manofaction replied to the topic Reno Toolbox “Quick Anyalsis” not resulting in any potential deals… in the forum Hi guys,
I’m no expert in 12 years, 1 month ago
Hi guys,I'm no expert in this area but there's a few things to keep in mind – these are based on what an expert renovated shared with me and he has done very well from renos.1) You buy for 30% below your intended sell price, not 30% below average price for houses in the area – big diff.2) Your sell price will most likely be well above the…[Read more]
manofaction replied to the topic How to get direction-am into Real Estate Investing in the forum No Subject 12 years, 12 months ago
All successful investors have a system that they follow, so you are on the right track to be wanting a system.
But that system is not going be precise and exacting, like a McDonald’s formula… Step 1, 2,3,4 etc and then you are 99.999% guaranteed of getting X.
That’s because ALL investing involves risk and that comes from the fact…[Read more]
You will read a lot about “goin’ down to City Hall and looking up the defaults registers” in many books. But this is an Amercian thing that can’t be done in Australia because of strict privacy laws.
There was a time when a lender would sellup a property and was only interested in getting enough from the sale to clear their problem…[Read more]
KPI is on the money.
Frankston North (The Pines) is hard core housing comm area and during the 1970 had a reputation as a fairly rough and fairly tough area.
Today this is changing and the area is slowly ( read very slowly) being gentrified.
You’ll find the average house is a rock solid concreter that was built by the Housing Commission in a…[Read more]
CF101 used to be THE hot game and was a best seller for a long time.
These days, it seems to have lost it’s appeal despite it still being a great game to play and invaluable learning tool.
My guess is this has happened as part of the normal cycle of any game but also because of the very reasons we see in the posts here –
1) getting harder to…[Read more]
The best person to advise you on this is your accountant… that’s what you pay them for, that’s their area of expertise.
If you dont have an accountant, then maybe it’s time. [exhappy]
There are many books I would recommend – including most of the ones already mentioned – but it’s a bit hard unless we know a bit more about what you already know, what you hope to do etc.
If you want to drop me a line, more than happy to discuss this further with you. [biggrin]
Good that you have the courage to ask the question in the first place.
You see, many people make the basic mistake of thinking they are experts at everything simply because they can do somethings really well. It’s called false confidence… or sometimes “ego”.
The dilema you face is that you might have the foundations of being a master…[Read more]
Hi Glauco and Brineen,
Vendor finance is not something “you try”, it’s a commitment on many levels and there is ongoing work to be done ( which you may want to contract out like we do with property management).
So apart from the technical knowledge, there are other aspects of the transaction you need to be aware of.
I would therefore suggest…[Read more]
Rave About It – sounds like a good concept.
Only concern is the accuracy of the content.
Easy to load up with good testimonials and there’s no verification those were from actual clients.
Similarly, has potential for flame mails to appear or be censored ( so you dont see the bad ‘uns)
The intent is good. Let’s see how it goes over time.…[Read more]
That is one option.
The prob is one guy would accept as he wants to take his money and run, the other wants to stay.
Still, it’s a good wrap, so it’s just a matter of time to see what happens.
Thank every one.
I’ll go thru some of the responses;
Terry; You could ‘buy them out’ by terminating their contract.
As they are complying with all terms of the agreement, there is no reason to terminate.
Sue: What is the main issue here? the fact that you want out or the fact that they are indecisive?.
Yes, the indecision by one is creating some…[Read more]
I’ve never done a development myself but through my business and personal connenctions, I know they are complex things to do. No doubt you are aware of this yourself.
Don’t let greed (or ego) cloud your decisions by wanting to “do it all”. Even the experts know what to farm out to other experts.
So you have three choices;
1) Start from…[Read more]
Dolf is a KIWI who has never had a “real job” in his life.
He is a professional property investor with residential and commercial holdings in numerous countries around the world that include NZ, USA, Australia and many, many more.
Robert Kiyosaki regards him as one of the smartest property investors he knows, so I guess some might see that as a…[Read more]
If your investing is a hobby, then treat it like one and forget all about accounting and keeping records.
Seriously, investing shouldn’t be a casual/ hobby thing, it is a “business” and therefore you need to keep accurate records etc.
Like many things, it’s easy to cut corners but when something goes wrong, then it becomes false economy and a…[Read more]
When you speak with your Solicitor, don’t do it like most people and ask them to work within their templates.
Rather, tell them what you are wanting to do and your desired outcome, then ask them to draft a doc to that specification.
As they do this, they should come back to you with some “what if” questions so they can cover them in…[Read more]
internet affiliate program.
find a product that has a good commission, buy a domain ($10), set up a single page web site (hosting about $10p/m max), write some long copy, insert the affiliate link and create an adwords campaign.
can be done in a few hours for under $100-.
make $100 per day if you know what you are doing.
then repeat with next…[Read more]
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