will be able to start looking at these deals.

Cheers,

Battz

[battz71Participant@battz71Join Date: 2003Post Count: 95]

February 23, 2004 - 12:00 pm

I hadn’t thought of this application with “off the plan”, would that be a possible option?

[battz71Participant@battz71Join Date: 2003Post Count: 95]

February 23, 2004 - 9:28 am

G’day all,

Hope nobody minds if i revivie this interesting thread I came across….

I am very interested in the concept of 100% finance with the vendor “leaving in some $$$” as it sounds as if it can create a “win-win” situation.

I am looking for some additional “nut & bolts” details on this topic. Not sure if its best to ask the floor, or if members can direct me to a suitable book.

Basically my questions are:

1. Will lenders provide an 80% LVR if they know the other 20% is being left in the deal?

2. What are “typical” terms made with the vendor in relation to term/interest rates?

3. Does this mean that the vendor now has a 2nd mortgage over the property? If so what rights do they have.

4. Does anyone have an example such an agreement(or know where I could find one) with the vendor to give an idea of the sort of conditions that you would need to take into account.

I would love to hear from anyone whom have 1st hand experience with this.

Thanks for having a read…

Cheers,

Battz

[battz71Participant@battz71Join Date: 2003Post Count: 95]

November 10, 2003 - 11:58 pm

I went to Dolfs Brissy 3hr seminar on Saturday. ANd yes I agree with comments here that he basically covers what is in Real Estate Riches.

In saying that just to hear the man live is impressive. ANd he does challenge your “old ways” of thinking. He is very motivating, and that alone is worth $60.

He also discusses his current project in Vegas, where he has bought 52 properties in 10months using a clever/risky strategy.

All in all im a Dolf fan and have enjoyed his book and hearing him speak.

Cheers,

Battz

[battz71Participant@battz71Join Date: 2003Post Count: 95]

October 28, 2003 - 8:09 am

Cheers Truska,

Thanks for your comments. Its been great dealing with you, and Im glad you were able to secure the 3 properties. Exciting times ahead…

I am fortunate that I am in a position where I have the time and ability to research both locations and the actual properties. I found the use of a video camera excellent value. It provides great detail for future reference (including the commentry) and enables buyers to have a “virtual tour” of the property.

As Truska mentioned though, it is critical that buyers conduct their own due diligence. I can provide statistics, opinions, trends, figures, rents & local town gossip, but at the end of the day it is the investors $$$$ and they need to perform some research as well.

There are still plenty of +ive cashflow properties out there.

If anyone would like any further information, feel free to email me vmax at bigpond.net.au

Congrats again Truska,

Cheers,

Battz

[battz71Participant@battz71Join Date: 2003Post Count: 95]

October 24, 2003 - 2:06 am

Taylah,

Drop me an email vmax at bigpond.net.au

Cheers,

Battz

[battz71Participant@battz71Join Date: 2003Post Count: 95]

October 24, 2003 - 1:00 am

G’day Andrea,

i have just got back from 8 days in NZ (flew back in on Wednesday) where I made a few contacts with RE agents and Banks. Drop me an email vmax at bigpond.net.au

Cheers,

Battz

[battz71Participant@battz71Join Date: 2003Post Count: 95]

October 10, 2003 - 6:44 pm

G’day Helen, (no dont ask me why Im replying at this silly time of the morning [|)])

I bought my first IP 4 weeks ago, Steve’s book provided great inspiration. I have been researching property for a couple of years now, but only seriously for the past 3 months or so.

Unfortunately limited funds has reduced the amount properties I can buy, but as they say the strong tree grows slow.(but I wish it would grow like a weed!)

Once I’d done the research I went out to a country Qld town and looked at 50+ houses in 3 days and submitted 10 or so offers to buy one IP. I bought my 2nd IP 2 weeks later after much negotiating.

I also intend to do some work now as a “buyers agent”, as it seems there are members of the forum whom are happy to pay for the service.

Good luck with it all Helen. I read a quote from Steve somewhere on the forum, something about “finding problems and then solving them”, that is the way to make a deal. Dolf De Roos calls it finding a “property with a twist”

Cheers,

Battz