hi maggie

i don’t beleive interest rates will move up for the forseeable future. it would take a dramatic change in the international economic climate (improving) for us to lift rates. if it weren’t for the property boom i beleive rates would be down lower. Once the market cools rates may drop.
Having said all that i have about 1 million Debt so…[Read more]

Hi sooshie

spoke to recovery earlier today he ment to write “purchase” price.
Must of had one of those cheap keyboards or has been talking to so many Kiwi’s now he’s starting to spell like the way they pronounce words

westan

Hey Bradyboy

all the best
warren buffet (the worlds most successful investor and second richest man in the world) said he didn’t buy his first shares till he was 9, he said he wonders why he waited so long.

maybe you should look at the stock market also, its cheaper to get into and fun also.
Learn all you can by reading books, i’d recommend…[Read more]

Hi all
agree can’t kick her out
But
how about offering the lady free rent if she will let you share the property. It may not be the best solution, but if you want the 7k and don’t want to be remove the lady, and cannot get and extension this is another posibile way of fulfilling your FHOG committments.
westan

Hi fizman
you did well to get the book, all the shops i tried had sold out, just got it today in the post.
Your strategy is good because interest on your own home is not tax deductable.
if you wanted to be a bit more aggressive you could draw down the equity you have saved to purchase a 2nd IP, and third IP etc (i’m not encouraging to be…[Read more]

Hi Guys

Deauzie
it might work? Worst case senario, you get caught and go to the slammer. And then you have all this free time to look for property (on the net), but insections would have to wait for day release.

Fullout
The past 3 years have seen cash positive properties appreciation far faster than the Hot markets of Sydney and Melbourne. So…[Read more]

Hi kirby319
i agree 100%.
a few weeks ago i was reading how Greenspan was making simular warnings about the US stock market in 1998 saying it was overheated (this was at the beginning of the boom). He later decided to keep his opinions to himself do his job and let the market sort itself out.
westan

if the figures stacked up i’d look into it. find out those other things
Property 20k loan interest 24pw @5.65%
insurance 4pw
rates 8pw
water 7pw
Agent @8% of 75 6pw
Total 59pw costs
Profit 16pw (not much in it)
Unless you can change…[Read more]

Hi OlorinSledge

give us the figures
price
Rent as is
What can be doneto increase rent
How many vacant houses in the town
If a minning town how many years left in the mine, can town survive without a mine?
I buy often where there is no expectation of capital gains, for instance i bought in St Arnaud (pop2500) Vic. 2 months ago for 27K, 5k for new…[Read more]

Hi guys nothing new in these announcements the RBA has been warning the same thing for the last year maybe 2.
Some people could get very badly burnt, hopefully everyone who reads these forums aren’t buying inner city appartments. This has been the focus of continual warnings. Money can, and will be made in Property but we have to be…[Read more]

Di Cam
i can’t remember him making a comment on that one. But your logic follows.
RK would never advise buying a money loosing property.
As far as the House being an asset i’m with kiyosaki on this one. My car isn’t really an asset either but i could sell it for $$. It makes me laugh when i fill in loan applications and they have car and…[Read more]

Aussie Rogue
Re return in Stawell can’t remember what i said but the rent should be over $115 i’m getting that for on ex ministry house, but if it’s nice could get up to $130. There are 3 houses for sale in Warren St stawell now, one 54k, needs a paint, one 60k and one 67k, (i should ask be real estate salemen). Warren st has the worst reputation…[Read more]

yes

you can still find them in Vic. in cities such as Ararat, Stawell and Horsham.
In Stawell for instance 60k rent $120. so returns not as good as the past but still cash positive easily. But these homes are in short supply only two on the market for 60k or under.

and i was buying them 10 months ago for 35K
westan

Hi Dalee

there is a book by Dol De roos called “101 Ways to Massively Increase the Value of Your Real Estate”
copied this blurb from his site
“One of my favorite examples of how to increase the value of a property way beyond the cost of execution concerns a carport. Imagine you have a residential investment property that has neither a carport nor…[Read more]

Hi gooch1

You would nead a commercial loan because there are 6 units therefore my need 66%finance ?
assuming that you pay 280K you nead 96k cash in the deal.
Loan 184K @ 6.6% = 233.5 pw Interest
Rates/water could be high
because 6 units say 3000 pa = 60pw
Insurance 400pa (guess) =8pw
agent @7% assuming all let
at 90pw…[Read more]

Hi everyone

can all you guys that are joining in this topic, email me on westanjohnson@hotmail.com
i will get back to you with what i want to discuss.
Muppett
yes we agree that all of us staying with you is to much. Is there any Motels/accomodation nearby? if we have to travel how about we book 3 rooms, one for me and the females, i mean 1 for me…[Read more]

Hi chris

i don’t think Kiyosaki says eduction is a waste of time, infact he encourages education (and it appears this is where he makes all his money).
I work in a school (not as a teacher) and it amazes me how teachers complete focus is on education, get a good education and get a Job. This is the way teachers have done it and think it is the…[Read more]

Hi guy’s
i agree garfield i wouldn’t borrow 100k to make 30-50pw. But i would borrow 30k to make 30-50pw, or 100k to make 100-150pw. And as Richmond said that return should increase over time.
westan

Hi everyone

muppet
show’s what an ignorant Aussie i am, the all blacks were playing the south african’s not the French.[] But i did know the game was in Dunedin because an agent i spoke to was heading of to watch the game that night.
Go the Kiwi’s they won again,[] i’d better start barracking for them since we will be living in otago. And my…[Read more]

hi avid
i,ve not heard of it either
But in The US you can avoid capital Gains tax if you reinvest into another property. would be great here.
westan