The Interview #5

interesting interview as usual.

what really stood out was rossv's quote "Don't fret about borrowing, the difference between $100,000 and $1,000,000 is ... 0" ... love it.
 
Excellent reading and thank-you to Rossv for doing this interview - extremely interesting and thought provoking.

I especially liked and appreciated Ross's advice for dealing with the next 12 months.

Well done : )

Best Wishes

Corsa
 
This interview was an interesting read..do you buy properties to renovate and then sell straight aftewards Rossv, or do you rent all the properties you buy?

Kate
 
Hi,

Each deal varies kate, but atm i'm not big on just holding as i wouldn't expect very much (if any) CG.
This may change as the market changes.
Of course i have held some properties along the way, but i see little advantage in holding in a flat market when i can make that money work a lot more efficiently.


rossv
 
Ohmigod!!!! The man of few words has finally spilled his guts (well, almost!)

Thanks Ross- though I'm still awaiting pics of that long term reno tumbledown house somewhere in regional NSW- please tell me it's finished :D ;)
 
Thanks Ross - really interesting perspective

Thanks Ruby for a very interesting series of interviews, each one has been well written and shown a different idea of investing.

Chris
 
"Don't fret about borrowing, the difference between $100,000 and $1,000,000 is ... 0"
-i'm scratching my head trying to figure this one out. do you mean if you buy a 100,000 IP you can make money as well?... but in sydney nothing is for 100,000 :(

-otherwise, the difference is 900,000 (i couldnt resist!)
 
lowb said:
"Don't fret about borrowing, the difference between $100,000 and $1,000,000 is ... 0"
-i'm scratching my head trying to figure this one out. do you mean if you buy a 100,000 IP you can make money as well?... but in sydney nothing is for 100,000 :(

-otherwise, the difference is 900,000 (i couldnt resist!)
Click to expand...

I think what he's saying is, $1m is only a number. There's no real significance. It's all about the underlying investment. i.e. $1m in debt isn't necessarily 'riskier' or more worrying thatn $100k in debt. Similarly, buying a $1m property isn't necessarily any better than buying a $100k property.

This is a VERY important point about investor mentality. A lot of people fret about how they can afford that much debt. Once you get there, it's just another day. The things you think about when considering how to service $100k in debt is no different to when considering how to service $1m in debt.

Didn't that Cabramatta unit go for <$100k?
Alex
 
G'day Rossv,
Ruby said:
Ross is a man of very few words, so I know it wasn’t easy for him.
Click to expand...
Your words might've been minimal, but the lessons coming from those words are enormous - thanks for putting it out there.

And to you too, Ruby - thanks mate,

Regards,
 
Another good interview thankyou to those involved.
I enjoyed the read and the classics within it.
WellDone rossv on your success to date.
cheers yadreamin
 
Jacque said:
Ohmigod!!!! The man of few words has finally spilled his guts (well, almost!)

Thanks Ross- though I'm still awaiting pics of that long term reno tumbledown house somewhere in regional NSW- please tell me it's finished :D ;)
Click to expand...

You mean this one jacque?

55POL_0196.JPG


000_0204.JPG


The one with a 28% yield and CG of 300% ..... :p


rossv
 
Last edited by a moderator:
Hi alex,

No i don't think there was a thread

very briefly, its in a town called tumbarumba. I bought some stuff there because $150m was being spent to build a sawmill.

purchase price $29,000
costs (including reno) $10,000

The place is split into two flats a 1 br and a 2br

I actually only have the 1br tenanted because i use the other side for somewhere to stay when i'm in town.

1Br rent $105/w
2BR rent $125/w

value today .. about $120K



rossv
 
I'm sorry to bring an old thread up...but I couldn't resist!

It's so interesting to read about how different people make different techniques work for them...
 
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