Total Members: 159,340

Steven

  • Steven replied to the topic Expert Bust #24 High Yield in the forum General Property 3 years, 6 months ago

    Both are important.

    Without high yield you don’t get serviceability to apply for more borrowing (unless you have an insane amount of cash that you don’t need to borrow)

    Without high growth, then you don’t get enough deposit to buy the next one

    Instead, it is also important to think which one will break you.

    Lack of growth may make things…[Read more]

  • Steven started the topic Questions about building inspection condition in the forum General Property 3 years, 7 months ago

    Hi all

    Asking about putting building inspection clause in a contract. I would like to find out has anybody successfully got vendor to remediate an issue that is NOT exactly considered a “major defect” before?

    I understand that if a major defect is found, the buyer has the option to pull out of the contract. (or alternatively the vendor can offer…[Read more]

  • Steven replied to the topic Median House values. in the forum General Property 3 years, 7 months ago

    I hardly pay attention to Medium price.

    I have made the rule to do the following:

    1. Look at “Sold within 800-1500 metres radios in the past 2-3 months” and make offers based on that, as long as the numbers make sense to me. It is up to vendor to accept or reject my offer but it is up to me to make my offer.

    2. Never up my offer unless I am…[Read more]

  • Steven replied to the topic Expert Bust #18 No benefit buying under median value in the forum General Property 3 years, 7 months ago

    I think the idea of buying under value is to be able to add your own values. As the likes of Steve McKnight and many investors on this forum would point out “don’t buy a solution, but instead implement your own solution and then sell your solution”.

    Where you make money is not when everything is done for you, but instead for yourself to overcome…[Read more]

  • Steven replied to the topic Expert Bust #18 No benefit buying under median value in the forum General Property 3 years, 7 months ago

    I think the idea of buying under value is to be able to add your own values. As the likes of Steve McKnight and many investors on this forum would point out “don’t buy a solution, but instead implement your own solution and then sell your solution”.

    Where you make money is not when everything is done for you, but instead for yourself to overcome…[Read more]

  • Steven replied to the topic Bank assessment, question about stress testing in the forum General Property 3 years, 7 months ago

    So in other words, if your spending is like this:

    $1500 for food

    $800 for loan repayment

    Not only will banks add a few on top of the $800 to make your loan repayment look bigger (akin to adding an extra 2-3% on the actual interest rate to stress test your loan), but they will also add some money on top of $1500 for food to make it look like you…[Read more]

  • Steven replied to the topic Bank assessment, question about stress testing in the forum General Property 3 years, 7 months ago

    What about non-debit related spending? Like food, groceries, etc..

    If my living expense (not loans, etc.. just pure non-debit expense) is 1500 per month, will banks automatically assume it is 500-1000 higher than my actual spending as well?

  • Steven started the topic Bank assessment, question about stress testing in the forum General Property 3 years, 7 months ago

    Quick question about Stress testing.

    I understand that when applying for a loan, banks would use a rate that is higher than the actual interest rate to assess your serviceability, such as if the actual lending interest is 4%, banks might internally use 6-7% when analyzing your application, as a way to ensure if the interest rate hikes, you will…[Read more]

  • Steven replied to the topic Expert Bust #20 Don't buy at the bottom in the forum General Property 3 years, 7 months ago

    I don’t like crystal ball gazing… in other words, I don’t try to “time the market” as I have no confidence that I will get that right.

    Experts get them wrong the whole time.

    Media keeps on hyping it up but gets them wrong all the time.

    Economists get them wrong the whole time.

    Business Analysts get them wrong the whole time.

    So what makes…[Read more]

  • Steven replied to the topic Expert Bust #8 You lose money when you buy in the forum General Property 3 years, 8 months ago

    In this case, then we are talking about the same thing.

    In my example:

     

    Instead of buying at standard $250K market value, investors buy at $150K, spend $20-30K adding value and result in property achieving $250K value even though they only spent $180K on that. And as far as from practical application’s point of view, investors considers t…[Read more]

  • Steven replied to the topic Expert Bust #8 You lose money when you buy in the forum General Property 3 years, 8 months ago

    I think the issue with this thread is it is getting hung up on trying to debate the “definition” of something that is defined loosely when in reality, at the end of the day, what investors really care about is the practical strategies and the outcome it drives.

    Instead of buying at standard $250K market value, investors buy at $150K, spend…[Read more]

  • Steven replied to the topic Bellarine Peninsula the new Mornington Peninsula? in the forum General Property 3 years, 8 months ago

    I don’t exactly like the idea of “crystal ball gazing” the market, because expert economists get them wrong all the time, so what makes us think non-expert economists can get them right?

    In the Eastern Asian philosophy, they say “you can control the Earth, but you can’t control the Heaven”.

    Market is like “Heaven” to my opinion and I have no…[Read more]

  • Steven replied to the topic Ex commissioned home in the forum General Property 3 years, 8 months ago

    OK. Interesting story you have with your Moe property. Was it a property located on King St by any chance?

    One of the things that always tends to get me is most people (agents, tenants, property managers) tend to think “a better kitchen / bathroom” adds more value than “better carpet / wall paint”.

    It seems there is a general perception that “a…[Read more]

  • Steven replied to the topic Ex commissioned home in the forum General Property 3 years, 8 months ago

    When you say Latrobe Valley, do you mean area like Traralgon?

    I haven’t seen anything popping up that is below 200K in Traralgon recently. In fact, it appears the cheapest properties that show up now days in that area are now at least 250K or more.

    I bought a house in Traralgon for low 200K sometime last year, and recently I see a well renovated…[Read more]

  • Steven replied to the topic Ex commissioned home in the forum General Property 3 years, 8 months ago

    When you say Latrobe Valley, do you mean area like Traralgon?

    I haven’t seen anything popping up that is below 200K in Traralgon recently. In fact, it appears the cheapest properties that show up now days in that area are now at least 250K or more.

    I bought a house in Traralgon for low 200K sometime last year, and recently I see a well renovated…[Read more]

  • Steven replied to the topic Ex commissioned home in the forum General Property 3 years, 8 months ago

    I was looking in Horsham.

    It appears there were a few sold in North Eastern direction of Horsham and they were sold for low 200K or below 200K. But then there are also a few sold for over 300K in that general direction as well. (A few sold at Dooen Road for well over 300K).

    Speaking with agent, I was told the places near Mary St / Winifred St,…[Read more]

  • Steven started the topic Ex commissioned home in the forum General Property 3 years, 8 months ago

    Hi all

    Today I hear the term ex comissioned home for the first time.

    Is someone able to explain what it means? (tried to google, there are lots of “opinions” about if they are good/bad, but haven’t been able to find a proper definition).

    Also, why are they good / bad?

     

    Steven

  • Steven started the topic Subleasing via a business in the forum General Property 3 years, 10 months ago

    Hi all

    I haven’t posted at propertyinvesting.com for a long time. Not sure if this is the best place or if this should be a question posted under “Legal and accounting”.

    I don’t need very specific answers as I understand it is probably a discussion best to be had with Accountants in greater. However, I am interested in finding out if anybody…[Read more]

  • Steven replied to the topic Anybody heard of DG Institute? in the forum General Property 4 years, 4 months ago

    This is a way old thread, and I am kind of surprised that it got dug up….but the short answer is no, I didn’t go ahead with this training..

    But I went ahead with a different training (which is the reason why I am now in both Australian and New Zealand markets).

    By the way, you said “it’s sad how many great presenters/sales agents are out t…[Read more]

  • Steven started the topic How to get agents to talk to me. in the forum General Property 4 years, 5 months ago

    Hi all

    For those investors who are experienced. Can you please advise what is the best approach to get agents to talk to you when you research and look into an area that you never looked into before?

    My personal experience is that the agents in NZ are significantly easier for me to have a dialogue with than the local agents where I am based…[Read more]

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Steven

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