[dnshullMember@dnshullJoin Date: 2010Post Count: 27]

July 18, 2011 - 4:00 am

Hi Intrigue,

You have been given some great advice and also followed some tried and tested tactics to uncover these opportunities, Well Done! These properties have all sold around the price YOU thought they would… so there is only one thing you need to work on and that simply is your communication with the agent and your timing! 

No smoke and mirrors here, my advice would be to play dumb like a newbie!  Firstly don't be so quick to make low ball offers, although we all know here they were around the final mark. Also when you do make the offer, make the Agent fall in 'Love' with your approach… ie. novice to the game, tight budget, trying to get off the ground etc, but especially engage the agent to make it a reality for you. Generally MOST agents in this tuff market, want to focus on one qualified lead… because their affraid of loosing the sale all together! So play nice, don't reveal your hand, and let the agent believe when you make your offer, its down to general affordability!!

You never know, your approach previously might have sounded great to you… and to us!!  but to the agent,  no-one likes been told that the price THEY negotiated with the vendor was unrealistic and unachieveable to begin with and watch.. coz it's gonna drop and when it does, ring me! (im sure you didn't put it that way, but that's probably how they take it!)

Anyway,  best wishes and i look forward to hearing you close down these offers!!

regards, 

Dave

[dnshullMember@dnshullJoin Date: 2010Post Count: 27]

June 3, 2011 - 12:57 am

Thanks Guys,

I appreciate all your responses Charlie, Kent and Holly . I meant $20 not 20% but, i don't have the disposable cash, so I better chat to some solar people first to see if i apply for green credits., then gauge my tenants responses.

Kent, I guess the reason why I am considering this is that Coober Pedy is going to be in a world of pain if the government won't subsidise the electricity (is has been a significant issue and has been on our news of late). The rate our SA state government is burning cash, this is unlikely to happen!! I guess im am really not thinking about saving my tenants cash, more how to keep my tenants long term and keep them paying rent and a possible tax deduction!

Anyways, it's just a thought, and i truly appreciate everyones opinion.

Cheers,

Dave

[dnshullMember@dnshullJoin Date: 2010Post Count: 27]

January 21, 2011 - 3:48 am

I agree with Scott no Mates,  And i'll also add that this bloke more than likely  sees 12 months in advance as a form of Savings. ie, his rent is paid, any other monies he can do what he wants with. Thats probably why he defaulted on a mortgage by not prioritising his savings.

[dnshullMember@dnshullJoin Date: 2010Post Count: 27]

January 12, 2011 - 11:12 pm

Justin83 wrote:

dnshull wrote:

With all due respect Fredo and Darren.  As much as this information might seem important here and now, there are bodies that are not recovered yet in the two towns you are speaking of.

Your investments are no where near as important as the Lives ruined by this tradgedy.  Be thankful it wasn't your house or your loved ones washed away in this disaster. 

Respectfully,

Dave

haha, I just had to sign in to respond to this….are you kidding me Dave, how can you interpret these questions as an indication their not thankful their loves ones weren't washed away or it wasn't their house effected. I see what you're trying to do, stand up for those that were, but you're way off mate. we had to leave our place in east Brisbane this morning and you know what I even called my insurance company….oh wait, but this means I'm disrespecting those that have lost loved ones… perhaps change you're way of thinking otherwise you'll remain of grumpy sour man. I say all this 'respectfully' of course! Justin

Justin,

Grumpy sour man???  Get off mate.  The fact that you signed in to have a crack at speaks volumes.  All i was saying is let the water subside before we start getting concerned about our 3rd or 4th house that we aren't even living in or HAVEN'T EVEN PURCHASED!!!  If this was a question about say an area in the Vic Bushfires days after it happened…  where the death toll was unknown… Even the moderator would pull it down. I know what it's like to loose everything and start again.

 I don't see this as being any different.   And ringing your insurance company is not a fair comparison really?

All im saying is that it's a bit fresh… they are all valid questions im sure.  It was just poor timing.

I hope you got out ok, and i hope you can see where im coming from.

Dave

[dnshullMember@dnshullJoin Date: 2010Post Count: 27]

January 12, 2011 - 1:42 am

With all due respect Fredo and Darren.  As much as this information might seem important here and now, there are bodies that are not recovered yet in the two towns you are speaking of.

Your investments are no where near as important as the Lives ruined by this tradgedy.  Be thankful it wasn't your house or your loved ones washed away in this disaster. 

Respectfully,

Dave

[dnshullMember@dnshullJoin Date: 2010Post Count: 27]

December 23, 2010 - 5:20 am

Great to hear Spudway, best of luck.

What town are you in btw?

Merry xmas, Dave

[dnshullMember@dnshullJoin Date: 2010Post Count: 27]

December 15, 2010 - 12:30 am

Trying to make it big in Hollywood, with a fall back to the country music scene??

California is a great place, I lived in Simi Valley for a year and loved it.

Would you invest in states you are living in? as you could save a bundle on collecting rent yourself? (there is no direct debit system in the states, and you wouldn't want cheques from your tenants as they mostly bounce!!) It all depends on if you have time to manage the properties yourself.

Dave

[dnshullMember@dnshullJoin Date: 2010Post Count: 27]

December 15, 2010 - 12:05 am

Hi Brad,

Good luck with the move and best wishes with investing!

You don't need to pay stupid amounts to learn how australians buy property over in US, you will get a much better idea when you land in the states for yourself!!

Follow the threads on the overseas investing section in this forum and you can't go wrong. You have an advantage as you will be a resident, with your own social security number and access to locals on the ground and US accountants who can help you with the setup.

Bank owned realestate is where the bargains are and it's best to look at areas that are have great infrastructure and solid industry  as to avoid investing in an unsuitable area.

BTW where in the states will you be living?

Good luck , and happy investing.

regards,

Dave

[dnshullMember@dnshullJoin Date: 2010Post Count: 27]

December 1, 2010 - 12:16 am

Hi Cas,

I would strongly advise against getting them to call you  after a day or so with their best price.  Why?  for one, they won't do it (most dealers refuse to fax quotes) and you will loose your leaverage. And shopping on used cars is an unknown variable ie, klms, condition, previous owner with any three of those factors fetching a premium and being different from yard to yard.  Make a spread sheet, with color, kms, previous owner (strongly avoid ex rental or ex gov cars!!!!) condition and price, when you find one that ticks all or most of the boxs, make your move.

What would I do? find the right car that fits all the factors including budget. Then negotiate hard with the dealer and 'Do not leave the premises' until you get what you want. If they won't budge, by all means shop around.  The best deals are always done face to face, if this is new ground for you… congrats because it will make you stronger and build your negotiation skills. 

When you have found a car you like, ask the saleman for time alone to inspect it , check it out and (look for log books) think of questions to ask.  Invite him/her over to then answer you questions.  Ask for a test drive alone, because if you can limit your time with the saleman/woman you wont like them as much and wont trust them as much and make it easier to negotiate with them.  When you get out of the car, if your happy with it. Tell them you would like to discuss figures, and if the price is right you will consider doing business on your terms.

I think you know were im coming from. Happy hunting and good luck. Be confident, friendly and assertive and you can't go wrong.

Let me know how it goes.

Regards,

Dave

[dnshullMember@dnshullJoin Date: 2010Post Count: 27]

November 30, 2010 - 2:07 am

Hi Cas,

I sold cars for 7 years, and Terry is right… most car yards will waive the cc merchant fee to do business. Wouldn't recomend buying a 20 grand depreciating aset but… i used too

As for keeping your leverage, do a deal subject to 'green light independant inspection' (racv/nrma,raa) and CC settlement terms, and you won't loose out. No dealer will be tempted to agree to terms if you take the deal for 'there and then' off the table.

Just my advice,

Good luck.  BTW what Car did you have in mind? small or large? Don't forget about new as there may be a way for you to claim depriciation if you use it for investment work!!

Regards,

Dave

[dnshullMember@dnshullJoin Date: 2010Post Count: 27]

November 26, 2010 - 12:40 am

On a lighter note…

I helped a friend move out when he sold his house. We spent hours and hours presenting the house in a better manner than he recieved it 16 months earlier, leaving brand new light bulbs, toliet paper on the rolls, gardens manicured to perfection. I asked why we were bothering, and he said it was just out of personal pride and respect for the new owners. I wish there  were more people  like him, i learnt alot thats for sure. Knowing that the new owners would have been over the moon to recieve a house in better condition to when they inspected it, was a good motivator on the day, and worth the extra couple of hours spent.

[dnshullMember@dnshullJoin Date: 2010Post Count: 27]

November 25, 2010 - 11:16 pm

caring is sharing…

[dnshullMember@dnshullJoin Date: 2010Post Count: 27]

November 12, 2010 - 3:47 am

Hi Intrigue,

your not wrong but half the problem is that many of your potential Vendors are no doubt mortgaged to +90% therefore your low-ball offers are well below a break even price!!  This may be the case for your friend and @240 may be below what she owes on the place!

I would include in my criteria (along with your own points) houses  that have ederly vendors. They more than likely own it freehold and therefore may be open to low-ball offers because their not trying to fund an eloborate lifestyle or discharge a 97% low doc mortgage.

I might be wrong here, but does that make sense?

regards,

Dave

[dnshullMember@dnshullJoin Date: 2010Post Count: 27]

November 12, 2010 - 12:47 am

Ben K wrote:

I like the chapter in Richest man in babylon, "Meet lady luck"

Touches on how taking action is a big part of getting started. how procrastination is a big part of missing out on "luck" or opportunities to be lucky.

I got started by taking action!

sorry, random but relevant i think.

Ben

Like it Ben.

And in regards to luck, i remember when  Jack Newton was once asked how lucky he was to get the 40 yard put that won him his 4th American PGA tour championship… he replied to the reporter " I practise my luck 10 hours a day" !!! Very true

Similar to your ideas about procrastination, this quote sounded like it was written for me once upon a time: 

 "Knowing, without doing is like plowing without sowing"

My parents handed me "rich dad poor dad" and Cashflow quadrant when i was 20. I read steves books also but did nothing with the knowledge till almost 10 years later.  I was the property expert to my friends, but the expert who had never taken the risk himself until now.  I firmly believe that investing is State of mind that effects your actions. It took me awhile, i could have retired by now. But i am excited about what the future holds for me and my family.

Regards,

Dave

[dnshullMember@dnshullJoin Date: 2010Post Count: 27]

November 11, 2010 - 4:53 am

Thanks MarJac, the I/P is in SA.  From what I understand I will only miss out on a weeks rent (350), but I don't think my mortgage payment is due till next month anyway. So other than inconvienience, i don't think i have incurred costs for the delay (as yet anyway).  

[dnshullMember@dnshullJoin Date: 2010Post Count: 27]

November 11, 2010 - 4:41 am

Thats what I thought Illuminati, I have three tenants all paying rent this week… do i miss out on that too?

[dnshullMember@dnshullJoin Date: 2010Post Count: 27]

November 11, 2010 - 3:37 am

Hi Richard,

sorry to jump in on karens thread, but my problem is in reverse: What action can I take if my Vendor is delaying settlement because he lost the title and has to apply for a new one? settlement was supposed to be on the 8th of Nov and it's now the 11th!! My funds are all ready to go.

Thanks in advance for your suggestions.

regards,

Dave

[dnshullMember@dnshullJoin Date: 2010Post Count: 27]

November 11, 2010 - 2:42 am

Hi Nath,

From what i read from the Business park info book, Rezoning was due 2009, do you know what held that up? and when it is rezoned are you expecting this to be rezoned residentail or commercial? 

Sorry for all the questions, but one more…. How much did you pay if you don't mind me asking?

Regards,

Dave

[dnshullMember@dnshullJoin Date: 2010Post Count: 27]

November 3, 2010 - 1:07 am

Banker you make a good point, many of us here wouldn't disagree with what you have said.

Were i get frustrated is that the Banks are just grabbing at cash.  After announcing 6 billion in profits? surely someone is having a lend of us.

Dave

[dnshullMember@dnshullJoin Date: 2010Post Count: 27]

November 3, 2010 - 12:08 am

+ geared properties are out there, I just settled on a property in Coober pedy. 3 units returning 350 p/week total we bought for 170k. Thats about a 10% yield.  Not bad i thought.  And we fixed the rate for 3 years!!