Thanks very much for that information, your help is much appreciated. That’s a pretty impressive record and gives me the confidence to deal with them.

Regards

pr

pr

pr

I notice that you have numerous posts on this forum markpatrick, implying that you either find it valuable or at least interesting. There is no compulsion…[Read more]

I’ve got green – does that mean I’m way past turning blue i.e. mouldy?[sick3]

pr

pr

Mikala and KP have stipulated the importance of determining the income you will require on retirement as the critical factor. It is more effective working towards a target or goal than to try and guess what your assets will be worth in the future. That requires assumptions based on past performance which is no indication of future…[Read more]

I know that feeling well but as Koshy says, patience is important. Opportunities present themselves when you know what to look for, and often aren’t obvious unless you do know what it is that you’re looking for. When they present you then have to act.

Have you read Steve’s books? In residential property it is extremely difficult to find an…[Read more]

Chelle has given you one foolproof method

You state that you want to become financially free. What does that actually mean to you and how much PASSIVE income would it take for you to consider yourself financially free?

Once you have determined that you then need to set goals which require you to place a time frame on achieving those…[Read more]

Great goals with which to start out. Many people indicate a desire for financial freedom but that can be very nebulous and mean different things to different people. Do you have a clear idea of what that means to you and what sort of PASSIVE annual income you would require to achieve that? It is important to be specific in order to set…[Read more]

Your request for someone to help you make decisions is a potentially dangerous one in that you will get varying views, advice, opinions and you have no way of knowing the expertise of the people providing that advice. Also, if you act on that advice wihout understanding you are handing control of your financial security to…[Read more]

After they left the REAs found new tennants and we were too naive and ignorant and just accepted the agent’s recommendations for…[Read more]

Looks like you’re steaming along

Lease expiring next May is very close. Need to establish tenant’s genuine desire to exercise any options as well as likelihood of finding new tenant if necessary. As you say, complete your market research.

Just a couple of other questions.
1. Is the pizza shop a franchisee or company owned? If company…[Read more]

I realise that you feel that trusts seem too mcuh for you but you shouldn’t discard them on that basis alone. There may be some scope for what you are trying to achieve.

Discuss the problem with your advisor (accountant/solicitor/investor) and explore the various solutions prior to your final decision.

i really want to pay off my PPOR…[Read more]

This forum obviously serves many purposes, but it’s great to be able to put things into perspective. If nothing else, after suffering a series of frustrations, you can be assured of getting a range of responses that can put a smile on your face.

BTW how is your keyboard? Oh also, if you find things get up your nose you’re better off…[Read more]

Were you specifically looking for commercial property? This is still where the greatest returns are at present.

Questions:
1. What type of commercial property? eg industrial, retail etc
2. What zoning?
3. Who is selling and why?
4. Single or multiple tennants, and tennant history as well as leases and options.

I’m sure that…[Read more]

I’m not evading your question regarding mentors, but they are a bit like “horses for courses”. It’s very much a situation of finding a number of people who are where you would like to be. Then you have to select one or two with whom you relate very well. You need to be able to trust them because you will have to be very open and…[Read more]

It’s interesting that you ask what should you be doing. It is probably more appropriate to ask what others would do and then wait for the range of responses, which may be quite diverse. The responses are all well considered but they are based on individuals’ goals, circumstances and experience which may well be quite…[Read more]

Are you looking for an accountant to provide accounting services or are you looking for someone who can advise/mentor you in your investments?

If you are looking for the latter then an accountant is not necessarily the best person unless they are successful investors. It’s always a good principle to learn from and take…[Read more]

I went to one of their seminars about 6 or 7 years ago. They seemed knowledgeable and plausible but their main thrust was negatively gearing properties that were valued at higher than bank valuations. The explanation was that this would accelerate equity and therefore the ability to repeat the process many times over a relatively shorter…[Read more]

The residential market operates in a spectrum but your example is by no means an extreme. In fact not uncommon.

The marketing of properties involving depreciation and “tax benefits” from negative gearing is of concern. The aim of investing is to make money, not to lose it, even if up to half of those losses are…[Read more]

As a general rule of thumb property is based on demand, and with commercial property, as you have indicated this is determined by the rental yield and the security of that yield. In other words a good tenant with a good business and a good revenue. With doctors etc there, is it near a hospital? If so then they are more likely to be…[Read more]

Have looked at car spaces and found that they claim around 8% return. But that is gross, very gross[biggrin].
After costs etc they were not CF+. Also they are very small areas that can’t be adapted to anything else.

Storage units can be ok but just like every other type of investment they require due diligence of the individual…[Read more]

With what you’ve already achieved why would you need inspiration?

Inspiration comes from within and then that drives motivation and action. Sometimes encouragement and support may help but if you don’t generate your own inspiration you will be limiting yourself to what others can do for you rather than what you can do for yourself. In…[Read more]

The main difference between investing in smaller towns and larger ones is in the risk management. It is possible to go without tenants in both scenarios and the likelihood will vary on the specific individual circumstances of each area. Due diligence will assist in that decision.

Population is not always a deciding factor on where to…[Read more]

My plan being geared towards CF+ IP’s these looked worth…[Read more]

Congratulations on starting the self education process.

What historical/current data points do you use to identify a positively geared residential purchase … and where can one source this data?

The question everyone asks when starting out is where to find CF+ properties. These days in residential investments they are…[Read more]

Unfortunately people on this forum can give only their own views and not those of the average investor. It is hard to know what the average investor is, and even harder to determine how (s)he may think either collectively or individually.

I am working on the assumption that it’s value is a function of it’s return.

I think that…[Read more]

They do have things in common though. Amongst other things they have learnt through failures. They…[Read more]

I can always tell when a boom has happened [biggrin].

As others have said, money can be made outside of boom times in both property and shares, one just simply has to alter the strategy to suit the market.

pr

Kiyosaki is just one author expressing his view. There are many other authors of varying success with differing views. There is no one correct or best way to do things otherwise we would all be doing them. Surely what matters is what works for the individual. I know of people who have either never been involved in network marketing…[Read more]

I am looking at joining a certain network marketing company. Unfortunately Amway have given the industry such a bad name, which makes makes life harder for some of the newer ‘better’ ones.

What determines “better”? Despite individual opinions and experiences, it is hard to argue with a business model such as Amway…[Read more]

You say you are not a salesman. Actually you are, you sell your time to your employer. Just another way of looking at things.

When you say you can’t do things is that…[Read more]

If this person wasn’t a friend what would you do?

Friend or not it is reasonable to have a fair and equitable outcome for both parties. Your…[Read more]

I couldn’t agree more with you that there is no right or wrong here or even what’s best. It still begs the question though, as to what is education and are people without degrees less educated? If a limited vocabulary and grammatical errors are a sign then we’re in real trouble because the media and our political leaders often make…[Read more]

Kay, you may be right about Kiyosaki’s influence and that pre-school kids would be learning to sell counting blocks to each other; however, selling and counting are very important basic skills that all of us rely on. Also, there is an assumption that people who have passive income have no other wothwhile pursuits…[Read more]

Of course if you venture outside the area of your degree then it may have little significance. At the risk of provoking an outcry on this forum, I believe that…[Read more]

Yes, good thinking. Probably our most important asset is our health while time is our most important “commodity”. The time problem is a viscoius cycle because most people are programmed for active income so in order to “survive” and achieve more income people tend to spend more time chasing that income. Then time available for other…[Read more]

Great that you want to gather other perspectives but your comment about full time is interesting. What is full time?

When I was building my private practice I was working 80-100 hours per week (crazy I know) – is that full time or double time or what? Isn’t it priorities that determine the quality and the quantity of time that…[Read more]

Have you determined what it is that you actually want to be, do, and have in life? Might sound a bit philosophical but it is really important in that it provides direction and then from that come plans/goals etc.

Seems like you enjoy your uni course, which sounds fascinating. Why would you want to give this up?

My background is a…[Read more]

Your motives for saying what you have said are certainly well intentioned and to be applauded. There is however, a difference between amassing wealth and being rich. The latter refers to a state rather than simply accumulation of assets/money. It is considered by many as a state of mind, happiness/contentedness etc that comes with having…[Read more]

I understand the reasons people act the way they do when the subject of money comes up. Usually those appearing to do well are labelled materialistic. However, when you delve into their perception of materialism it appears to be anyone who has more than they do, and so it is a relative term.

I wonder why you shy away from the truth. Why…[Read more]

There are many factors that will influence the tax benefits if any and as such may be unpredictable or unforseen. e.g. losing one’s taxable income (job), or reduction in income etc.

In Steve’s templates the sums are done prior to tax considerations, and for me if I am evaluating a property I would like it to be CF+ before tax. Then,…[Read more]

Steve has a number of templates that can be used to do the sums. The templates are available on this site. In addition there is Investment Detective software that does a similar thing.

Good luck

pr

Not doing anything with the money at the moment might be called masterful inactivity [biggrin] rather than just not doing anything. At the moment there are many who are saying that cash is king.

Are you looking primarily for cashflow positive investment or for capital gain?

Your money is working well for you in your UK property…[Read more]

It’s great that you’re looking to learn and accessing some of the resources that are going to help you. With regards your comment about finding cashflow positive investments it is not that straight-forward.

When you read into Steve’s books a little more and look around this forum you will discover that these days it’s extremely rare to…[Read more]

Like Geoff I found “You Inc” a good book and Junker’s advice is very sound. Knowing where you want to go, seeing yourself there and having a plan are critical. Above all, find yourself a mentor who is successful in the way that you would like to be and learn from her/him. In fact it may open doors to other businesses as it did for me,…[Read more]

Thanks for clarifying my confusion. I obviously misunderstood your comment earlier where you stated that not all low doc loans are higher.

Cheers

pr

I can see how a low doc loan at one institution may be “cheaper” than a standard loan at another institution but please correct me if I’m wrong, how can a low doc loan be cheaper than a standard loan at any given institution?

Cheers

pr

Dazzling is right on the ball here. If it is at all possible to have all your loans with the one institution then this demonstrates loyalty and this then allows leverage. The ability to leverage is very important in business.

Low doc loans bear a higher interest and if your loans are geared positive (just) then will they remain…[Read more]