[Luke TaylorParticipant@world-changerJoin Date: 2005Post Count: 415]

January 12, 2018 - 7:57 am

Hi Sbav,
I’m interested ;
Did you get a lot out of these materials man?

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January 12, 2018 - 7:51 am

Hi Cava,
great that yr looking to go for it even when people are saying it cant be done!
I always tell people to start by using whats in yr hand.
So I would start by writing down a list of what you do have ie;resources-time,money,income,serviceability,abilitys etc.
Then search for something that will fit with that.
I would try Australia first I yr search as this will negate some of the OS investing issues .
To give you an idea – I built a lot of my experience in property investing on a very small income ($400 per week)then buying cheap properties $37K-$75K.I still hold some today which cashflow well ,so never let anyone tell you your mad!

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January 12, 2018 - 7:27 am

Hi Clyde,
Have you made any progress with this as yet?
Have you Any thoughts to share you had in getting through it?Then maybe we can help.
Sell one at a loss? or hold for now till/if mine comes?Rent at increased rate?

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December 22, 2017 - 10:58 am

Manly West is a great spot but not much under $550-$600k these days unless u can do a bit of Reno ing yrself to add value ??
If u bought a 4 bed 2 bath you could get $550-$600p/w rent in this area and good potential growth .
It’s about 17 kms from CBD so median is close to 680k from memory on this product

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December 21, 2017 - 2:15 pm

Hey Guys ,
Brisbane has been getting some good growth already over the past 2-3 years.(inner city then outwards up and down and out approx 30mins.)
It has strong potential to keep ticking over in the next 2-3 years too.
It has many areas where you can buy lower end properties too so helps with cashflow and lower risk IMHO.

Melbourne has been getting some incredible growth so not sure how long that will continue but I don’t have as much experience in this market as others.
For further out I know of some guys have been doing well out in Werribee and expecting further growth short term

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December 21, 2017 - 2:08 pm

Great Terry,awesome help

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December 21, 2017 - 2:03 pm

What areas are you thinking dave?

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December 21, 2017 - 2:01 pm

Great points guys,
yes mermaid and a lot of the direct water side suburbs will always be more sought after due to water and lifestyle .As mentioned any suburb with heaps of land around will take many years to grow consistently(once the land is all but dried up)
Coomera has a stigma too and a lot more rentals than OO’s
The thing is too -there are still some deals around the waterside areas quite reasonably priced too

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December 20, 2017 - 1:42 pm

Great strategy Terry love it!Alot of guys are doing this .
I think though- the thing I found is people starting out are finding difficult is
point 1 Find the dream home –
As People need to not only find their dream home but be able to afford to purchase it too
For example we pay $280 per week rent .The interest only on the property we live at would be close to $2000 per week .
Most people could not afford this until they get further ahead,pay cheap rent and invest elsewhere to later be able to get into their dream property.
Or they could choose to buy a cheaper PPOR and use the benefits as you mentioned (and buy and sell the propertys a few times to speed the process if they can) while the market increases the value and do some vale adds(renos) to the property at the same time

• This reply was modified 6 years, 4 months ago by  Luke Taylor.

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December 19, 2017 - 11:07 am

Hi David
No1 is a possibility but maybe pay less than 350k ??you can potentially get cap growth too this way .
Are u wanting enough cashflow from your no1 cashflow strategy to pay the houses off in 5or6 years from the cashflow alone or will you Inject other funds to help ?
Strategy 2)
$600k house . This would get u closer to the CBD in Brisbane for sure but it would be hard to get neutral or + return

You could go multi unit or commercial possibly too as a consideration?

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December 19, 2017 - 10:48 am

In the meantime – try hard not to get too down on these 2 deals and stop u growing yr portfolio in other areas if u possibly can . Even rent yr ppor our and rent somewhere cheaper till u get on top of it ?!!

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December 19, 2017 - 10:45 am

I just had a look at Yr deals Clyde
How much do u owe on these ?
If u are gonna lose massive selling or you believe it will turn with Adani(good chance the market will turn if adani happens )-
I would keep paying them down to get close to positive cashflow as quick as possible .then once it turns wait for a period of good growth (not too long)then sell .(or use the extra rents to keep paying 1 down if u believe there are long term prospects and sell other ?)
Remember focused mining based areas are always up and down

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December 19, 2017 - 10:37 am

Hey Clyde
I am really sorry man- it should be ok to believe that someone can do what they advertise and be able to rely on it . I think most of us have been taken for a ride at some stage in our Investing , so it’s not good man .
For what it’s worth this guy Rocket – seems to believed he was doing the right thing and from what he said about his personal portfolio he was honest and said he has taken a big hit too – many in Gladstone ??? Are u able to ask him again privately whether he would be willing to help you in any way ?? You never know . Often us humans believe that when things are going great (property is growing at great Guns etc) that nothing will ever go bad – it’s human nature unfortunately so we tend to just keep ramping up instead of slowing down and getting ready for things to slow down or worse ! I am hoping there is a way you can turn this around and thinking of other options for you

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December 19, 2017 - 8:31 am

Hi Guys,
So sorry to hear of yr troubles.
I am not trying to rub salt in the wounds but its a good reminder for all of us to learn to do our own research and due diligence.
There are many many many (property) selling companies that are salespeople who really beleive they are doing their best to help people but unfortunately are still needing time to learn how the markets can sometimes change very quickly and affect values. This is especially exaggerated with new properties as usually they are sold at time premium when compared to older properties in the same areas.They are usually much smaller land content too.
Is there any way you can increase the rent by renting by the room or just furnished or something?Any other creative ways you could change this situation?

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December 19, 2017 - 8:13 am

Its a a really hard area to find integrity.If he lives OS -I would build relationship with some other investors who may be out of town but have been investing in the area for some time.You need time to build trust-especially here .Try not to tell the PM yr OS either-this is a key.

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December 19, 2017 - 8:10 am

Sometimes it can be a mistake from the agent too.
other times some people hate agents and sell too cheap as a result .

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December 19, 2017 - 8:04 am

Great thread guys,
I have rentvested for 20 years+ and it has been a great help to get ahead and build momentum on a portfolio.It does take some sacrifice though.
The more you are willing to sacrifice the quicker you can get ahead.
For example -atm -my wife and I live on someone elses acreage in a 2 bedroom cottage .But if you did the figures for example if we were buying this property- we would have to pay 6-7x what we are paying for rent -just to pay the interest on the loan .

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December 19, 2017 - 7:50 am

Hey guys,Good discussion ,
My take is just keep some good cash buffers and hold strong returning cashflow properties that would hold value ok in a downturn.
Warren Buffetts company is holding from memory 96billion in outright cash atm .This is apparently the highest amount of cash they have ever held.They are thinking that there are some serious possibilities of issues in the world with N Korea,D Trump,Brexit,terrorism etc .This is worth listening to.Then if or when something does happen you can get the deals as most people will be struggling

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December 19, 2017 - 7:41 am

vyaw-did you try the popular commercial sites?
I would then build relationships with some good agents in the areas your targeting and get them to want to call you when they come up

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December 19, 2017 - 7:38 am

Hey guys ,
I noticed your discussion on GC-a great area -just stay away from high rise unless its direct water front and watch the fees.
Mermaid Waters is getting great growth and will continue to for a season yet.Coomera has got heaps of supply so in my opionion will not sustain growth as well

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