Shouldn't that be bull instead of horse?
Any see the Nathan Birch interview with Kochie on Sunrise?
- Thread starter GaryA
- Start date
Shouldn't that be bull instead of horse?
There's no doubt that Nathan has done well for himself and good on him.
But if your going to start spruiking your services to the public you've got to expect your approach to be challenged and Kochie had him well and truly covered.
RC
But if your going to start spruiking your services to the public you've got to expect your approach to be challenged and Kochie had him well and truly covered.
RC
I just read some of those comments and I nearly threw up.
Most sound like uneducated diks (go back to school you vankers!...get a life and one day you might be on TV!) You gotta laugh.
Here's one of the comments !LMAO
Yeah exactly. Get a load of it. Absolute garbage.
If this fella was my tenant I'd be jacking the rent up from tomorrow and I'd be LMAO in front of him.
Just be grateful that they exist , otherwise who would rent our IP's
Cliff
Cliff
Last edited:
Just be grateful that they exist , otherwise who would rent our IP's
Cliff
Yeah I suppose that's a fair point.
But I'd still jack the rent up
Hey Simtr,
It actually is "horse" lollol
The saying does not sound the greatest when translated into English but I believe it still gets the point across.
Thanks for you comment.
Spot on....wonder whether you guys have read the "Pied Piper"......
A saying from the old country...."all that glitters is not gold"!
A saying from the old country...."all that glitters is not gold"!
Very low growth area and not an easy area to sell.
$150 x 52 = $7,800
$89,000 on 5% = $4,450
that's $3,350 cash flow...but once you add in agent repairs, maintenance and insurance ( insurance is NOT CHEAP in moree..as it's a known flood area)- net cash flow doesn't look as pretty ..and chuck in ONE repair cost ie broken hot water system or leaking pipe = gg!
**land tax ~$60 per sq meter in this area so $60 x 831 = $49,860 FYI.
$150 x 52 = $7,800
$89,000 on 5% = $4,450
that's $3,350 cash flow...but once you add in agent repairs, maintenance and insurance ( insurance is NOT CHEAP in moree..as it's a known flood area)- net cash flow doesn't look as pretty ..and chuck in ONE repair cost ie broken hot water system or leaking pipe = gg!
**land tax ~$60 per sq meter in this area so $60 x 831 = $49,860 FYI.
Hi jmillar,
Most of the agents in Moree or other regional towns don't have access to foreign investors.
I also used an agent in Sydney to sell a property I flipped in Coonamble.
He found a buyer in 3 weeks.
Thanks for reading and have a great day.
Interesting. I looked up this property on RPdata and found the following:
Sales History
10/1996 - $30,000
06/2005 - $40,000
06/2011 - $50,000 (Nathan as purchaser)
Listed by LJ Hooker Cabramatta - $105,000 in Feb 2012 for 130 days. No sale
Listed by LJ Hooker Cabramatta - $89,000 in Mar 2014
Guess Koshie was right to question it. These properties are clearly not easy to sell. In Sydney the market was "flat" in 2012 and early 2013. It picked up dramatically in mid 2013.... this place in Moree as gone on the other way (using Nathan's prediction of growth - he thought the property in Moree was worth more in 2012 than 2014).
I guess its still ok, seeing if Nathan sells it for $89k, he still makes $39k (ignore whatever renos he made and agent costs etc). Percentage wise it looks good, dollar wise (where it really counts) looks pretty crap.
Anyone buying a house out West or a unit in the inner west could have achieved way more in terms of dollar using the same period (even after you factor in the negative gearing). And offloading these houses in Sydney would be way easier!
saying a property is worth x amount is not necessarily true unless it is actually sold for that amount. sometimes, timing, position and lots of other factors play into it.
take the block auction for e.g. didn't think their apartment was any good but due to few buyers missing out till the very end. had they auction first, they would not be the winners. timing was their factor being last.
take the block auction for e.g. didn't think their apartment was any good but due to few buyers missing out till the very end. had they auction first, they would not be the winners. timing was their factor being last.
Because no Moree agent would sell that house....to many hassles...and locals would steer clear.....
This is a great post.
It will always be the unknown until your solicitor calls and says we have settled and the funds have been transferred haha
Here is a more in depth one which will paint a less rosy picture unfortunately,
INCOME
$150 (8.7% yield) x 52 = $7,800
Total: $7800
EXPENSES
$89,000 on 5% = $4,450
$686 in management fees (8.8%)
$800 insurance
$400 Maintenance
$1200 Rates
$200 Water Access
Total: $7736
net position: $64 cashflow positive per year
thats best case scenario with NO vacancies and 100% tenancy. Also not including leasing fee , and assuming $200 maintenance twice per year, as Mick C says, one broken HWS and your property is cashflow negative
Very true.
Typically you need at least $200pw to really get cashflow property. Anything less your fixed expenses are eat into your cash flow.
The builder I am building with in WA bought a couple of properties in Moree...he told me it was a nightmare to move the properties on (i.e. sell them) he made a loss....
Be careful of buying in regional areas they need to be reasonably large and witha diversified economy to on sell places at a later date.
Whilst some claim that over 100 properties...I would be more impressed if they were in capital cities. Having them in small regional cities might give you CF....it will hurt if you had to sell in a hurry.
Typically you need at least $200pw to really get cashflow property. Anything less your fixed expenses are eat into your cash flow.
The builder I am building with in WA bought a couple of properties in Moree...he told me it was a nightmare to move the properties on (i.e. sell them) he made a loss....
Be careful of buying in regional areas they need to be reasonably large and witha diversified economy to on sell places at a later date.
Whilst some claim that over 100 properties...I would be more impressed if they were in capital cities. Having them in small regional cities might give you CF....it will hurt if you had to sell in a hurry.
Kochie's comments made me laugh. And the girls comment "16 properties.. How does anyone have the tine for that!" making fun at the savvy investor
I changed the channel and wished them good luck for the next 40 years in the rat race. They're gonna need it
I changed the channel and wished them good luck for the next 40 years in the rat race. They're gonna need it
