Hi Scott
Well done, it is great to hear the success you are having in our great country towns.
Keep up the good work our ‘country town folk’ need you.
And as you say the good deals are still out there, enough for everyone.
Cheers
Leigh KRead, learn, grow but most of all just do it.
MiniMogul,
Your post is amazing, how do you answer that post?
Being a city investor, the thought of buying in Broken Hill really does make you brave( I think). My logic is never buy in mining towns.When the mine runs dry and closes, the town dies. Just like B.H. The people of B.H. claimed that the mines would never close, unlimited resourses.
Not so. The joint is half dead! Only dopey investors are buying there.
As for investing ten thousand dollars to re-coup a net of twenty dollars a week, Mini you could earn that in one hour driving a taxi and keeping your ten thou. for a decent investment.
Bless you my child!!!!! Never mind you’ll learn
one day.
My brain says if you own twenty properties, I own four. That’s sixteen more headaches than me,
sixteen times your overheads than me.Sixteen more
of everything than me!!!!! BUT, our returns could be the same(I’m being nice) probably mine are way in front of you there.
REMEMBER, IT’S NOT THE AMOUNT OF TOYS YOU HAVE.
IT’S THE AMOUNT OF INCOME, THAT WINS.
I stole that from someone.
I hope, the win, win thing goes for all of “us”.Scott, don’t mention the town your playing in.
S.Mc K.mentioned a Victorian town that had huge vacancies, everyone on this website bought the place up and created an over supply of rentals!
Goes to show, plenty of those country sheep are out there waiting for someone to BAH!!!Bruce G.
hiya bb, i wondered where you’d got to.
>MiniMogul,
>Your post is amazing, how do you answer that post?you’re doing great!
>Being a city investor, the thought of buying in Broken Hill >really does make you brave( I think). My logic is never buy in >mining towns.When the mine runs dry and closes, the town >dies. Just like B.H. The people of B.H. claimed that the mines >would never close, unlimited resourses.
>Not so. The joint is half dead! Only dopey investors are >buying there.i think you are right and I wouldn’t be attracted to BH despite the lo prices for reasons you’ve said plus others. Where I have bought is in NZ and the towns are residential and either close-ish to a city and on the surf coast, or in a self-contained and seemingly stable small town servicing a farming area.
>As for investing ten thousand dollars to re-coup a net of >twenty dollars a week, Mini you could earn that in one hour >driving a taxi and keeping your ten thou. for a decent >investment. Bless you my child!!!!! Never mind you’ll learn
>one day.People seem to think that 10 percent return is reasonable, and that example above was that if you bought something for 10K and rented it for say 50 bucks a week (you were the one that said you could buy in BH for 10K and rent for 80) – anyway at 50 per week, it’d be a 26 percent return. 20 bucks a week was just how low it could go theoretically and still be cashflow positive at 10.4 percent. it was an academic example. OK 20 bucks a week is not much, but have you ever played monopoly? Often you get started with whitechapel and old kent st, because you can’t necessarily do park lane and mayfair first up. I will get there, because I hope to get reasonable returns that show up as profit, help me get a few more, and eventually use the income to support a capital gain property in a city.
>My brain says if you own twenty properties, I own four. >That’s sixteen more headaches than me,
>sixteen times your overheads than me.Sixteen more
>of everything than me!!!!! BUT, our returns could be the >same(I’m being nice) probably mine are way in front of you >there.yeah – i hear ya – and like I said I’m not gonna be at the bottom of the bottom of the market for ever. I agree with more overheads like rates, insurance, maintenance. but still, they will hopefully become ‘free houses’ (averaging 20 percent) in 5 years or sooner, and that sounds pretty good to me even as a rank beginner.
>REMEMBER, IT’S NOT THE AMOUNT OF TOYS YOU HAVE.
>IT’S THE AMOUNT OF INCOME, THAT WINS.I sort of agree (i mean, we all want to be growing our wealth in our property deals rather than shrinking it!) however a person who starts with 20k at 20 percent and keeps reinvesting the returns with compounding interest will get there quicker than a person who’s income from job is 80K per year but spends it all.
If I invest my measly 25 bucks a week (say it was 50 in rent but half went on overheads and maintenance) at 14 percent and i’m 35, by the time I’m 65 i will have $692,328. All from a measly 10k investment to start getting that income.
I know the numbers aren’t huge but give me a few years and I’ll be adding zeroes on to what I;m doing now, i hope!
>I hope, the win, win thing goes for all of “us”.
yeh! And isn’t it cool that we have different profiles of investors, so (thank Gahd) we aren’t ALL looking for the same kind of properties?bye for now!
Mini
As for investing ten thousand dollars to re-coup a net of twenty dollars a week, Mini you could earn that in one hour driving a taxi and keeping your ten thou. for a decent investment.
Bless you my child!!!!! Never mind you’ll learn
one dayHi bbruham, have you gotten into property investment to retire early on a passive income or to buy a second/third taxi so you can drive 24 hours a day?
$20/week for one property = just 1 hour of driving in a taxi. True, but that one hour a week is 52 hours/year. But if you have 8 of these $20/week properties it could be 1 day off a week or more than 10 weeks off a year.
REMEMBER, IT’S NOT THE AMOUNT OF TOYS YOU HAVE.
IT’S THE AMOUNT OF INCOME, THAT WINS.Is it? But I thought…
As for investing ten thousand dollars to re-coup a net of twenty dollars a week… Never mind you’ll learn one day.
“If you can count your money, you don’t have a billion dollars”
J. Paul Getty
hello Leigh,
Retirement!!!! My goodness Leigh why would you want to retire? Sitting in GODs waiting room waiting to be CALLED!!!!! Remember that call is the next thing after retirement.
If you have a heap of money, then travelling the world seeing other peoples cultures etc is interesting for awhile(trying not to trip over your walking frame).It all becomes boring after awhile.
A few years ago, I had a little old lady in the taxi. It was a short trip, to the shopping centre.As she attempted to open the door she broke down, telling me how lonely she is.”Could you please talk to me”? Being too busy I almost threw her out of the cab.I had other jobs waiting.I think about her all the time.The last thing on this earth I want is to be is a little old lonely person like that.In the last days of my tour of duty, in Vietnam, I stole a service revolver with amo. When I become like that little old lady, BOOM!
SO NEVER RETIRE!!!!!!!!
Bruce G.Bruce,
I don’t know whether you are the real deal or not, and I’m not going to gratuitously insult you, but surely if someone, especially an elderly lady, breaks down in your cab, you can take time out to give her some solace, instead of taking this attitude:
“Being too busy I almost threw her out of the cab.I had other jobs waiting.”I know you’re a lot older than I am, and I have no doubt you have a lot more life experience, but I hope when I get to your age, I am not so wound up in my own day to day life that I can’t stop for a second and help someone out if they need assistance. That is not meant to sound pious, even though it might come across that way.
As for travel becoming boring, well, I guess it depends on what you are looking to get out of it and how open your mind is…
In regards to your last line on advocating suicide, well, I don’t know if you’re trying to be funny or not, so I won’t comment.
r
Hi Bruce,
In truth, your post made my skin crawl. [
] Yet in fairness to you, I can’t begin to imagine what you went through in your “tour of duty”.
Still I must caution and warn you that many people access this forum, including at least one 13 year old boy that I know of (my friend’s son ) and your last post can’t be construed as a positive influence or helpful advice.
If your message to Leigh was not to retire, I’m sure there are other ways to express it.
I appreciate your directness, but in future, perhaps this might not be the correct forum to be talking about guns and taking your own life if and when you get lonely.
I for one, would have loved to have had the opportunity to comfort a complete stranger. I guess she taught you a lesson though!Everything happens for a reason.
Take it easy.
Sooshie []“small steps make the journey” (SAS)
oh bb, you’re incorrigible,
I can just imagine you sitting in your cab, listening to people ringing up talk-back radio all day complaining about this, that, and the other in the world and how unjust and terrible it is.
it’s not uplifting stuff, most of it, ditto oprah, ricki lake, nd the like.>Sitting in GODs waiting room waiting to be CALLED!!!!!
retirement means different things to different people – but perhaps Leigh means being financially free and not HAVING to work unless you want to. i for one couldn’t think of anything worse than sitting around twiddling y thumbs and playing the odd round of golf, if that was what ‘retired’ meant.>If you have a heap of money, then travelling the world seeing >other peoples cultures etc is interesting for awhile(trying not >to trip over your walking frame).It all becomes boring after >awhile.
I somewhat agree, as a person that gets bored with too much leisure. I recently went to Bali for a chill out resort thing but 5 days was plenty and i couldn’t wait to get home and get stuck in again.
>As she attempted to open the door she broke down, telling >me how lonely she is.”Could you please talk to me”? Being >too busy I almost threw her out of the cab.I had other jobs >waiting.
Yeah well this sounds really mean and i woudn’t be showing off about it if I were you???
>I think about her all the time.
I bet you do!!!>SO NEVER RETIRE!!!!!!!!
i get where you’re coming from with that but I have to come out with this and say that you seem so….antagonistic….belligerent….argumentative….negative….
we have all been trying to honour you with decent replies that take you seriously, but in the end maybe you’re just one of those sad angry psychologically damaged veterans who sees fault everywhere he looks, but never any in himself.People that don’t have much joy in their life often find it very confronting being around people who obviously do.
Throw away the gun, you’ll feel heaps better.cheers-
MiniI believe that retirement is having the option to work or not.
Other than travelling to England with my parents when I was barely old enough to remember it I’ve never been overseas. I’ve never been to America, Ireland, Fiji, Bali, Greece, Italy, Canada, or New Zealand, other than Footscray ([
]) I’ve never experienced another culture, never seen war, slavery, poverty or wealth, I’ve never stayed, travelled or eaten 1st class, never seen the Alps, the Rockies, the Amazon, a glacier, haven’t sky dived, heli-skiid or bungee jumped, hell, I’ve never even been to Tassie or the Northern Territory!But, once I’ve spent 7 years in Tibet, come ashore at Anzac Cove, walked the Kokoda trail, backpacked through Europe, dinned out in New York, lived it up in Hollywood, been lost in the Amazon, surfed the Nile (it’s true – once a year), paraded down the streets of Rio, run with the bulls in Spain and sun baked naked on a beach in France I’ll come home and work again stacking shelves with the days returns at the local video shop for $13.77 an hour. You know why? Because all those things are boring and I’ll wish I never took the opportunity to try them!
Oh, and if sitting in gods waiting room for my number to come up is the next thing after retirement then I’d better become a patient man. Not all of us have the privilege of life experience as yet, but in 40-50 years time (long after financial freedom) when I’m nearing the age of traditional retirement I’ll think back to this moment and reminisce ‘gee im glad I didn’t take ol’ bbruhams advice and keep on working!’
“If you can count your money, you don’t have a billion dollars”
J. Paul GettyIsn’t it about time someone locked this ridiculous subject!
Bbruham, jolly good idea stay in sydney, the rest of australia couldn’t tolerate your narrow minded thinking, you silly silly actually stupid person!!! By the way how durrrrr are you telling everyone that you don’t pay taxes, sorry where you from!!!!!and to finish off I’m not from the country brought up in the city and I’m not a single mum, but I don’t go around ridiculing people who are. Don’t forget Karma!
bjajcr,
You’ve brought this post back from the dead!
Interesting name???? you’ve got there. Please be nice and use your name.You sound like a Nancy to me.No! lets now call you Karma.
As for not paying taxes, well that’s not true anymore. As of this financial year my tax jumped from nil tax to fifteen percent.Of course if I borrow more money, then it will go back to nil again.Toooooooo easy!!!
The question I ask myself is where do I invest this new borrowing? Shares, houses etc.
I’m thinking.
Bruce G.“Country towns are only where dead beats rent.Unmarried mothers, drugies, unemployed who just won’t work.If they really wanted a job they would be in the cities.”
“I have four properties in Sydney. On the Northen Beaches.
Harbord,Dee Why & North Curl Curl.Plus one in the north side suburb of Chatswood. Total valuation
of just under two million dollars.”“I also own a taxi.This I run from home. I have drivers for most shifts. I drive on Saturday and Sunday day shifts.
I am a WOG!! Worker of the Government.”“Not mine, I DON’T PAY TAXES!!!”
Im confused, who is the deadbeat here? I would rather have mothers abusing the welfare system than have greasy slimeball snobs like you with millions of dollars in property ripping off the taxpayers. You have to be pretty stupid to insult the majority of 18,000,000 people, and admit to a crime publicly.
no no no no no
i think i speak for all longer time forumites when i say that please lets put this topic to rest.
we had only just starting to get over it too[}
]please move on
Hi Bbruham, no my names not Nancy or Karma. Sorry if you felt uncomfortable talking to letters. I’m not buying at the moment decided to hold off for a while to see what the market place is going to do. I’m going to pay off as much of my existing loans as possible, so if the dreaded percentage rise does occur I won’t be hit as hard, compared to people owing 7 – 8 figures to the banks. Don’t think that selling will get you out of a tough situation, because when things tighten up people stop buying thats when the nasty chain reaction starts to happen. Booms don’t last forever, be prepared!!!!
Sorry aussieroque
Good call Aussie Rogue.
Done..
Enjoy
AD [:0)]
(Andrew)“Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired, and success achieved.”
] Yet in fairness to you, I can’t begin to imagine what you went through in your “tour of duty”.
]
]) I’ve never experienced another culture, never seen war, slavery, poverty or wealth, I’ve never stayed, travelled or eaten 1st class, never seen the Alps, the Rockies, the Amazon, a glacier, haven’t sky dived, heli-skiid or bungee jumped, hell, I’ve never even been to Tassie or the Northern Territory!
The topic ‘Run, It’s A Herd stampede !!’ is closed to new replies.
