Hi, Maxolau

I do not have reno experience. At my current rental, it has a very 80s feel to the place, including kitchen bench tops with a lime green plywood layer on it.

One kitchen reno question on the thin plywood layers on the kitchen bench tops. When you mention replacing the plywood layer, do you mean just simply rip out the old ones and…[Read more]

Hi, Ausprop

Don’t suppose you could find the link to that article. It would be an interesting read.

Regards
Daniel Lee [specs]

Hi, wealh4life

I saw your estimate a while back. Am not surprised that you got it right.

In my home country of Singapore, the young are also spending quite freely. Many people I know do not have the financial literacy to really become rich or accumulate some serious wealth. Most of my friends in their late 20s do not even begin to scratch the…[Read more]

Hi, Nikki

I agree with many of the comments in that it would be better to hold, collect rent and let your property appreciate further. Especially so if you are not in need of the money.

The population in Darwin will continue to grow and there will always be people looking for rentals. Those two properties can be used as your cashcows to fund…[Read more]

Hi, Ty

If I was in your shoes, I would take some time to work through the redundancy and then decide on my next step. Being made redundant is a big shock to anyone.

I have not been made redundancy before, but have met a number of people who have. Many tend to feel a need to immediately do something like start up their own business, citing…[Read more]

Hi, Russ

I agree with many of the comments. Most RE books simply tell you basic knowledge that you would have already known if you have read enough of them. It could well be simply reinforcing the point that you might be down the right track.

Each book would have a particular bias towards a particular approach. I believe it is really up to you…[Read more]

Hi, Ibis

When I started learning about RE investing, I bought the Australian Property Investor Mag and went down to the local community library and looked at their RE investing section.

Many of the available RE investing books in a community library talk about the basics of RE investing as well as intermediate RE topics.

My advice is to start…[Read more]

Hi, Jimmy

Steve’s books are on positive cashflow RE investment, not on positive gearing.

Made a typo mistake with my previous reply.

Regards
Daniel Lee [specs]

Hi, Jimmy

All of Steve’s books are on positive cashflow RE investments, not even positive cashflow.

Start by reading up his first book ‘0 to 130+ properties in 3.5 yrs’. You will get much of his ideas from there.

All the best.

Daniel Lee [specs]

Hi, Milly

With the immaculate house, it might already be at its best selling price and there is not much you might be able to do to release value with minimal outlay.

With the block of rundown flats, a new coat of paint and some general maintenance could quite quickly bring up its value and even rental yield.

Of course, with the house, there is…[Read more]

Hi, Gecko

I agree with a number of the replies. Definitely ready up on Neil Jenman’s book. It tells of many tricks that RE agents use to get their listing and commission.

If the agent was really good (and honest) and in touch with the market, he would have told you the realistic worth of your property and chances of selling in the current Perth…[Read more]

Hi, Dave

Could you send me a link to your cashflow calculator (buy, rent and hold) as well.

Would save me from constantly making adjustments to my ‘imprompt’ spreadsheet.

Thank you

Daniel Lee [specs]

Hi, Guys

After reading the opinions, I just wanted to clarify on redrawing extra repayments and taxation.

The redrawn extra repayments will not be treated by tax deductible, due to the fact that those extra repayment is considered your own private money (Your own earnings).

So, when Row moves out and declares her old home as an invetment…[Read more]

Hi, Guys

After reading the opinions, I just wanted to clarify on redrawing extra repayments and taxation.

The redrawn extra repayments will not be treated by tax deductible, due to the fact that those extra repayment is considered your own private money (Your own earnings).

So, when Row moves out and declares her old home as an invetment…[Read more]

Hi, Gary

Is there a particular time where the Melb / Vic group will be meeting you at the expo, or is it more like a ‘own time own target’ kind of an approach?

Thanks
Daniel [specs]

Hi, Pedro

Go to http://www.888abundance.com. Gary Seeto runs the site and he is in the process of setting up Young (at heart) property investing clubs all over Australia.

Regards
Daniel [specs]

Hi, Creation1

I agree with Mortgage Hunter. There is no right or wrong answer.

On one hand, you could go for an IP, earn the rental, pay tax and use the rental income for investment. On the other hand, you could get your own place, pay down the place and use the equity from there for future investments.

Depends on you and your partner’s…[Read more]

Hi, Katie

It is important to understand why you want to get into property investing at the first place. Has there been a reduction in your sense of security, hence you are viewing property as a potential source of security? (Economic security vs Wealth accumulation?)

With that understanding, have a read of ‘Rich dad, Poor dad’ by Robert Kiyosaki…[Read more]

Hi, James

I agree with some of the views, in that paying $300 per wk to hold over a million in property is not too bad. Just need to figure out creative financing methods to balance the cash flow.

As for property prices rising every 7 – 10 yrs, that is like saying computer processing power doubling every 18 months (Which is not true, or else…[Read more]

Hi, alotti

True about what you said. Eventually, a CF- property can become CF+. The main issue is how long are you willing to wait, and how much money are you willing to fork out from your own income?

Even if you have a large disposable income, there is a limit to the number of CF- properties you can eventually hold. There is also a lilmit to…[Read more]