Recent content by redlake2

I buy in different cities and locations I like to buy in different areas as it is not always an advantage to buy the best deals locally. I do all my research via the internet and telephone calls. There are heaps of things that you can do to get all the information yourself. Check out...

Good on you Nathan Great story Nathan, you deserve the rewards in life that your hard work will bring you. Are all of your properties positive cash flow?

Just being honest The above is the system I use and it works. The vendor is interested in the sale, not the deposit. If they take the size of the deposit as to how genuine I am then too bad. In Western Australia every agent has to legally present the offer regardless. I don't make offers...

Congradulations Good on you Brendon. Way to go! Don't stop at two, always keep your focus on more in the future. :-)

Yep, stop the kids watching the news. Back in my day I think that they called this allowance child endowment and was to be used as clothes and school books. Nowadays I would make a nice payment onto my bad debt mortgage as this is also helping the child keep a roof over their head. :-) I...

Don't put an offer in on all the houses I am in WA and I would not recommend that you put more than one offer in at a time. I put an offer in with a clause that the offer is only available for a 24 hour period. If the vendor is a shift worker then I give a 48 hour clause. That way I am...

I hate shopping In everyone's local city or area there is generally a bulk supplier that supplies the smaller supermarkets. I am in Perth and it is called Cash and Carry. They have 2 in Perth and one in Bunbury. I don't know the detail of the prices because I hate shopping I don't look. I...

Bargain Bargain, Good on you. :)

Bought my first in 1994 I bought my first property in 1994 then had to wait a huge 9 years before I was in a position to move further. Then bought one in 2003, another in 2004, and the last in 2006. I think those are my dates. I have always used the previous lot of equity and I wait until they...

I have one in Elizabeth I have a two bedroom unit, about 5 years old in Elizabeth. It rents for $195 per week.

Sounds Ok It sounds like a good deal. Salisbury is a good area and the block size is good. Council's are not always conducive to L shaped subdivisions so you could phone the council and ask to speak to the planner and ask his advice. Make sure you do this before purchase. The deal will...

They should never have lent them the money in the first place They should never have lent the sub-prime money in the first place. In Australia we have to have a deposit of some sort and proof of income to show that we can repay the loan. Why should the USA have different rules? The banks...

Yes - go ahead and buy It doesn't matter what year it is or what type of market it is there will always be skeptics that tell you to listen to the negativity of the media and don't buy. If you can afford it and find something good where the numbers add up then go for it. While some areas of...

Make your new property cash flow positive Of the 60K that you have work out how much to pay off the loan to make it cash flow positive so that the tenant + gov benefits are paying for the loan. i.e. rental_income_per_year / current_interest_rate = Amount_required_to_make_cash_flow_positive...

I wrote my own I am a programmer and got annoyed having to redo my calcs. So I wrote my own basic simple one and put it on the net with my new and incomplete blog. It is at http://www.denisemcnerney.com/Calculator/LVR.php I use an excel spreadsheet to keep my permanent values but find it...