I’ve been trying to find positive cashflow property for some time now after reading 0-130 properties and am finding it very difficult. I live in Sydney and have only found positive cashflow residential properties in small country towns that have a small number of renters and little or no population growth. Am I looking in the wrong place! Are there opportunities much closer that I am currently blind to seeing. Any help would be appreciated.
Hi Schumacher,
My guess is you probably did the same thing as me after reading the book.. got all excited and went on the internet to look for positive cashflow property. Well it seems that to find these positive cashflow deals you need to put in the hard yards in terms of research and due diligence… My advice to you would be to read through some of the posts in this forum and you will pick up tid bits of information that can help you get started on your journey… Nothing can be handed to you on a plate… Its up to you to make the whole hearted effort…
[
][][]Cheers,
Jay
**********************************
You must stay pOsitive
…then the cAsHfl0w will come!
**********************************Gday schumacher[
]i did exactly what Positive said, got all excited about +ve cashflow properties and sat up for hours on end trawling the internet, but to no avail.
i have found that coming here as much as possible and reading EVERYTHING helps to teach you more and more everyday.
as Pinit2000 always says its not so much how much money you have, but it is TIME!!! i cant stress it enough. but keep looking and do searches through the treasure chest and stuff, there is a heap of useful info there.
i have now found two +ve cashflow properties to date, but i am only 18 and haven’t been able to arrange finance. i have been trying to teach my parents about positive gearing, but they dont want to here a word of it.
so when i finish my real estate course at the end of this year i am working with a friend whos a labourer, to start really saving some money for my first deposit on a property. i cant wait!!!
cheers
[
] Powmow []hey Powmow
I HEAR YA im only 19 and my parents are my god so ignorrent to the fact that thier son could teach them a thing or too. As far as finance is concerned i have posted severel times regarding this and spoken to some mortage brokers to no avail, the main points drawn out of the conversations are saving plans for at least six months prior to try and get finance, also employment history needs to b up to 2 yrs i heard and must be AT LEAST part time this excludes casual….
Maybe we could joing together i too am studying and JUST finished exams so time is plentifull but money is not ha ha damn…. but a very kind person said that if you have the time then try and appeal to those with the money by charging a finders fee around around 2% then you may have enough for a deposit and then by that time you may have some job experiance and a savings plan!
Regards Josh
Feel free to call or email
[email protected]
0433 121 899Powmow
I have the same problem with my parents!!! Will hopefully have the dosh to buy my first property mid next year!
Guys
I guess I am slightly biased when it comes to location for +geared properties.
One simple answer is to look North to sunny Qld.
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
Good answer QLD’s 007. Thats all I needed to try and find some. Now I need the time to make the trip
Yeah guys Im 21, and just starting out too, and was thinking whether I need a business partner. It might be a good idea.
Hey Richard,
What areas of QLD are you keen on (for up to 100K)?.. or would that be spilling the beans?
Sophie
Hey guys, i notice theres alot of people here my age.
Hi to all, let me introduce my self, 20 and still in uni and male too…lol
alright here is my advice.
i bought my first property at the begin of this year and many more, the way i did it was i went to the bank and i asked them straight up how much i could borrow and how much deposit i would need minimum, talk to my mums solicitor i was quickly able to work out how much i needed, but here is the inside story. To kick start my PI i have to borrow approximately $15,000 cash, i worked every single night(i do night work) and eventually paid off my debt, but borrowin that $15,000 and havin my mum be my guarantor on my first few properties, i covered costs and debts and finally did make it.
If you really believe you can do it, talk to your bank and find out. though you do have to have a workin history, thats the only down fall thing.
Hi Everyone, I simply can’t believe the number of youngsters having a good say in the forum, great work. Broz and I are also 20 years old and have already started planning our investment strategies for the future. Exciting stuff!
Fudge111[
][^][8D][][]gday guys,
i think its great that all the young people are getting involved in making there futures financially secure…
heaven knows that the government aren’t going to be able to especially with all the baby boomers just starting to creep into retirement….
i think people are going to start getting into a bit of trouble if they dont have a Plan B….
anyways thats my 3 cents
[
] Powmow []hey powmow,
you sound very eager and you got the fire and will, to me you seem your really ready to invest, take my advice, speak to your bank and see how much you can borrow straight up, also ask your parents and see if they will guarnator you in your first property, doing this will help convice them about +ve gearing.
and im also happy to see there are plenty of young people here, how are worried about there future.
i will give a quick example
the soon you get into the property market the quicker you will make your money, but here are some facts that will get you going.
at the current moment inflation is about 4% a year if you are workin in a $35,000 job today by the year 2014 if inflation is still rising at 4% you will be earnin $70,000 a year, thats double this years $35000 that most average people are earning, now lets say if interest rates are to stay around 6-7% and you are payin your debt off and keepin it as is, you should be able to pay 30 year loan off in between 15 – 22 years, instead of 30 if you were to put that money into your mortgage, or if you have positive cash flow properties, who knows you might pay it off in record time.
thats my 2 cents
talk to your bank powmow
wow..now i feel old..i’m 21, here in australia for studies and hails frm malaysia..
its exciting to see people younger than me have bought their first house..this really make me feel out of way..
i guess its impossible for me to buy a house in australia while studying…worst while i’m not a citizen of Australia..
but i hope there’s a way for me to reach financial freedom in the next few years..
cheers,
PaulPaul-
Couldn’t you look in to buying property in Malaysia?Cheers Still,
i think after about 3 weeks of talking to my dad about +ve gearing at the dinner table, i think i am starting to get through to the old guy…..
he’s starting to read 0-130 and he is finding it really interesting. he is just a bit worried about getting a property outside the Northern Beaches (sydney) where we live.
we are also talking about buying a small cottage in the suburb we live in that is a bit run down and renovating it, as my TAFE course is finishing soon and i have a bit of experience in building and so does my brother.
i think he wants to start on a project in our suburb as its a little less of a jump outside his comfort zone to start with.
we would renovate it and then sell it as it is nowhere near the 11 sec rule, but there is a large demand up here for renovated properties as the people that live here dont like getting there hands dirty…..
i know that Steve is a bit against renovating himself, after his own experience but i think it would be great experience even if we dont make any money out of it in the long run…
what do you guys reckon????Cheers
[
] Powmow []to be honest powmow, i have done plenty of renovations, there fun to do, if you have the cashflow and you are willin to put the time into it.
Though i dont do them anymore but maybe when i am able to quit my job, that something i would like to do with my spare time.
Best advice i can give you about renovations and theres plenty of other advice, but i feel this one is the most important one.
Remember while fixing the place, you lose that cash flow of having it tenanted, when renovating, make a project plan and try to complete as fast as you can, the longer you take to do the renovation, the longer it will take before you have someone rentin givin you income or havin it back on the market.
Or better still, heres a better suggestion, if you buy the place see if you can put into the contract that once the other party has signed and the contract is no longer conditional if you can start fixing the place before settlement date. Some sellers are happy to do this, but doing this would be much better for a few reasons, one that you can complete the renovation before settlement and have someone already renting in there immediatelty and you can get an income straight away to pay your mortgage loan.
good luck!
Paul-
Couldn’t you look in to buying property in Malaysia?I can but i’m still in Uni..so i’ll just brush up my skills..
hi guys im 21 and in melboulbourne i know this might sound crazy but i came up with and idea how to save for a deposit
if working a bit easier im a person that pisses my money up the wall and have nothing from two days later being paid .So what i started to do in january this here was to put $150 into shares each fornight from my pay just buying 4 of 5 big stocks eg($15*10) expense stocks let them rise so forth so forth next month ill be up to 7000 and guess what i have a deposit for my first home im not looking to buy the most expensive thing im looking at 35-50 k in the middle of nowhere
best tip realestate.com.au then leave all the fileds unchecked and just put in say $100 000 as max . the best thing we all have is time the 150 i put in shares ill put into the property ..
i know this sounds like st but this time last year i was old the gold coast having the best time of my life and now im saving and working (i wash dishes for a living) im getting to many headaches and it shits me when i can go out because of cash , after reading 0-130 its made me even keener .i guess the only thing i can say is this is working for me i live on my own 40 hours a week and fend for myself so i know how hard it is people say go to parents or partners but hows willing to hand over cash that easy the biggest and proudest moment right now is that i will have my own piece of australia in 1 month .
The other thing is to i still mange to go cluubing every weekend
anyone i thought i would share that with you and remember when where 30-35 years old how many properties do we want im not greedy but i want 4-5
thanking you for taking the time to read my little story im going to dream about other properties ..
Thomas
good on you Thomas!!!
keep up the hard work!
[
] Powmow []
good on you Thomas!!!keep up the hard work!
[
] Powmow []thanx mate its means alot when a new guy gets a chance in this lovely world of ours
thomas
i will have my piece of australia
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] Powmow [
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