Cheeves, Alex, NigelGreat responses, hopefully we get some feedback from investors also.Regards,Engelo

Marie123 wrote:
Well done, sounds like a good deal.I would like to know how you are going to do this renovation for $15k and what the secret is? Is it only a small job – it seems big to me.Cheers.

Hi Marie,No secret, I will source cheap materials in Sydney and take them with me to Coonamble. I will have 3 carpenters on the job for 10 – 14 days.…[Read more]

wow, you really are having some bad luck in the US. I hope it all works out. Maybe would be better posting this in the overseas deals section.

Alex SC wrote:
The islands for any one on east coast of USA to travel is usually  Jamaica, Bahamas. These trips are supposed to be for vacation and time to relax . Every time I go to the islands  ,I say  to my self no real estate  at all . Some how I always find my self searching for a house or  a getaway to have their.. good post thou…[Read more]

mattsta wrote:
That's quite amazing mate. A great bargain! and inspirational too

Thanks mate,Cheap entry not much risk

VictoriaC wrote:
Hi Engelo, Congrats on your purchase. Let us know how you go once the reno is finished – really interested to see how long it takes you to rent out and for how much.Victoria

Thanks,No worries, will do.

Jpcashflow wrote:
Hi,Mate not trying to put your deal down hope it all works well.But how can an agent give you a rental figure if there is nothing up for rent?????and why are more people looking to sell then rent?or even hold properties

nah mate not at all,Wouldnt they base on what else is currently renting? I know what some other properties…[Read more]

Hey Kyler,What long term return are you getting on your investments? Give me an absolute minimum return based on worst case scenario. Not a "your house burns down worst case scenario''. Lets say 8 months rent with 10% repairs and pump up the managment fee's, insurance and council and school taxes.Thanks

ps. loving the ghetto hahahaha

I have C class. Paid 40k and that was with 10k margin. Rents for 900 and going up to 950. So if your on the ground picking them up for 10k – 15k, rehabb for 10k – 15k you would get 900 on lets say all up 30k spent. Maybe around 20% net after all cost as taxes are high. Must be there to make the numbers work or have great people working for you. I…[Read more]

prob not on a 25k purchase would need to pay bit more for higher rent..

Low end rentals in Rochester can get between $750 – $1200 per month depending on location and size. Higher end range would be multi family.

If you can work the numbers and the numbers work and there is a system in place good money can be made.Kyler after speaking with you the system you have in place sounds pretty good. People like guarantees.

Paullie wrote:
whats wrong with it.

Needs reno

There are no rentals available. Thats the word from the locals. Lots of stock on the market but I dont plan on selling. If I did could prob walk it out the door to an investor for $60,000 and still make a buck.Engelo

Jamie M wrote:
Nice work Engelo – that's a sweet deal. I'm sure Nathan is very proud CheersJamie

You know Nathan, He loves these deals haha He just finished one in Griffith. Looks great.

Hi Taylor,Thanks, would be good to catch up soon.Engelo

Hi BMW,Thanks for your reply, I spoke to a few agents, locals in the area and just got of the phone to council. Rentals are in high demand and there is a lot of people looking at the moment so yeah thats what I was told.Regards,Engelo

CheevesFinancial wrote:
Yes, agree management is the most important piece.  That is why you need a team you can trust.  Also the rules and regs that you are referring to are Fiduciary Responsiblities.  I am a wholesaler, but most importantly I am a licensed real estate broker.  All of our contracts are sold with OUR firm as the seller.  In the…[Read more]

Or just buy a cheaper island and build a smaller house hahahahaKyler, I will joint venture you in the deal with Michael? hahahahahaha