All Topics / Help Needed! / How to excel in the Property Game

Viewing 7 posts - 1 through 7 (of 7 total)
  • Profile photo of Amit ThakerAmit Thaker
    Participant
    @amit-thaker
    Join Date: 2009
    Post Count: 46

    Hi all,

    I wondering if someone could advise me on my approach on pulling cash out of property game.

    I want to pull out cash as quick as I can but the first thing what stops me dead in my track is available cash-on-hand and experience. Ideas I have are sub dividing a lot then sell the land and property, sub divide a lot then build and sell etc… I own a unit with decent equity but I don’t want to use in something which i have not done before.

    Can anyone please be kind enough to advise how overcome cash and experience problems?

    Thank you in advance.

    Cheers
    A

    Profile photo of Amit ThakerAmit Thaker
    Participant
    @amit-thaker
    Join Date: 2009
    Post Count: 46

    For experience I am more than willing to WORK FOR FREE!! for a commitment of over 12months. I am not selling anything just offering my hand to a willing mentor/teacher. And let me tell you, you won’t be disappointed.

    Profile photo of luke86luke86
    Participant
    @luke86
    Join Date: 2010
    Post Count: 470

    Hi Amit- Correct me if I am wrong but you are looking for a scheme where you can make large amounts of money without using any of your own money and without any experience?

    If you have some equity in your home then you can use this to obtain a line of credit to use for investing. You could start by doing a small subdivision project or small development and by educating yourself, using good consultants and perhaps having someone who has done these projects before to help you out you can minimise the risk.

    Profile photo of Amit ThakerAmit Thaker
    Participant
    @amit-thaker
    Join Date: 2009
    Post Count: 46

    Hi Luke,

    I don’t think there will anywhere in the world I will be able to make large amount without putting any of my own first :). Didn’t really mean that by hey if its possible then YES PLEASE!

    I do have decent equity in my Unit which I could use. Do you mean subdivide and sell?

    What are some good place to self educate in subdivision and/or property development. I didnt knew there are consultants out there. Any good one you know of?

    In fact I am looking for someone who has or is doing development and may be I can tag along by helping them out be it anything just to know the process and how its done. I am willing student so if any mentors out there would like dedicated, keen and reliable person. I could be the one.

    Regards
    Amit

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Hi Amit

    I dont want to appear negative but your opening title concerns me a little "How to Excel in the Property Game".

    I hate to say Property investment is not a game but a business and must be treated as such.

    You need to have the same mental state and attitude as you would do if you were sitting an exam, learning a foreign language etc. You need to be focused, educated and learn from others along the way.

    In regards to your comment regarding how you access equity this is a question i get asked often.

    Obviously without having any hard data to hand it is difficult to provide much of summary but in essence you would want to establish an equity line or line of credit sitting behind your current PPOR loan and then utilise this for the deposit, acqusition costs and any ongoing expenses i.e subdivision costs etc.

    As i say i am not sure of your income details or indeed you current value / loan or lender so i would need this to answer the question fully.

    Just remember set up the foundations from day 1, structure the loans correctly and the rest will flow.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Amit ThakerAmit Thaker
    Participant
    @amit-thaker
    Join Date: 2009
    Post Count: 46
    Qlds007 wrote:
    Hi Amit

    I dont want to appear negative but your opening title concerns me a little "How to Excel in the Property Game".

    I hate to say Property investment is not a game but a business and must be treated as such.

    No you don’t appear negative at all. Property investing is surely a business but its too serious of a name for something you love so much. So I decided to make a little more relaxing but by maintaining the focus and discipline required. But thanks for point it out, it just goes to show how it could come across to others and I appreciate it.

    Qlds007 wrote:
    You need to have the same mental state and attitude as you would do if you were sitting an exam, learning a foreign language etc. You need to be focused, educated and learn from others along the way.

    I could not agree more. And I plan do exactly that.

    Qlds007 wrote:
    In regards to your comment regarding how you access equity this is a question i get asked often.

    Obviously without having any hard data to hand it is difficult to provide much of summary but in essence you would want to establish an equity line or line of credit sitting behind your current PPOR loan and then utilise this for the deposit, acqusition costs and any ongoing expenses i.e subdivision costs etc.

    That makes sense.

    Qlds007 wrote:
    As i say i am not sure of your income details or indeed you current value / loan or lender so i would need this to answer the question fully.

    Thanks for that. You sound like a guy who know what you are talking about. If you are willing I am happy to give the details required to get a proper answer. Please let me know.

    Qlds007 wrote:
    Just remember set up the foundations from day 1, structure the loans correctly and the rest will flow.

    I would assume structures would fit different people differently. Any advise on where I could find types of structure and will make up my mind from there.

    Cheers
    A

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Hi Amit

    Sure if you wanted to drop me a quick email with some basic figures i can come back to you with a short assessment.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

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