[TCLinvestmentsParticipant@tclinvestmentsJoin Date: 2009Post Count: 84]

January 4, 2010 - 2:25 am

I think it was residential rate. 6.32% i think. not too too sure on that. need to check.
I bought this one through my trust, and went low doc.

[TCLinvestmentsParticipant@tclinvestmentsJoin Date: 2009Post Count: 84]

January 3, 2010 - 4:38 am

No No Terry, I really appreciate your comments. I can see that you are very wise and very respected poster. There may have been better places to park my money, but for the cashflow perspective, this is the best that i could find!!

I have resolved to spend more time on my investments this year. My aim is to be finacially free by the time i am 35 years old. 7 years away. I need to find a mixture of captial growth, cash flow, developments, sub divisions etc. all sorts of investment to drive myself to freedom, all in 7 years time.
I am here to lean, I want to be more active, i want to organise a meetup of interested investors on this site, so we can actually meet. (if thats possible). Bottom line. i need to learn more.

[TCLinvestmentsParticipant@tclinvestmentsJoin Date: 2009Post Count: 84]

January 3, 2010 - 1:01 am

Could i be rude and ask why you want these two apartments to be bought from Australia?? and not just go to your local RE agent??

Maybe post up the details up or ask for interest on this forum site. Im sure with this pool of investors, there should be at least some interest.
If you want, you can email me the details, i wanna start researching NZ properties.
[email protected]

Cheers

[TCLinvestmentsParticipant@tclinvestmentsJoin Date: 2009Post Count: 84]

January 3, 2010 - 1:00 am

Could i be rude and ask why you want these two apartments to be bought from Australia?? and not just go to your local RE agent??

Maybe post up the details up or ask for interest on this forum site. Im sure with this pool of investors, there should be at least some interest.
If you want, you can email me the details, i wanna start researching NZ properties.
[email protected]

Cheers

[TCLinvestmentsParticipant@tclinvestmentsJoin Date: 2009Post Count: 84]

January 3, 2010 - 12:42 am

CBA, 60%

I had to come up with alot of cash myself. Which i expected. Buying for the rental income. and the utimate goal of replacing my wifes working income.

[TCLinvestmentsParticipant@tclinvestmentsJoin Date: 2009Post Count: 84]

January 3, 2010 - 12:13 am

If you looked at just the unit itself, stand alone. it might be very silly. Why would i pour in 110k of my own money into something that might go down in value. I only got 60% LVR, and paid all the other closing cost.

But maybe if you took a step back and looked at where i was at in my investment journey, you may see some sense in it. I already have 4 properties that hare negatively geared. I am trying to replace my wifes working income. (by my rough calculations, i stand to make about $9000 net a year)
This unit will create more of a balance in my portfolio. and provide me income for when i need to start a family. So what if i sell it 10 years later and for the same amount of money?? This unit would have served its purpose, i have other investments in place to reap capital gain.

Anyway, thats my defence. im no expert. just a novice. Still learning hence im here on these forums. and joined the 250k club.

Cheers

[TCLinvestmentsParticipant@tclinvestmentsJoin Date: 2009Post Count: 84]

January 2, 2010 - 10:39 am

I just bought one. Unilodge Sydney, Utimo.

Cost me 238k, 47Msq, with two occupancy.
renting for 497.50 per week , Tenants in til July 2 2010

i am buying for the rental return, i understand that i might even go down in the short to medium term. but i dont mind. it is a form of income.  I just have to know that it may take some time to sell when it comes to disposing of this asset.

All i can say to fionaleesaunders is, you need to know what you are getting yourself into. i suggest go and talk to the rental management company, and ask what are the ups and downs of buying a particular unit. i found that he can tell me alot. ( i meet him after i settled mine)

[TCLinvestmentsParticipant@tclinvestmentsJoin Date: 2009Post Count: 84]

January 2, 2010 - 8:12 am

Hello everyone.

Has anyone been able to register their book yet?? I can’t seem to do it. We were promised we would be able to register and access the resources from the 1st dec. But the weblink keeps saying thar I am too early and they don’t have it ready yet. Just wanted to see if others have registered.

[TCLinvestmentsParticipant@tclinvestmentsJoin Date: 2009Post Count: 84]

January 2, 2010 - 3:53 am

OK, an update

I did finally purchase this appartment, there was lots of drama, and backwards and forths with the agent and the vendor. but, we finally ironed out all the wrinkels of this deal.

My final purchase price was 238k
rent this year is $497.50/week

i got the tenant til 2 jul 2010- so im happy for the time being,

The place has had any minor maintence issues fixed when these tenants moved in in Nov 09, so i wont be needing to touch the place for a while (touchwood)

Overall Im happy with the out come. It just took a long time and alot of frustrations.

[TCLinvestmentsParticipant@tclinvestmentsJoin Date: 2009Post Count: 84]

December 22, 2009 - 10:37 am

Is it just me or does anyone else think that Jason is giving us the hard sell???

[TCLinvestmentsParticipant@tclinvestmentsJoin Date: 2009Post Count: 84]

November 27, 2009 - 11:51 pm

Hi David

First of all, Pat on the back for taking the first steps to becoming a millionaire. Its not going to be easy, its not always going to be smooth, but it will be very satifying. and if you stick with it long enough and never give up. you will get there. No doubt.

Second- In my opinion, mentoring should never cost anything!!!! To me, i havent checked the dictionary, but to me, mentoring is sharing sucess to a person on the same journey as you, an exchange of knowledge and information. I have been very lucky in my life to have such a person, he helps me with what ever is on my mind, He never tells me to do anything, rather, he askes me very objective questions so i think about situations in a different way, he draws me a pros and cons and askes me to decide for myself. So i think a mentor should be very honored to have a student, i dont think money or anything else should exchange.

I dont know if i am very qualified, but sure you can email me, and ask me any question you like. I have been in the game for a few years now, i dont consider myself a pro, I too am still learning, One thing i can suggest, is joining Steve's 250k Club. Where you will be surrounded by pple of various experience levels, all together sharing ideas and pushing each other along. It does cost abit of money, but you will be exposed to 249 pple on the same path as you with pretty much the same goal. (the goal being, making 250k in the next 18month) Look even if you dont reach this ultimate goal, you will learn alot from this experience, and i am sure you will benefit from the experience. 

Will post more details of the 250k club later. Good luck to you, you can pm me. or email me, [email protected]

 

[TCLinvestmentsParticipant@tclinvestmentsJoin Date: 2009Post Count: 84]

November 22, 2009 - 11:33 pm

ten_burner wrote:

i would be out buying already, seriously alot of buyers will hold off buying now because no one likes making big expenditures leading up to xmas…

i would take a LOC on the Investment property and buy as much growth property in Capital cities as i can using 5% deposits + LMI

thats my strategy ive been using for 3 yrs my fiance and I are sitting on 8 IPs, some would call it a high risk strategy but its working fine for us

Dont know if you can get 95% anymore, with all this GFC and all, not from the majors at least.

[TCLinvestmentsParticipant@tclinvestmentsJoin Date: 2009Post Count: 84]

November 22, 2009 - 11:32 pm

A Savvy investor like you would come to me and partner up. With your equity monies, and my expert investment professional strategy we could team up and make a motza!!!!!!!!!!!!!!

Just kidding, I wish i were in your shoes tho. I am all fired up from the Steve McNight book launch, but dont have much to play around with, He did say there were three areas that he would look at, Muti faimly dwellings, eg, duplexs and blocks of units, Positive cash flow properties and commercial. If this gives you something to look at. Let us know how you go.

[TCLinvestmentsParticipant@tclinvestmentsJoin Date: 2009Post Count: 84]

November 21, 2009 - 11:03 am

Whoa, you got 80% finance??? Thats cool, which banks allow that in regional areas, im guess with the range of institutions around these days, there will be a specialist lender for that niche market right???
Gosh i really want to get this happening, I have used up all of my equity over the years for other business ventures, so i dont have much left in the kitty.

Partnership?? nah, not unless its a big enough project. wouldnt be worth the hassle in my mind. Im thinking the 1 mil mark before i get a partner involved, but thats just me.
I dont really want all that paper work to split 150k.

Im also thinking of another strategy, that goes something like, save up a large sum of money and find a desperate seller/urgent sales,  be in the position to buy the place cash. so for places like that, 128k, cash it, but since  we dont have to go thru finance, we can hurry up the process and that may be a we want a big discount, and we offer something like 90k, then we have a margin. We choose to do what we want with it, take the higher return, save up again for our next purchase, or flip it.
again, we would be targeting desperate sellers that need the money in a hurry, and just want to off load their place.

( im really tired and might not be thinking straight, i may edit this in the morning)

[TCLinvestmentsParticipant@tclinvestmentsJoin Date: 2009Post Count: 84]

November 21, 2009 - 3:51 am

All sounds good.
The only major concern is finance, Now i am going thru a tough time tyring to get finance for student accommodation in the heart of Sydney. They were going to lend me 70%, then my broker said that it might not go thru and we went for a lowdoc, only 60% LVR. I have had to pore alot of money into this deal. More than i would have liked.
So, If i need money to do these reginal property investments, whats my strategy??? I have got 4 IPs at the moment, 5th on the way. but cash poor after this one. Does anyone have the answer to this secret??

[TCLinvestmentsParticipant@tclinvestmentsJoin Date: 2009Post Count: 84]

November 20, 2009 - 11:16 pm

Right Mattnz, why would one sell to be hit with CGT?? If our strategy was to buy n hold.
Valuations are so subjective though, U go to one realestate agent and ask for a valuation, then you  go to another, he gives you something totally different. because they want your business.

Anywho, I am going to use this as a motivational tool, Give each other ideas and share our frustrations ( im having trouble with my CBA at the moment) and pool our knowledge. We will be wiser im sure after this excerise.
We even got a incentive to acheiving the goal- What did Steve call it?? a retreat or something?

[TCLinvestmentsParticipant@tclinvestmentsJoin Date: 2009Post Count: 84]

November 20, 2009 - 10:50 am

I have just confirmed my place. havent got the receipt for it yet tho.

So, How do they determine if we have made 250k??? time is easy, ( i dont even know when anything starts), start point, everyone starts with naught. Then in 18 months, we all line up and say.

In the last 18 month………

• I have bought 4 properties. Total purchase price, 1.1mil. Total valuation 1.35+, i have achieve the 250k goal.
• I have bought and sold property, and the total profit from all of my transactions is more than 250k
• I have bought property, many of them and i now have a total cashflow of 250k per year.

i dont know, there are a million different scenarios that you could interpret 250k.

Anyone else??
 

[TCLinvestmentsParticipant@tclinvestmentsJoin Date: 2009Post Count: 84]

November 20, 2009 - 1:40 am

I am also going to start on the book. I need to finish it soon to get all the benefit from it.
I am wondering the same thing, We pay money to join this club, and what we get essentially, is to network with each other, We might form JVs, we might inpire each other to make a move, of those of us who have been talking about it for years and years, It might open doors to our eyes to otherways of doing things. I realise that now. Even if we dont get to that magical 250k mark. (anyway how is that determined?? capital gain?? on paper or selling the properties, or in cash or what?) even if its half that, its not bad for 18 months.

Anyway its going to give me the kick along that i need to get myself moving.

[TCLinvestmentsParticipant@tclinvestmentsJoin Date: 2009Post Count: 84]

November 19, 2009 - 9:27 am

Hello All

I too am interested in positive cashflow properties. I have been debating in my mind for a long time, wether to go for reginal areas.
I have some concerns for reginal property, maybe some of you that have property in that sorta area can quell them for me.
1, hard to get finance, – need bigger deposit
2, vacancy periods, how long, how hard is it to get a tenant.
3, Slow Growth, in rent and capital appreciatation.
4, Maintenance issues- as in a small country town, there may be only one or two handymen around, also supplies might be more expensive or not available.
5, Higher management fees, higher cost associated to inspecting the place ( not really a concern, i have one place at maroochydoore i havnet seen for 4-5 years)

Could someone please tell me how to identify a growing town? how can we know. since, if the schools and roads and other infrustructure has been built, the horse has already bolted, that means that we are too late. the price rises have already happened.

Im been such a city person for so long, thats all i know. someone has to take me back to the slow quiet and peacful life of country.

Thanks in advance.

[TCLinvestmentsParticipant@tclinvestmentsJoin Date: 2009Post Count: 84]

November 19, 2009 - 8:23 am

Hi Joanne

I take it you found that dela last night to be of great value. 
I havent been to many seminars or talks lately, you could go to one every weekend if you wanted to, all trying to sell you their program, or their offers, or their packs of DVD/ CDs. I have been burnt before and dont like the feeling that some pple are taking advantage of other peoples ignorance.

Anyway, I will get started in the book.