[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

September 29, 2013 - 7:41 am

I am wondering if disco is related to Dr Benson and pushing more information to further the cause??

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

September 8, 2013 - 6:50 am

A huge congratulations Steve!!

$100K (gross) passive income with PPOR paid off in less than 10 years – impressive. It's posts like these that bring these threads alive for everyone. 

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

September 8, 2013 - 4:26 am

Yep, clear as mud. I recognised the first link, but when it was in twice, it got me thinking…..

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

September 7, 2013 - 10:01 pm

Hi munmun

The 2 links you include in your post appear to go to a 'Back to the Future' preview??? Is Steve taking everyone back to what he was doing in 1985 ??

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

August 20, 2013 - 1:48 am

Great post Wilko,

Then as you develop relationships with the developers, you can learn about the property market as well. Where are you located? Are there many developments occurring in the area? I think it would be easier to start a business in an area you know in depth, rather than learn a new market (property spotting, then develop a business out of it).

John Lindeman and Terry Ryder are 2 big names in hot spotting. Or are you looking more at being a buyers agent? There are many BA on this forum or at rebaa.com.au (or am I totally off the track here?? .

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

August 19, 2013 - 1:11 am

This article might also help the analysis paralysis – https://www.propertyinvesting.com/user/property-investing-news/blog/investments-sake

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

August 17, 2013 - 11:35 pm

Hi Spongy

Reading this thread, I think so many forumites can agree with you – the analysis paralysis, being hesitant, one partner holding back etc etc.

Jac, Richard and Jamie have all provided great comments and I definitely think starting with Jac's question about the fear is the one to start with – for yourself and your husband – make sure you are both on the same page.

I am the more active person in property investing – while my partner is very supportive, he lets me do all the researching and learning, then I present ideas to him. He is great as he asks questions and I know that if I can confidently answer the questions, then I am on the right track – if I am not sure then maybe I haven't confirmed my research, or it is not the right path for us.

As I introduced new members into the team (conveyancer, accountant, etc) we went together, so everything was clear to both of us and we were both comfortable. Richard and Jamie could confirm or deny this, but I think this would be very important as you start discussions around structuring your loans and portfolio. I am sure both would provide guidance for you about how to structure your loans so to keep within your risk tolerances.

Richard/Jamie, how do you work with interstate clients where most of your work is by email/phone? In Spongy's situation where her husband appears to be the more risk adverse person, how do you allow both parties to ask questions to ensure they are both comfortable along the way? Do you have access to Skype, do you recommend they meet you face-face initially?

 

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

August 16, 2013 - 10:51 pm

Many thanks for your detailed response Jacqui, a great explanation.

I was a little slack with the use of the term 'trading properties', I certainly agree with you that the buying and selling costs erode any profits, and I am a fan of the buy reno, reval process (where sales prices allow for the reno to make enough of a difference!).

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

August 16, 2013 - 10:38 pm

JacM wrote:

Hi Kallan

You have said the magic words…. money in super.  Would it be rude to ask if you know how much is in there?  This will help us see how many properties you could buy straight up front with the funds already in your super.

Hi JacM

I am interested in your comments about buying inside SMSF. I assume that Kallan is younger and therefore, would not want to tie up his properties until he reaches retirement age?? I have an interest in buying through a SMSF and have certainly heard the benefits of buying in super. I have not taken it further as I thought that if you are younger, would it not be better to buy in your own name so you can freely trade properties to build your wealth?

Cheers,

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

August 14, 2013 - 10:52 pm

There is a lot of vacant land through the area, so this may keep a lid on rental yields and CG for a while (even up to 10 years as the area is developed). Possibly look closer into Liverpool, you could buy 2 apartments for up to $600K. I realise your budget is up to $500K but the good brokers on this forum could provide some advice depending on your situation. 

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

August 14, 2013 - 12:05 am

While cost of the agent is one consideration, as Queensland tourist points out, make sure they are property savvy and up on all the latest ins and outs. It sounds as though you got your recommendations through posters in this forum, which is great.

My accountant is probably on the more expensive side, but she knows all the ins and outs and provides me with advice during the year (I don't use her solely for the annual tax return but bounce my ideas off her through the year) and she gets me a great tax return to boot (even found deductions that the last accountant missed out on)! 

In choosing my accountant, I interviewed a number of accountants, asking their comments on a range of investing topics so I made sure they were knowledgeable in the areas that I needed them to be knowledgeable in.

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

August 8, 2013 - 10:49 pm

Depending on how big the area is where your property is located, I'm wondering if you will become known as a difficult landlord in the town (just have to think of the longer ramifications).

If you move forward with the process, all the best!

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

August 8, 2013 - 10:29 pm

Here is a link to a previous post that might give you a few leads – https://www.propertyinvesting.com/forums/help-needed/4347727

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

July 21, 2013 - 9:58 am

Also start researching areas that might be of interest to you (and visit if you are able) and visit open homes to see what $x will buy. I have heard that people start guessing how much a property will sell for, then check back when it has sold to see how close they are.

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

July 14, 2013 - 6:54 am

Ok, so I realise this thread is rather old now, but wealthscore has scored itself a home far far away???

I was looking to have a play and see how I fared….

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

July 7, 2013 - 6:51 am

Freckle wrote:

China's the key for the time being. It's in all sorts of bother and deteriorating much faster than most realise and many pundits are willing to admit. It's the only growth driver in an otherwise struggling global economic landscape. China's demand is about the only thing holding the big economies together at the moment. While things are bad in some economies the demand out of China makes the difference between surviving and drowning. 

Throw in Japan and you have the makings of a king hit to Australia economically. We live in precarious times.

Can't agree more Freckle. It is interesting that the graph also included the rate of engineering investment, which is steamrolling ahead. It would be interesting to see how this engineering growth plays out (does this mean increased manufacturing, which I have heard rumoured), but without comparable wages with the rest of the world, our products will never be competitive. 

Australia seems to be always at the mercy of others (being a supplier rather than a producer) and therefore we are always chasing others.

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

July 7, 2013 - 6:43 am

Yes, I would agree.

I think you would need to be ready to take action before undertaking a mentoring course such as this as they will be leading you through deals that you find and if you aren't able to act, it is all theoretical and you wouldn't get the most out of the course.

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

July 6, 2013 - 1:21 am

Hi Robert

Here are some links from people who have done the course. You might like to contact them directly to talk through your situation.

https://www.propertyinvesting.com/forums/help-needed/4347552

https://www.propertyinvesting.com/forums/property-investing/general-property/4330820

https://www.propertyinvesting.com/forums/property-investing/help-needed/4330007

https://www.propertyinvesting.com/forums/property-investing/help-needed/4334410

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

July 2, 2013 - 9:34 am

But should we start a debate about how low the rates will go in the next 6 months???

A few comments about 2% – what is this based on, and (more importantly) will the banks pass it on…..

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'

[ChrisA1Participant@chrisa1Join Date: 2011Post Count: 172]

July 2, 2013 - 9:29 am

It appears that it comes down to how good the individual inspector is (since the company employs many inspectors rather than being a sole operator).

I don't have a specific comment, although I have heard excellent comments about Steve Koelewyn, a Sydney pest inspector, so in lieu of other comments about Inspect My Home specifically, you could give Steve a call to see if he could recommend anyone.

http://www.ausinspect.com.au/

ChrisA1

Persistence is 'to keep on keeping on, no matter how hard the going may be'