Forum Replies Created
Investgods…… big name to live up to : ‘gods’
CastleDreamer
Bah, if you aim for a prince, you will walk past quite a few nearly princes, one of them will do me very nicely.
I must admit they did look very good together at the wedding – I am a sucker for a man in uniform!!!
CDCastleDreamer
Hi All,
I am a little like Ibuycashflow – at the moment I am busily pursuing +cf properties. My aim is to balance my portfolio and create enough cashflow in to pay for PPOR repayments and -ve geared property in Brisbane. I am at that point now with only three careful cf+ purchases. I am so thoroughly enjoying the unlimited opportunities that I will continue to chase +cf, but at the same time, now that things are quietening here in Brisvegas, I will be looking in my own backyard to see what’s going on – and that will be -ve geared property at this stage.
Cheers
CDCastleDreamer
Monopoly, I cannot get a full appreciation of who you really are, except to say that perhaps you need HRT. You seem to very easily bite people who to all outward appearances on the thread, have not drawn claws against you. Replies such as yours are detracting from the thread main content, which in this case was Tycoon asking about whether we all thought it was possible for him to achieve his dream. I am not that interested in you thinking that RussH has his jockstrap in a twist. Take a breath honey.
Tycoon, I agree with some of the other posts here. It is good to have the security of the job, and I have chosen that path for the next two years. HOWEVER, none of us can chose for you, all we can do is tell you a little about what we have done, and you have to decide yourself.
I know of three other people who have given away the full time jobs to pursue property investing – and they work harder than a full time job now I might add.
Monopoly and the others are right and wrong about LOWDOC, NODOC loans. The best people to talk to about these while you are doing your homework on whether to quit would be a few brokers, not necessarily the opinionated lay people of this forum!!! (You will see that Mortgage Hunter replied in this thread, perhaps you could seek advice from him and other brokers to really ensure you have done your homework)
Regards, and all power to you with your dreams Tycoon.
Cheers
CDCastleDreamer
Here’s another thought, if you sell the house and include the depreciated prices of the chattels in the contract, then the depreciation shouldn’t be added back on as it is now ‘real’ value in that it has been acknowledged in the contract. Therefore the growth must have been in the land not the chattels/house. Can someone please explain depreciation clawback and how to minimise it legally, a little better than I have done here please.
CDCastleDreamer
I must be in one of my philosophical moods, as it strikes me clearly that your point, Steve about not waiting for opportunity to tap you on the back, is so pertinent for all areas of life. If you see an opportunity, you need to be brave enough to have a go, and take it on the chin with a grin if it doesn’t work out. “They” say that the greatest number of opportunities are right where you are. [happy2]
The property concept is definitely true, Mini’s garden shed, Monopoly’s carports (are they like little green houses and red hotels? Can we add them to the game??!!!??!!) my backyards, and the host of other things that people have suggested here and on other threads in the past.
I’ve heard another forumite use the saying “money follows management” – I believe this is from Steve and Dave. It’s so true, and it goes hand in hand with you sometimes “need to spend money to make money” Put these together, manage the money you spend really well to add value close to home, think laterally and you will end up with win win situations all round, happy wealthier you and family, happier tenants, happier bank manager etc etc etc.
Cheers
CD[smiling]CastleDreamer
Hhhmmmm, I seem to miss the meaty bits of this thread constantly!!!!
CDCastleDreamer
Hi Steve and fellow forumites.
My new tenants are getting fences to turn their flats into little townhouses. I am also gardening the front, painting the besa block, and putting extractor fans in the bathrooms. Its not a huge outlay, but it will completely change the character of the block, and make it more attractive for the tenants to call home – and hopefully stay there forever as nice tenants!!
CD
CastleDreamer
Thread now very boring = martonw very boring, yawn, ditto on Mini and Wilandel…..
Goodnight
CastleDreamer
Duh, noone said they weren’t cheap brahms, but even people who live in countries with cottage industry and tourism ‘dependency’ (word used lightly) need to live somewhere, and yep, they even rent houses.
I may be missing the point, but I get the sense that you are dissing on the strategies that some of us are using to build our portfolios (if I am wrong, sorry, but the sense of your thread hints at that)
Monopoly, even investing in your own town can have bad results with RE Management. I have a place bayside Brisvegas – I didn’t even get a chance to sack the PM, her agency sacked her before I got to sack them. She was shocking. And yes it was a little easier to deal with, but not that much.
Brahms “of course read it ….. blah blah blah ….” glad you are so up with everything. Wish I was that smart and happening (slight hint of sarcasm here, similar to what I sensed in your reply to Mini)
That’s my two cents worth….. if you don’t like cash flow positive investing – fine, but don’t diss us on a cashflow positive forum!!!!!
CD
CastleDreamer
What about Brisbane within ten Ks of the CBD, positive cash flow. I know how to make that happen, it just requires a little lateral thinking to turn the house into positive cashflow, but it can be done, have friends doing same as we speak.
CastleDreamer
Paramedic educator
CastleDreamer
Nice avatar DD!!
Yep, the girls look like they have been having a go!!
11sec solution.. is it still valid?
I don’t know about ‘valid’ (not sure what you are asking) but can you still find property that fits it?ABSOLUTELY
clean, tidy, current sitting tenants, maintained properties that aren’t feral places – my dog and I would quite happily live in them – and invite friends over for tea.
15% returns, stable populations bases with multiple industries in town. What’s wrong with that critics out there??????I am glad we all think differently, otherwise half of you would be running around competing with me for deals!!!! Which we aren’t doing because we all find our niche, and happy thoughts to all
As Mini says, joy to the world
As I say, take a big breath and get over it!!CD
CastleDreamer
Nada for me
but Dad’s TFN got a hit – maybe I should ask him to share the windfall!!!!!!!CastleDreamer
I’ve met DD as well, seems straight up and very very motivated for clients. When I get enough of NZ, I will be seeing DD for QLD buys
I don’t charge my family or friends either!!
joy back Mini!!!
CastleDreamer
Yep,
and even with the rates that high, you can still get positive cash flow houses!!!!!CastleDreamer
One year only for a couple and thirty months for the duplex.
CD
CastleDreamer
Well gents, I am happy I have fixed in my interest rates for the next 18 months with my properties – rates between 6.8-7.05% will keep me happy!!
CD
CastleDreamer
Hi WAF,
I would ask these questions myself:
Will your insurance cover the building – does the fineprint require that the building have all legal permits and council approvals – doesn’t matter how sound it is, if something goes wrong the insurer could point you to the door.
What about public liability with tenants in place? another insurance question to check out.
Will council inspect the property and issue a compliance certificate retrospectively? Can you find out and then chase the vendor to have this done prior to you agreeing to go unconditional. If they can but won’t, then consider offering a reduced purchase figure to account for the costs you will incur getting the approval, and also some big extra for the risk you take buying it.
CDCastleDreamer
Good question wayneL. I didn’t think of this. Should I seek advice, damn wonder if I can get the airfare back (lol)
Interesting question to followup though……CD
CastleDreamer
