Must be why they're flogging their training courses and onsite visits, etc so hard - they need the cashflow!! 
Bought a house for $22,000
- Thread starter engelo10
- Start date
Must be why they're flogging their training courses and onsite visits, etc so hard - they need the cashflow!!
Good point,
How much do they charge for a course? hihi
$80k is pretty poor for a portfolio of there size IMO.
Cashflow is king but then again I guess it all depends on your strategy.
They might be growth orientated.
With a portfolio of that size, i would be looking at capital preservation and cashflow than growth...
Definetly agree.
Doesn't look good from the Tax Office's perspective.
Why not? If it's structured legally, then the ATO will be "satisfied", no?
They don't pay tax - $0's due to the way their debt is structured.
That is pretty cool then.
Hi guys,
Below is a link to a video of the Coonamble property. Enjoy.
http://www.youtube.com/watch?v=z1Y5Xkgxkx0
Engelo
Below is a link to a video of the Coonamble property. Enjoy.
http://www.youtube.com/watch?v=z1Y5Xkgxkx0
Engelo
Well done on the purchase.I will be a touch negative here and share my thoughts.I have over the years bought cheap houses in places even google maps has trouble finding.My experiences are the tenant pool is very low,old houses with a cosmetic makeover can still turn into expensive money pits,the socio problems seem to be never ending,and finding a good PM willing to manage them is a nightmare.then you decide to sell......sometimes it takes years to attract a buyer.The saying cheap is never good and you get what you pay is too true.Its all well and good to have a cheap property portfolio,but i would advise you old houses are high maintenance and costly to keep up with.Been there done that.If the poulation is under 5000 people,avoid like the plague.
Hey guys,
Just sold Coonamble for $35,000 without touching a brush haha
I am pretty happy with a $10,000 profit for signing a few pieces of paper
I was too busy with other renovations I am currently doing so I didnt want the headache of this one also. There is money in the deal even at a purchase price of $35,000. There were so many offers on the property and so many people pulling out last second. I find it hard to believe how people are scared to make money even tho I was willing to accept a lower price so the new buyer could also make a profit. Once the new buyer completes the renovation the property will definetly be worth around $80,000 minimum. I had all trades organized and ready to go at a cost of around $20,000 and this is without me doing any work.
Regards,
Engelo
Just sold Coonamble for $35,000 without touching a brush haha
I am pretty happy with a $10,000 profit for signing a few pieces of paper
I was too busy with other renovations I am currently doing so I didnt want the headache of this one also. There is money in the deal even at a purchase price of $35,000. There were so many offers on the property and so many people pulling out last second. I find it hard to believe how people are scared to make money even tho I was willing to accept a lower price so the new buyer could also make a profit. Once the new buyer completes the renovation the property will definetly be worth around $80,000 minimum. I had all trades organized and ready to go at a cost of around $20,000 and this is without me doing any work.
Regards,
Engelo
Hey guys,
Just sold Coonamble for $35,000 without touching a brush haha
I am pretty happy with a $10,000 profit for signing a few pieces of paper
I was too busy with other renovations I am currently doing so I didnt want the headache of this one also. There is money in the deal even at a purchase price of $35,000. There were so many offers on the property and so many people pulling out last second. I find it hard to believe how people are scared to make money even tho I was willing to accept a lower price so the new buyer could also make a profit. Once the new buyer completes the renovation the property will definetly be worth around $80,000 minimum. I had all trades organized and ready to go at a cost of around $20,000 and this is without me doing any work.
Regards,
Engelo
Very nice Engelo!
not bad whilst most people slave away 40 hours a week for 2 months to make 10k!
Good job mate... Give me a call next week yeah? Would be good to catch up.
