Hi,Few quick points:- Going low doc doesn't make it easier to build down the track. Just go through a bank and get a standard loan to purchase the land. You'll get 80% lend on this easy without LMI. Down the track if your bank/broker is worth their salt, you'll just get another loan for the construction costs. Going low doc will just mean higher…[Read more]
Hey,It really depends on the lender. The bank is asking you what you're going to do with the money as they don't want you investing it in something really risky. To give an example, you might be using that money as your equity in a highly speculative industrial subdivision project. If that project went sour, you could easily owe the bank more than…[Read more]
I think Robert Kiyosaki offers wannabe motivational speakers the boost of his brand name in return for profits. I believe Dolf de Roos then realised he had built up his own name enough through the rich dad series, & so severed the ties. This would explain why he’s doing something with Trump.
I was just browsing around there and it’s got an ok summary of the process there.
Oh and by the way Monopoly – my mentors arn’t in the same boat – most of them are very rich. I was saying I have few friends who have similar goals as well, who i’ll probably work with to go where I want to go.
Sorry to the pessimest J.T Reed, but after reading all of his Dolf De Roos article, I can’t help but laugh.
Firstly, I love how he says “there isn’t much money in property management” – small time there’s about a job + a business profit, but there are big companies doing it creatively that are making truckloads.
Secondly about how hard he rekons…[Read more]
You may want to read the book “Building Wealth” by Russ Whitney – he talks in there in a fair bit of detail if I remember about how you can make quite a fair bit of money out of renovating. It’s a US law-based book, so I dunno bout some of the specific legalities.
But anyway, one of the things he talks about in the book is how where he is, you…[Read more]
I was working in a real estate agency recently and I can say that basically most sellers have got way too big expectations, compared to buyers, and the market is slowing.
A lot of properties are stagnant atm and they’re not moving very much. But mind you, working in RE for a bit teaches u a lot about the difference between good and bad…[Read more]
It probably should, but i’m sure if the banks there are willing to allow you to lock in your interest rate for 30 years, they’ve figured out the consequences of it. I don’t think it’ll affect the rates the banks charge
I agree with Monopoly. You can’t just use the yield. I know of a few units that have quite an alrite yield that would be +ive geared that way, but they can have some $4.5k body corp that means you’re actually dipping into ur pocket to keep it.
You have to do a full analysis of all the costs really to make an informed decision
Next 2 years – Work & learn the real estate industry & selling
The 4 years after that – buy & add value to property to retire at the end of this period
The 5 years after that – Invest big time to create my real retirement income (100’s thousands/yr)
After that – See the world & do motivational speaking
Oh yeah, and i’m 19 so that means i’ll be…[Read more]
Some advice I once got is that 95% of people do the same thing, so if you want to succeed, you just have to be the 5% that do the opposite.
I’d say that a lot of investors dismiss small towns from the start because in their belief systems, small towns are risky. Saying that, you really should take a good look at all the aspects of your…[Read more]
One thing I rekon you could do maybe in the future is make a computer program to invest in property. That way you wouldn’t be limited to your own time to analyse deals & do the work.
It could tap into numerous abs & other data on the internet to identify the most likely growth areas, while also accessing numerous real estate data to put together…[Read more]
I still don’t see how you equate giving easter eggs to one of your tenants with tenant loyalty. I think if a tenant was thinking of moving out, they wouldn’t say “but my current landlord gives me an easter egg at easter, so I think i’ll stay here just for him”.
I think you should use these sort of gestures when you can see they will have a real…[Read more]
I have a friend who went to one of Robert Kiyosaki’s 3-day seminars that cost around 6k or so. When he came back he told me that a lot of the stuff they learnt was just what was in his books – which cost around $25 each [glum2]
Mind you though, he went on to start a business which is doing extreemly well atm. Maybe it’s like a placebo – some…[Read more]
I think if you happen to get any more gut feelings as to where to invest – you should go for it. One property at least usually won’t hurt that much – depending on your financial situation of course. At least once you’ve bought a property and experienced all the emotional distress and yadayada, you’ll be more inclined to trust your logic the next…[Read more]
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