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  • Profile photo of islandgirlislandgirl
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    @islandgirl
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    I put Ikea wardrobes in my IP.  They were a great alternative as they come flat packed and are really easy to put together.  Admittedly it was a pain trying to organise transport and loading the stuff yourself.  You definately need to bring a friend! 
    Don't forget the handles like I did and had to make a second trip to get them.  And be careful about the accessories you put in.  They can very soon add up and before you know it you've spent more than intended.

    Profile photo of islandgirlislandgirl
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    @islandgirl
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    Put the clause in the contract and be careful of the wording of the clause.  "contract subject to the completion of a pest and building inspection to the buyers satisfaction" . That way they cannot argue over points of contention.  Also the same with the finance.  I can't remember the exact wording of the clause but is is more that "subject to finance approval"  – more like "suject to finance approval to buyers finance approver"  – that's not quite is but you get the point. 

    Profile photo of islandgirlislandgirl
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    I'm pretty sure that you need to do your due dilligence before the auction.  I suppose you could say you are buying "as is where is".

    Profile photo of islandgirlislandgirl
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    I think definately Roman blinds are the way to go. Can't be as easily destroyed by animals as curtains and they are a cheaper modern looking alternative

    Profile photo of islandgirlislandgirl
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    hi Skuz
    Run the numbers on a spreadsheet so you can really compare what you are looking at.  If you have the cashflow to do it then why not.  Remember to work in the worst case senarios such as interest rates increasing etc.  If you can survive the worst case senario then it doesn't look so scary.

    Profile photo of islandgirlislandgirl
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    Will be interesting to see if the current economic climate will push plans for something like this back or not.  Would be interesting to do some more research on who is involved and the potential for it not to go ahead

    Profile photo of islandgirlislandgirl
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    The time to buy is always when you find a deal that you can make money from.  As jparry said – do your due dilligence.  If the numbers stack up then its time to buy.  Its what you will buy that is probably different at the moment.  Rather that aiming for capital growth perhaps look at renos or conversions where you can make good money up front

    Profile photo of islandgirlislandgirl
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    Hi Mister
    What your talking about is Affialiate Marketing.  If you look it up on the net you should get some pretty good information.  I think from what I have read its probably easier to make a buck from these sites in the US as you have much greater potential of people viewing your site.  Its a valid from of extra income though and whilst I don't think it will make you a millionaire I think if you work at it you could earn a nice helpful addition to your cashflow. 

    Profile photo of islandgirlislandgirl
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    Remember next time you sign a rental agreement with your agent that you can negotiate the agents commission.  It pays to shop around and see if you can get cheaper and if your happy with your agents service then ask him to drop his commission.

    Profile photo of islandgirlislandgirl
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    Hi Stargazer
    The usual suspects are selling stuff on ebay, running a home bookkeeping service, dog walking, child minding, cleaning, ironing.  Depends on your base core skills.  It might be a good time to upgrade your skills as WJ suggested.

    Profile photo of islandgirlislandgirl
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    I really don't think anyone knows what will happen with share prices or property prices.  Every expert has a different opinion.  Really if you want a new PPOR then go ahead and get one.  Your buying for the long term anyway.  Sitting on the fence with your money in cash is loosing you money anyway.

    Profile photo of islandgirlislandgirl
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    I think what you really need to work out is why are you investing.  What are your goals and what do you want to achieve.  No one will be able to give you any meaningful advise unless you have some expectations/goals you want met.  e.g. do you need increased income, do you currently have suffient income for your needs and are investing for long term growth. Where do you want to be in 5 years, 10 years etc. 

    Go to the local library and check out books such as Steve Mcknights, Michael Yardney, Jan Somers, definately Robert Kiyosaki.  Visit investment sites such as this one, somersoft.com and invested.com.au  All have very helpful forums.

    Profile photo of islandgirlislandgirl
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    I think the important thing with any of these investment books is to understand the underlying strategy and expected outcomes of that strategy.  To fully understand the strategy you must also understand the pitfalls as well.  I believe that unless you understand cashflows and research property growth and the tax implications you can get into serious trouble.

    You need to also have some idea of your goals and outcomes so that you can pick one or a combination of strategies that work best for you.

    Profile photo of islandgirlislandgirl
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    I found the course worthwhile doing.  Just remember, like all these guys, he is trying to sell you a product.  However, understaning his investment philosophy and seeing if that will apply to your circumstances is the key.  Compare his approach to that of say, Michael Yardney  and Steve McKnight.  All very different investment techniques.  The key is to understaning the approach and finding a style that suits your circumstances.  Try looking at the invested.com.au website forum.  Most of the people there tinker with Navra as a cashflow technique.  That will give you some insight.

    Profile photo of islandgirlislandgirl
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    I personally perfer channelling my spare cash into diversified funds, particularly those geared towards income producing.  I can leveridge them for extra gain and then use the income to pay off property investments.

    Profile photo of islandgirlislandgirl
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    Isn’t it great to be loved!

    Good onya buddy!

    Profile photo of islandgirlislandgirl
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    Amanda, your a legend as usual!

    Profile photo of islandgirlislandgirl
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    The problem though with managed funds is that you cannot gear as high as property.

    Profile photo of islandgirlislandgirl
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    @islandgirl
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    I agree with Wayne. Its amazing how many people start out investing with no clear idea of what they want to achieve and how to do it. I would say

    1. Work out your goals. What you want to achieve. e.g. for me it is getting a replacement income so I can spend more time at home and then also generating a retirement income
    2. Read, read, read. Can books out from the library – a great resource. Steve McKnights, Margaret Lomax, Micharel Yardney just to name a few. All have different investment styles and philosophies. You need to work out what investment style will work for you.
    3. Work out your strenghts and weaknesses….e.g. time poor, cash rich, good at manual works such as carpentry (so renovating would suit). It is important to work out what you will be good at to help you focus your investment style and how to achieve your goals.
    4. Talk to people on forums such as this one, somersoft, invested. You will find a wealth of information.
    5. Do proper due dilligence. Remember property investing, or any other sort of investing is not about buying something for the sake of it. It is about crunching the numbers first and understanding what the outcomes will be before you get into the deal.
    6. JUST DO IT. Don’t get analysis paralysis. At some point you need to stop analysing and just get out there. It is the best way to learn.

    Cheers

    Profile photo of islandgirlislandgirl
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    I enjoyed Steve’s course. Definately well worth the money.

    For me his concept works. Use Diversified Funds that are basically income producing to pay for your property purchases. His Navra funds are OK but I’ve seen better funds that produce better income and higher capital return to boot. The website at invested.com.au is pretty good too for alternative ideas and views.

    I like Steve McKnight’s approach, I also like some of Steve Navra’s ideas. Michael Yardney had some good points however I am not keen on his style of investing. The more you understand what others are trying to achieve and how the better your investing will be.

    I believe you cannot gather too much information or understand the different investing styles. That way you can find an approach that works for you.

    Like all these seminars they are trying to sell you there product, however, if you keep that in mind you will still get some vary useful information. Definately worth the pittance he charges

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