Viewing 20 posts - 21 through 40 (of 137 total)
  • Profile photo of shaunwalkershaunwalker
    Member
    @shaunwalker
    Join Date: 2003
    Post Count: 403

    Tip,
    never believe what the real estate agent tells you, always double check his/her information from a reliable source.

    Lead, Follow or get out of the bloody way

    Profile photo of Misty1Misty1
    Member
    @misty1
    Join Date: 2004
    Post Count: 348

    tips:
    A)Dont smoke in bed…
    B)Bite off more than u can chew.
    C)NEVER<EVER take advice,or be swayed by negative people.
    D)If possible,find a mentor.(If not,chat on this forum!& have many!)
    E)Read,read,read…until ya eyeballs bleed!
    F)Ask as many qu’s as u can,to anybody,then double check it with someone who knows!This method saves alot of time & money asking the knowledgable (& expensive) pro first up.
    Hope these help.

    Profile photo of MarkyMarkMarkyMark
    Member
    @markymark
    Join Date: 2003
    Post Count: 132

    -Get good control of your finances first. If you cant manage what you’ve got, then you’ve got no chance of managing multiple investment properties

    -There is a price for locals and a price for everyone else

    -Understand the value of money. Every dollar is worth a lot in future dollars

    MarkyMark

    Profile photo of redwingredwing
    Participant
    @redwing
    Join Date: 2003
    Post Count: 2,733

    Look for the ‘silver lining’ in your property quests..!!

    a recent job helped me to cross two towns of my list, and i was paid to be there..[biggrin]

    REDWING

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

    Profile photo of kay henrykay henry
    Member
    @kay-henry
    Join Date: 2003
    Post Count: 2,737

    redwing :o) Good point. I go to three or four conferences a year, and the last one I went to, I checked out my IP, and signed my contract- it was good timing for me :o)

    Conferences and work-related trips are a great way to check out RE all over the country, and to check out the “vibe” of a place.

    kay henry

    Profile photo of garrytasgarrytas
    Member
    @garrytas
    Join Date: 2004
    Post Count: 36

    Tip:
    Remember there is no cooling off period in Tasmania, its cool enough at the moment.

    Do hotter States have longer cooling off periods?

    Thought,

    What is the return on investment when the investment is nil? (property bought, then renovated, then revalued then,100% refinanced.)

    Tip:
    A verbal contract is not worth the paper it`s printed on.

    [email protected] Always have cashflow positive Tasmanian commercial properties
    available

    Profile photo of BarnseyBarnsey
    Participant
    @barnsey
    Join Date: 2004
    Post Count: 70

    Tip:-
    Keep details of all your financial transactions on your home computer (yes home stuff like kids clothes, groceries, dinner out etc. as well). This helps you track not only IP performance, but highlight areas of personal spending you may not be aware of or not like. Therefore save you money, which you can then invest!

    Regards

    Patrick

    The dumbest question is the one you don’t ask.

    Profile photo of kay henrykay henry
    Member
    @kay-henry
    Join Date: 2003
    Post Count: 2,737

    garrytas,

    There is no cooling off period in WA either. Hence:

    TIP: Do your checking BEFORE you sign the contract. (I do this anyway for my IP’s- cooling off period or not).

    kay henry

    Profile photo of bsticklandbstickland
    Participant
    @bstickland
    Join Date: 2003
    Post Count: 4

    Always look for something extra – some properties have that extra bit of land, some have better fittings (eg increased rent or decreased vacancy), some are at a bargain price – why buy average?

    Good deals, by definition will only be a small percentage of available deals – don’t buy average properties – any mug can do that – take the time to find ripper deals.

    A special benefit from the property means you’re ahead at day one. People who say you can’t buy better than the market average should be avoided.

    Also, know what type of profit you need – what’s a good deal for others might not suit your needs – there are many ‘good deals’ that might not suit you – figure out what you need and get out there and find it.

    Finally – desperation is a bad (very very bad) motivation – realistic expectation of profit based on solid research is a good motivation.

    Have fun finding em :-)

    Profile photo of Julian2Julian2
    Member
    @julian2
    Join Date: 2003
    Post Count: 82

    Don’t turn up in the Rolls if you’re about to play hard-ball with a low offer.

    Profile photo of FFCommFFComm
    Member
    @ffcomm
    Join Date: 2004
    Post Count: 627

    Tip:
    Always put a get out of jail clause in your contracts.

    Tip:
    Always keep learning.

    Tip:
    Find a niche/strategy that is succesful and then repeat.

    Rgds.
    Lucifer_au

    Profile photo of femaleage20femaleage20
    Member
    @femaleage20
    Join Date: 2004
    Post Count: 68

    3.
    100% loans when starting out are frought with danger.

    why do you say thay?

    Profile photo of myoungmyoung
    Member
    @myoung
    Join Date: 2004
    Post Count: 33

    Tip: never tell an agent your budget as they will only show you properties close to it and prevent you making rediculous offers on higher priced properties. Makes it harder to find or create bargins!

    Profile photo of aptamaptam
    Participant
    @aptam
    Join Date: 2004
    Post Count: 61

    Hi All

    I just stumbled upon a great website run by the federal government.

    It basically contains a log of all disasters for a region – and it is searchable.

    Maybe good to see if the area you are buying in is flood/bushfire/storm prone etc etc.

    http://www.ema.gov.au/ema/emadisasters.nsf/webpages/HomePage?OpenDocument

    Cheers,
    Andrew.

    Profile photo of amichelonamichelon
    Participant
    @amichelon
    Join Date: 2004
    Post Count: 13

    1. It isn’t how many times you fall over that is important it’s how many times you get up.

    2. Value is a perception that is created on opinion and price is what is paid.

    3. The adivce of others is just their opinion, search for the facts and form your own opinion.

    4. The person who is the most flexible in a deal will control the deal.

    5. Always check the ecology in a deal, is it good for the other party, good for you, good for the community, good for business and good for the planet.

    Ciao,
    Aaron

    Profile photo of RYEDGERYEDGE
    Member
    @ryedge
    Join Date: 2004
    Post Count: 11

    Tip:

    Do not let other peoples ignorant and negative opinions, stray you from your path.
    No-one can ever truely achieve success without stepping out of their comfort zone and taking a chance.

    Tip:

    Your attitude, IS EVERYTHING!![8D]

    Ryan Crawford…

    Profile photo of foundationfoundation
    Member
    @foundation
    Join Date: 2005
    Post Count: 1,153

    Tip:
    Lower your gearing / leverage / LVR in a rising market. That way you can ride out the subsequent bull market without falling into negative equity.

    Profile photo of DazzlingDazzling
    Member
    @dazzling
    Join Date: 2005
    Post Count: 1,150

    Tip 1 : Chat to as many older people as you can about their property experiences. Try and find one with a decent memory for figures…

    Tip 2 : Try and learn as much from people who are a little further down the investing track than what you are right now. Someone miles in front is probably of little value to you as their techniques will be different.

    Tip 3 : Get a cosy relationship happening with your banker – they will end up being your closest partner in the property investing game.

    Tip 4 : Never miss a payment to your Lender.

    Tip 5 : Try and buy deals where the land component is greater than 85% of the total property value – hard to get +CF with this scenario but not impossible.

    Tip 6 : Configure your ownership structure to protect your ever growing asset base.

    Tip 7 : Don’t lose sight of your most valuable assets – your immediate family members.

    Tip 8 : Be good to your Mum !!!

    Cheers,

    Dazzling

    “Go hard or go home”

    Profile photo of profitmanprofitman
    Member
    @profitman
    Join Date: 2003
    Post Count: 3

    [rolleyesanim] Tip
    Never believe all that you read especially when it comes to property investing.

    Profile photo of redwingredwing
    Participant
    @redwing
    Join Date: 2003
    Post Count: 2,733

    Dazzling i’m with you on Tip 8

    “Money is a currency, like electricity and it requires momentum to make it Effective”
    Count The Currency With This Online Positive Cashflow Calculator

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