Hi Vinh

You asked how i got 10 ip’s in one year.

well

i went back to study for 4yrs to get my Batchelor of Theology and at the end my net worth was down to $25,000. So i didn’t have much to play with. I was able to buy some very cheap properties with some money i borrowed from my mum. one property was in Clarendon Vale Tas which i got for 33K…[Read more]

Hi Gatbe7

if you buy into a property fund you miss a lot of the advantages of direct property ownership

1. leverage – with 50k you can invest 50k in a property fund or purchase an IP worth $250k at 80% finance. Do the figures if they both appreciate at 10% and see how far ahead you will be.

2. you can not improve the value of the fund, whereas…[Read more]

Hi trying

you asked me a question “how long have i been in the game”

in 1997 i bought 10 IP’s then i was stuck with no equity for a few years then started refinancing to get another 11 over the last 2 yrs.
it was actually after reading “rich Dad Poor Dad” that helped me realize i was on the right track

what about yourself

regards

westan

Sorry fullout don’t want to print the answer because too many people read this forum. but am happy to compare notes, phone 0415 438666 tomorrow. the town/city has population of over 10,000 and is in Victoria

regards
westan

Hi Fullout and David

i like to make at least $30 per week

So here an example
last purchase $75,000 rent for $155pw

Interest on loan @5.65% 82pw
Rates/water 15 pw
insurance inc L/L 6pw
agent fees 11pw
Total Cost 114
Rent 155
profit $41 per week
so it fitted one of my criteria’s

also interested in what other do

Regards
westan

i’ve been using Homepath P/L a lot. i have 21 IP’s all cash positive. when i got to about 12 NAB wouldn’t lend anymore to me. Homepath has no application or valuation fees, no account fees and a standard variable of 5.65%. they are owed by CBA and are a no frills lender, no Company loans or fixed rates. They aren’t perfect, sometimes they are…[Read more]

La Trobe Valley has been through some really hard times over the last ten years. In Morwell and Moe the power industry lost 1000’s of jobs leading to population declines. I think this trend is now reversing. Property prices were obviously effected. Added to this was the previous state Gov. (jeff’s) embarked on a policy of selling off Minisrty…[Read more]