Forum Replies Created
Ok thats good to know
Monopoly, my favourite game
Don an Liz,
Good post , I agree with what you are saying oppertunitys are always out there if you are looking for them.
Monopoly, my favourite game
Westan
I didn’t say buy top end of the market, I said buy in good areas.
A good investor that does his/her home work can still buy good property in good areas at below market value.POINT 1
I said buy property that is running neutral or slightly either way, not property that gives you out of pocket expenses for years.I have never and will never buy property that costs me money continuely for years on end and certainly would not give anyone that advice.
POINT 2
I wouln’t buy property that costs me so I would not need to ride it of againt aussie income.
POINT 3
Growth markets , you know what I think is going to be a growth market . However good property in good areas will always be good investments.Sure there are always going to be good growth areas and areas that don’t go up for years but unless you have a crystal ball nobody really knows what is going to happen in the market. This is the reason I will never invest in 1 horse towns or areas I think are in bad economic state. This does not mean you can’t make money in these areas I know to well that you can I personally have seen huge oppertunitys in little country towns however it goes against my investing model and I would prefer not to take these risks. High risk high returns or could also mean high loses.
POINT 4
Good property in good areas has always out run inflation over long periods of time .
POINT 5
The dollar is set to fall , once again were is the crystal ball. When investing over seas this is always a risk but it could also be a good reward.
POINT 6
What if the market doesn’t drop . Look markets are always moving , if you buy good propertys in good areas you will never have to worry about this to much so long as it is a long term investment.For people that are after the quick buck this may not be a good investment but for people that want good investments you can’t go wrong (prodominantly)
POINT 7
8 to 10 years before you break even. What does that mean? Do you have a crstal ball?
POINT 8
Use your money elsewere. Well there is always a better investment . Would I invest in NZ not at the moment but if I was I would only invest in good property in good areas at this time in the cycle, not that I have a crstal ball.Westan why do you think I am attacking you?
I am just pointing out my style of investing.
You know that I don’t like property that is not what I call a solid investment.
This is just my thoughts and my style of investing.
I have never and will never chase the quick buck, I look for good stong investments and will always do so.
I know a little about how you started out and completely understand why you invest the way you do and it has been very succesful for you.
I’m not saying your or my way are right or wrong just different and with different styles comes different rules to be successful.Kind regards Rick[drummer]
Monopoly, my favourite game
Jenwren , good point . I think it boils down to affordabilty some property in Sydney and melboune have hit an all time low as far as affordability is concerned, but this is dependent on suberb to suberb , there are still good growth in strong areas . Areas were people have money, own busness or are well off.
Monopoly, my favourite game
If the market in NZ is slowing and you buy propertys in good locations that are running nuetral or slightly ethier way , surely there is going to be capital growth in the future.
Melbourne property is slowing down and pulling back , BUT if you look at strong areas e.g. Essendon, Brighten , Toorak, and other good areas they are still strong markets and are showing no sign of dropping in value. This leads me to belive that good property is always going to do well no matter what. If I was putting my money into NZ I would not be buying in one horse towns , but I would certainly buy in good areas.
Just my 2 bob
Monopoly, my favourite game
I hope you were at the rally I was I came from the airport directly to the rally after a 30 hour flight
Monopoly, my favourite game
I would structure it in trusts , do 5 or so in each trust, keep adding trusts as needed as you will soon run out of fianace each time you set up a new trust it is a new identity so you can borrow all over again however you will still have to personally go garentor for them.
Also by opening a new trust every 5 propertys you are now asset protecting yourself whitch will be important if you are going to do so many deals.Cheers Rick
Monopoly, my favourite game
McHenrey,
If you can do 50 deals in 1 year you are a legend , great to aim high . I am also lookig at doing some of these deals but my focus is 5 for next year then 10 every year after that. We sould have a chat.
Kind regards Rick
Monopoly, my favourite game
Welcome back to the main land Westan, hope the move all goes well.
Monopoly, my favourite game
Good on you Martin that is the spirit, I agree better to act than die wondering. Hope you have great success from taking the oppertunites and doing something, I have bought propertys in the past that have turned out to be duds but if I didn’t do anything ever time I thought about the risk, I would not be in the position I am in today.
Cheers Rick
Monopoly, my favourite game
Aussieland
It depends on how you do the structure , lets say you buy the property in your own name . You would have to pay tax in the USA then you get a tax credit for the tax that you have paid, and would only have to make the differance up in AUS at you normal tax rate.
Kind regards Rick
Monopoly, my favourite game
Lol , no but thanks for the offer
Monopoly, my favourite game
Exactly , I couldn’t agree more
Monopoly, my favourite game
Hi Dr.X
I spoke to you a long time ago about the market in Up state new york, You said back then you were having problems . What do you think you will do with your property ?
Monopoly, my favourite game
Bardon, is this your personal experiance . I have heard some bad storys but this seems to be qutie bad. Did you go there and buy it yourself ? did you rely on other peoples judgement? does this story have a good side to it?
Kind regards Rick
Monopoly, my favourite game
I think it is quite easy to buy homes under value in the USA it just take a bit of homework, it is a lot easier than buying propertys under valued in aus.
I do a agree that to use a local is a good way to do so.Monopoly, my favourite game
Bardon and Piggy
Thank you for your posts , I would still like to here from other people .
Kind regards Rick
Monopoly, my favourite game
Besides the couple of people making money from other people , does anyone have any good storys about the amout of cash flow they are making from up state new york.
Plaese don’t answer if you are bird dogging or flipping or arrangeing finance or getting kick backs, I would like to hear from average investors.
I spoke directly with Steve on this subject and his comments were interesting.Kind regards Rick
Monopoly, my favourite game
I totally agree with you DR X
Monopoly, my favourite game
What a read , give me more I love it
Monopoly, my favourite game
