PropertyInvesting.com | MikeRobinson | Activity

MikeRobinson replied to the topic Your First IP !! - Post here ! in the forum No Subject

Wed, 31 Mar 2004 14:11:41 +0000

Hi gang,My 1st IP cost$13000 in 1996.I rented it for $90/wk.Now worth $30000 and still rents for $90.Have had the same tenant for 4yrs.Mick

MikeRobinson replied to the topic does anyone think.... in the forum General Property

Thu, 15 Jan 2004 14:02:37 +0000

C’mon Kay
Stop picking on Broken Hill.I can make all my I.P.’s pos.Every time I acquire 2 properties in B.H. I then buy 1 in Adelaide.So my excess rents in B.H. on top of the rent in Adelaide pays the loan.No money from my pay towards any of them.Has worked 3 times so far.Imust admit that all the wrappers in the paper are squeezing up my…[Read more]

MikeRobinson replied to the topic Christmas Presents in the forum General Property

Thu, 27 Nov 2003 11:45:58 +0000

Merry Xmas guys and gals,
I give my tenants xmas week free but only the long term ones.I figure that 2yrs looking after my property and paying on time deserves a pat on the back.I always like to remember how tough they are doing it and still paying on time.
Just me remembering where I came from,Mike

MikeRobinson replied to the topic Here is a property in the forum General Property

Sat, 22 Nov 2003 05:36:36 +0000

Hi guys,
Oxide St is close to the town centre and this house is in a good pos. except that the neighbours on either side are(how can I put this and not end up in the poop)undesirable.In the B.H. scale of things this house is$100/week but definitely no more.What else?Oh yes,population 21000,stable.It was 36000 20 yrs ago.We are in need of a…[Read more]

MikeRobinson replied to the topic Here is a property in the forum General Property

Sat, 22 Nov 2003 00:28:52 +0000

Be wary,
I know what is on either side of that photo.Mike

MikeRobinson replied to the topic 6 questions worth pondering in the forum General Property

Sat, 22 Nov 2003 00:20:43 +0000

OK Richmond here goes,
1.Watching family and friends seemingly follow the same pattern in life and achieve little.
2.Have purchased 8IP,s and a PPOR in various places all pos. cashflow.Keen for more but have stopped mine while I’ve been helping 3 children start their own journies.They all agree that practising with dad’s money is great.I am my…[Read more]

MikeRobinson replied to the topic who plans to buy in the next month ? in the forum General Property

Wed, 19 Nov 2003 12:57:33 +0000

I remember paying 22% in 1988 for a business loan to purchase a hotel-motel.Hurt like hell paying it back but I still came out on top.Somehow the current interest rates haven’t scared me off at all.The old story still rings true,do the sums and you should be fine.Happy investing,Mike.

MikeRobinson replied to the topic Keep Tenants happy??? in the forum General Property

Mon, 03 Nov 2003 08:46:44 +0000

Hi Westan,I agree.I gave a gift voucher from a nursery to a tenant who wanted to plant a garden.She bought shrubs which she cherished and my property looked a treat.She thought I was wonderful but when she left they were still mine.I differ with the rewards for paying on time.I think they have an obligation to pay for what we provide when it’s…[Read more]

MikeRobinson replied to the topic Keep Tenants happy??? in the forum General Property

Mon, 03 Nov 2003 08:17:50 +0000

Hi Robertv,I generally look after my longer term tenants by giving them Xmas week rent free.It’s only $100 in my case and I figure the 100% occupancy I’ve had with them over the years means I’m well in front.Cheers Mick.

MikeRobinson replied to the topic broken hill for investments in the forum The Treasure Chest

Sun, 31 Aug 2003 07:39:40 +0000

Hi aaronj,I live in Broken Hill and do very nicely with my rentals but I believe that the bottom end of the market is saturated.There is still a demand for better quality rentals within the town.However,you still have to do your homework the same as anywhere else.You would probably do just as well in your own area because you understand the town…[Read more]

MikeRobinson replied to the topic Increase in interest rates in the forum No Subject

Wed, 27 Aug 2003 11:18:05 +0000

Hi Lamotte,I’m not that smart but it seems to me if you can afford to do it in the present climate where you know all the rules,why wait for a supposed situation to occur that we can only guess the rules.We can only play each game as it happens.Worry about the what if’s when they actually happen.Just my 2 cents worth,Mick

MikeRobinson replied to the topic is tassy really that good in the forum No Subject

Wed, 27 Aug 2003 10:26:04 +0000

HI 224013,I’m from B.H. and you are right,there are lots of bargains here.We have houses ranging from $15000 to $400000 but we have had a lot of interest from out of town lately and I believe the bottom end is fairly saturated.We are no different to any other town,you still have to do your homework.If you get a tenant in your cheapie you will be…[Read more]

MikeRobinson replied to the topic What's your profession? in the forum The Treasure Chest

Wed, 27 Aug 2003 08:27:22 +0000

Hi Guy’s,It’s been a while since I’ve posted but there are no supermarket owners on this list,so I’m in as the 1st.Maybe this post will start me writing again,maybe,maybe I will just keep reading.All the best to you all,Mick.

MikeRobinson replied to the topic Purpose of Positive Geared Property in the forum The Treasure Chest

Sun, 30 Mar 2003 07:52:39 +0000

Hi jg1234,My reasoning behind my pos. geared properties is 1)cashflow and 2)I then marry that to a city property and the excess rent from the 1st one allows them both to be positive.While my main concern has always been cashflow,I believe that even my country properties have all gained in value.Hope the thoughts of a smallfry can help,Mick

MikeRobinson replied to the topic Why Positive Rental Cash Flow Doesnt work in the forum No Subject

Fri, 14 Feb 2003 14:08:55 +0000

I guess I will have to ask the post office to send me all those accumulated repair bills that I don’t know about.And I suppose I’m going to re-screen all those tenants I thought were good.They’ve only been there for 2yr ave.I never picked up that they were all shitheads.The things you learn on this forum.If this info level keeps up Steve will…[Read more]

MikeRobinson replied to the topic Step1 in the forum The Treasure Chest

Fri, 14 Feb 2003 13:38:11 +0000

Hi Spring,Oh to be 40 again!I also started at age 40(I’m now 48) and must confess hadn’t really grasped the real meaning of equity until my late 30’s.I started with small positive cashflow property because I couldn’t come to terms with neg. gearing and I.O.loans(and still can’t).I now have 9 properties in value ranging from 20000 to 500000(3…[Read more]

MikeRobinson replied to the topic Anyone here from SA? in the forum Opinionated!

Fri, 14 Feb 2003 13:13:01 +0000

Hi Guy’s,On a clear day I can see you.I’m from Broken Hill.Mick[]

MikeRobinson replied to the topic Why Positive Rental Cash Flow Doesnt work in the forum The Treasure Chest

Fri, 14 Feb 2003 12:59:12 +0000

Tails old boy,After reading all the posts,including yours,I really don’t think that anything you read on here is going to convince you. Your mind is obviously made up.That’s fine,but I suggest that you look elsewhere(maybe a share forum).I on the other hand am one of those investors that relishes the cheapies(I like to call them penny…[Read more]

MikeRobinson replied to the topic nsw rural property in the forum The Treasure Chest

Thu, 13 Feb 2003 12:34:17 +0000

Hi MJ,Grab a red pen @ and ruler,draw aline across N.S.W.about1/2 inch in from the coast.Any town West of this line will have a bargain.Guaranteed!All you have to do is look.It’s not that hard.How do you decide if it’s a bargain?Simply do your sums and if it pays for itself,it’s a bargain.Shit now you have to find another one.Go for it MJ before…[Read more]

MikeRobinson replied to the topic newbie in the forum The Treasure Chest

Thu, 06 Feb 2003 16:10:59 +0000

Hi Hilary,I’m one of the lazy investors.I have only worked with buy & hold because wraps sound too much like hard work.I’m still in the J.O.B. SITUATION and 12 hours a day is enough for me.I do concentrate on being friendly with my tenants though and have to say that they are all long term.I haven’t had an empty house in 3 years.100% in 7…[Read more]

MikeRobinson replied to the topic Investing far from home in the forum The Treasure Chest

Wed, 05 Feb 2003 14:17:44 +0000

Why the worry about distance?Adelaide is 5 hours from my town and I have 3 I.P.s all spread across Adelaide.They all work well and only 1 is managed by a real estate agent.I’m always looking for more,both at home and in the city and don’t forget,Mr taxman just loves to pay for my yearly visit to Adelaide to check on the investments.Question,do you…[Read more]

MikeRobinson replied to the topic newbie in the forum The Treasure Chest

Wed, 05 Feb 2003 13:00:13 +0000

Hi Newbie,I have no problem telling you where I live,I live in Broken Hill.You can buy a house in B.H. anywhere between $15000 to $400000.A good comfortable house would cost about $45000_$65000 but houses can still be purchased at the lower end of the scale and be rented for $100/week.Just remember that cap. gains are almost non-existent.Who…[Read more]

MikeRobinson replied to the topic secret to early retirment thru property in the forum No Subject

Wed, 05 Feb 2003 08:50:39 +0000

Hi Ally,I’m with you .I don’t see anything wrong with the original version,heck the proof is in the pudding,but if you have the equity to start now then do it.Put in context,his 1st house cost maybe $20000 and your’s maybe $300000!The clock is ticking.Remember,you only have to please yourself.There is no right or wrong,just different ways.All the…[Read more]

MikeRobinson replied to the topic newbie in the forum The Treasure Chest

Tue, 04 Feb 2003 13:13:10 +0000

Hi Susie,Of course it can work in your town.In fact I think it can work better there than in a capital city.I live in a country town and started with $20000 property,renting at $100/week.Great return,no capital gain.As if I care,now I marry a city property with a home town one and they are both positively geared as far as I’m concerned.Inow have 9…[Read more]

MikeRobinson replied to the topic Investment Selection Criteria in the forum The Treasure Chest

Tue, 28 Jan 2003 12:58:23 +0000

Hi Isagold,cash flow positive means just that.It means you use none of your own money to pay off the investment.What is a reasonable return?Well,depending on where you are between 10 and 36%Happy investing,Mick

MikeRobinson replied to the topic Just Wondering in the forum The Treasure Chest

Mon, 20 Jan 2003 09:28:33 +0000

Hi Belladonna,regardless of who wrote the posts remember we all started as little fish{even Steve}.I unfortunately only started to understand at 40.If only I knew at 20!Also remember that you are investing for you and no-one else.The goals are your’s alone.Go for it,just don’t bite too big too early.P.S.I bet next year this year’s goals will seem…[Read more]

MikeRobinson replied to the topic Investment Selection Criteria in the forum No Subject

Sun, 19 Jan 2003 06:09:26 +0000

Hi Guy’s&Gal’s,It’s good to see the different goals that people are setting even though they all have that common theme.Ifeel the need to upgrade my personal goals both for 2003 and beyond after reading these posts but Dan is right,itdoes help to write them down and read other peoples.AD when are you planning to sleep?Angie,what is your…[Read more]