VICTORIA

Hi Marc,

Just read your post.
Sounds okay, but not my “cuppa tea” as I try to sit to my own state….no offense anyone; I HAVE NOTHING AGAINST ANY OTHER STATE…I just like to keep my IPs in my own backyard that’s all.
Hope you get more replies….
Cheers,

Jo

When is the lease up for renewal????

Look at writing into the next agreement. Maybe adding, that if he mows the lawn, you will not raise the rent by so much, or split the differnce. Either way, compromise is the best solution here.

Don’t be hard on him, after all, apart from the grass issue, he pays on time, and keeps the place immaculate…[Read more]

Originally posted by NEWGEN:
Wowsers.. I’m only a beginner (24yo with 2 properties) but to me, to be ‘safe’ with your loan repayments you should hopefully be able to make the repayments + any other expenses from your income even without rental income from the properties and still live comfortably (i.e. not surviving on 2 minute noodles ). It’s…[Read more]

Hi Rugbyfan,

You’re absolutely right, and that is why I wouldn’t consider it for myself. There are those out there, that may consider it worthwhile, hence my drawing attention to it, but it is definitely not for me.

I am not into “cheap” properties, even though I am interested in cashflow over CG, I ONLY purchase properties that will have a…[Read more]

And you ACTUALLY considered buying it????????????

Man, would love to know what the rental on that would be, and/or what the value of the property would be in say 10 years time (if it is still standing that is)!!!!

Sorry, guys but I find it hard to believe that anyone would consider such a dump. I had a look at one property valued at 160K months…[Read more]

Thanks Samwise,

I wasn’t thinking of borrowing anything against my PPOR – I would NEVER do that. I am lucky that I don’t have to worry about that for now anyway. I own my home, and 3 IPs outright, but was just curious to know what Steve considered to be an “acceptable” debt an investor should take on.

Cheers,

Jo

RussH,

I see. That’s cool; whatever works for you.

Just curious though (and again, sorry about the confusion with that extra 0), how many properties do you have? and what is your rental return per week/month on each?

You’re probably doing better than me, and if so…good for you.

If this is being nosey, please either disregard my question, or…[Read more]

Oops……..

Thank you Baloo….you’re quite right. [blush2]

RUSSH….MY APOLOGIES…….I MISREAD THE FIGURE. NOW IT MAKES SENSE!!! In that respect, 160 p/w for 32,500 property is GREAT !

Can’t say I still agree that it is the best way, but if it works for you…..knock yourself out Man !! LOL

Jo

Originally posted by spongefingers:
On the other hand just two of my -ve geared props that McKnight says are so bad have gained me over $1M in equity over the last 2.5 yrs.
Hmmm I think they were worth the holding costs.

It’s no use spongefingers, McKnight’s followers won’t be converted, and that’s okay, each to his/her own.

Keep up the good…[Read more]

Er Excuse me RussH,

I have no problem with your venture; how you conduct yourself or the means you use to get to your end.

HOWEVER…..I was wanting you to explain to me, if you are so interested in cash flow from cheaper properties (which is cool) I can understand what you claim as a bargain if you said you purchases a property for say 24,000…[Read more]

Originally posted by RussH:
My advice.You are young.You have a lot to learn.Best way to learn is reading books,reading posts on forums,meeting wealthy people and asking them questions.
Best book I can recommend is “Money Secrets Of THe Rich” by John Burley.
Read it . Do what he says. And prosper.
One other bit of advice.
When someone helps with a…[Read more]

Delyse,

Divorce is yuck (I know from experience) but life goes on…I am happily re-married now. LOL
And yes, selling is SOOOOOOO STRESSFUL, hang in their…..you’ll sell….BELIEVE IT & IT WILL HAPPEN.

42 is a start; keep us posted [biggrin] We’re rootin’ for ya [jerry][thumbsupanim][thumbsupanim]

Jo

Hi Delyse,

It is early days yet; you only listed it a month ago – did you say 90 days….give the guy a chance. Besides, as long as does what you expect him to, he is doing his job; however he can’t MAKE people come to the open days….they must want to!!!

Secondly, I realise it is difficult to gauge whether a drop is in order as feedback has…[Read more]

Originally posted by camel_81:
then suppose on a nice sunny melbourne morning(as if they get that much sunshine

Hey, I object to that….if it sooooooooooooo sunny in WA why move here???????

That really was a nasty dig at Melbourne don’t you think Camel_81??????????????? [angry2][angry2][angry2]

Jo

Samwise,

It was in North Fitzroy, just off the very hip cosmopolitan “latte sipping” Brunswick Street. Can you believe it??? I grew up in the area, and once upon a time (kids I grew up/went to school with) couldn’t wait to move out fast enough!!! I could believe my ears when the Auctioneer exceeded my “reserve” price by a whopping 175K, yes…[Read more]

mrsimba2,

Areas such as Glenroy, Dallas, Coolaroo, (some in) Thomastown, West Heidelberg; to name a few. They are all less than 20km from CBD. Be aware though, that some of these areas do have Ministry of Housing or ex MofH properties, except for Thomastown which has a large number of industrial sectors to it. They aren’t the most popular…[Read more]

Hi Kay,

Yes my taxable income for last year was HUGE…the property which attracted the CG sold for a profit of well over 450,000, when added to my yearly income (wages/rentals) etc., ended up a tidy little sum. But luckily, my accountant did find a few legit deductions, but alas, [crying]not enough. I am okay with it, originally the bill was…[Read more]

Thanks Derek,

I guess I have always paid the (expected) 10% deposit. Maybe I should have read the contract for the finer print…damn, I knew I should’ve got that new eye-glass prescription!!! [blink] LOL

Anyway, it really doesn’t matter, most of my negotiated settlements are 30 days anyway (which is what I prefer) when I buy, to tenant them…[Read more]

Originally posted by MiniMogul:

“Why do people assume that just because you have IPs you must be some rich #$%#@ that looks down his/her nose at those who only have their PPOR???”

Reading between the lines: You sound like you are upset because this happened to you. Was it a one-off or does it happen a lot?

Because I hate to say it but if so,…[Read more]