Welcome, and nice to see an open mind.
Before I start, also have a chat to Dazzling, our accomplished commercial investor – he may have some valuable insights about ideas you haven’t thought of.
The answer to all of your questions can be put in at least two ways:
1) It depends; and
2) That’s subject to negotiation.
Flipping often depends on…[Read more]
I’d guess you’re new to the game. Essentially, in residential real estate there are two possible goals, often mutually exclusive. (Not always).
The first is what most investors do – buy and hope that when they sell, the profits plus the tax breaks they have received will more than cover the losses.
The other way is make sure there are…[Read more]
My thought is that if your firend was making 10% per half year on $200,000 cash, he or she would have been better off to leverage that investment and invest in more of the same. At only 50% leverage that would be $80k per year (less 13k interest) – enough to sit pretty on, really. Why buy a house with an asset like that??
What town or suburb is your target in? Don’t give away too much info, but ask if anyone else is renting in the area and can give you some resources to check out the offering.
Also, do the figures and be clear as to why you are doing this. Does the property fit into your strategy? If you haven’t got a strategy, get one of those first.
Here’s a piece of late breaking advice. Have the names of your property manager, the vendor and your real estate agent ready. Some banks which are otherwise prepared to do business with Australians (and there are few enough around!) will not touch properties managed by certain folks or bought from certain folks.
This is because some managers…[Read more]
As you probably don’t like baked beans much anyway and can’t move for 2 years, what’s the rush?
After a week, go back to the agent with your $1.4m offer, let him know that it remains open and you remain ready to talk. Then don’t do anything.
If he’s half decent as an agent, and they get another offer, he’ll come back to you to see if…[Read more]
My advice is: Be aware of the risks.
If a deal goes sour, your name will be attached.
If you are dealing in property, you may require a licence (don’t treat this casually, you need to know what you are doing).
Finally, if you find a great deal, why would you pass it on instead of trying to raise the capital to do the deal yourself? If it’s…[Read more]
Many people are buying in Sydeny, but the investors are nearly all CG oriented, not CF oriented. If you buy now for 4% then you’ll have to double your rent to get to 8%. I don’t see house prices halving or rents doubling in the short term. Also, if there is a housing shortage then house prices will continue to rise, leaving yields in the…[Read more]
Originally posted by resiwealth:
Wildlywealthywomen has proven to be a great success already in Australia however as Josie and Suzie explained to me so many people self sobatage themselves in building wealth because they fail to change their fundermental root system.There can’t be two groups by the same name, surely, and Wildly Wealthy Women and…[Read more]
This article was hilarious. First it said rents were too high. Then it noted that there wasn’t enough public housing so (implication) the burden falls on investors. So the tenants association proposes what? To end negative gearing! While those who know me know that I’m no fan of neg gearing, what is going to be achieved by killing off further…[Read more]
Originally posted by markdangerous
Quiggles i agree with you for the most part, especially about asking better questions, however i always thought that the truth is an absolute defense against charges of demanation. If someone responded with facts, i dont see a problem with that either ethically or legally. But what would i know.
On another…[Read more]
Originally posted by markdangerous:
Whats wrong with asking about people on these forums? Especially people who overtly or subtly promote their services here?
Defamation? I dont see how that is a problem. Please explain.
It’s pretty simple. Suppose you were offering a service, let’s say selling computers and someone on a message board…[Read more]
Originally posted by markpatrick:
I can`t help but think that Steve and other seminar/strategy salesman at the end of the day would earn thier money in property if they could, since they can`t they play the amway/money streams game.
No malice in my opinion but it`s what I believe to be fact.
I think you are ignoring a very sensible possibility.…[Read more]
At those prices, and given the returns being received in Sydney, I hope your investors can claim tax deductions for overseas rental losses.
I wonder if proximity gets its name from being under the airport flight path – er, I mean, close to the convenience of Mascot?
I think you were right to raise concerns and also right to post you decision and conclusions. The same info will not lead to the same conclusions for everyone, I hasten to add.
I think the point that some may have missed is that Steve and Dave have a brand name, a value, that they can’t really afford to compromise in the pursuit of a…[Read more]
I think Dr X meant “he is” to mean he is trustworthy, not the reverse.
You should not seek potential negative comments on a forum like this anyway, it is not appropriate and anyone posting bad stuff may be defaming their subject. A better way may be to ask folks who have bought what their expectations were, how things worked out, what their…[Read more]
It may not sound that good, but I think that having someone make you state your goals and hold you accountable – perhaps brutally accountable – for their achievement or failure may well focus the minds of many. I have always had goals, but did not start out methodically working towards them. This could have really helped.
Of course, these days…[Read more]
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