Hey there B

Yep! I’m currently staring out at a lake covered with snow on a balmy -2 degree day [xx(] (yes, others are commenting on how “warm” it is today.) The great thing up here is that being so close to the US there’s all sorts of financial products (like loans) and getting a 30 year fixed interest loan and a great rate is not hard. There’s…[Read more]

I have to agree with AD

I wouldn’t advocate lowballing as an automatic “do this and you’ll be right”. More a tool to be used selectively when other options aren’t appropriate. Myself, I’d much rather get in on great terms, an early find that hasn’t gotten major publicity yet, great rapport with the vendor first. If you are looking at a property…[Read more]

Thanks for the reccomendation!

I have a feeling Dale’s about to get a few more customers… []

Quasimodo

___________________________________________________________________________
Funny how action has a way of answering all of our fearful questions…
___________________________________________________________________________

quote:
You may want to send out a statement every 3 months, as the UCCC requires one atleast every 6 months. If you send one every 3 months and there is a problem with a statement then it gives you time to correct it within the 6 month period. If you send one only every 6 months there is no room for error.

Hey! Great tip Nathan!

That one’s…[Read more]

To get really pedantic, whatever price a property is bought for is it’s market price, buuuuut…

(putting on a less pedantic hat) it means that it’s unlikely you were ripped off. Bank valuations are usually pretty conservative which in this rare case is a good thing []. As to whther it’s a good deal or not, only you can know, as the real answer…[Read more]

How about giving us some numbers/relevant facts to look at? Cap rates for the area? Median price per square foot in the area Vs your building, proportions tennanted. Etc. Etc.

Quasimodo

___________________________________________________________________________
Funny how action has a way of answering all of our fearful…[Read more]

Sounds great!

So when are we going to hear more about this? Steve? Anyone? Inquiring minds need to know! []

Quasimodo

___________________________________________________________________________
Funny how action has a way of answering all of our fearful questions…
___________________________________________________________________________

Thanks B!

Or should that be thanks “The” B? [] Good to know it’s possible with negotiation (as almost all things seem to be!)

Quasimodo

___________________________________________________________________________
Funny how action has a way of answering all of our fearful…[Read more]

It is.

What you learn in the struggle, will be worth more, in more areas of your life than your first (second and third) million dollars. What’s more, whilst unplanned misfortunes of life can wipe out hard earned financial gains quickly, they can never take the lessons that helped you to create them in the first place. Like the story of the…[Read more]

I concur with AD

Many investors have been caught in the past, investing in properties that were only +ve geared *after* tax. The laws change and suddenly they’re caught paying losses instead of receiving income. Laws change daily much faster than property strategies often can, so the only strategies that make sense to me personally are the ones…[Read more]

Is that because he’s *that* good, because you only need to see him rarely or because you used to live in Melbourne?

Only asking because if it’s the first option, then sign me up! []

Quasimodo

___________________________________________________________________________
Funny how action has a way of answering all of our fearful…[Read more]

You want someone who is coming from the same mindset primarily, who also knows and loves “the game” (in this case actually doing accounting!). To check the mindset I’d casually enquire what they think of mainstream stalwarts such as negative gearing, mutual funds, dollar cost averaging. Then I’d try asking about areas relating to what you want to…[Read more]

If we were all as afraid of inaction as of being conned (ie making a mistake) our results would amaze us. []

Quasimodo

___________________________________________________________________________
Funny how action has a way of answering all of our fearful questions…
___________________________________________________________________________

All fixed!

It looks like it was a problem because I had my bookmark bringing me straight into the forum. If I log out and have my bookmark bring me to the login screen instead it works fine.

The moral of the story? Don’t bookmark straight to the actual forums and everything works fine!…[Read more]

Good point Steve.

It’s nice to hear that not everybody advocates mass lowballing which is a process I’ve long hated exactly because of the lose-lose nature you mentioned. I’m still looking for duplicatable methods of purchasing properties that will both help raise my ROI as well as provide win-win deals for all concerned. Most of what I *have*…[Read more]

IMHO

99.99% of the time financial “advisor”=lemming herder

Be especially wary if they start chalking your losses up to “lack of diversification” or better yet start pulling out phrases like “dollar cost averaging” (based on the wise logic of “it’s plummetting, therefore it MUST be at a good price!”). John Burley, who was one of the leading…[Read more]

Let’s say Steve is even roughly right and the profit at the end of the day is around $6000. Why not just ask $6000 to up and leave the deal quietly on good terms? Less work. Less risk. Same profit. Faster. Everyone wins…

Even if your profit *could* have been higher, I’d be amazed if the profit:time ratio could come anywhere near this,…[Read more]

Seriously though, congratulations on taking what many *could* have taken as a reason to give up and using it as a reason to keep moving forward. Steve was right about one thing… you have shown that you *can* learn. A failure would have given up the moment they were told they weren’t there…[Read more]

Do or do not – there is no try.

*sigh* Man Yoda kicks a$$!… Both “Yoda’s”! []

Quasimodo

___________________________________________________________________________
We are all but half formed images of our true potential.
___________________________________________________________________________

Areas like these are often more open to vendor finance, too as everyone in the area has the same “problem”. Why not try negotiating something along the lines of “I’ll give you full price if you hold 30% at 5%”. You get a lower rate than the banks will give you, fixed, 100% financed (with 70% from the bank) and the owner gets a higher rate than if…[Read more]