Can some of you who have purchased property recently using this rule, which I believe is a great starting point, tell me about your deals? As I would love to hear some success stories, because it really helps to keep me searching, and I am sure will inspire others as well.
Thanks
Helen[
][][]Hi Helen
I can’t beleive no one has answered your post yet so let me be the first.
Last Thursday we purchased a 3 bedroom house in Country Qld for $45,000 which is currently being rented out for $130 on a 12 month lease. All our research on the town stacked up and indeed the agent advised us that we could probably put the rent up in a year.
To be honest we will wrap in then rather than rent but 15% gross yield isn’t bad in the meantime.
Anyway happy hunting they are out there you just have to look.
Cheers Richard
[email protected]
http://www.fhog.com.auThere is no such thing as a problem.
Just a solution waiting to be foundRichard Taylor | Australia's leading private lender
Excellent work Richard, sound like a great deal.
Helen I just signed one this week, again country Qld. $72,000 returning $185 p/w.
I have found 3 more deals in the same town (but Im out of cash [
]) and I have emailed the details of to a few members of the forum.Basic details are:
1. $65,000, fully furnished (microwave, fridge, washing machine, beds, lounge etc) nears schools and would return $130ish p/w
2. $155,000 (units) returning a total of $370 p/w.
They are out there!
Cheers,
Battz
Hi,
I did one recently… paid $23,500 for something rented at $90 per week.
And we did another 30 or so on similar figures…
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
If you don’t mind me asking, how are these properties structural wise? Do they need any work, or will require it in the near future?
Paul.
Hi,I did one recently… paid $23,500 for something rented at $90 per week.
And we did another 30 or so on similar figures…
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********
Very impressive, the trouble is with returns like that you always think there is a catch! May I ask was this a unit? and how long was the lease? and if it is not to bold to ask what will you do with it now?
Hi HelenI can’t beleive no one has answered your post yet so let me be the first.
Last Thursday we purchased a 3 bedroom house in Country Qld for $45,000 which is currently being rented out for $130 on a 12 month lease. All our research on the town stacked up and indeed the agent advised us that we could probably put the rent up in a year.
To be honest we will wrap in then rather than rent but 15% gross yield isn’t bad in the meantime.
Anyway happy hunting they are out there you just have to look.
Cheers Richard
[email protected]
http://www.fhog.com.auThere is no such thing as a problem.
Just a solution waiting to be foundThanks Richard, I am surprised to have only 3 replies one being Steve. I am heading up your way next month, so lets hope I can find the same sort of deal.
Thanks
Helen
Excellent work Richard, sound like a great deal.Helen I just signed one this week, again country Qld. $72,000 returning $185 p/w.
I have found 3 more deals in the same town (but Im out of cash [
]) and I have emailed the details of to a few members of the forum.Basic details are:
1. $65,000, fully furnished (microwave, fridge, washing machine, beds, lounge etc) nears schools and would return $130ish p/w
2. $155,000 (units) returning a total of $370 p/w.
They are out there!
Cheers,
Battz
Thanks Battz, out of interest how long have you been investing, and how long to find your first IP?
It is great to hear good news, and good deals.
HelenG’day Helen, (no dont ask me why Im replying at this silly time of the morning [|)])
I bought my first IP 4 weeks ago, Steve’s book provided great inspiration. I have been researching property for a couple of years now, but only seriously for the past 3 months or so.
Unfortunately limited funds has reduced the amount properties I can buy, but as they say the strong tree grows slow.(but I wish it would grow like a weed!)
Once I’d done the research I went out to a country Qld town and looked at 50+ houses in 3 days and submitted 10 or so offers to buy one IP. I bought my 2nd IP 2 weeks later after much negotiating.
I also intend to do some work now as a “buyers agent”, as it seems there are members of the forum whom are happy to pay for the service.
Good luck with it all Helen. I read a quote from Steve somewhere on the forum, something about “finding problems and then solving them”, that is the way to make a deal. Dolf De Roos calls it finding a “property with a twist”
Cheers,
Battz
][
]) and I have emailed the details of to a few members of the forum.
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