[yackMember@yackJoin Date: 2003Post Count: 1,206]

December 23, 2004 - 6:56 am

I would treed very warily at the moment. Now is not really the time to be risking your equity.

[yackMember@yackJoin Date: 2003Post Count: 1,206]

December 23, 2004 - 1:25 am

Anymore wish to share their experiences of 2004 and their expectations for 2005.

Merry Xmas to everyone.

[yackMember@yackJoin Date: 2003Post Count: 1,206]

December 17, 2004 - 1:15 pm

Eh Monopoly

How about your achievements for this year and your objectives for next year!!!!!

[yackMember@yackJoin Date: 2003Post Count: 1,206]

December 17, 2004 - 1:18 am

I have a couple of units with common walls. I dont know if they are fire rated or not.

The thought never entered my mind at the time of purchasing.

But I sleep at night, no problems. I have complied with the law as to smoke alarms and done what a reasonable person has to do.

I reckon you are worrying unecessarily.

[yackMember@yackJoin Date: 2003Post Count: 1,206]

December 17, 2004 - 12:46 am

I just thought it would be an interesting thread to look back on in 12 months time and see how close, if at all, I got to my original objectives for the 12 months.

Its also a good way to see how people feel about property between now and 12 months time and where their objectives and feelings towards property are.

I hope more contribute.

[yackMember@yackJoin Date: 2003Post Count: 1,206]

December 16, 2004 - 8:04 am

So are you guys telling me by your silence to this, that noone has achieved anything in 2004 and no one has any objectives in 2005.

I saw the same thread posted on another property forum and there was at least 43 replies.

Anyway – I was hoping this thread may help and encourage people.

[yackMember@yackJoin Date: 2003Post Count: 1,206]

December 13, 2004 - 7:12 am

Do you think maybe that guy was a dummy bidder. Did you look in the Sunday papers to see what it was passed in at? Did you see the guy walk in and make a later offer?

[yackMember@yackJoin Date: 2003Post Count: 1,206]

December 13, 2004 - 3:46 am

Come on Now.

Dont tell me you guys achieved NOTHING this year. Surely you must have set yourselves some objectives for next year.

Steve – what about you? Surely you have grown your business a bit and set some objectives for next year.

Dont disappoint me.

[yackMember@yackJoin Date: 2003Post Count: 1,206]

December 11, 2004 - 2:00 am

<<<Now, we really want this property…. >>>

How much do you really want this property. You are near market price – offer a few thousand more if you really want the property.

[yackMember@yackJoin Date: 2003Post Count: 1,206]

December 10, 2004 - 1:09 am

<<<<Should you have a tenant in there for 6 months first then do your reno for 6 months it can be classed as repairs and claimed in this years tax.>>>>

Fixing a hole in the wall maybe but not replacing the kitchen and bathroom. You better do some further research on repairs v improvements. Do a search – this has been discussed many times on this forum.

[yackMember@yackJoin Date: 2003Post Count: 1,206]

December 10, 2004 - 12:33 am

Just ask the agent when you do your offer. I have made verbal offers without even needing to write a cheque till the offer was accepted.

Many agents work in different ways.

[yackMember@yackJoin Date: 2003Post Count: 1,206]

December 9, 2004 - 5:49 am

Are they concrete tiles or terracotta tiles? With terracotta tiles you dont paint them but tend to wash them.

[yackMember@yackJoin Date: 2003Post Count: 1,206]

December 7, 2004 - 11:13 pm

Its like any toursit area in Victoria. Not really sure they are investments but more lifestlye properties.

[yackMember@yackJoin Date: 2003Post Count: 1,206]

December 7, 2004 - 10:07 am

Sorry – I came on a little strong eh!!!!

[yackMember@yackJoin Date: 2003Post Count: 1,206]

December 7, 2004 - 10:02 am

Thats what history seems to suggest.

I recall many years of no growth or very little and even falls after a period of boom growth.

Now is a time to be conservative.

[yackMember@yackJoin Date: 2003Post Count: 1,206]

December 7, 2004 - 6:50 am

Geo – And why would you want to do that?

[yackMember@yackJoin Date: 2003Post Count: 1,206]

December 7, 2004 - 5:15 am

Pelican

I agree with your comments.

Bruham

I am not sure what your getting at. But Spann does acknowledge that you do need to generate other income to keep going and there will be times when you need to wait for market growth so your rents etc go up before you can make your next purchase.

Like Steve I suppose Spann does have other avenues of generating an income.

[yackMember@yackJoin Date: 2003Post Count: 1,206]

December 7, 2004 - 3:44 am

Sounds like a bungalow out in the back yard. But in a condition probably not much better than a tent. eg. no dunny or bathroom.

[yackMember@yackJoin Date: 2003Post Count: 1,206]

December 7, 2004 - 1:18 am

I have referred to the Peter Spann Book alot in my posts.

I agree with his strategy v the steve mcknight approach.

I believe (and its only me) Steves success was a product of the property cycle that he invested. He bought regional properties that had not increased in value for years. As the yield was good he was able to purchase many properties. Then capital growth rippled from the cities to the regional areas and he was able to take advantage of that. Its the capital growth that has made him successful.

Peter Spann is growth oriented. Buy quality undervalued surburban properties that require a renovation. Renovate them for some sweat equity. Rents will increase and your servicibility will improve. Over time they increase in value and rents thereby they become neutral. Jan Somers also advocates this.

If your investing in property would you rather regional or properties in a major city.

I would rather have $50k growth on $1m of surburban property than $25k positive cash flow on regional properties.

If you give it a long term perspective the Peter Spann strategy is better.

[yackMember@yackJoin Date: 2003Post Count: 1,206]

December 7, 2004 - 12:57 am

I agree with rogue. Thats how I started with a 2 bed unit and then you learn heaps about real estate (dealing with agents, tenants, property managers, repairmen etc) without over committing.

Things will be slow for the next few years but you get your foot in the door and start to gain some experience.