Hi

The post is called ‘Propertyinvesting 101’ by Redwing. Its a good read.

As for a seminar – ANY Seminar. A cost of $1,000 is a lot for a one day session.

My employer does not spend $1000 a day on my training.

If I had $1,000 and was a newbie – this is what i would do.
1. Spend $300 on 10 Real estate books. Both local and US books.
2. Go…[Read more]

Its just a rule of thumb. I have doubts it applies today. I have never used it.

I invest for growth and work out what I can afford.

It varies with the price of gold.

ON RADIO – NO CHANGE

Net equity of $1m in addition to your PPOR in my view is a millionaire.

Having $1.2m in property and owing $800k is not a millionaire.

YES – up .25

Dont worry about paying for a seminar – just read the post Investing 101.

Thats just what you get from a seminar anyway and thats all you need.

What are the tenants like?

Hi

I have the same friends that I went to high school with and I am in my late 30’s. But I do find it difficult to tell them that I am a property investor in addition to my job.

They have a vision of having bad tenants and then having two mortgages. They dont understand that by having a second property, one day that will pay of the PPOR…[Read more]

I reckon you have summed it up very well. All you need to do now is start the Redwing Institute and charge a fortune for the 2 day course.

I am going to Cut and Paste it and put it next to my Desk in the Study at Home. It may not look too good in my office at work.

Steve
Thanks for the update. Your honesty is re-assuring. I love the forum and enjoy referring to it on an almost daily basis.

Good luck to the Mappers. I too am on my own Millionaire Apprentice Program. Its just my mentors are me, my parents experiences, the books I’ve read and the forum.

Cheers

Andrew

aussierogue

I like that idea of yours.

ALARM BELLS – “tenant is a friend”

A commercial property is only worth what income you can get from it. Does the tenant have a long lease?

If the tenanat leaves and you are stuck with no income the property is not worth having.

The bank will value the property and risk according to the lease agreements.

I am presently looking at a commercial…[Read more]

Richmond.

You say you are selling. Have you had enough of the Peninsula? Are you saying now is the time to sell not buy? I know its taken a long time for the peninsula to grow in price and I expect when interest rates go up and people start to hurt thats the time to buy on the Peninsula as the first thing that goes is the holiday house.

I am…[Read more]

So what your saying is – wait for the Book.

Anyway regular updates in the Monthly Newsletter is good. We dont need a alot of detail but some general comments would be good.

My theory – for my situation. I am on a reasonable income (graduated uni with 15 yrs experience). I could get a higher income elsewhere but with a young family I have balance between hours and income.

Buy properties in high growth areas. Yes, near beach, 10-20 kms from cbd in cities etc.

Yes, they may be or probably are negative geared. You…[Read more]

From the 30 Jan 2004 Newsletter.

It refers to the MAP.

===============
The Secret to How to Eat an Elephant
===============

It takes vision to set big goals and courage to try to achieve them. Over the last few years I’ve been able to accomplish some rather significant achievements, like building a massive property portfolio and even writing a…[Read more]

I have always pondered the same thing. My kids are 3 and 4. I am keen on a holiday house and want to negatively gear it.

TO do that I will
a. Make it available all year round, and I will use it when not rented.
b. I was always worried about the capital growth – as they say its a lifestyle issue v investment issue. But the peninsula and the…[Read more]

This post is discussed by Steve McKnight in his latest newsletter (30 Jan 2004). Its a great reply and I feel that all newbies should read it before they do another thing. Its advice I totally agree with.

I hope my questions are not interpreted as hostile. We all have a common interest/passion here in property investing. I hope you agree.

But an update would be good. Just be honest. If someone has dropped out, so be it. If opportunities are limited, so be it – we all have this experience.

Are the Mappers experiencing the same as everyone…[Read more]