PropertyInvesting.com | Nathan1 | Activity

Nathan1 replied to the topic Overseas investors in the forum The Treasure Chest

Wed, 05 Feb 2003 00:35:51 +0000

I am also interested in the whole overseas thing, at least so I know what my options are. My business partner convinced me to hold off on the investing just for a few months while we’re building our business, as I am the programmer creating the system that is our business model, and I need to focus. (his words). Our business is going to fund both…[Read more]

Nathan1 replied to the topic low-priced properties vs regular-priced properties in the forum No Subject

Wed, 22 Jan 2003 04:21:06 +0000

ah, cool, thanks for clearing that up!

email: g e n e r a l g h e r k i n @ y a h o o . c o m
phone: 0405 411 098

Nathan1 replied to the topic wraps vs lease options in the forum The Treasure Chest

Tue, 21 Jan 2003 07:40:21 +0000

good points. I don’t mind if the tenant walks away because it means I’ve collected above-market rent for the period, which suits me just fine. What do you mean by “it is also easier to withdraw any increase in equity”?

email: g e n e r a l g h e r k i n @ y a h o o . c o m
phone: 0405 411 098

Nathan1 replied to the topic wraps in canberra in the forum The Treasure Chest

Tue, 21 Jan 2003 07:18:56 +0000

ouch.. i think i heard about that 99 year lease thing… how does it work? are there any easy loopholes around it?

email: g e n e r a l g h e r k i n @ y a h o o . c o m
phone: 0405 411 098

Nathan1 replied to the topic New to Property in the forum The Treasure Chest

Tue, 21 Jan 2003 02:29:05 +0000

Oh, I forgot to mention, I’m 24 years old… hoping to get my first property shortly!

email: g e n e r a l g h e r k i n @ y a h o o . c o m
phone: 0405 411 098

Nathan1 replied to the topic New to Property in the forum The Treasure Chest

Tue, 21 Jan 2003 02:26:26 +0000

Hi Bella, I’m fairly new here too (less than a month) and I’ve been using my time so far to research and learn about how the property investment game is played. I haven’t bought my first property yet (waiting for a couple of small hitches to be resolved first) but I have learned a lot so far. First of all, you’ll find that pretty much everyone who…[Read more]

Nathan1 replied to the topic Some tips on getting started? in the forum The Treasure Chest

Fri, 10 Jan 2003 11:43:23 +0000

Sooshie, thanks for the advice. I actually do have 1 or 2 people I can think of who might be able to help me out if worst comes to worst.

email: g e n e r a l g h e r k i n @ y a h o o . c o m
phone: 0405 411 098

Nathan1 replied to the topic Real-world positive cashflow test case, I think! in the forum The Treasure Chest

Fri, 10 Jan 2003 11:34:13 +0000

Oh, I forgot to ask. Since property management costs are based on the rent collected, if I set up a lease option deal where the rent is, say, $100 above market rent because it’s being credited to the final strike price, so for example, if normal rent is $120 and I’m charging $220pw with $100pw credited to the purchase, is the 6-8% property…[Read more]

Nathan1 replied to the topic yield clarification in the forum No Subject

Fri, 10 Jan 2003 10:44:08 +0000

Ah, right, thanks. That certainly makes sense, considering the cash on cash. I also am after immediate cashflow, rather than very long term money that may as well be a dream for how real it seems.

email: g e n e r a l g h e r k i n @ y a h o o . c o m
phone: 0405 411 098

Nathan1 replied to the topic Real-world positive cashflow test case, I think! in the forum The Treasure Chest

Fri, 10 Jan 2003 08:14:35 +0000

yep that does, thanks

email: g e n e r a l g h e r k i n @ y a h o o . c o m
phone: 0405 411 098

Nathan1 replied to the topic Real-world positive cashflow test case, I think! in the forum No Subject

Fri, 10 Jan 2003 06:58:06 +0000

ah, cool. thanks! so, when you say allowing for vacancies, I assume you are mainly referring to the time between when I make my first mortgage payment and when the tenant comes on board?

Edited by – generalgherkin@yahoo.com on 10/01/2003 3:59:58 PM

Nathan1 replied to the topic Real-world positive cashflow test case, I think! in the forum The Treasure Chest

Fri, 10 Jan 2003 04:49:26 +0000

Hi Steve, thanks for taking a look. I think one big thing for me is it showed the difference between the normal way people would do it and lose money, and a lesser-known way of doing it (i.e. lease option) and make money.

Question, what is B&H? Also, with rental management, are you simply talking about maintenance and stuff? How would I work out…[Read more]

Nathan1 replied to the topic questions in the forum The Treasure Chest

Thu, 09 Jan 2003 22:51:55 +0000

ah, thanks. It’s always confusing when you see a post using unexplained jargon and you have no idea what they’re talking about.

email: g e n e r a l g h e r k i n @ y a h o o . c o m
phone: 0405 411 098

Nathan1 replied to the topic questions in the forum The Treasure Chest

Thu, 09 Jan 2003 11:38:14 +0000

The context was from this post:
http://mastermindforum.com/phorum/read.php3?f=2&i=24273&t=24273

quote from the message: “I have a couple that won a HUD bid, but can not qualify for a loan. The deal is that we’ll do a double closing, I’ll get the title, and then “sell” to them on a lease/option.”

email: g e n e r a l g h e r k i n @ y a h o o .…[Read more]

Nathan1 replied to the topic Some tips on getting started? in the forum The Treasure Chest

Thu, 09 Jan 2003 11:35:35 +0000

AD, I’d love to have a chat whenever is good for you. My number is as per my signature, or I can call you if you prefer. I only have internet at work at the moment, unfortunately, and it’s heavily firewalled, so I can’t chat online yet. Not until mid-february once I move house and can get my broadband connection on.

email: g e n e r a l g h e r…[Read more]

Nathan1 replied to the topic another question... in the forum The Treasure Chest

Thu, 09 Jan 2003 11:30:23 +0000

I have also lately been making sure I say not, “why can’t i?”, but “how can i?”. As a result, I’ve now gotten in contact with a mortgage broker (David and Hilary O’brien) and the wheels are now turning to try and see what I can qualify for. I’m also learning about wraps and how the contracts work and stuff like that, so hopefully it’s full steam…[Read more]

Nathan1 replied to the topic two more questions: in the forum The Treasure Chest

Thu, 09 Jan 2003 11:21:22 +0000

ok, so how am getting a return on my investment if I’m in the negative as far as my cashflow is concerned?

email: g e n e r a l g h e r k i n @ y a h o o . c o m
phone: 0405 411 098

Nathan1 replied to the topic contracts in the forum The Treasure Chest

Thu, 09 Jan 2003 06:28:45 +0000

$495 for the NSW contract.. ouch! But hey, it’s an investment in my future, I suppose, especialliy since the alternative, paying 1000’s in lawyer fees, is a lot more expensive They didn’t have a contract for the ACT yet… which is where I live so I guess I should focus my initial efforts in the Queanbeyan area, which is close enough to virtually…[Read more]

Nathan1 replied to the topic two more questions: in the forum The Treasure Chest

Thu, 09 Jan 2003 06:24:36 +0000

Thanks Dan. Actually, although I have little understanding of the difference between a P&I loan and an interest-only loan, I contacted a mortgage broker today to see what it will take to help me make the first step into getting my first investment property, so I guess I’m going to learn all about loans very shortly!

Question: What is…[Read more]

Nathan1 replied to the topic Investment Selection Criteria in the forum The Treasure Chest

Thu, 09 Jan 2003 04:25:24 +0000

Ok, My three main goals for 2003 (to be revised once I get a better understanding of the property game and what the limitations are), are:

* Eliminate my credit card, computer and car loans
* Acquire my first 5 (or more) investment properties, and all must have positive cashflow from day 1
* Finish writing my website content management system…[Read more]

Nathan1 replied to the topic another question... in the forum The Treasure Chest

Thu, 09 Jan 2003 00:12:20 +0000

Thanks Tim, that’s a great idea, I’ll look into it.

email: g e n e r a l g h e r k i n @ y a h o o . c o m
phone: 0405 411 098

Nathan1 replied to the topic questions in the forum The Treasure Chest

Wed, 08 Jan 2003 12:28:44 +0000

Thanks for the answers, Rossco!

Edited by – generalgherkin@yahoo.com on 09/01/2003 12:24:59 PM

Nathan1 replied to the topic Some tips on getting started? in the forum The Treasure Chest

Wed, 08 Jan 2003 10:17:55 +0000

Louise:
thanks actually I guess it’s just a case of how content you are. I’m just simply not happy spending 60+ hours per week at work when I could be spending all my time snowboarding the world, relaxing in my mountain-top luxury lodge and running my own computer game development company That’s my motivation/goal.

AD:
Yep, gotta get those…[Read more]

Nathan1 replied to the topic Some tips on getting started? in the forum The Treasure Chest

Wed, 08 Jan 2003 10:06:09 +0000

Hi Steve, yep I hear you. of course, i work long hours at my job during the week so i’m trying to squeez in whatever time I have to do this. last night’s effort was just a poke of my toe in the water! I intend to spend a decent amount of time on the weekend getting into this. Of course, I’m still spending whatever time I can spare after work researching.

Nathan1 replied to the topic Some tips on getting started? in the forum The Treasure Chest

Wed, 08 Jan 2003 03:48:11 +0000

Thanks Hilary! I’ll give him a call

Nathan1 replied to the topic Some tips on getting started? in the forum The Treasure Chest

Wed, 08 Jan 2003 01:26:43 +0000

Hi Tara, thanks for the tips. My main concern is that I don’t think I can get a loan right now, as I have credit card I’m paying off that got cancelled last year after I was unable to pay the repayments for a while during a period of unemployment (actually I was self employed but my workload disappeared and eventually I had to go and find a job,…[Read more]

Nathan1 replied to the topic Some tips on getting started? in the forum The Treasure Chest

Tue, 07 Jan 2003 12:43:37 +0000

no enthusiasm stifling here, I just want to make sure I understand wht I’m doing! Thanks for taking a look at what I did, though. The loan interest rate on the allhomes site was about 6.7% I think, and me, not knowing the difference between a P&I loan and an interest only loan, chose the lower of the two. I assume the P&I loan simply means a loan…[Read more]

Nathan1 replied to the topic Some tips on getting started? in the forum The Treasure Chest

Tue, 07 Jan 2003 11:22:33 +0000

Oh, also, two other questions:

1. I am interested in getting my own home but obviously I do not have a deposit. What do you think of the idea of me buying my own home via a lease option, thereby getting experience as the tenant side of the deal, plus seeing how a deal is worked out?

2. In a lease option, according to some material I’ve been…[Read more]

Nathan1 replied to the topic Some tips on getting started? in the forum The Treasure Chest

Tue, 07 Jan 2003 10:59:26 +0000

Ok, I did a little bit of investigating by using allhomes.com.au which is a really good resource for the ACT and surrounding areas. It has past sales information for practically every property in the ACT for the last 12 years plus growth charts, etc.

I made a spreadsheet to do some calculating (Excel 2000) and have uploaded it to http://www.hep10.…[Read more]

Nathan1 replied to the topic Some tips on getting started? in the forum The Treasure Chest

Tue, 07 Jan 2003 02:23:54 +0000

thanks for the advice / homework! I’ll get right on it I’m actually at work right now, so it’ll probably be tonight or tomorrow… but stay tuned anyway As for the tape, I already plan on buying it as soon as I get my pay, ugh.. next Thursday, so long to wait!! If only I didn’t have such a tight budget at the moment