What I look at is the long term prospects of a town. If I can buy a property in a small to medium size town and positively gear it from the start, I ask myself what’s the down side of this deal? Worst case scenerio could be a few percent in Capital Growth per year over the next ten years. If so, I still have someone paying the property off(Money…[Read more]

Foo,

Check out:

https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=42

Cheers for that. It’s the way I imagined going, but most of the books I’ve seen came at it from the angle that you were going to use your house as the asset.

Gday Belladonna, the hardest part l found was at the start all the people that tell you “NO” Push through them and belive in yourself.You can make it happen becouse no one else is going to do it for you Mitch

Hi Bella, I am also a newbie to this exciting arena. After learning that Debt is not a scary thing, it opened up the possiblity of having all the things I dream of. Im learning from everyone’s input and experience all the time to be able to live the life that others scoff at. It astounds me that the vast majority are, it seems afraid or perhaps,…[Read more]

Don’t worry! you are never too young or too old to start! I am just almost 24 now and I started (with the help of my parents) at around 20. It is a great learning experiance! [] The earlier you start, the earlier you can retire..

remember…

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Sorry, to continue on… I believe that the best way to property investing is to build a business that will give you the means to buy these positive cash flow property that you want to buy. Cause if you want to just save with the money that you earn at your average day job to go towards the property that you want to buy, I don’t think that it…[Read more]

Hi Mike,

I am currently in the process of importing some cardboard and some plastics from vietnam. Basically, I can import anything, just as long as I can find a buyer and a seller. What do you need? [] You can be sure that I will try to find it for you at a competative price… []

Cheers,
Angie

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ULTIMATE GOAL
To build a business (weekend/spare time importing business) that produces a profit of at least $2000 per week so that I can quit my day job.

To buy and hold positive cash flow property with a passive income of at least $2000 per week.

SHORT TERM GOAL (3 – 6 months)
Fix up my ‘potential’ positive cash flow property so that it is…[Read more]

It seems to me that the main focus of this site is property investment for “Positive Cashflow” and I guess that’s what most people here intersted in. As far as land investment, there is a time and a place for it. If you know the land value will increase over a given time and you have factored in all your holding costs, then perhaps you should go…[Read more]

Thanks for the reply Steve. Queensland is a bit far away for me at this point. Like you said you have to be able to get in the car and go have a look! Get to know the area. I have done this with close to a dozen areas in Victoria now and done the research on the criteria required. Some have come up to the mark and others, which I originally though…[Read more]

[]

Yep, great advice! I know someone who had that problem once. Thanks for reminding me…

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I was wondering if I found my own tenant (ie. the real estate didn’t find it for me) do I still have to pay the one month letting fee still to the agent as stated in the contract? If not, then I could give that to the good tenant as an incentive to stay and bring in her friends….

I would be very hesitant to finding your own tenant if you do…[Read more]

Thanks Steve and Sooshie for the great advice!

I would also like to thank Tony for offering to take the property off my hands, but I think that this should be a great learning experiance for me.. If I can make this work, then I can make anything work right? What doesn’t kill you can only make you stronger!

I changed real estate agents when I…[Read more]

I think, but not too sure, as I am still a newbie, when the banks consider lending you money, they work out your total income (income from job, rent, and all else) and then work out all your debts (credit cards, car loans, mortgages, etc) and then they work out how much money you have left over each week. They use a percentage of this figure…[Read more]

Good question Nathan! I have often wondered how far a single bank will go or if you have to end with numerous “Financial Institutions” to bank roll all the properties. And as you suggest, what is their basis for all the lending? Is it as simple as once the property is considered as cashflow positive, you can move onto the next one?

Cheers,
Canuck

I talked to some locals and sourced three builders with good references. Well known for good quality unit developments at a realistic cost! Before I talked to the locals, I was given the name of a builder by someone that doesn’t live in the area and it turned out they have a reputation for being the most expensive in the area. Matthew, your…[Read more]

Thanks for that PaulOS.

Also, another thing… the more that you put out in deposit, the more income you have and so the more you get taxed! That’s like a double whammy! You don’t get the tax deduction and you taxed extra for the extra income!

Tomorrow, you might wish you started today.

Tough to do. Unless the local council will give it you, it could be very hard to find. With the new privacy act in place most council’s are reluctant to give any information out. There is a database called LocalWise that Real Estate Agents use to source prospective owners/clients. Maybe you could try a local agent for some assistance.
Good luck!

Canuck

Thanks for the feedback. Good to see all points of view.
I agree that pre-selling is critical to the success of the financial backing. I do have interest in three of the units already, so this should help greatly. I have had one piece of advice that suggested getting these interested parties to sign a “Contract Note” on the units. This commits…[Read more]