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lifeX
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@lifex
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August 17, 2005 - 2:59 am
Initially a RE Agent may be a bit dismissive of us young ones, BUT If a RE Agent thinks you are likely to make an offer, they quickly try to become your friend.
An accountant starts off friendly and If you keep paying an accountant on time, they will stay your friend.
A broker will always be friendly and helpful, they love commissions.
A Bank worker will maybe become friendlier as you borrow more and more money.
Basically Everyone loves it when you make ’em money!!!
Finding good quality help is another thing altogether.
####### A good way to get some inside help from an RE AGent is to ask if they can get you a list of all the recent sales in the area. All agents can get this on their exclusive database, and it is a good gauge of their actual friendliness. However the friendly agents may not be busy because their agency has overpriced properties.
Busy agents can be quite dismissive, but this can be a good thing. If they are really short of time, then they are very likely to push through quickly any low offers HARD on their vendor……………BARGAINS!
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Lifexperience
lifeX
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@lifex
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August 16, 2005 - 4:54 pm
the yeild may actually be better if you factor in realistic allowances for vacancies and damage.
Always good to go for the better part of town, the local renters always look here first
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Lifexperience
lifeX
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@lifex
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August 16, 2005 - 4:19 pm
find a partner with equity and no income….. theres heaps out there.
Add value to your existing props with reno’s to get more equity.
Trick rich uncles to overpay for all the other houses on the market in your street, then get a valuation.
jparsons,
don’t forget to get the plumber around to change the copper pipe (before the earth bond) for entertainment. They never believe a neutral fault zaps ’em until they actually get a boot.[devil]
e
Oh, Oh, Oh…… You can eat your own limbs for food. Many survivors on rafts at sea have saved heaps on their food bill by eating themselves. You can only do this for a few months though…….. hmmm[blink]
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Lifexperience
lifeX
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@lifex
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August 16, 2005 - 4:11 pm
Sooner one invests, the sooner one gets the magic of compounding.
try 5% growth per annum on one property over 30 years, and look at the value.
then try 5% growth per annum on 5 properties over 30 years and look at the value.
Neutral gear your houses with tax breaks and depreciation and the help of tenants rent, It might not cost you much more a week out of your pocket. Later, you may wonder why you didn’t start sooner.
Try asking any seasoned investors if they wished they had started LATER than they did!!!
The mortgage is insignificant compared with the potential of a large portfolio to grow.
Just my thoughts, this cold wintery evening :o)
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Lifexperience
lifeX
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@lifex
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August 16, 2005 - 3:56 pm
you can compromise with landbanking. Ie: buy a house with a large component of the value/price relates to its potential to build more dwellings on the land.
Townhouses/dual occ. down the track for instance.
As you have worked out land is great and always appreciate in value. But plain and simple vacant blocks are very expensive to own week by week as there isn’t the tax advantages and there is no rent to subsidise holding costs….. as opposed to residential dwellings.
Good idea to throw a bit into a well balanced portfolio.
A portfolio with A few cash pos. props to pay for a big slice of urban fringe land would make for a very tasty package if it was affordable.
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Lifexperience
lifeX
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@lifex
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August 16, 2005 - 3:46 pm
your super might offer a good deal!!
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lifeX
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@lifex
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August 16, 2005 - 9:42 am
Wezwaz,
I have learnt the hard way of what you write.
Having come flat chat off the back of countless inspirational books and money making novels, I was convinced that 12 months was the most time I would need in the real world to make my millions.
I am not sure if anyone remembers my early posts, but they were through coke bottled rose glasses. So damn rosy the thorns sticking in my eyes blinded me from reality.
I remember the Dousers at the tim e tried to explain that the world didn’t work this way, BUT I DIDN”T LISTEN.
Given hindsight and many kicks up the bum from real life investing, I hit that sinking gut feeling as I realised I may have underestimated the time and ease with which wealth is built.
I still believe you can do anything in 12 months, as long as you get on a roll. This would usually require experience, knowledge, contacts, a good team etc. Which would need to be in place before the roll.
Back to the grind of success for the 99 per centers. A goal and never dying persistance.
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Lifexperience
lifeX
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@lifex
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August 16, 2005 - 9:22 am
It’s kind of sad that advice is an issue that needs to be regulated and consciously questioned as to it’s accuracy and relevance.
I consider it to be a basic life skill that needs to be learned early.
But, there is still a large proportion of people that believe everything they read, accept opinion as fact and fail to properly research “advice given” when the consequences can dramatically affect their life.
Usually the wringer of life will set these people straight in a big hurry. It’s when one’s life savings and their families future are gambled on “advice” and no further investigation that train wrecks ensue, and often years are flushed down the toilet.
Ai shaid ai aistened en ey aid ot to aick my eeth in ADVICE.
(I should have listened when they said not to stick my teeth in that vice)
>>>>>>>>>>>>>>> ha, I couldn’t resist!)[]
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lifeX
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@lifex
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August 16, 2005 - 8:55 am
Deposit Power won’t do bonds for trusts with corporate trustees.
Be careful!
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Lifexperience
lifeX
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@lifex
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August 16, 2005 - 8:48 am
Dazzling,
I love a good trailer. Mine is great because of the yamaha trailbike in it.
7 * 5.
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lifeX
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@lifex
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August 15, 2005 - 1:37 pm
try the vendor finance association website., if you can get through, you may find wrappers ready to help.
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lifeX
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@lifex
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August 15, 2005 - 3:37 am
Some of the outer suburbs have new developments. You could try finding a display home on a leaseback from the builder. There are a few pos geared.
Or try wraps/lease options on older established homes in cheaper suburbs.,
Good luck.
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Lifexperience
lifeX
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@lifex
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August 10, 2005 - 3:11 pm
The vic state govt. are doing similar outrageous things down here.
Gee, it hurts when the accountant is wrong. Sack him!
Maybe consider putting the next property or so into your own name up to the threshold, and go from there.
i feel your pain. Try just to think of it as another cost as an investor. There will always be surprises like bad tenants, property price drops, hot water service repairs, and on and on. Just remember why you bought property in the first place and think of all the oodles of cash it will make you down the track.
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lifeX
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@lifex
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August 9, 2005 - 12:47 pm
As a tenant, I was told early one morning that the builder next door was going to demolish the wall on the boundary.
I promptly told him I needed that wall to hold the garage roof up.
After a few quick phone calls emphasising that it would be hard to find a new tenant with building going on next door and that this wall was of value to my landlord/owner as it added to the appeal of the property, some compromise was acheived.
They only wanted to knock wall down because it was ugly compared to new townhouse.
So they just rendered it on the new building side and everyone was happy.
As a tenant you can apply some leverage, it is just another case of negotiating like a lot of aspects in life.
Find out what the owner next door might compromise on and find out how prepared your landlord is to keep you.[biggrin]
Sometimes a better result is found if you deal directly with the parties involved rather than going through the slow process of legal avenues.
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Lifexperience
lifeX
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@lifex
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August 8, 2005 - 6:06 pm
resort based services, cleaning, mini bars, etc. Now tied in with Breakfree in Australia.
His big stumbling block was liqour licensing laws.
I will get the name of his business for you if it is important.
It is a franchise to hotels and resorts and not so much to everyday consumers, so you may not of heard of them.
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Lifexperience
lifeX
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@lifex
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August 5, 2005 - 3:13 pm
a friends father was in a similar spot to you a couple of years back. Running around like crazy trying to break the bigtime with a franchise.
At the time he was on centrelink as he had no income and living at his sons place on 2 minute noodles and running up huge phone bills he couldn’t pay trying to network and grow his business.
A couple of years later he has hit the bigtime and now has a franchise thats going international this year. He is making huge bucks now and is able to give his son a rewarding and challenging management position.
Aim for greatness and keep persisting. You will succeed.
cheers
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Lifexperience
lifeX
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@lifex
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Post Count: 651
August 5, 2005 - 2:50 pm
1969 Holden HR
[cool4]
bought with cash $2000………it’s reliable, cheap and easy to maintain, great for towing and has a front bench seat. Fuel costs a bit though and it has a few rattles.
er, Does anyone know how to convert miles to kms as I have no idea how fast i am going? I found that the police don’t take kindly to me when I point out the speed limit signs don’t specify kms or miles.
And you should see the accountants face when I show them the logbook in miles!
.
I average about 350 kms a week and it hasn’t missed a beat for ages. oh, hang on, the tailshaft did fall out the other week…which explained the loud knocking noise at the time.
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lifeX
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@lifex
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August 4, 2005 - 3:30 pm
Great product, i have used it with no problems and will use it again.
The only trouble is convincing the vendor to accept it. They much prefer cash. It makes for a little bit weaker offer. You could be holding a valuable property for as little as $500 out of your own cash as deposit for months!!!!! beautiful for you as the purchaser!
When using equity in existing properties as the security, deposit bonds are ace.
I would suggest reading up on the deposit power website all about how they work as this will help when it comes time to convince the agent/vendor to accept your offer with the deposit bond.
:o)
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Lifexperience
lifeX
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@lifex
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Post Count: 651
August 3, 2005 - 9:13 am
yeah!!
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Lifexperience
lifeX
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@lifex
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August 3, 2005 - 9:03 am
Yep, Bracksy wants to increase the Land Tax on Trusts by thousands.
Basically the land tax STARTS at 1% of land component.
I posted some links in this thread.
https://www.propertyinvesting.com/forum/topic/18754.html
It really increases the cost of using a trust in Vic for your first few IPs..
Be aware.
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Lifexperience