PropertyInvesting.com | darrenb | Activity https://www.propertyinvesting.com/members/darrenb/activity/ Activity feed for darrenb. Sun, 12 Apr 2026 20:23:30 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 504b93aa1b56b0715702e2c8ac846a9e darrenb replied to the topic Steves new Book, Comment and Question in the forum No Subject https://www.propertyinvesting.com/topic/4376254-steves-new-book-comment-and-question/#post-4491571 Tue, 05 Oct 2004 04:02:26 +0000 I got it from Borders, Chadstone, for $21.95!!!!

Good read too.

]]> b2516d68a3a00a93e8a70d04c01e65e9 darrenb replied to the topic Tasmania Growth in the forum General Property https://www.propertyinvesting.com/topic/4375170-tasmania-growth/#post-4484128 Wed, 28 Jul 2004 09:32:01 +0000 Population growth is definately there.
I recently purchased 10 acres on the outskirts of a NW town for 350k, to be subdivided into 40 blocks at 60k a block. Development will cost 800k.
Positive cashflow aint the be all and end all.

]]> 8745176a714fe278670ca31918b89c06 darrenb replied to the topic Multiplication By Division in the forum General Property https://www.propertyinvesting.com/topic/4374058-multiplication-by-division/#post-4476182 Thu, 03 Jun 2004 05:26:48 +0000 Thanks Steve for advice
Its a great little property that is very low maintenance.
However, Im doing a land subdivision, and Im 100k short, thats why I need to sell. The land subdivision could potentially be a 700k – 1 mill profit. So its definately a case of multiplication by division on this one!!! And I need to be cashed up!!!
Alternatively, I…[Read more]

]]> eacd42983d2bfd427fb27ff16466459c darrenb replied to the topic Multiplication By Division in the forum General Property https://www.propertyinvesting.com/topic/4374058-multiplication-by-division/#post-4476173 Mon, 31 May 2004 06:23:06 +0000 Steve, you said you’d be crazy to sell the gold and keep the mould.
Whats your definition of mould, as Im in a dilemma at the moment?
Would you consider selling a property (block of flats)that has yielded 12.5% on purchase price and will yield 9.5% on refinance, that is in a town with little potential of population growth as mold? Population of…[Read more]

]]> 6c8d18b2a705b3ebe02e5a632fbe9142 darrenb replied to the topic Cooling Market and Wrapping in the forum No Subject https://www.propertyinvesting.com/topic/4374052-cooling-market-and-wrapping/#post-4476121 Fri, 28 May 2004 05:26:44 +0000 Are you guys getting people with at least 6-7 grand hurt money excluding the FHBG?
When I see numerous adds in the paper (in melb and geelong) that say NO DEPOSIT, that were I believe there will be blood in the streets if interest rates rise. (My opinion only)

]]> 8cd9acfc0ca048c3d44ab6f6b371bae5 darrenb replied to the topic Cooling Market and Wrapping in the forum Creative Investing https://www.propertyinvesting.com/topic/4374052-cooling-market-and-wrapping/#post-4476118 Thu, 27 May 2004 03:37:54 +0000 I did alot of wraps in the Latrobe Valley in the good old days when houses were 35-50k each and Geelong was awash with 60k houses.
It always amazed me that some people got into strife in paying $90-$120p/w in repayments.
With people wrapping homes in these areas at double and triple these prices, I am certain there will be blood in the streets in…[Read more]

]]> 36fcc16dc3e7c964d0c651a4accff56a darrenb replied to the topic One Property in NZ in the forum General Property https://www.propertyinvesting.com/topic/4373062-one-property-in-nz/#post-4468663 Wed, 21 Apr 2004 03:46:14 +0000 Yes, I did. A block of 4 flats on 1 title.

]]> d57b3928d7202df29c42a59b95ccae9d darrenb replied to the topic Buying in NZ in the forum General Property https://www.propertyinvesting.com/topic/4371899-buying-in-nz/#post-4459686 Wed, 10 Mar 2004 05:37:48 +0000 I agree with Westan on the agents honesty.
After viewing several properties with one agent, on the south island, he totally turned me off buying those run down hovels that people are flocking to buy. Yields might be 12-15%, but you would be nuts to buy em.

]]> 59b30352550605c530522b3ada67924e darrenb replied to the topic Cashflow US vs. Oz Huge Difference?!?! in the forum No Subject https://www.propertyinvesting.com/topic/4371193-cashflow-us-vs-oz-huge-difference/#post-4454072 Thu, 12 Feb 2004 07:35:26 +0000 Yes the yields look good on paper and higher than OZ, but the expenses are higher.
(Any country is better than Oz for cashflow)
For a block of flats expect a net yield of 8-9% (after expenses) in Florida, Texas. Forget California. Neg cashflow.
You can get 20% plus yields in north east New York and properties (duplexes/triplex) as low as $20,000,…[Read more]

]]> 5838511521bdcf4fafa34d6880728298 darrenb replied to the topic Residential as opposed to commercial in the forum No Subject https://www.propertyinvesting.com/topic/4370443-residential-as-opposed-to-commercial/page/2/#post-4448004 Thu, 15 Jan 2004 04:36:52 +0000 MJK
Net is after all expenses. The complex currently runs at 11% net/13% gross, plus GST.
The property has 44 sheds and will be expanded by 50%. It is comfortably managed by an agent. It is on the outskirts of melbourne.
If you keep an eye out, storage units come up for sale frequently. But you have to have 30-35% deposit.
Pisces
The property was…[Read more]

]]> 5bfa9eec85ed678fe6934e9f1e2d4c10 darrenb replied to the topic Residential as opposed to commercial in the forum General Property https://www.propertyinvesting.com/topic/4370443-residential-as-opposed-to-commercial/#post-4448000 Tue, 13 Jan 2004 14:40:37 +0000 MJK. I bought it 15 months ago as a going concern for 390k, at 50k gross rent/40k net. I am currently in the process of further developing the property and increasing it by 50%.
It is a cash cow and has alot less headaches than residential.
In the states, self storage is considered the most blue chip of all commercial investment.
If you can afford…[Read more]

]]> ba3f188de870dd7534fdb42a9587f3b8 darrenb replied to the topic Residential as opposed to commercial in the forum General Property https://www.propertyinvesting.com/topic/4370443-residential-as-opposed-to-commercial/#post-4447996 Tue, 13 Jan 2004 06:30:56 +0000 I own a self storage complex and 3 blocks of flats that all have property managers.
I get phone calls from the property managers on the blocks of flats frequently. The usual tenant wear and tear mumbo jumbo.
I never here anything from the self storage manager.
Guess were my future investment funds are going?

]]> 9406071be277163f33dde9da478a924c darrenb replied to the topic Investing in 2nd mortagages in the forum Hotch Potch https://www.propertyinvesting.com/topic/4368453-investing-in-2nd-mortagages/#post-4431973 Sat, 04 Oct 2003 02:18:45 +0000 Id gladly give you 15% Bear1964, with a second mortgage as security[:)] dblair@bigpond.net.au

]]> f64777acc284bdd6d9ec2483848f8604 darrenb replied to the topic Can you still find them?? in the forum General Property https://www.propertyinvesting.com/topic/4368317-can-you-still-find-them/#post-4430954 Tue, 30 Sep 2003 13:39:12 +0000 Well I saw two blocks this morning in NSW country, one was yielding a miserable 12% and the second one potentially 15% plus!!! So I find it difficult to believe anyone who says their are no good deals anywhere.

]]> ea4cd68e85cb38fe4e0ed8a5b3ed1f86 darrenb replied to the topic Finding +ve cashflow properties in the forum General Property https://www.propertyinvesting.com/topic/4367975-finding-ve-cashflow-properties/#post-4428950 Fri, 19 Sep 2003 06:18:12 +0000 The internet is OK as a reference point, but if you really want to find the good deals, you have to GOYA and go to the locations themselves. Nothing beats driveing your car or fly to a location. The best deals are not on the net. If you buy of the internet sight unseen, you are nothing but a pig about to be slaughtered!

]]> edd4dc0445fa987069488a1864f1a40e darrenb replied to the topic Burnie Tasmania in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4367763-burnie-tasmania/#post-4427855 Fri, 12 Sep 2003 03:39:12 +0000 Merlo,I was in Burnie two weeks ago. Is this deal being marketed by the professionals? If it is the same property, it was listed for $280,000 two weeks ago and was a laughable deal at that price.
Burnie and Tassie has been saturated with mainlanders inflate the prices. Beware!

]]> 6afe17ec7021f7e623bac1cdf7a5f298 darrenb replied to the topic Finally an 11sec property - its commercial help in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4367742-finally-an-11sec-property-its-commercial-help/#post-4427718 Thu, 11 Sep 2003 11:05:12 +0000 It will be GST free if it is a going concern (currently tenanted).

]]> b0c07f7f6da0c4cd19eaf223cad15ca2 darrenb replied to the topic A Current Affair in the forum No Subject https://www.propertyinvesting.com/topic/4367645-a-current-affair-2/#post-4427284 Tue, 09 Sep 2003 06:23:28 +0000 Actually I bought a block of flats in one of the towns mentioned, Whyhalla SA, 8 x 2 bedders for $320,000, earlier in the year and due to settle shortly,which rents for about 41k a year. Nice coastal town and about 25,000 in population. Lots of very cheap houses that arent dumps and + cashflow.

]]> b4c68b3af7c53f4d5601b2ef21eeff44 darrenb replied to the topic Who's going to Nhill on Saturday? in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4367504-whos-going-to-nhill-on-saturday/#post-4426394 Thu, 04 Sep 2003 10:31:45 +0000 Good advice Westan. I agree,keep it to yourself!

]]> eaf7e9c6818f6b50f7e4add4b8d2fc8c darrenb replied to the topic Living The Dream ?!?! in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4366851-living-the-dream/#post-4421883 Thu, 21 Aug 2003 06:04:14 +0000 I too am in the same boat as Gus and live off the rents of my properties. Have done so for 18 months. Cant say much more than what Gus says as he is 100% on the focus aspect.

]]> 5e8a6141f7da6725a771153f9771a3b0 darrenb replied to the topic What's wrong with Rockhampton ? in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4366776-whats-wrong-with-rockhampton/#post-4421457 Thu, 21 Aug 2003 06:02:01 +0000 Im not sure if its an issue in Rockhampton, but if yoy buy further north in say Cairns/Townsville, insurance is double in what it is down south, due to storms/cyclones.
If anyone knows an insurance company who will insure as the same prices as down south, im all ears!

]]> 77857fc79cc531b06b38bc57770e1e19 darrenb replied to the topic Anyone bought a Block of Units ? in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4366865-anyone-bought-a-block-of-units/#post-4421975 Mon, 11 Aug 2003 13:38:20 +0000 I have a couple of blocks and you dont pay body corporate if you own the lot. 70% is the norm, but I recently found someone who will do 75%.

]]> b1cdb7d9c1107efd72e1ec1f51eed667 darrenb replied to the topic Not one success story! Thats encouraging. in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4366764-not-one-success-story-thats-encouraging/#post-4421368 Thu, 07 Aug 2003 23:50:10 +0000 Maybe some of us are humble Cremin and like it that way, but if you want some reassurrance Ive done 50 properties in 3.5 years. I only had 3 when I was lucky to meet David Bradley when he was just starting out. Took his advice and bought alot of houses to wrap. I still do a few wraps, probably another 20 in the next year, but also now buy whole…[Read more]

]]> 019a4ccc12ac47ed4a618300a3891858 darrenb replied to the topic Heatherton, Victoria in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4366576-heatherton-victoria/#post-4420225 Thu, 31 Jul 2003 13:56:36 +0000 You will find Heatherton is not 30klms from the beach, Id say about 7klms or 10 minutes in the car.

]]> 21b8232b9076d67b0f20261979a15996 darrenb replied to the topic Quantity Surveying in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4366530-quantity-surveying/#post-4419960 Fri, 25 Jul 2003 04:25:11 +0000 I just had a block of flats surveyed for $660, so stay clear of the $1500 one. Rip off!

]]> d00e526c9ca69f801913f9a96f4a65ea darrenb replied to the topic how to calc Interest only loan in the forum No Subject https://www.propertyinvesting.com/topic/4365943-how-to-calc-interest-only-loan/#post-4416589 Fri, 27 Jun 2003 12:16:33 +0000 This is a formula I was given by a NAB personal banker 3 weeks ago for a loan I had.

$84,000 * 6.56% pa /365 * 34 days = $513-30 per month

]]> 31ed7496f13d904c77ce10d11a7b1b2d darrenb replied to the topic Commercial Property Secrets? in the forum No Subject https://www.propertyinvesting.com/topic/4366213-commercial-property-secrets/#post-4418137 Thu, 26 Jun 2003 05:35:23 +0000 The biggest difference is that you have to have about 40-25% deposit. 40% will get you the deal based on the income of the property alone, whereas 20-25% deposit you will have to provide financials.
Their is nothing wrong with investing 5-8 hours away or even overseas, as long as you have a good property manager.

]]> f57cba9f6f3747ae60840881156a0481 darrenb replied to the topic crazy investors in Tas in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4366051-crazy-investors-in-tas/#post-4417249 Thu, 12 Jun 2003 11:25:17 +0000 Tasmania was discussed as an investment option at the recent Kiyosaki seminar. The general consensus was that why would you even bother buying there in the first place, unless you are a local. O prospects for population growth. Declining industry. Basically a waste of time.

PS These are not my opinions, but were by several RE gurus.

]]> 344b33d86aa22037acb5221283e740ed darrenb replied to the topic 80% LVR is it a bad sign to a area. in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4366046-80-lvr-is-it-a-bad-sign-to-a-area/#post-4417220 Wed, 11 Jun 2003 04:58:09 +0000 Because you can get 80% doesnt mean the area is bad, it means that the area has been saturated with alot of investors lately or First home buyers paying inflated prices for house and land packages and the mortgage insurers wont insure for 90%. I have heard that you cannot get LMI for the Latrobe Valley and Narre Warren South!

]]> a4057b983e6de9e96702a4f0d6271665 darrenb replied to the topic I have one question! in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4365540-i-have-one-question/#post-4414823 Sun, 13 Apr 2003 10:28:08 +0000 You will find a few people could retire, but hy would someone want to retire when they are making so much money?

]]> f3b68f8b97b259dea0e4fc50264ca989 darrenb replied to the topic Defaulting Tenant in the forum Hotch Potch https://www.propertyinvesting.com/topic/4365417-defaulting-tenant/#post-4414126 Fri, 11 Apr 2003 11:03:25 +0000 I was told a story today by an agent who was about to evict someone. Asked why he couldnt catch up his payments, his excuse was my Austar and mobile phone bills are due, it will have to wait!

]]> 15379635faa609f3dcf347b060c9f55f darrenb replied to the topic Book Title Contest... Win 'The Lot' in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4365519-book-title-contest-win-the-lot/page/2/#post-4414669 Tue, 08 Apr 2003 10:44:07 +0000 A couple of suggestions

“The 11 second rule, Fact or Fiction”

“Would you buy a used house from this man?”

“Follow the yellow brick road to Moe”

Sorry, these have no hope whatesover.

]]> 7cbce72227a0bcf7ef65425bb4103801 darrenb replied to the topic TASMANIA - Anybody investing?? in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4365338-tasmania-anybody-investing/#post-4413737 Fri, 04 Apr 2003 04:48:55 +0000 Mike, you are probably right that your boss has better advice than most contributers, but most newbies dont have a 30% deposit to buy a 1 million hotel. You have to start somewhere. I started buying little dumps in moe and morwell and 3 quickly became 30. Now these are being traded to buy whole blocks of units and medium commercial. Which comes…[Read more]

]]> fa47ec6284bb70692e0595f1e88d7a80 darrenb replied to the topic Defaulting Tenant in the forum Hotch Potch https://www.propertyinvesting.com/topic/4365417-defaulting-tenant/#post-4414121 Wed, 02 Apr 2003 07:17:24 +0000 Dont bother. You are wasting your time and energy for a small amount of money you will never get back.

]]> 72a508d46deb83a1631705f2b5692ea1 darrenb replied to the topic Can anyone recommend a property valuer??? in the forum No Subject https://www.propertyinvesting.com/topic/4365306-can-anyone-recommend-a-property-valuer/#post-4413605 Fri, 28 Feb 2003 13:43:10 +0000 Avoid that valuer like the plague!
Or should I say if you want a real low value, use them!

]]> 4f2a2b9e08aee43077d656db1aab5c5a darrenb replied to the topic Danny & Paul Hanna in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4365241-danny-paul-hanna/#post-4413337 Mon, 17 Feb 2003 14:04:42 +0000 Its probably the best valued intro seminar for $59 for 4 hours. They talk actual deals, not the usual 95% Ozzies will end up broke, cliched crap you here from most presenters.

]]> 568f751c66c386ada9a745d8b2dfd52d darrenb replied to the topic commercial loans wanted in the forum No Subject https://www.propertyinvesting.com/topic/4365138-commercial-loans-wanted/#post-4412845 Fri, 07 Feb 2003 14:15:33 +0000 Wouldnt have a clue Watto. I saw there add in a mortgage originators magazine and filed it for future reference as 80% could be handy one day.

]]> 84f0f34ec89581aca090a4bc2effec53 darrenb replied to the topic Cashing out in the forum No Subject https://www.propertyinvesting.com/topic/4365150-cashing-out/#post-4412908 Wed, 05 Feb 2003 13:03:19 +0000 This is not correct. I have had several houses cashed out and it is purely a straight real estate transaction with a settlement date. They arrange a mortgage and pay mine out. I sign a transfer of land, cheques are exchanged. No mystery at all.

]]> edf156483d17e4a664c56f73bc51378b darrenb replied to the topic commercial loans wanted in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4365138-commercial-loans-wanted/#post-4412843 Tue, 04 Feb 2003 13:08:03 +0000 Try AAA Mortgages in sydney 02 92991144. 80% on commercial, minimum loan 500k, 7.75%. They will do 5.85% for 60% LVR.

]]> 2c8aa9ecfd098d46dab260145fc8214d darrenb replied to the topic First post from Aussie wanting to invest from U.S. in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4365062-first-post-from-aussie-wanting-to-invest-from-u-s/#post-4412568 Sat, 18 Jan 2003 12:08:12 +0000 Chris, if I was you, Id look seriously over there for positive cashflow.

]]> 4ae00cbe7c56e4c9eb40280070c832c3 darrenb replied to the topic protection new wrapper in the forum No Subject https://www.propertyinvesting.com/topic/4365044-protection-new-wrapper/#post-4412518 Wed, 15 Jan 2003 15:10:04 +0000 Get a couple of grand out of them before you go unconditional on the purchase. Tell them it is non refundable. If they cant understand your position, walk.

]]> aca3b1e58cbda9d7fe0a30e0905ab67e darrenb replied to the topic Home Loan Analyser Deluxe in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4365004-home-loan-analyser-deluxe/#post-4412351 Wed, 08 Jan 2003 00:52:58 +0000 Yes Felicity their is no way around that one. Do it all on excel spreadsheet. Rick Otten has a programme for sale, while not perfect, will solve your problems. Every other wrap software I’ve seen lacks the flexibility you/I need.

]]> 8250b58e58fba40e1dbcfab813ce262d darrenb replied to the topic ASSUMABLE MORTGAGES?? in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364960-assumable-mortgages-2/#post-4412212 Mon, 23 Dec 2002 06:51:53 +0000 Westpac recently released an Australian assumable mortgage. Minimum lend $500,000, 70% LVR, secured by the property and income it generates (IE commercial). It is only a matter of time before other lenders do it and with more attractive terms.

]]> efa215fced564edc9a4359692d5e0122 darrenb replied to the topic Seeking judgement from my peers in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364906-seeking-judgement-from-my-peers/#post-4412030 Thu, 28 Nov 2002 10:30:58 +0000 Looks like an impressive start to me!

]]> a23313f34ef2be720eeea77f5066ed5d darrenb replied to the topic 11 Second Solution - Step 1 - Is this Serious ? in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364859-11-second-solution-step-1-is-this-serious/#post-4411840 Wed, 06 Nov 2002 06:43:41 +0000 I think Steve would be horrified that people arent buying because they are following his 11 second rule so strictly. They are out their, believe me. I bought a commercial property 50 clicks from Melbourne CBD last month that returns 15% plus and its only 2 years old. Cost 390k and rents for 55-60k per annum.Saw one in Dandenong recently to that…[Read more]

]]> 0218f132bb80cd1ccc3f03f91d1884bf darrenb replied to the topic Having trouble with the numbers in the forum No Subject https://www.propertyinvesting.com/topic/4364857-having-trouble-with-the-numbers/#post-4411819 Sat, 02 Nov 2002 12:48:09 +0000 No Peter, you wont find people are lowballing to get 50k properties. The real estate market has moved in price, but the rent has stayed the same. Your deal looks ok to me as a straight rental. Dont get to wound up about 11 sec rules or you will suffer analysis paralysis. Just go and do it.

]]> 52cc041cc17ea75da15261f15528e8ca darrenb replied to the topic Ads for wrapping in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364828-ads-for-wrapping/#post-4411728 Mon, 28 Oct 2002 05:31:33 +0000 Jason. Im in melbourne. I am starting to find the running of ads very tedious indeed and am looking to automate it, by having a recorded message spelling out in fine detail what I require. If I get one more investor looking to rent the property out, I will scream!!! I remember the early excitement of taking lots of calls, but this becomes very…[Read more]

]]> 8a32e14d3858947a88812b0e8e1c21b0 darrenb replied to the topic managing yourself.. in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364848-managing-yourself/#post-4411796 Sun, 27 Oct 2002 11:23:00 +0000 Jason, why dont you get a third party company like Ezypay to collect the money. Heaps cheaper than an agent. $2.00 per transaction.

]]> 7caabb8508532423eb7a4ca6bd17d993 darrenb replied to the topic Ads for wrapping in the forum No Subject https://www.propertyinvesting.com/topic/4364828-ads-for-wrapping/#post-4411726 Sun, 27 Oct 2002 11:16:47 +0000 No, Bruce the opposite. I want to find the people who have bigger deposits, but to find these ones I have to take alot of calls. I dont want to put a minimum deposit of x—- required in my adds either. I’ve been screwed a couple of times, mainly with people who have little cash deposits.

Edited by – dblair@bigpond.net.au on 27/10/2002 8:18:16 PM

]]> edb1573188f91392f6754fc121a6451c darrenb replied to the topic Ads for wrapping in the forum The Treasure Chest https://www.propertyinvesting.com/topic/4364828-ads-for-wrapping/#post-4411722 Fri, 25 Oct 2002 13:13:51 +0000 I think what Jason is trying to say that it is all well getting 60 phone calls, but most of them (59) will be either tyrekickers or deadbeats! I think Joe Arlt in the USA (240 wraps plus) has stated that for every 100 calls, he closes 1 house deal. If you are giving the house away with a FHBG only, your strike rate will be higher than this. But if…[Read more]

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