What about setting aside a certain amount for your 'investing' hobby.That way it is your, and not her emotional weight to carry.If other people can set aside 500/month for that motorbike, new car or nights out, why can't you do the same for your hobby?Slowly build the portfolio, and you will find you can do quite a lot with that 500.been with my…[Read more]
I believe that whatever happens – prudent people will do better than those with a high risk strategy.My 2CIn times of stability – higher risk is acceptable.in times of high risk – conservatism rules.
peter-reebok replied to the topic Where do you see property investing in the next ten years in the forum General Property 12 years, 8 months ago
My 2 c worthI believe affordability is too much marketed as a hearts and minds thing. It is always there if you make some sort of sacrifice.As a 20 yr old, I bought my first home, which was a glorified dump, but with 25% deposit, and over the next 10 yrs 'fixed it up' and sold it for 6 times what I paid for it.As a 30 yr old, I raised 6 kids on a…[Read more]
peter-reebok replied to the topic What’s your opinion of the ACA coverage on rent to own in the forum Opinionated! 12 years, 8 months ago
The episode of ACA I saw concentrated on the 'missed payment' eviction of a family, that missed a payment, thereby terminating the contract, and forfeiting the monies paid to date.The problem is that many people see with less options see it as their only option, and are easy prey for anyone who has deliberately setup the terms and conditions so…[Read more]
There is also a belt of suburbs around Ferntree Gully, Boronia, Bayswater and Croydon that are re inventing themselves.
Ferntree Gully has 2 railway stations, and an abundance of shopping centres, and land there is being remarketed with dual occupancy sites, and townhouses where people once said no one would build. They are all rather more…[Read more]
Still newbies at this.
When ? about 2 months ago.
My wife and I have been married 26 years, six kids, and have always had enough, but not quite enough.
Inspiration was desire to have something for us to retire on, and I need some major surgery, that savings can’t pay for.
Owned 50% of our home, so leveraged this, bought 2 units of…[Read more]
If you have done your homework…
The hardest part is making the decision.
Don’t be afraid that the sums add up. Just do it!
If you did all your work and the future doesn’t turn out the way you planned. You still did more than the gunna.
Gunna do this Gunna do that. Didn’t do anything!
Shoulda done that, learns something from mistakes.…[Read more]
My wife and have raised a number of children, and whilst only in our middle forties, are now ’empty nesters’
We had our first holiday in 25 years of marriage last year, and decided that we wanted more.
So On the investment bandwagon, and lets leverage, leverage, and then leverage some more to increase the pool of money working for us.
Before BOGAN, I was a YUPPIE.
Then I had the Jaguar (7 in 5 yrs) a Bentley (1956 Continental GT), Lotus (the affair continues) 3 Esprits, an Elan, and an Eclat.
And yes I did have a ferrari , a 308GT4. It was a disgraceful car.
Before joining the car business full time, I manufactured my own cars for 8 years. That was where I lost all my…[Read more]
I run a new car yard – so really have about 70+ cars daily?
But at home, my driving pleasure is either my 1952 FJ sedan, my 1957 Lotus XI, or my 1998 supercharged statesman.
All up, probably 5k for Fj, 40k for Lotus, and 15k for statesman.
Interestingly enough, the FJ is the best fun!. Black, flames, big chromies, lowered 7 inches,…[Read more]
have always used a family solicitor – been with the family for over 100 yrs. But given that 3 yrs ago one of them ran off with my inheritance, (yeah – they stole it) I used a conveyancer for the last 2.
In general, feedback seems to be that if it is all straightforward – use a conveyancer.
If there are any complications – use a solicitor.
And now I have taken possession!
Settled on Friday, tenants moved in on Saturday – at a rent above rent estimate
Quantity surveyor also had good news for me re depreciation schedules and what I can claim this year, so It is all Systems GO.
Now where was the real estate section of yesterdays paper?
lets find the next one!
Adam – good things happen to those who DO.
Settled this week on the first 2 properties – although scared witless, think I have followed all advice, and covered all the bases.
Settled on the friday, and tenants moved in on Saturday! on 12 month leases at a good rent.
Now if I could fast forward to 10 yrs from now and see how it pans out!
5% Not really a half truth- has been discussed to death on this forum, with many members adding their experiences.
But Point taken.
Asking is ok, demanding is not.
The other party always has a chance to say no! I have been educated by the other party often.
I have found that negotiating from a fixed point is not negotiating.
And I don’t always…[Read more]
Had formal approval of our loan to buy 2 units today – so am celebrating.
Ended up with a negotiating case study.
Rang the agent to enquire about rental management, and ended up negotiating their management fees.
dialogue went like this.
me: Have you done a rental appraisal on these properties?
Agent: yes, we decided between 205 and 210 per week…[Read more]
Any information is useful.
One of my work colleagues bought a 1 br unit in Frankston 5 yrs ago, and can’t even realise the same price as it was purchased for. It has been on the market for 1 yr, with now, 4 agents.
he either bought too high, or is not ‘meeting the market’.
he told me the price, and it doesn’t sound unreasonable, but if he cant…[Read more]
Short list – remember – my opinion, so may not suit you.
Most are available from a library! for free!
You can negotiate anything – Herb Cohen ISBN 0 207 14738 8
Older book, but the wheel is still round, and it has been around for thousands of years.
Getting past No – William Ury ISBN 0 7126 5327 9
Found on a bargain table at a shopping centre…[Read more]
Answering my own posts? is that bad form?
When an observer (ie property reports) say that the area has a 15% PA growth, it is a simple calculation of what has been sold in that suburb. It may have no relevance to what I actually bought, as it only aplies to what was sold.
if only prime condition units or flats are sold tis year, then the amounts…[Read more]
One strategy (as against a tactic) is to remain in constant discussion with the agent.
A major item for action at all times is to be known by the agents where you want to invest. Maybe they will call you when something is about to be listed, rather than after it is listed.
Being a nuisance, but a NICE nuisance is a major negotiating tool. It…[Read more]
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