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We guttered our first investment property and totaly renovated it before settlement. Then refinanced it and made a $70,000 profit. We haven’t been unable to get early access since the market heated up but now that it is turning to a buyers market you could make it part of your negotiations. Most people will let you have access to measure up or show potential renters through regardless of the market.
Di
Dianae01
Email MeBought last week
$250,000
Within 12ks of the city
rent $290
cashflow positive but had to put alot of cash in. I thought it would be better than leaving it in the bankDi
Dianae01
Email MeJars
I would probably start paying off principle and interest on these to get the mortgages down and then sell one of them using the capital growth to pay off the other two.
As long as you have money sitting around you can use it to pay off any shortfall month by month but I would be a bit cauious once this runs out and you have to start digging into your own cashflow.
Dec
Dianae01
Email MeThanks everyone great info for me to use
Dianae01
Email Me“Yes I want to be spoon fed” If that is what it takes to get started. For a new person who knows nothing about the market I don’t think that is an unreasonable request.
We are not talking about the lazy here but people who need to know the nitty gritty so they can get started. When you start a new job you don’t get thrown in the deep end why can’t we have our hands help just for the first two properties say. Just so we know what we are looking for. It may be great to do a heap of couses and read fanstastic books but when you actually have to take that first step it could feel like someone is running over you with a car.
Can we all lighten up a bit, start offering advise on what it is people are actually asking.
Dianae01
Email MeThanks Michael
That is great advise I think you are write I think I need a mentor. Are you in the position to suggest someone?Di
Dianae01
Email MeI did the course two years ago and thought it was fantastic. However the market has changed and it is not t hat easy to implement now. Steve covers alot of that Henry talks about except he does have some great techniques that I have used and then have worked. But t hat was two years ago the market is different now. I think you should probably spend the $900 on Steve’s day first and see how you go. Henry’s is thousands of $$$$. Its not necessary.
Dianae01
Email Me
