2019 Money Magnet Symposium - Discover how to make, and keep, more money and achieve a financially empowered future
Viewing 20 posts - 101 through 120 (of 137 total)
  • Profile photo of jessiccaroberttjessiccarobertt
    Member
    @jessiccarobertt
    Join Date: 2010
    Post Count: 2

    Become an expert in your real estate market. If you have done well in a niche market, keep doing what you have been doing!! RE isn't an experiment,  I think it's a skill.

    Profile photo of PaulliePaullie
    Member
    @paullie
    Join Date: 2009
    Post Count: 217
    Shelley D. wrote:
    Tip I send my tenants a $50.00 gift voucher every time I get a good inspection report or after tax time – They love it and I love them for looking after my property.

    Is that tax deductible? lol

    Profile photo of ladyhawkladyhawk
    Member
    @ladyhawk
    Join Date: 2010
    Post Count: 13

    Tips for buying real estate
    1. Ask yourself where do you want to live and what type of property do you want to live in. Do you want to live in the city, near the beach, in the country, etc? It is not only more enjoyable to live in good area, but it will enhance the value of your property.
    2. Consider growth areas with good access to local facilities.
    3. Once you've decided on where you want to buy, make a list of what is important to you in a house, i.e. number of bedrooms, lock-up garage, view, backyard, period features, etc. Then be prepared to compromise on a few things.
    4. Are you prepared to renovate?
    5. Look for at least one special feature, i.e. designer interior, large backyard, period features, etc.

    Profile photo of senalsenal
    Member
    @senal
    Join Date: 2010
    Post Count: 3

    More tips:

    -Think long-term.
    -Don't chase the trends.
    -Focus on your goals.
    -Try reinvesting.

    Profile photo of LuteruLuteru
    Member
    @luteru
    Join Date: 2010
    Post Count: 1

    Investing the correct way is extremely important. You have to look to invest and save money for future purposes. Here are some tips for new investors to help launch an effective and long term investment strategy:

    -Refrain from all equities.
    -Look at mutual funds.
    -Concentrate on the fees.
    -Cut down the taxes.
    -Investment is a long and tedious strategy. You have to stick with it and look to improve your efforts.
    -Choose and implement a good investment plan.

    Profile photo of R.FranklinR.Franklin
    Member
    @r.franklin
    Join Date: 2010
    Post Count: 4
    Luteru wrote:
    Investing the correct way is extremely important. You have to look to invest and save money for future purposes. Here are some tips for new investors to help launch an effective and long term investment strategy: -Refrain from all equities. -Look at mutual funds. -Concentrate on the fees. -Cut down the taxes. -Investment is a long and tedious strategy. You have to stick with it and look to improve your efforts. -Choose and implement a good investment plan.

    What's your thoughts on going to a financial planner for new investors?

    Profile photo of fWordfWord
    Participant
    @fword
    Join Date: 2009
    Post Count: 471
    Paullie wrote:
    Shelley D. wrote:
    Tip I send my tenants a $50.00 gift voucher every time I get a good inspection report or after tax time – They love it and I love them for looking after my property.

    Is that tax deductible? lol

    It is, I suspect, considering it's a gift to tenants.

    Profile photo of J.SmithJ.Smith
    Member
    @j.smith
    Join Date: 2011
    Post Count: 1

    TIP,
    Always do research. You can never do enough research. A lot of people dive into the property market head first and blind folded, and that’s when people make bad purchases. If you like a property, find out about the surrounding area; find out the local crime rate, find out how much properties in the area recently sold for. Find out EVERYTHING. There are tonnes of websites out there that will give you all these details at no cost.

    J.Smith

    Profile photo of brokersperthbrokersperth
    Participant
    @brokersperth
    Join Date: 2011
    Post Count: 6

    Consider pooling your resources. If you find that your budget won’t allow you to get into the investment property market on your own, consider investing with friends or family in a share of an investment property. With pooled resources you may also be able to afford a larger investment property and attract a larger rental return.

    Home Loans Rockingham

    Profile photo of BrunellaBrunella
    Participant
    @brunella
    Join Date: 2011
    Post Count: 3

    The best investment tips I can think of is to start investing now and earn an average annual return of 10 percent — ambitious, but possible — and you’d have to invest about $7,400 a year to get to $3.26 million in 40 years. But if you wait 10 years to start investing you’ll have to set aside nearly $20,000 a year.
    Start early with whatever you can afford. It will make life much easier later.

    Profile photo of ALF1ALF1
    Participant
    @alf1
    Join Date: 2011
    Post Count: 237

     Buy properties that appeal to renters?

    For your investment property to be successful you need tenants.  Therefore you must consider their needs so your investment property is always occupied.

    • Shopping – make sure your investment has a large shopping centre within ten minutes
    • Lifestyle – lifestyle choices are also very important – look for parks, proximity to beaches, theatres, movies and other points of interest.
    • Job Catchment Areas – tenants need employment, so look for properties that have industry infrastructure that will supply jobs.
    • Schools – look for a selection of schools and early learning establishments close by.
    • Transport – Transportation is always a big issue now and in the future, so make sure there is good access to public transport and to major arterial roads.
    • Owner-Occupiers – good investment areas have a high level of owner-occupiers.
    Profile photo of realtypinrealtypin
    Member
    @realtypin
    Join Date: 2011
    Post Count: 1

    TIPS for buying a new home.
    Run a credit check on yourself and verify that the information is correct. Talk to your mortgage professional about how much home you can afford and get pre-approved before you start looking. Make a list of what you want, need, and don't want in a home.  Investigate the areas and price ranges for the type of home you are looking for. As you begin the search for a new home, this is an ideal time to make sure that your finances are in order and to set up your financial plan for the future.
    __________________________________________________
    Looking for your dream home just click:- realty or mortgage rates.

    Profile photo of TimmersTimmers
    Member
    @timmers
    Join Date: 2011
    Post Count: 3

    Here are some tips for real estate investors:

    Avoid rental vacancies.
    Take advantage of free money, particularly during a rehab or when maintenance on a property is required, getting your hands on capital can be a challenge.
    Understand portfolio lending.
    Respond to tenant calls quickly.
    Include maintenance costs in your financial forecasts.

    Profile photo of mortageperthmortageperth
    Member
    @mortageperth
    Join Date: 2011
    Post Count: 1

    Thanks for the great TIPS what can i add more you said it all :)

    Profile photo of Ryan EbertRyan Ebert
    Member
    @ryan-ebert
    Join Date: 2011
    Post Count: 2

    Hey everyone very new to this I’ve read in the book about using the forums to properties to the attention of buyers for a spotter fee in Chapter 16 in Flips and was wondering where to post these?
    Cheers

    Profile photo of BuyLandOnLineBuyLandOnLine
    Participant
    @buylandonline
    Join Date: 2011
    Post Count: 17

    That is a very good tip about checking all the information and facts provided by real estate agents… remember they are only human and can make mistakes, plus they only make money when they sell property, so why would they ever tell you not to buy a property? Even though they  represent the buyer or the seller their business is to make the deal happen.

    Profile photo of BuyLandOnLineBuyLandOnLine
    Participant
    @buylandonline
    Join Date: 2011
    Post Count: 17
    J.Smith wrote:
    TIP,
    Always do research. You can never do enough research. A lot of people dive into the property market head first and blind folded, and that’s when people make bad purchases. If you like a property, find out about the surrounding area; find out the local crime rate, find out how much properties in the area recently sold for. Find out EVERYTHING. There are tonnes of websites out there that will give you all these details at no cost.

    J.Smith

     One of the tools I use every day is Google Earth. I can view properties and in most urban and suburban areas in the U.S.A. – take a virtual drive down the street.

    Profile photo of garrymacgarrymac
    Member
    @garrymac
    Join Date: 2010
    Post Count: 11

    I can’t tell you the number of times our clients have been refused finance OR at least ‘put through the ringer’ by their existing financier when looking to grow their property portfolio.
    As long as you have completed your budget and are confident you can afford to continue investing, don’t give up. There is usually (if not always) a way to secure the necessary finance…we see this time and time again. Get yourself a great Mortgage Broker and they will usually be able to help you secure finance.

    Cheers
    Garry

    Profile photo of robrokrobrok
    Member
    @robrok
    Join Date: 2009
    Post Count: 13

    If you take the time. And I suggest you do. To read all of the post here you will learn some amazing things

    Here is my contribution

    1.start investing no matter what you skill and experience an no matter how small the value as it will lead to larger things. Nothing ventured nothing gained
    2. Proper planning prevents poor performance ( the three p’s) works for everything
    3. Everything is a learning experience even if you lose money There are companies out there that will not hire a person unless they have experienced a severe financial loss due to the the character building and financial experience it gives them.
    4 do not let non investors discourage our ostracize you
    5. Follow your dream or passion your gut feel will give you direction

    All the best

    Rob

    Profile photo of mafarellymafarelly
    Member
    @mafarelly
    Join Date: 2011
    Post Count: 5

    My top tips:
    – Have a plan, with a defined goal and a deadline to acheive it by. You won't acheive a goal if you haven't defined it and set a deadline to achieve it by.
    – Find a wise mentor who can give you worthwhile, prudent and trusted advice.
    – Use a workable, proven and effective system to manage your investments
    – Ensure the data and advice you are being given is accurate and based on sound principles and proven strategies
    – Avoid the temptation to "get rich quick"

    <moderator: delete advertising>

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