Forum LIVE! at SIG : Tuesday 20th September
- Thread starter Peter 14.7
- Start date
Peter and the panel,
Just wanted to post a big thanks to you for an excellent evening last night! Kay said that it was the best SIG she has been to so far and that includes Steve Navra and Kieran Trass!
So two thumbs up to the excellent panel and their "real world" responses.
I want to add a particular thanks to Peter for all the work he has put in organising SIG over the last year, its obviously a big job and requires a special person to be willing to do so for no tangible recompense. And good luck Perky! You'll be fine filling Peter's shoes and if you need any help organising the likes of NickM or others then let me know and I might be able to press some Navra-esque buttons to help oil the wheels.
Thanks to all involved for an awesome night.
Cheers,
Michael, Kay and Cranky (well not so cranky last night )
Just wanted to post a big thanks to you for an excellent evening last night! Kay said that it was the best SIG she has been to so far and that includes Steve Navra and Kieran Trass!
So two thumbs up to the excellent panel and their "real world" responses.I want to add a particular thanks to Peter for all the work he has put in organising SIG over the last year, its obviously a big job and requires a special person to be willing to do so for no tangible recompense. And good luck Perky! You'll be fine filling Peter's shoes and if you need any help organising the likes of NickM or others then let me know and I might be able to press some Navra-esque buttons to help oil the wheels.
Thanks to all involved for an awesome night.
Cheers,
Michael, Kay and Cranky (well not so cranky last night
)
Hi all.
Also just wanted to say thanks to all involved at last nights SIG meeting.
It's always good to see/hear what others are doing, and the big thing that I personally picked up on is that there is no one way to go about your investing, we must work out what suits us as individuals and go from there.
To Peter, thanks for what you've done in the past, and good luck today (hopefully) with the population growth in your immediate family.
Regards
Marty
Also just wanted to say thanks to all involved at last nights SIG meeting.
It's always good to see/hear what others are doing, and the big thing that I personally picked up on is that there is no one way to go about your investing, we must work out what suits us as individuals and go from there.
To Peter, thanks for what you've done in the past, and good luck today (hopefully) with the population growth
in your immediate family.Regards
Marty
Dear All
Yes, it did go really well last night. So many people have commented favourably on the format.
Thanks to:
Ani
Ross
Andreas (HandyAndy)
Karina
Joanna(K)
A lot was spoken and i will post the insights shortly.
Peter 147
Yes, it did go really well last night. So many people have commented favourably on the format.
Thanks to:
Ani
Ross
Andreas (HandyAndy)
Karina
Joanna(K)
A lot was spoken and i will post the insights shortly.
Peter 147
A big thanks for organising this event Peter, and to all the speakers who volunteered to speak up.
I picked up a lot of ideas from the evening.
On the way home, I thought of a question I should have asked to Karina. She might able to answer on the forum instead.
Karina, how did you get around the serviceability issue to acquire so many properties so quickly? Was it because you were targeting high yield properties that you were able to buy so many?
Cheers,
I picked up a lot of ideas from the evening.
On the way home, I thought of a question I should have asked to Karina. She might able to answer on the forum instead.
Karina, how did you get around the serviceability issue to acquire so many properties so quickly? Was it because you were targeting high yield properties that you were able to buy so many?
Cheers,
Jacque said:Always interesting and insightful to hear fellow investors speak of their own experiences, strategies and love for the property game
Well done to all you speakers and thanks Peter for your organisation of these events so far.
Looking forward to the next SIG
It will be a good one
I will post details soon.
Hello All
Here is the feedback as I remember to the questions put.
Their Driving Reason to Invest?
Fear of No Pensions or Little Pension, Enjoyment at Investing, Wanting to be in control.
The 3 Essential Things you MUST have to Invest in Property!
Self Belief, Drive, Money helps but NOT essential , having ago is more essential. Action!!!
Their Best and Worst (if any) Decisions and WHY?
Interestingly it was mostly the "worst: that came up. Included not buying a property they knew they should have and/or selling one they should not.
Two Panellists listed buying vacant land as the worst decision which they bith where still trying to solve. Don’t buy vacant land with no income!
Their Strategy has it changed recently, why, etc.
Not changed but evolved. All ignore the market doom and gloom and simply look further a field for the bargains.
Spotting Bargains, the work involved and how to…Research, Research and Research. Bargains are every day but you need to be able to recognise them.
What they see for the future,
Recovery in 2007/8 but WA is still good buing at the moment. Geraldton a hot spot.
If they were starting out NOW, what would they do?
Start a lot younger
Summary
There are still bargains and you simply have to research and be prepared. Ignore the cycle and get into it!
Then we have general question with a bitch about LAND TAX.
So in closing I have passed SIG duties to Perky 29.
Using the Latham excuse” I want to spend more time with my family” I promise not to release a tell all book.
It had been a pleasure and I look forward to joining See change and Michael at the back heckling!
Regards,
Peter 147
SIG Coordinator (retired)
Here is the feedback as I remember to the questions put.
Their Driving Reason to Invest?
Fear of No Pensions or Little Pension, Enjoyment at Investing, Wanting to be in control.
The 3 Essential Things you MUST have to Invest in Property!
Self Belief, Drive, Money helps but NOT essential , having ago is more essential. Action!!!
Their Best and Worst (if any) Decisions and WHY?
Interestingly it was mostly the "worst: that came up. Included not buying a property they knew they should have and/or selling one they should not.
Two Panellists listed buying vacant land as the worst decision which they bith where still trying to solve. Don’t buy vacant land with no income!
Their Strategy has it changed recently, why, etc.
Not changed but evolved. All ignore the market doom and gloom and simply look further a field for the bargains.
Spotting Bargains, the work involved and how to…Research, Research and Research. Bargains are every day but you need to be able to recognise them.
What they see for the future,
Recovery in 2007/8 but WA is still good buing at the moment. Geraldton a hot spot.
If they were starting out NOW, what would they do?
Start a lot younger
Summary
There are still bargains and you simply have to research and be prepared. Ignore the cycle and get into it!
Then we have general question with a bitch about LAND TAX.
So in closing I have passed SIG duties to Perky 29.
Using the Latham excuse” I want to spend more time with my family” I promise not to release a tell all book.
It had been a pleasure and I look forward to joining See change and Michael at the back heckling!
Regards,
Peter 147
SIG Coordinator (retired)
Hi Housekeeper,
Sorry for taking so long to respond to your question
"Karina, how did you get around the serviceability issue to acquire so many properties so quickly? Was it because you were targeting high yield properties that you were able to buy so many?"
This certainly was not easy! I initially went from bank to bank then found a great lender who undeerstands what I am trying to achieve and backs me all the way (I even wrote a business plan for him highlighting past performance, strengths of the portfolio, possible risks and how I planned to overcome them).I don´t know what I would do without him actually. I have also sold a couple along the way to improve cashflow and when I got really stuck with servicability went low doc for a loan or 2, then sold down and back to full doc. I have used security substitutions at times to make things work also.
Definitly buying on "healthy rental yields " was absolutly key for me. I simply couldn´t have continued if I had bought on 3,4% yields. I guess most of my purchases would be within the 7-12% rental yield range. Also they were not big deals , most of the properties were under $100k with a couple between $100k-$150k and the odd deal just above that but still under 200k.
For me taking lots of small steps was a good strategy for my situation. (I have never been a high income earner)
Sorry for taking so long to respond to your question
"Karina, how did you get around the serviceability issue to acquire so many properties so quickly? Was it because you were targeting high yield properties that you were able to buy so many?"
This certainly was not easy! I initially went from bank to bank then found a great lender who undeerstands what I am trying to achieve and backs me all the way (I even wrote a business plan for him highlighting past performance, strengths of the portfolio, possible risks and how I planned to overcome them).I don´t know what I would do without him actually. I have also sold a couple along the way to improve cashflow and when I got really stuck with servicability went low doc for a loan or 2, then sold down and back to full doc. I have used security substitutions at times to make things work also.
Definitly buying on "healthy rental yields " was absolutly key for me. I simply couldn´t have continued if I had bought on 3,4% yields. I guess most of my purchases would be within the 7-12% rental yield range. Also they were not big deals , most of the properties were under $100k with a couple between $100k-$150k and the odd deal just above that but still under 200k.
For me taking lots of small steps was a good strategy for my situation. (I have never been a high income earner)
