Why not post your questions, so we all can share.

I never started investing till I was in my early thirties anyway.

I did my degree qualified as an accountant then went to the UK and spent 2-3 yrs working and travelling. Met my wife on the way home. Dont talk to strangers on the Train.

I am not sure if you can quantify life experiences in the number of rental properties.

If I had my time…[Read more]

No. I buy to Hold.

I personally would never buy from a group like these. I prefer to buy direct from real estate agents after I have done my research in knowing what properties are worth in the area I am interested in.

If they offer a rental guarntee – I would run for the hills. You pay for a rental guarntee in the price, which means you are paying more than you should.

<<<<how you have addressed any issues that came up while you were learning.>>>>

From my contacts.

Accountant –
Solicitor –
Property Managers –
Estate Agents in area –
Insurance Broker –
Bank – which Bank – they seem to like me.

I discussed things with my parents. I always listened but always made my own mind up. If I had taken their advice I…[Read more]

My experience.

1. Accountant background. Dont do tax.
2. From a building family.
3. Family/parents invested in real estate. Made mistakes.
4. First PPOR in 1996 and purchased investment property in 1997.
5. Went to US 1999 and saw property frenzy in san francisco – Silicon Valley.
6. Came home puchased several other properties.
7. Purchased last…[Read more]

At the end of the day – you got to take some action.

I dont see why you got to pay $000’s for seminars.

If your worried about making mistakes because they can be costly.

Gee, I may as well stay in bed. I could fall over go out the front door. But You pick yourself up and get on with it even if you have to spend some money on fixing your…[Read more]

In summary. Its all a learning process. And sure you will make mistakes along the way. As Jan Somers says in Ordinary Millionaires (i am reading it currently) its time in the market.

It does not matter what type of property you buy (house/unit) or whether its neg+/pos+ – its time in market. How long you can hold onto your properties.

The best…[Read more]

I dont like Cranbourne. Too much land around there, too far from city. Too much still needs to be developed. I prefer Frankston than Cranbourne.

I dont believe agents are under any obligation to present offers.

From a sellers perspective I would be pissed if the agents kept coming to me with low ball offers. Do your job better I would say.

From an agents perspective (and Jenman alludes to this) agents like to tell the sellers what all offers are. Even low ball ones. This is one way…[Read more]

go check out jenman.com.au or even read his book – Dont sign Anything.

Your better off with one agent, as you will have some control over them. Read the book – you will then know which agent is best for you and what issues to be wary of.

Only sign for 6 weeks, dont pay for advertising. (if they have buyers – why advertise).

Make sure you have…[Read more]

Too risky for me. 3 years is a long time to liquidate an asset. If the housing department is not keen on that area how loud do the alarm bells need to be.

In the US you can buy these properties for no money down.

Why dont you ask for vendor finance. Say you will pay them $15k now and say $55 in 5 years at 5% interest paid yearly. That even…[Read more]

I agree with everthing you have said. I am in my late 30’s with 2 kids in kinder. They are 13 mnths apart. We are on one income but were on two incomes when we started.

Each case is different and I firmly believe you are on the right track. Keep it up.

<<<<<<He was saying that you can’t make instant money in real estate>>>>>

I believe he is mostly talking about the seminar gurus re:Henry Kaye and others who say ‘if you buy from us you get the property below valuation etc.’

He is a big advocate against these types of 3 tier marketing companies. He just wants consumers to be wary of these…[Read more]

Ok. Lets compare this to my first investment property also bought in 1997.

1. Two bed Unit in Mentone (Melbourne, Bayside surburb about 18kms from city) – near shops, station, beach, great Schools. Bought Jan 1997 for $90k.

2. No deposit. Used equity in PPOR to finance. No money down. SO thats what they mean.

3.Rent was around $135 a week.…[Read more]

Yes, I agree at the end of the day, the market determines what you can charge for courses.
If people are willing to pay $1000-$1200 fair enough. But I think $300 is more reasonable. I think that is what Jan Somers charges.

If I was about to start property investing, this is what I would do. (well its sort of what I did).

1. Spend $300 on 10…[Read more]

I share your frustration. My advice is to buy good quality properties if you feel you can afford it. You can never loose on good quality properties over the long term. Thats why I only purchase close to home in Melbournes Bayside surburbs.

I give the walls a light sand and use ‘No more Gaps’

I love the Web Site. I have not read the Book but tend to agree there is a place for positive cashflow properties in a property portfolio.

But I too agree that $1200 is a bit much. ($1200* 200 people = $240,000). It must include airfares and accomodation somewhere. It sort of is Henry Kaye ish.

I would have thought more along the lines of…[Read more]

I have only been investing for 7-8 years and always used fixed rates, mainly 5 yrs. The Bank has always won. So I would love to hear other opinions.