[FFCommMember@ffcommJoin Date: 2004Post Count: 627]

December 17, 2004 - 2:38 pm

Welcome.

You actually have a great start. You can access some equity in your existing property (approx. $155K). The reason why I mention this first is because people on a low income usually say they can’t afford it (I should know – I’ve been there!). Talk to a Mortgage broker (preferably one on this forum – mainly because they arrange loans for investors not home buyers).

However I would suggest you start educating yourself before you invest, because only then you will understand how to invest, etc. I would pickup Steve McKnights first book (0 to 130 properties in 3.5yrs), as it provides a solid foundation. Also keep checking out this forum and be active, there are many people who have expertise in many different areas, so don’t let this free resource go to waste.

Remember education is the key! Hope this helps a tad.

Rgds.
Lucifer_au

[FFCommMember@ffcommJoin Date: 2004Post Count: 627]

December 17, 2004 - 2:30 pm

http://seven.com.au/todaytonight/story/?id=17719

Rgds.
Lucifer_au

[FFCommMember@ffcommJoin Date: 2004Post Count: 627]

December 17, 2004 - 2:21 pm

For question 1: If I was putting no cash into the deal (rather equity) I still would inc. because if you do use a % of your equity you can’t use that on other deals, therefor you have to work out how hard your cash/equity is working for you (and you want it to work hard) and to make sure the deal is worth it.

Also you will have to inc. borrowing costs when using equity (interest repayments).

Rgds.
Lucifer_au

[FFCommMember@ffcommJoin Date: 2004Post Count: 627]

December 15, 2004 - 9:17 am

I would first talk to the Uni (and RE Agents) about the accomidation situation. Also find out the average rents and think about how you can handle vacancies (esp. over the Christmas break).

Also collecting rents can be difficult, very difficult, as well as maintanance. A lady called Marleen Geyen has made it a particular successful niche. So check out: http://www.universitywealth.com/ for help.

You can email Marleen (I think all her properties are student rentals), and I’m sure she would be able to help you out.

Rgds.
Lucifer_au

[FFCommMember@ffcommJoin Date: 2004Post Count: 627]

December 15, 2004 - 9:15 am

Yeah I know I’m a sucker….

Summary:
Total annual rent = $14700
Total annual mortgage = $3720
Total annual costs = $1450
Total annual cashflow = $9530
Total funded costs = $6125.00
Annual Cash On Cash Return = 155 Percent
Cashflow Positive Weekly = $180

Sucker for a damn good deal…

Of course the guy who sold it to me made $30K (and god did he let everyone know), but I still don’t mind investments that net me 155%.

Rgds.
Lucifer_au

[FFCommMember@ffcommJoin Date: 2004Post Count: 627]

December 13, 2004 - 5:17 pm

MMmmm….

A bust in 2008… I don’t think so, mainly because of the baby boomers. Right then they will be earning quite a high income so why would they sell their properties? Yes negative gearing hurts, but does it matter if you can afford it?

There probably will be some sell off from ‘don’t wanters’ – owners who couldn’t be landlords and people with too high a debt level, but in my opinon that will be about it.

So I disagree with the 2008 property slump, rather I believe it will flatline for quite a while, perhaps have another run (perhaps), and then plumet (when the baby boomers retire).

Of course it’s all cyrstal ball gazing… Something I not a professional in .

Rgds.
Lucifer_au

[FFCommMember@ffcommJoin Date: 2004Post Count: 627]

December 12, 2004 - 5:30 pm

How are the holiday caves with the temps? is it bearable in winter? I’m guessing you would be losing some serious makeral if it wasn’t… Hibernation might reduce CF too…
Finding a CaughtFish+ deal is always pretty good though (even if it is a bear market).

I read recently there might be a freeze on all developments too(?), so that would reduce supply and hopefully boost your CaughtFish further…

Rgds.
Lucifer_au

[FFCommMember@ffcommJoin Date: 2004Post Count: 627]

December 12, 2004 - 5:10 pm

I agree with Benny. Education is the most important thing when it comes to investing, and when you are young your education is even more important as hopefully it will help you avoid expensive mistakes as well as allow you to start laying a good foundation, so that by the time your finished you will be very rich.

Check out 3 books from Robert Kiyosaki – Rich Dad, Poor Dad; Cashflow Quadrant; & Rich Dads Prophecy.

Also check out materials by John Burley (‘Money Secrets of the Rich’ is an excellent book, and he other materials are excellent as well).

Those people have helped me enourmesly.

Rgds.
Lucifer_au

[FFCommMember@ffcommJoin Date: 2004Post Count: 627]

December 12, 2004 - 4:24 pm

With multilisting it can be a race to the bottom. Basically because of the competition Agents more likly want a quick sale (to get their commission) and so therefor are more likely to reveal sensitive info (e.g. they rejected an offer at $300K, but they did tell me the least they would sell at is $308-$312K). Also some agents refuse to deal with multilisting.

Rgds.
Lucifer_au

[FFCommMember@ffcommJoin Date: 2004Post Count: 627]

December 12, 2004 - 4:18 pm

Selling an option on a property would be hard to define as bird dogging.

Rgds.
Lucifer_au

[FFCommMember@ffcommJoin Date: 2004Post Count: 627]

December 10, 2004 - 5:51 pm

“Forecasters expect retail spending this festive season to hit a record $33 billion – about $1650 for every person”

And people wonder why the gap between rich and poor widen… I think it has something to do with those ‘small, easy monthly payments’ and the lump of plastic….

But hay I just love debt and credit so I won’t complain (and no I won’t spend even 1/20 on Christmas (hay small family ).

Rgds.
Lucifer_au

[FFCommMember@ffcommJoin Date: 2004Post Count: 627]

December 10, 2004 - 5:38 pm

Mmm… Interesting concept…

It’s hard to put a figure on it…

At the start perhaps $200-$300, but if it was quite good I would go up to $500-$700, of course at that price I would expect good search options, +email alerts etc.

Also I’m assuming that it’s for a large range of properties (rather than just all OffThePlan properties, as an example).

I would be interested in th opinon of others on this (so don’t take my word or figures a gospel).

Rgds.
Lucifer_au

[FFCommMember@ffcommJoin Date: 2004Post Count: 627]

December 10, 2004 - 5:33 pm

Well heres my 4 books:
~Rich Dad, Poor Dad – R.Kiyosaki
~Cashflow Quadrtant – R.Kiyosaki
~Money Secrets of the Rich – J.Burley
~From 0 to 130 Props in 1 Yr – S.McKnight

That should give you an excellent grounding at the very least.

Rgds.
Lucifer_au

[FFCommMember@ffcommJoin Date: 2004Post Count: 627]

December 10, 2004 - 5:30 pm

1. Start to really pump one of my business (and start to be really proud of it).
2. Start up a Prop Bus (with partner) with 6/7 witin 6mths.
3. Add more lots more properties to portfolio (CF+).
4. Might try my hand at developing… (depends on upfront $$$).

Rgds.
Lucifer_au

[FFCommMember@ffcommJoin Date: 2004Post Count: 627]

December 8, 2004 - 9:20 am

I wouldn’t have anything to do with a company that would try to sell one of my properties for lower than Bank Val. The lady probably reduced her commission becuase she thought it was going to be an easy sale. Stay clear.

Rgds.
Lucifer_au

[FFCommMember@ffcommJoin Date: 2004Post Count: 627]

December 6, 2004 - 3:40 pm

Hell I recieved more money in the last 2 months than I would recieve at any job (based on my non-job experience ;->). So I would rather get rich very quickly than just quickly… Of course that menas I have to be more educated and sophisticated in my investing – and this takes constant learning as well as action and correction.

So I believe it is very possible to retire within 5yrs using strategies that are discused on this forum, because I know people who have retired in a shorter time period and they are really reaching their stride now, of course they could lose it all, but I think they could be back earning the same amount in less time.

Rgds.
Lucifer_au

[FFCommMember@ffcommJoin Date: 2004Post Count: 627]

December 6, 2004 - 2:47 pm

The question becomes can you carry the property for long enough untill you get a new tennant? If you can’t I would be extremly wary of it.

Rgds.
Lucifer_au

[FFCommMember@ffcommJoin Date: 2004Post Count: 627]

December 5, 2004 - 1:57 am

While I haven’t invested (or worked) with Rick 0tton, but he has been in business for quite a few years, and since I provide the same return to my investors (using a similar technique), it shouldn’t be too hard for him to give you that return.

Rgds.
Lucifer_au

[FFCommMember@ffcommJoin Date: 2004Post Count: 627]

December 5, 2004 - 1:55 am

Howm about doing a lease/option (or wraps) on the non performing properties? You can command premium payments without much downside.

Perhaps it would of be better to go after CF+ properties. You don’t have to work as hard since they are putting money into your pocket.

Rgds.
Lucifer_au

[FFCommMember@ffcommJoin Date: 2004Post Count: 627]

December 3, 2004 - 11:40 am

http://www.jaffasoft.com

And free!

Rgds.
Lucifer_au