Forum Replies Created
Hope isn’t driving greed – it is driving people to get off their backsides and try – and that’s a good thing.[
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They are not fooled, they are encouraged to have a go. Most won’t even bother, but for those who do, it’s worth the effort.
If they follow the great advice that’s available not only from Steve, but from heaps of places, then they have the potential to do the same as Steve.
This comes down to freedom of choice – at it’s best.[:X][:X]
[^]What the hell is wrong with selling hope?
The masses generally follow the leader, and don’t believe there is any….but there jolly well is. If Steve and others can change this, then good on them.
My dad had a great saying, and I think it is so applicable to your postings about this site.
“Nil desperandum el bastardo”
loosely translated means – don’t let the bastards get you down.
And we won’t.
Keep on[][][]ingPaul, I think here lies the crux of your beef with this site. Most people on this site use and understand, that if you look for bargains with excellent returns, then the bubble pop that you refer to will not affect them too badly. People who are relying on cap gains will be burnt, because the income will be harder to sustain – ie higher renters will be vacant for longer, while people look for value.
If you watched 4 Corners last night, you would have noticed the emphasis there on units in CBD’s bought off the plan for above market prices – now these are the people who should know better, but are easily led by smart marketing.
They didn’t want to do the hard yards of due diligence, as we do, and they have learned a hard lesson.
[]Hi, Chan.
This is exactly what I am doing at the moment. I am returning at beginning of May to do more research, having seen heaps on the net. I am a buyer’s agent, and could search the area to Gladstone for you (from NSW border up), if you would like to contact me thru [[email protected]].
Otherwise, there are lots of people from Qld on this site – some who may have more deals than they can handle, who might pass something over to you.
What about you A.D.?
Either way, good hunting[]Hi Paul
[!][] – do you wear ribbons in your hair?[8][8][8] I CAN’T KNIT, AND I HAVE A DISHWASHER [][]- much rather do the real estate investment full time. Won’t be appearing on any shows as I have made good decisions.
While I did say it won’t pop – it may level – which is quite a different thing.
Have u noticed how the experts can’t work out why the boom is lasting so long? It’s because of people like those on this forum who have in the main invested for income not cap gain. A mix of both is best, but for newbies with little capital, income is best.
Who cares if a $50k property is in a 5k town – if due diligence is done, and the renters are there, and it brings $50 pw that’s great.
What about a 5 unit lot for $169k bringing $425 pw in one of those towns, with 1% vacancy rate? or 3 x 2b/r brick units for $175, bringing $340pw? I do a lot of research and it pays off.
% ROI on these investments is massive, and so is their cap gain. Sure, if you can afford to buy into a great area at high entry, then do. But for those who can’t they start with income return.7.7% fixed – haha – read Your Mortgage mag and it will tell you that over time, those on fixed will outpay those on variable – remember last year when the experts predicted a bust? where is it?
remember last year when the experts predicted interest rates in May to increase???The war’s effect on the economy? Sure it’s a worrying time, so where are the funds managers putting their dough
it’s not in shares, is it? Super funds are losing money, because shares are not good for the majority now – where are the super funds putting their dough? PROPERTYAnd if you are smart, you will self manage your own super, and not ever lose – you may mark time for a while, but you won’t have losses for 2-3 years as has been happening with funds managers.
Salient points? You’ve got some too.[
][]Unfortunately, you learned a hard lesson – don’t try to be too kind – do things by the book, so that you have legal backup.[
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Often you will find that people who sound so nice are quite the opposite – most aren’t bad, but they bear the brunt on behalf of those who are.
The law acknowledges that such people exist and will rip you off, and this is why bonds are necessary.
Kevman is so right – an agent can do the dirty work for you, and is worth the money, to give you time to be out there doing other deals.
Better luck next time[]I am of the opinion that this bubble will never pop…..why? because there are too many people like us who have done the research, and are now aware of how to access our existing equity to leverage to more and more properties.
AND we are growing in number!!Just be careful to not overcommit, so that if others have, then you can come to their rescue.
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Don’t wait to buy – there are always good deals around – a good deal is a good deal, right?
JUST DO IT[^][^]Susie, u will find your accountant will love you if you keep them separate![
]H, Susie.
You might find a lease contract at the newsagents, and tenants pay for their own water and electricity. You should pay for the provisions of services, so the gas bottle is yours, the gas is theirs.
cheers[]Just a thought – why do you think it was necessary for them to give a cash inducement?
Because the mortgage broking industry is a cut throat place to be – sure the rewards can be great, but competition is tough. There are many brokers who don’t genuinely go thru all their available lenders – so they are not giving you the best deal – just the best commission for them.
Chasing lenders for trailing commissions can be very hard, so a lot of brokers don’t bother with trails. And, believe it or not, lots of people apply and are approved and then change their mind – so a lot of work is done for no return.
Often, a broker gets the loans that are hardest to finance, and spends many more hours trying to place a loan than you would imagine. Even tho’ a broker gets paid good commission, the loan is no dearer to you because of this.[][]
And in the end, if they get you a good deal, then they deserve what they earn, and so do you.[]Simply put, commercial deals are just bigger residential deals………..bigger returns…..bigger risks……bigger cap gains.
You also need bigger deposits, as the lenders will generally only look at 60-70% lends.
You need to have bigger backup for longer periods of vacancy. However, if you have all these things, and have done due diligence for that site and it’s demographics, then that will get you out of small deals and into the big league.
Your choice – more risk more reward, or???
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