Forum Replies Created
It's true S, yes some people may loose money but like anything you can loose money from shares or property as well.
But it's how you set up your structure, some times you can carry a loss forward .
We spent 500k on ours an on it's second years it's providing a good return
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Hi MKB Online,
Terry has mentioned some really good points, Here is my view based on owning a franchise in Melbourne, We own a TATTS Franchise by the way.
- We use our business as a third income, My wife and I work some where else as well, why? Some times in business it can get very quiet, At the end of the day if it is quiet you will still need to pay bills at home and also you need constant cash coming in if you want to invest.
- When we started the business, My wife and I both quit our jobs to work in the business, after 6 months my wife wanted to kill me, can you honestly spend 24/7 with your partner?
- Are you able to work 7 days a week? If you get sick are you able to afford to hire some one else to work for you?
- RISKS: We live in very interesting times and as Terry mentioned RISK is really big for small business.
- Also they try and sell you the idea that you are your own boss, but in reality your landlord, customers and banks become your boss.
For me personally having a business has been great, its been one of the best education tools of my life.
But i would never risk the both of us working in a bussiness.
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Good points to both Nigel and RPI,
Demand for property has increased over the last month, Demand is always good and i think allot of investors are leaving 2012 behind and starting with a fresh outlook for 2013.
Prices may remain the same for a year or two but hopefully with enough friction prices will increases as well.
The beautifull thing of the current market is this, with interest rates so low why would you want to leave money in bank?
Their are great buys, and even the share market has been picking up as well.
thanks to yellow brick road shares, I have almost a deposit for another IP without using allot of my savings to reach this goal lol
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Hi Goatus
Im an ex agent from melbourne, so here is my opinion
Ways to see if your dealing with a good agent
1) ask them what properties they have sold in the area in the last 6 months, have they got material ready to prove this
2) how do they value properties, do the use rp data, gut feeling "etc"
3) most important testimonials or can you call a current vendor to see what they think of the service so far
I wouldn't personally give the two properties to the agent, use one of properties as leverage
if they provide good service and they get you a good price then give them the 2nd property to sell
for fees like Jamie said what's more important the price they sell it for or the commission you pay
after you see three agents you will get an idea what the average sell price will be and also the average fees
Rather then setting out one fee maybe you can do some thing like this "eg"
500k – you pay 3%
530 k you pay 3.3
For marketing: internet is a must
a board is good
newspaper starting to die out and very expensive
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Hi jac M
i literally live 10 mins away from rockbank, your spot I believe by the end of the year development might start.
A few friends of mine who live there own large parcels of land. The developers are taking there ttime i think there is a gas line issue. But once it goes through $$$$
aldo people like this country because they get ccenter link payments lol
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Hi brendon
Welcome and we are all here to help. One thing I learnt from this forum is that you will get both positive and negative opinions in terms of the property market. Who is right? Well no one really, some people will make allot of money and some people won't in these times. I'm only 5 years older then you and I sold two out of my three investments properties . Properties
has changed my life for ever, we are very comfortable finically. My family at the time said don't buy , it's bad to own properties but thank god I didn't listen to them. For me property does not interest me at the moment, but I invest in other things, I keep regular contact with this forum because I have met some really good people and the market is always changing so I need to ensure that my knowledge is kept up to date
Budget, learn about money, learn how to negotiate and learn to take rrisk team up with a good broker, Jamie or Richard ffrom here can help, get a good accountant and a lawyer
Also just because you live in Melbourne it does not mean you can invest in other states!!'
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
I agree Media and government do have a large part to play, but like it or not there are other factors that are contributing to this downturn.
1) Europe: stuffed, I wok for a European shipping line the 2nd biggest in the world and trade from Europe is almost at nothing
2) talking to contacts in china who are in the shipping industry have noticed a downturn as well
It's not the end of the world it's just a challenge that's all, I know I might sound negative but I am a positive person
for me the share market has been my cup of tea
The only thing most general people need is fincial education, the amount of people who can't budget or save is incredible, I'm waiting for ASIC to come back with a positive reply to give me permissions To write a book about how to save for a deposit, how to budget etc, how to build up knowledge
Wish me luck anyways
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Hi D Wolfe, Thought it would be a good idea to reply while I am having some lunch in my office.
Interesting article though, but being only 10 days into the new year it is too early to speculate on how things are going to turn out.
My view has always been this, In boom and bad times, Each suburb, each state and house type will provide a different result, some being positive and some being negative.
I strongly believe the Melbourne market is going to be a flat for quite some time, allot of changes are happening within the market place and I also believe the government is going to increase the VCAT fee’s. This is only going to hold buyers more back. Also a few friends who work in real estate (property managers) have said that 2012 the amount of times they went to VCAT was astonishing, Allot of people just cant pay the rent.
Sure interest rates are going down, But are banks tightening up their criteria? (just a question lol), The rental market in Melbourne as well has been interesting, There is a huge demand for rentals but people are not prepared to pay the amounts that landlords want. My generation the famous Y generation is even more interesting, Friend who lived with just one house mate are now looking for another house mate. People are opting to share more. Demand for renting might be their but people are also looking at sharing.
For me I almost have my deposit for another IP ready, But i will not be rushing to buy, There are going to be some great bargins in the near future
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Most countries are going through a difficult time
but what matters the most is how you handle the situation
some people will thrive and some people will get crushed
even when times are good so many people get crushed
allot of people don't have any form of fincial education
thats the real problem
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Wouldn't ARA require funds for stamp duty as well?
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Sorry jack I'm Maltese it's in my DNA
Once I finishy e boom il email you jack
tips and tricks on how to save and why
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Jt7 I can do one better lol
my wife an I have a sub news / Lotto store, I get the AFR every day for free and take it to my work, I can return it on Sunday and get a full refund, also the coffee shop across the road will gives me a free coffee every day providing I give them the Herald sun
again by Sunday I can rerun I lol
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Hi Freckle,
I am not going to have time to look at this video at work, but here is a quick opinion about Japan, My view is based from two people (one is my mentor) who own one of the largest logistics company in japan and who sit on a board of a certain car manufactures and owns a Japanese real estate firm
I actually spoke my mentor only two weeks ago, he regularly flies in and out of japan. Our meeting started about "the logistics business in japan" This business has been operating for over 20 years and he has key clients who i cant name, but from his view the amount of freight leaving the country is diminishing at a quick rate. He showed me some figures (in regards to the amount of containers moved over the last 5 years) and you could see how much the market has slowed down.
My mentor admitted that the economy is in trouble in Japan and he has had to slash a high number of employees hours from Full time to Part time, Thankfully being such a large company he gets great support from the Japanese government.
But he made a good point, Should fear stop him? Nope he is always looking at ways at improving his bussiness and on the other hand his real estate bussiness remains pretty steady.
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
done,
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Hi Matt,
I can forward you a profit and loss statement (without my figures though lol) that I use for my own personal need. Its a great simple to which i track every day at 6am before I leave to work.
My life style might sound busy, but its all about time planning, at work JAN/FEB is always quiet, most staff at my work place just have coffees, joke "etc" which is all good but I use my time to network, read, plan and more importantly execute. With the Tattslotto business I have three staff members who I trust so that makes life easy.
Maybe rather then trying to do three or four things to earn more cash, Try and focus on your first primary income,
maybe do a course, invest in your self, and see if you can get a career change to earn more money as well.
some times when you have to many things going on and especially at the "new stage" of every bussiness you may loose focus on your whole goal.
If you want the template please let me know what your email is…
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Hi Matt,
It is always a good idea to look at other ways at generating income, When i first started buying property I always did a couple of things, I was working full time in logistics and I was working one day a week at a phone store, The full time wage I used to save in an ING direct account and the Phone store was for living expenses.
All great things do take time and even at 28 I will do a couple of things to get extra money, I work full time as a State manager for a shipping company, we own a tattslotto store that provides extra cash flow (two years ago it was eating my cash flow lol) and as of MARCH I will be lecturing at a TAFE in Melbourne ( twice a week).
Hi Matt,
It is always good to look at other ways at generating an extra income, When I first started buying property I was working two jobs at the time, One for living and one for saving. 10 years later at 28 years old, I still do a few things.
1) Full time –PAYG as a state manager for TAS/ADL/VIC in shipping, 2) Tattslotto store – 1.5 years ago it was eating my cash flow but a bit of changes have made it turn into a good business 3) I will be lecturing two times a week at TAFE, I will be teaching logistics, on a Saturday morning and weekday.
I am always working on another concept but we are having issues in getting a license (BLA in VIC is getting tough)…
But in saying that before you look at a new concept have you looked at your personal budget?
If not have two columns INCOME VS EXPENSES, Out of the income expenses is there any expenses you can cut?
Even if you can cut only $50.00 from your week budget over a year that = to $2600.00
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Hi S,
Getting motivation is the easy part in life, There are plenty of successful people in life that you can look up to, When I drive to work rather then listening to the radio about "how bad the world is" I go on you tube, turn the blue tooth on and listen to documentaries of successful people.
Richard their might be a limit on how many shoes you can fit in a suit case but my wife has found a site form the UK…
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Jamie M wrote:Call me crazy but I don't think I'll ever retire – I'm the type that gets bored on holidays. I can't sit still.I guess it helps being in a profession that I actually enjoy so it doesn't feel like work.
Having said that, financial freedom does provide you with options – which is always nice.
However, for those that aren't financially free or close to it – if the daily grind is what you're trying to escape, maybe look at changing what you actually do for a living. It can make a world of difference.
Cheers
Jamie
Hi Jamie,
You and I must suffer from the same condition lol, I don't think I will ever retire as well, I love what I do for a living and its part of my life. After reading Richard Taylor API article (100 times) it has motivated me to become finically free to have more "options" and it also has pushed me to do some thing I love for a living.
your 2nd point is spot on as well, If you cant reach a certain finical goal for what ever reason at least do some thing you like and enjoy.
Life is not about how much money you have sitting in the bank or what material objects you can buy , Its about having a strict balance between, Having enough money to do something usefully, good health, satisfaction and purpose in life, How ever being fincialy free or close enough is a great feeling, Less stress = Good health = more oppurtunties due to motivation
You will also be surprised that once you do some thing you like the amount of opportunities that present them selves are endless.
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
LOL,
My wife likes UK brands, Burberry, Richard Im sure your wife would know this brand…
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Before I got married I asked my wife this, Kid or Shoes, She wants Shoes,
Thank god for that….
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
