hee- it’s funny how you both insult each other and then want to do business together! The mind boggles! [blink]

kay henry

Thanks for asking the questions, redwing- you’re a very positive guy

What has been your best move?

Buying property! Knoqwing my spending habits (I have never been thifty), I would have nothing by now if I hadn’t bought that first cheap property.

What was your worst mistake?

Not buying more property when the market was flat as a pancake before…[Read more]

Thanks for the links, dmichie- i always like to keep up on those kinds of figures.

It is good news for first home buyers though- perhaps now they can afford to get their own home! But for investors.. well, I guess many can take a few $$$ off their net worth.

kay henry

I live right near redfern and it’s a fabulous area- for me. It’s between two Universities- University of Sydney and UTS, has thousands of students living in the area (always a massive source of tenancies), with thousands of new International students coming every year that need accommodation.

The cafe culture around here is excellent, and the…[Read more]

Mike,

Relying on *anyone* to make you a dollar is a mistake, in my mind. It’s our money, and we have to take responsibility if something works or it doesn’t. Any person can talk themsemves up- and it is a marketing technique for the seminar presenters to do so- but to allowa salesperson to sell you a prpoduct that is not useful to you, or that…[Read more]

This question gets asked every 6 months or so…

Thing is- who cares how much money people have, what their ages are, or if they live at home? Everyone is at different stages. Not all of us wanted to become builders or mortgage brokers- people choose all different kinds of professions- some of them have nothing to do with property- but they fund…[Read more]

If it was not your debt, then why did you pay it?

kay henry

Here’s an interesting article I just saw on Aussies et al buying up NZ property in small towns:

http://www.propertytalk.co.nz/content-146.html

kay henry

Well, buying an elderly person’s home, cashing them up, and giving them tenancy for life can’t be so bad… Unless it’s some major rip-off- and at first sight, it seems ok… then the only people who would be upset would be the whingeing children of the elderly person- worried about their inheritance.

kay henry

Hey Hux,

Website address is: http://www.moneyforliving.com.au/

It says on the website that the term of stay is as long as the people shall live- so I guess it’s a life-long tenancy- guaranteed. It also says that the company can pay up to 130% of the property value… which is interesting.

It would be better if the web page had more detailed…[Read more]

Jim,

Wow- an exit strategy before oyu’ve even entered- talk about real estate coitus interruptus! [blink]

Whilst there are literally thousands of still unbuilt OTP’s coming onto the market in Sydney, Melourne and Brisbane this year (read the figures somewhere this morning- can’t remember where), I imagine in the next couple of years- and by…[Read more]

neo,

I just wanted to make comment on your LVR calculation, because I think sometimes equity is seen as more simple than it is. Can someone *please correct me if I’m wrong about this, but I wanted to mention it because it does make a difference on how much useable equity one can have to make new purchases.

Caitlyn has about 1.4 million in…[Read more]

uforia,

I hope you don’t mind if I ask a question… the 9k you are paying extra for your property… areyou counting on making this 9k up as profit in some other way? Because otherwise you might be moving into negative equity if property values remain flat. I am assuming you would be thinking of some creative deal to get the LMI back?

I know…[Read more]

Nehal,

No rush I really don’t htink anyone without a job should get a mortgage- but that’s just old conservative me IP’s are expensive, and you need something behind you to pay it down.

I am also not really into parents going guarantor for their children whodon’t have a job, but if your parents want to take that road, it’s up to them- as long…[Read more]

LKGK,

The 11-second rule can also be seful as a way of *focussing* on rental yield and return. Prior to Steve’s book and ideas, most of the focus was on negative gearing and growth properties… and for many, the pride was in *owning* properties- but yield wasn’t paramount.

If you have checked out 100 properties, then you are obviously getting a…[Read more]

Scotty3 said:

“Unlike G7 I believe you need to be licensed as a buyer’s agent to bird dog in australia.”

G7 said:

” Unlike Scotty3 I dont beleive you need to be liscensed as a buyers agent to bird dog in Australia.”

Can anyone clarify? (perhaps by providing specific requirements/legislation/citing source?

kay henry

trisha,

It depends on many things…

* how much equity do you have?
* how much serviceability do you have? (you may have 100k equity but you’ll still be borrowing that 100k anyway)
* are you on a P&I loan? or an IO loan? How long will it take to pay your current loan off?
* how negatively geared are you?

If it is going to take you 20-odd years…[Read more]

darryn,

You could probably hang out with some experienced bird-doggers and see what they do- be like an “apprentice” or something. Basically, bird-dogging is being an expert researcher and having negotiating savvy.

Derek said he wouldn’t use a bird-dogger unless the person was an experienced property investor- and I agree with that partially……[Read more]

zeallous,

If you have purchased some resources, you’re on your way, but if you want specific info, ask the questions, and someone can give you an opinion

Re rents… I think it is best to check out, for example, realestate.com.au and go to the rental section and then the map and then the location. A comparison of rents similar to your…[Read more]

bacchu,

If you’re buying for the views only… it’s probably a mistake- as others have said, you can’t guarantee your own view. Check out the local Council papers going back a year (you can do this online) and see if there are any developments going on around you. Many views get blocked out by other properties going up aroudn them, or (God…[Read more]