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Thanks so much for all of the information that you have shared. My properties are mostly situated in Coffs Harbour – NSW and Nambucca Heads NSW.
Both have huge Capital growth rates but i managed to buy them before the boom hit the east coast hence why they are CF+
Thats fantastic information – Stu you ledgen……
I was just looking at different ways of funding another investment and that has helped me out dramatly. Well done. At first i was abit puzzled about the jargin but now its so clear and simple.
Thanks for your input. My total debt with the bank is approx $653,000 and my equity is approx $350,000. The Bank said they wont loan me any more money to build my portfolio…..
I also spoke to a couple of mortgage brokers and they were even worse as they said the most anybody would loan me would be $700,000 total debt. Which means i can only borrow a further $47,000 yiphee.
I had one “young” mortgage broker who tried to explain to me what equity was and that it was my income from my “job” that was letting me down. He didnt consider the cashflow of any of my properties……..
Can any of you good people recommend somebody – non mainstream who has “some idea” to what we investors need to make a deal come together. Thank you so much for your wonderful information……… i really appreicate it.
My biggest problem at the moment is trying to find a bank that is open to investors buying and renovating. My bank told me the other day that my debt is getting too high and they would only loan me a small amount for my next purchase and when i say small amount i mean – yeah like im really going to buy anything except for a campervan with the kind of money that they were talking about…….
All of my properties are CF+ and i have alot of equity so i dont see the problem. THey just dont understand the whole concept of “i buy a property, i make it look awesome, we make a great capital gain, the rent is covering all costs – but they still dont want to play the game.
Is anybody else having the same dramas as me??
Would love to know…..
Just thought i would add that i have recently purchased a great property in a very good area 500 metres to the beach and about 200 metres to town. This property was on the market for over a year – nobody saw it or wanted it. The asking price was $395,000 but i ended up getting it for $300,000.
It returns approx $560 per week in rental income. It comprises of a shop front, a three bedroom unit and a 2 bedroom unit all under the one roof.
We had to do alot of renovations to get it up to scratch but now it is worth just over $450,000 and we just settled on it one week ago. (reno costs were limited to $15,000) but we now have a totally renovated building with new bathrooms, kitchens, carpets, paint etc.
You know there were so many people that looked at this property and thought it was too much like hard work to fix it up but thank you to all of them as i just made $150,000 in 30 days not to mention the fact that my cash flow postive return is a little over $100 per week.
Thanks so much for all of the detailed information in regards to Bird Dogging. Im actually half way through obtaining my buyers agents licence. I am a Property Manager for L.J.Hooker real estate and have also done my fair share of real estate sales in the past.
I have come across alot of great deals and have purchased quite a few of them myself.
Im very happy to get all of this wonderful information as it seems that im on the right track to become a bird dog or otherwise known as a buyers agent. Thanks again guys for some really good advice.
Im trying to find out the same information as you. Nobody seems to know where to start or how to find more info, although everybody talks about bird dogging as if you should know all about it, but then when you ask how to obtain further information – nobody seems to be able to help????
Good luck – we are going to need it??
I take my hat off to you. I have a few investment properties now. As a single women i have done it all on my own. I have just read both of Steve’s books along with many others. I work in Property Management as well and you know, i think the question you asked was a relevant one. dont worry what so called experts say to you. I just wish that people could be helpful instead of hurtful with their responses. That angers me.
I have something to tell you also about surfing the net from Sydney. When i was living down there i happened to find 3 of my properties which have very good returns, but back then there was not alot written on cashflow properties – i just thought that they were great deals so i bought them…….. i found all 3 of them on the net as i didnt have alot of time to fly around the country, unlike some people that take the micky out of the new comers.
Research your area on the net and then when you have a long weekend or a week off work then go and pound the footpaths. Dont let anybody make you feel like you have asked a dumb question as they just like to think that they are much better then you cause they have a few more experiances under their belt. Welcome to the world of investing – there are some lovely people out there but beware of so called experts ok??
Good luck and i wish you well,
I know what you mean. I have about 21 property investment books and find that Steve’s books are so packed with information but i also feel a little lost when it comes to finding those cashflow postive properties that everybody says are out there……..
In saying that i have recently purchased my 4th property and i accidently stumbled across it. It was a property that had been on the market for approx 12 months. I dont know what the return is but all i know is that i get approx $100 per week after expenses from this one property.
Is that good??? What return is that???[withstupid]
I found that realestate.com.au is the best site to have a look at areas that you dont live in. They will also give you links to other agents in the area that you wish to invest in. It will give you a better idea of what the value of property is in that particular area before you start neg with private vendors.
You can also access buyers agents if thats the path you wish to go down. Once you have a general idea of what property values are in that area you would be better off driving around that neighbourhood to find the “for sale by owner” signs on their front yards.
Good luck. I bought all four of my properties online.