Forum Replies Created
I read a lot. Sometimes a book a week. I usually have 2 on the go and a waiting list of books to read next. Just bought a couple on the weekend which look really good. They are ‘Success through a Postive Mental Attitude’ by W. Clement Stone and ‘The Power of your Subconcious Mind’ by Joseph Murphy. Good wealth building types of books.
I also read the BRW, API (good to put a face to a name Dr.X, great going! [biggrin]) and the AFR Smart Investor. Plus anything else that crosses my path. One thing though is that I dont read newspapers, just the classifieds when I get my hands on one.
They say the person you’ll end up in 5 years time is related to what you read and who you associate with. Here comes a prosperous future!
Fast Lane- The poster formerly known as g7
I use it and find it really good. Although I haven’t tried any others because REAP does the job.
Fast Lane- The poster formerly known as g7
This is one of the posts Derek is talking about. This is a fairly recent one too. Click here for it.
Happy reading…FL
Fast Lane- The poster formerly known as g7
My parents used Kelly & Fitzgibbon from Mornington. They were really happy with the service provided too.
Their number is (03) 5977 1056.
Fast Lane- The poster formerly known as g7
If you can genuinely do the deal at those numbers I would have a chat to a very competent broker about your options, and fast!
Deals like these can be absolute rockets for your investing journey so I’d exhaust all and every option to get it myself.
Good Luck…FL
Fast Lane- The poster formerly known as g7
The RBA has an inflation target of 2-3% for the current fiscal year. The rappidly rising price of petrol is jeopardising that target, and the RBA has said if inflation exceeds 3% they will seriously consider further rate increases. However, there is a general consensus that, I think this is correct, that every 10 cent rise in the price of petrol is the equivalent of a 0.25% interest rate increase. Becaus of this factor, there are few industry experts saying that the increase in petrol will affect rates even though inflation has in fact recently lifted above 3%. If it were other items affecting inflation, then yes the case for an increase would be stronger.
It’s also a factor that lifting rates because of rising petrol, which is hurting everyone, especially the mortgae belt areas, is such a sensiive and sore area that only a very brave person would want to enter that territory.Hope this helps…FL
Fast Lane- The poster formerly known as g7
Thanks Amanda, your concern for me and your awareness of my inability to read anything less than font size 72 makes me feel all warm and fuzzy inside[inlove]
PS. I can read any size, it’s just that I’d rather the writing be bigger! [tongue]
Fast Lane- The poster formerly known as g7
Also there are quite a few listed on the yellow pages website.
Happy hunting…g7
It all depends on what market you’re in and where you are. For instance Perth is powering along and the eastern cities are in the pits. Also top end housing is very hot, while average housing isn’t. It would be nice to paint a broad picture with an economic clock but it just doesn’t work like that.
However, there are great opportunities available to those who know what time it is where and have a good understanding of their local market/ area of investment.
The economic clock subject pops up every now and again. Try also this topic.
Hope this helps…g7
You could say if he withdraws the complaint, you’ll let him use the driveway. Then when everything is approved and the go ahead is given, simply tell him to park on the damn street.
If he puts in an application for development and your’s is already approved you should do everything possible under the sun to thwart his plans.
You might also have some legal options available, so it might pay to have a chat with your solicitor. I hope it works out Dr. X and keep us informed as to how you guys fare.
Good Luck…g7
Dazzling is the man when it comes to these types of investments. Also every now and again I find fairly good deals on this website;
http://www.realcommercial.com.au
It’s not that flash but some good deals do pop up on it…eventually.
Good Luck…g7
Hey Pups, great post.
Clearance rates are listed in the API magazine each issue for the preceeding 6 months. In the Jan issue they’re on page 75. They do just metro areas as clearance rates in regional areas aren’t too much of an indicator because they’re not as prevalent in the city.
Any significant movement in building approvals and interest rates always finds it’s way into the news. Check newspapers and the internet and just keep your eyes peeled.
A lot of other info you want is found in the API magazine, but for really specific info, say for a town, reports covering all this can be bought from people like RP data tthat can give a really valuable insight into an area. Also to gauge an area and what it’s like you can always put it up on the forum, at least one person would probably know about the area or would have invested there. If the area is a potential goldmine, keep the secret to yourself and do your own research!!!
As for locals in town, the ideal local is more than one or two local opinions. Try cafes, newsagents, gift store owners etc. and also once again plumb the depths of knowledge on the forum. However be very wary of loaded advice coming from RE agents.
As for indicators I use, I look at what’s for sale, how many for sale, how many under contract and how many have sold recently. This is just a start, everyone has their own research fetishes. For instance one town I was studying had 140 places for sale and no more than 5 under contract. I also watch towns like a hawk and fairly soon I sort of become a somewhat market expert on the area even if it’s on the other side of the country.
Also generally and over all, trust yourselves. You would know deep down if a place is cooked or a shoddy deal etc. Listen to that inner voice that speaks in feelings and get stuck in. The deal of the decade rolls around once a week.
Happy hunting…g7
Originally posted by AmandaBS:Yes Santa came early for us on Xmas eve. Signed a contract for a modest 3 bed house in Ipswich, Qld for $135000 !!!!. Needs some TLC but should rent as is for $180pw. Not bad considering 600 sqm vacant land is selling for $130000 around the corner.
The zoning suits a duplex so the plan is to rent it out until we can organise building, and in the meantime the rent covers the interest . Not bad hey.AJBS
Congratulations on your great deal. How did you get it at such a great price, did you low-ball ’em or have an ill-informed vendor/agent? I’m very interested to know if you can negotiate my next deal?!?
Great stuff…g7
Congratulations Shower Singer this thread has finally gotten me out of my 2 month posting hiatus.
Springfield Lakes pops up every now and again on the forum. Type in Springfield Lakes into the search thinggy and read some of the other posts.
I really believe the hype surrounding the whole thing is really hiding the cracks starting to appear. Get a hold of the local rag each week as the problems for the area seem to be escalating. As I’ve said in other posts you could invest and take some good tax breaks, depreciation etc. but I believe you could do much better with your money.
Redbank Plains up the road has been earmarked for denser housing etc. in the blueprint or whatever it is and could see some good gains in the medium and long terms. It also seems well priced compared with lots of other areas. Just a thought though.
Hope this helps and good luck with your investing…g7
Originally posted by Dazzling:
1. Buy a nice vacant residential block in a swisho suburb hopefully with some sort of water views for the full $ 1 MM and pay cash and get the title deed. No whingeing residential tenants but still get all of the growth…fantastic, and because it’s fully paid off, not missing out on any of the tax benefits.2. Walk straight into the Bank and slap the residential title deed down as a 20% deposit on a $ 4 MM industrial property renting for 10% nett yield.
End result would look something like this ;
1. Land growing = $ 5 MM.
2. Cost of borrowing = $ 4 MM * 7.25% = $ 290 K p.a.
3. Tenant pay all outgoings on 4MM prop.
4. Outgoings on ressy block = maybe $ 8 to 10 K p.a.
5. Nett rent from IIP = $ 400 K p.a.Free cashflow in your pocket = $ 400 – 290 – 10 = $ 100 K p.a.
Growth of underlying land ~ 9% average = $ 450 K in first year. Cranks up from there.
I’d give my $1M to Dazzling to invest…[biggrin]
Hi Dianne,
Be very careful with industry specific investments. Usually management fees, body corporate etc. will eat any decent cashflows generated. Besides 7.5% doesn’t sound that good either for this type of investment and sometimes financing them can be prohibitive.
Having said that though, good deals on these properties do exist and there have been people who have done all right out of them. It’s just a matter of weeding the good ones out off all the other riff-raff on the market.
Also, if you do decide to go ahead there always seems to be plenty of these on the market. So there is no reason why you cant be hard nosed in your bargaining for them. The one for $98k might be able to be bought for $80k or less. If not there are probably many more out there at around $100k that could be. You’ve nothing to lose and everything to gain, plus the experience will be invaluable.
Good Luck…G7
Hey Redwing,
Thanks for the e-book. I have read it before but lost it ages ago and it’s one of those things that if it’s not in front of you, you’ll forget about it. I’ve downloaded it and I’ll reader later tonight. That’s a great site you’ve linked to aswell, especially if you’re into that sort of stuff. It works too! [specool]
My investment strategy is buy, reno, extract equity, move on to the next one at this stage of the market. I will encompass buy and hold but not for a little while. Just watching and waiting…G7
Marisa,
If you think she’s unstable and a bit ‘close to the edge’ you could always put a surveillance camera half way up the tree pointing straight at her house.
Or if that fails you could always do what Gross said and get Dazzling over there to have a chat. I’d suspect she wouldn’t bother you, your PM or your new tenant for much longer…[grrr]
And that was only the video from the semi-final…
Good to see someone put up a video link for a change. I wanna see the one that gone bumped!!!Keep ’em coming
Hey Pen,
There was a post about these types of properties a little while ago. The thread does trail off a bit because of some idiot posting about one of his houses out in the snow fields…
Anyway, here’s the link
Hope this helps…G7
