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I just returned from an investors club meeting in East Pert tonight. Whatever perception one may have about how dodgy they may or may not be. I was just looking at their strategy. It’s a slow strategy and not for me but it should work. And you can do it yourself.
1. Buy a property.
2. Rent it out (usually ends up being negatively geared)
3. Wait till it goes up in price.
4. Use the equity as a deposit on the next one and the next one.
5. When you have about 1.25 mil in equity, set up a line of credit against the capital growth (average 9%PA)
6. Spend only half of the capital growth using the equity line of credit.
7. Do the same the next year and use the line of credit to pay for the interest on the year before.
8. The property capital growth will exceed your spending of the borrowings.I have a friend (Many conversations start like this) whom was going to buy off the plan, but did a valuation himself and realised the property was overpriced and was put off, but he never bought anything. He kicked himself 3 years later. He said “If I’d just bought anything back then, even if it was overpriced, I would have made enough to buy what I really wanted now…”
I suppose the lesson is this.
Keep your surplus cash and income going into real estate because even the worst deals are better than sticking it in the bank.
The 10K over valuation of the investors club deals are probably just the price you pay for being lazy and not researching.
That same friend of mine also said this
“My dad bought several properties. He bought every one of them in the worst place, at the worst time, for the worst price at that time. He basically screwed everything up that you could screw up. And he is still a millionaire today and doesn’t have to work”
Thankyou all for the information.
Thankyou Dazzling for for your information.
Especially the tip on the VGO (Valuers Generals Office).
Ragards,
Scissors
Thankyou for the information. I shall do some more study before making any moves.
Cheers,
Scissors
Thankyou for your input.
I have spoken to several agents in the area and most agents don’t really have much knowledge on commercial rentals. The one agent whom specialises in the renting out commercial office space in this area is also the agent selling the property selling the office. There is nothing else really available to buy which is similar.
Hi Paul,
I am currently looking at properties in Western Australia and have a few potentials. Some of the properties are larger in value than I can buy myself but the figures may work out. Am looking at bringing in other investors or just doing the bird dog thing.
Email me if your interested in finding properties for you.
Cheers,
Scissors
Hi Jessica,
I’m not 100% sure but I have some ideas. As a signwriter we used to use a heat gun to remove the actual material (in your case the wallpaper itself). And then to remove the adhesive we would use either prepsol or turps. Prepsol is avaulable from your automotive paint supply stores. Maybe you can get it from bunnings. But I think it may be fairly expensive. If it saves you time though it may be money well spent.
cheers,
Scissors
Thankyou everyone for for help. Working on it now!!!
To check who owns the website that information is posted on. Go to a domain search engine
http://www.namescout.com/search.asp
This will tell you whom owns the domain.
http://www.responsetoasicallegations.com.au
Cheers all,
Scissors
