Total Members: 148,754

myoung

  • Originally posted by Eisbaer:
    I am an agent in Brisbane, and standard practice in our office is that when there are two offers on a property, we have to get both buyers to sign a declaration saying they have put forward their best offer, and may not get another chance to do so.

    So in your case, if you made an offer on a property, and then we…[Read more]

  • myoung replied to the topic jenman agent??????? in the forum Help Needed! 14 years, 1 month ago

    A friend of mine got one of these jobs, they are real but you have to jump through hoops. The reason it may sound like telemarking is you earn your stripes, ie start out cold calling for listing appointments and progress to listing and sales within six months. He had to study the Jenman system and pass an exam before getting the job. Actually…[Read more]

  • BA XR8, fun and 80% business use on a $15K car allowance
    96 Jeep for the wife on Gas, family truckster

    Regards,

    myoung

    Money doesn’t buy happiness, but it sure as hell can mitigate a lot of things that make you miserable.

  • Have done it recently with just a clause agreed to by both parties solicitors. No Licencing agreement required. For minor alterations.

    Don’t forget to take out insurance before you occupy, especially if your using sub contractors AT ALL.ie Public Liability etc.

    Regards,

    myoung

    Money doesn’t buy happiness, but it sure as hell can mitigate a lot…[Read more]

  • Appologies if they have already been covered:

    -Don’t forget to spend time with your family, it’ easy to get carried away.
    -Research, research and research.
    – The more you learn, the more you will realise how much MORE there is to learn.
    -Ugly ducklings are goldmines – less competition and easier to get bargains. Focus on ones that are…[Read more]

  • Stay were you are or rent with friends to keep your expenses down and save like mad for your first investment. Stick what you have already saved in a managed fund or at worst high interest savings account(ie BankWest or IMG) and work towards you first property investment. While your doing this educate yourself as much as possible. Read books,…[Read more]

  • Hi Jenny1,

    I bought a property in 98′ in Vermont Vic. It was an ugly duckling. It was on the market due to a marriage breakup and had been unoccupied for a few months – the grass in the back yard was 5 feet long(I’m not exagerating). It was 860m2 in a court with a 11sq weatherboard that had some interesting renos but wasn’t finished. The base…[Read more]

  • Take photos of the cars where you can’t be seen doing it and send anonymously to the cops

  • myoung replied to the topic catch 22 in the forum No Subject 14 years, 8 months ago

    Originally posted by Ricksta:
    hmmm I know your right Foundation but renting in my opinion is such a waste of money. Maybe I’ll have to change my direction and look for a cheaper alternative. eg: townhouse or unit not a freestanding house [glum]

    Not if you rent something that is in a low yield area and buy an another investment in a high yield…[Read more]

  • Something tells me if they are renting the place to grow, they may be just growing more than one!

  • myoung replied to the topic boom bust in the forum General Property 14 years, 9 months ago

    Originally posted by lukis p:
    myoung, even if my propeties go sidewards for 3 years i have still made significant gains, i have locked in for 15 ytrs at 7.4 % I am in for the long haul.

    Lukisp, that is the point i was trying to make(obviously didn’t do it very well). All I’m saying is that if you aquire more property THIS YEAR IMHO you will be…[Read more]

  • myoung replied to the topic boom bust in the forum General Property 14 years, 9 months ago

    Nobleone, believe it if you like but I tend to dismiss articles that are so obviously politically motivated.

    I personally believe the greenback will move upwards in the next couple of years, time will tell I suppose.

  • myoung replied to the topic boom bust in the forum General Property 14 years, 9 months ago

    Lukasp, my point was that property is long term and I believe we wont see the gains sustained that we have seen in recent yrs, if your going to hold property over a tough period I would rather have it making you money(while it is not appreciating much) than funding a -ve geared place waiting several years to see any gains(ie next boom…[Read more]

  • myoung replied to the topic Getting Started in the forum Value Adding 14 years, 9 months ago

    Similiar to Jenwren’s theme, set goals. Work out what you want to achieve as the end goal and then determine what you need to do to achieve it. This should also help you decide what to read attend etc. PS Warning(and apologies to the genuine seminar people out there) a lot of the seminars out there are trying to sell you over priced property in…[Read more]

  • myoung replied to the topic boom bust in the forum General Property 14 years, 9 months ago

    John, reason I say that is IMHO the market has hit a point in the cycle where we will not see a continuing rise like we have, anyone no matter how ignorant could have made money in property in the last 5 yrs, I think we will see a downturn before another price boom, yields are still too low to support another price boom, so unless your being…[Read more]

  • myoung replied to the topic Sharing Tips- in the forum General Property 14 years, 9 months ago

    Tip: never tell an agent your budget as they will only show you properties close to it and prevent you making rediculous offers on higher priced properties. Makes it harder to find or create bargins!

  • myoung replied to the topic Own Home First? in the forum Help Needed! 14 years, 9 months ago

    Another alternative would be to buy the property you want as a PPOR but rent it out and rent yourselves somewhere less expensive and hit the mortgage hard with any surplus funds and move in a few years later.

  • myoung replied to the topic boom bust in the forum General Property 14 years, 9 months ago

    FWIW, we are not seeing potential interest rate rises in the near future(5 yr fixed at 6.95%), this is normally the killing blow that causes the price drop. If the US hikes it’s rates that can cause pressure on our rates though via currency valuations. IMHO the price correction we see will be mainly driven by oversupply pushing rental yields down…[Read more]

  • Firsty, good to see people starting young, I wish I had thought more about this at 22yrs old.

    Rich Dad Poor Dad is worth a read, not as a how to but more a why? It is a fairly inspirational story that will most likely be different from what most Australian’s are taught growing up.

    Steve’s book 0 – 130 properties is a great book(no sucking up…[Read more]

  • If you go +ve cash flow you should be able to use surplus funds to help pay off your PPOR faster. As for interest rates rising in 6 -12mths, maybe maybe not, banks are offering 6.95% over 5 yrs fixed – doesn’t really indicate they are expecting a rise in the short term, and not many of the indicators point to it either. If our $ stays high and…[Read more]

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