[voigtstrMember@voigtstrJoin Date: 2005Post Count: 176]

September 8, 2005 - 12:19 am

Pretty house!

Although this wasnt that profitable a deal for you, would buying a house with FHOG, modestly renovating, living in it for a year, and then selling be a reasonable place to start for a newbie (and potential mentoree)

I would want to find positive cash flow deals during the year as well, although my partner believes I have some wish to be slum lord, when all I really want is cashflow.

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September 7, 2005 - 7:53 am

How to make leaving a job a must?

Come work at the IT helpdesk I’m at. You’ll wanna leave real quick.

(I’m in saving deposit mode)

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September 7, 2005 - 6:25 am

I have lived in Hobart for the last 2 years and will be buying a PPOR here when I have the deposit saved. Before Hobart I lived in Melbourne. I dont want to spend much over 150k and then intend to renovate and then sell after a year (fhog reasons and I believe capitol gain tax is reduced if you live in for a year?)

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September 6, 2005 - 5:01 am

next question is: when you say “the area” which area are you talking about?

(you are not allowed to say “Tasmania”)

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September 6, 2005 - 1:04 am

can you use the “and/or nominee” on the contract to get it into his name?

You need one of the mortgage brokers qld007, aperry etc to have a crack at this one I reckon.

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September 6, 2005 - 12:12 am

Originally posted by Adamj_81:

Has anyone out there done any research on property around Tasmania

I have seen some good properties in those areas under 100000 but don’t know to much about the area.

Any shared knowledge would be great.
Cheers Adam

100000 in population or dollars?

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September 6, 2005 - 12:03 am

Originally posted by voigtstr:

Steve will you be able to tell us in advance what the monthly fee will be. I get paid on the 15th of each month (sometimes doesnt clear till the 17th) and would like to know how much to move out of ING Direct in advance.

Cheers
Simon

Yes? No? Dust?

The computer says no. <cough>

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September 5, 2005 - 2:27 am

Originally posted by Captain_Picard:

Hi Jah,

To answer your question, I know these houses are good value, because the unimproved land value is close to the asking price of the home. The land value figures are accurate because I use the same database as Natural Resources and Mines, Australian Business Research and RP Data use. Comparable house sales in the area also gives me an indication. For example, the house I signed a contract for at Banyo is $198K, while the vast majority of houses in the area are in the high $200K’s or low $300K’s. That, combined with the high land value ($170K) tells me that I have a good deal, particularly when the difference between the contract price and the land value is only $28K. I am quite sure the house is worth more than that, having inspected it, and seen it is in fair condition.

As to bird dogging, yes you are basically correct. I understand from reading previous posts that you need a buyers agent licence to do bird dogging, which I am willing to get before I do this.

Daniel.

Another issue as far as value goes, is what would these properties rent for? Eg for the 170k property would a rent of $340 a week be way over what the area would support?

Cheers
Simon

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September 4, 2005 - 10:55 pm

Steve will you be able to tell us in advance what the monthly fee will be. I get paid on the 15th of each month (sometimes doesnt clear till the 17th) and would like to know how much to move out of ING Direct in advance.

Cheers
Simon

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September 4, 2005 - 8:53 am

Milly: a possible solution would be to have a wired smoke alarm fitted by an electrician to the mains. (no more battery woes)

Advise the tenants that if the alarm goes off (burnt toast, etc) to open some doors to disperse the smoke.

What do people think? My partner’s sister has just moved into her newly constructed house and its smoke alarms are mains wired.

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September 2, 2005 - 4:21 am

Originally posted by lupus1704:

Congratulations Cpt Picard. Looks like you have been busy on your path to success.

Am about to start the next leg of my journey as well and start looking again. If you don’t mind me asking, where abouts were you looking? Sounds like you have quite a few deals

Lupus

Perhaps he’ll bird-dog them to you

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September 1, 2005 - 12:30 pm

(where do you get a cup of coffee for $3?) Hobart Tasmania!
Beautiful place!

I’m sure I’ll be able to adjust my budget around the fee, I’ll definately have to pay monthly though.. no use using what little deposit money I have at the start and then not be able to apply anything I learn. I look forward to seeing what you have planned… and hope its the start of baby steps out of the rat race for me.

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September 1, 2005 - 9:05 am

I was expecting more comment on this. How pro or con are people towards this latest mentoring offering? Or are people waiting for more details?

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September 1, 2005 - 5:12 am

Crikey! thats a whopper of a spreadsheet!
I’ve downloaded it and will have a play with it to see if I can make sense of it.

Nice Excell skills though!

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September 1, 2005 - 4:25 am

So you are coming Daz!

Honestly, for me I am prepared to pay around $60 a month, as my budget (which is focussed on both saving a deposit AND clearing one unsecured loan by April), can absorb that amount without too much drama.

If everyone takes up Steve’s offer I’m sure he will make a pretty penny from it, and as long as there is a lot of practical advice and successful methods for making money from property and not simply motivational platitudes, I reckon he will deserve to make buku dollars from us eager padawans.

60 or so a month, yes I’ll subscribe, but if the information isnt useable, or means I’ll have to sell my kidney to get deposit monies together, I’ll simply unsubscribe.

Dazzling, your satire is appreciated and you are a valuable asset to the community.

Cheers
Simon

(edit: Steve did say a good cup of coffee a day didnt he… mmmm the fee could be up to 90 a month?)

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September 1, 2005 - 1:40 am

and what happened in Tassie?

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August 31, 2005 - 5:23 am

Originally posted by Pete&Jackie:

Hi Voigtstr,

Just read your posting as we have been without the internet for 2 weeks (My god, what did we do without it) while we moved from Bellerive to Tranmere.

We would be interested in an investors club if there are enough like minded people,

Cheers,
Pete & Jackie

excellent, I just started up an other thread on the idea, because I thought this one has sunk without a trace. I’m sure there are more investors living locally even if they are investing elsewhere.

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August 31, 2005 - 2:38 am

Originally posted by Regrow:

Hi Voigtstr

Here is the link to the post “What type of vehicle do you have”

https://www.propertyinvesting.com/forum/topic/18815.html

Regards

Regrow

You are a fool for 5 seconds if you ask a question, but a fool for life if you don’t.

I found dazzlings post and added my Moto Guzzi to it, (and desire for a gibbs aquada or lamborghini)

Cheers
Simon

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August 31, 2005 - 1:02 am

Originally posted by McGrath:

Simple because as a scientist you actually were doing something for the benefit of others, not just yourself – as a property investor you actually contribute very little society.

Or to look at it with the glass half full: you are providing people with lovely places to live in.

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August 31, 2005 - 12:50 am

Originally posted by learay:

We recently had 4 agents assess one of our more recent acquisitions for rental with a view to engaging an agent to manage it.

The home is a large 5br, study, rumpus, etc, etc that we were spending around 20k upgrading in outer Melb suburb. We were looking to rent for at least $250pw.

Of the 4 agents; 2 said most we’d get for rent would be $240pw, 1 said she’d have real problems renting it out and if successful we’d probably only get $220pw. The 3rd didn’t want to touch it as she wouldn’t be able to get tenants.

Not happy with responses we decided we’d take a punt and advertise in local papers ourselves @ $260pw. After showing 4 applicant families thru the home (3 wanting to rent it) we chose the successful tenant @ $260pw – no argument (and then had to turn away another 3 applicants).

We now manage it ourselves saving on management fees and collect rent $20-40pw higher than “quoted”.

Our suggestion would be – don’t necessarily take what agents say as gospel.

Ray

To begin and not succeed is not to fail
To never try is to fail

Nice work !

Hopefully by selecting the tenants yourself, you’ve picked people that will look after the place and pay the rent promptly.

What sort of checks did you do on the new tenants?

Cheers
Simon

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