Total Members: 158,357

BoughtWithEquity

  • BoughtWithEquity replied to the topic Where in VIC? in the forum Help Needed! 10 years, 5 months ago

    If I had $400k to invest….I'm not sure I'd be doing it in Australia or be happy with 6% return.  Just me.  I'd diversify or at least look at several options abroad.  The west coast of the US, parts of FL or Atlanta where I am.  You can buy a renovated & rented unit for $60k to $80k with a net rent of 10% or take a little more risk and earn 10%…[Read more]

  • I can't for the life of me imagining collecting weekly rents unless I lived in the unit.  I have a few renters that I let pay bi-weekly at a slightly higher rent.  With over 400 doors in the program now, it's tough enough running around town collecting what we've got.  Fortunately, most of these units are with private homeowners where we just…[Read more]

  • Is anyone doing shared housing in Australia?  I would think it would work there….it's interesting that rents are quoted there by the week. Is it collected that way too?  That would be a huge headache I would think!

  • Yes, we rent the rooms separately to different people.  All of the tenants are thoroughly screened & vetted and we try to match them by personality & lifestyles.  It's pretty common around university towns.  I started switching everything I do to shared housing back in 2007 but I've been doing it off and on since college years in the late 80's.…[Read more]

  • BoughtWithEquity replied to the topic NEW: US Property Focus Group (Free to Join) in the forum Overseas Deals 10 years, 5 months ago

    The above video link isn't working anymore but you'd have to have more money than brains to buy anything in Detroit…..now if they discover oil there…..you might have something then.  Outside  of that developing, you'd be pouring money down a rathole.  It doesn't matter where you are investing anywhere in the world, if you aren't in your local…[Read more]

  • BoughtWithEquity replied to the topic Integrity Property Investor Services in the forum General Property 10 years, 5 months ago

    Sorry for your loss Richard – I'll look forward to your future posts.

  • BoughtWithEquity replied to the topic Wholesaling? in the forum Overseas Deals 10 years, 5 months ago

    You might want to consider partnering with some with cash in your market and use you contractor expertise to buy & flip properties where you are located.  Doing anything at a distance is difficult at best.  You might find a program like ours where you can network and still make money in real estate without more than an investment of time on your…[Read more]

  • BoughtWithEquity replied to the topic Career Advice Please!!! in the forum Opinionated! 10 years, 5 months ago

    You definitely got some great advise across the board from the group.  You've got a great job which is going to be tough to replicate in the current economic climate.  Take a look at your life goals and what you are trying to accomplish while you are here. It's all over in the blink of an eye.  Money is important but so is enjoying your life.  I…[Read more]

  • BoughtWithEquity replied to the topic Help – I am a new investor and my mind is boggled! in the forum Help Needed! 10 years, 5 months ago

    First off, you've saved up over $100k on a $60k annual salary….that's awesome.  2nd, you're here getting advice.  3rd, you're never too far along with any broker to sever ties and move on.  Erase that thought from your mindset.  She works for you…not you for her.  A good mortgage broker for investment property should own some of their…[Read more]

  • BoughtWithEquity replied to the topic Help > Vendor finance in the forum Help Needed! 10 years, 5 months ago

    I wish we had the tenant bond here in the states.  Owner financing can makes sense on a couple of levels.  I have alot of partners here who offer owner financing as a short term option.  The tenants put up extra cash as "option" money – usually $5 or $10k that gives them to option to buy the property within a certain time frame usually a year or…[Read more]

  • BoughtWithEquity replied to the topic Buying a 2nd unit in the same complex? Bad idea? in the forum Help Needed! 10 years, 5 months ago

    I think it comes down to knowing your market.  In the US, I can usually pick up a very cheap condo or townhome that was a poorly producing investment property bc either the management was awful OR the owners had no idea what they were doing.  My favorite buy is the 2/2 townhome with a oversized living room or extra sunroom.  I turn that into a 3rd…[Read more]

  • In the US we have – The Servicemen's Civil Relief Act – (SCRA) allows-a-service-member or dependent to lawfully terminate a pre-active duty lease under certain circumstances. If your lease contains a clause charging damages for such a termination, you may have to pay this amount. The leased premises must be used for dwelling, professional,…[Read more]

  • BoughtWithEquity replied to the topic Property Management Fee Structure – Confused!! in the forum Help Needed! 10 years, 5 months ago

    I've honestly never heard of anyone charging this way.  It is usually a percentage of the monthly rent here in the states…somewhere between 8 & 10% is typical.  Do you have a contract with them.  You should….and it should all be spelled out there for you.  I'm in the states so not sure about fortnight but I think it means every 2 weeks.  Looks…[Read more]

  • BoughtWithEquity replied to the topic Finance for US Property in the forum Overseas Deals 10 years, 5 months ago

     Sorry all, the comment above was meant to post to a much older thread about wholesaler mark-ups and not for here.  Not sure how that happened.  The hedge funds will fail both at the rental game and the appreciation game..at least in my humble opinion.  Some already know it or there would be no reason to reach out to me to see how our  model…[Read more]

  • BoughtWithEquity replied to the topic What’s YOUR biggest property investing problem? in the forum Help Needed! 10 years, 5 months ago

    Time!  I need more hours to run through all of the deals that come my way these days.  I create shared housing in my market and have more renters coming at me than there is time to place.  I really could use another 12 hours in the day in order to balance biz & family better!

  • BoughtWithEquity replied to the topic Partners in investing in the forum General Property 10 years, 5 months ago

    We JV with our investor partners all of the time and it works out well for all parties but we are almost always using cash.  Better returns are produced by leveraging and our partners appreciate the returns for passive activity.  What is it that you are looking to do?

  • A good property manager is worth their weight in gold any day.  If you are a nice person, especially if you are friends with the renter, you definitely need someone neutral and detached from the situation.  Otherwise, you will be prone to giving the renter a break or renting for less than market rent.  I manage a ton of my own properties because I…[Read more]

  • BoughtWithEquity replied to the topic Finance for US Property in the forum Old but worth a couple of 10 years, 5 months ago

    Old but worth a couple of comments.  We all grumble about mark-ups on wholesale property but if the numbers work – who cares?  I buy from tons of wholesalers and I don't mind paying their mark-ups because they same me the headaches of making offers on listed properties that end up selling either in packages to hedge fund buyers or go for double…[Read more]

  • BoughtWithEquity replied to the topic List of Property Spruikers in the forum General Property 10 years, 5 months ago

    A problem for many investors is simply comparing the various real estate investment groups that are out here.  I think the key to it is seeking a group offering the most security and a model where their real payout is based on their continued performance.  I've personally been involved in various types of real estate investing over the years here…[Read more]

  • BoughtWithEquity replied to the topic Concrete patch and paint or resurface? in the forum Value Adding 10 years, 6 months ago

    I'm not sure how large an area you are talking about….or how many or how large the holes are…but you could patch the holes with regular concrete mix first.  Allow that to cure and harder…then clean & prep the rest of the concrete with a pressure washer.  Not sure this product is available in your market but I've used Quikcrete Concrete…[Read more]

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