Forum LIVE! at SIG : Tuesday 20th September
- Thread starter Peter 14.7
- Start date
Phil_H said:Welding Mask
Just in case you accidentally get a flash ?
bump Peter 147
Kenny said:Hello Peter,
Are we allowed to heckle?
Regards,
Kenny
PS. All the best for 21st (due date?) BTW.
Never stopped you before
And thanks for the well wishes
Peter 147
GeorgesA said:Maybe someone can hook up a live web cam feed for gazvic....
We will have Sim the IT Guru there so maybee is it possible but I assume it will be too hard. I will enquire.
I will promise to post a post mortum.
Peter 147
Sim said:I've had to promise certain participants in this event that there will NOT be a live feed to anywhere
Settles that one
Peter 147
Karina's Story & Tips
For those thinking about coming to Forum LIVE here is one of the panel members story.
Karina's story is a clear statement it only takes application to be sucessful despite the setbacks we will all encounter.
Reproduced with her permission from a great thread at:
http://www.somersoft.com/forums/showthread.php?t=21333&highlight=karina
With thanks, Peter 147
Karina's Story & Tips
Just over 5 years ago my marraige broke down and I found myself divorced and living with my parents. I wouldn't wish it on anyone , a really difficult time in my life.
After a year or so I decided to buy my own place and settled on a unit in sydney. I was having a chat with a friend of mine that was really into wealth creation at the time and he mentioned a book he had read and suggested I read it. "rich dad , poor dad , by Robert Kiyosaki" The book really opened my eyes as to the power of real estate and motivated me to read more and get out there and buy more property.
I stumbled across another book by John Fitzgerald "7 steps to wealth" which taught me some great lessons like , land appreciates, buildings depreciate so from now I on I was set on buying affordable houses instead of units which has been a good strategy for me.
I was also introduced to the concept of the property cycle and during John Fitzgerald's seminar (it is advertised at the back of the book) in 2000 the presenter showed us information that suggested that brisbane prices start to rise after sydney prices start to boom. The presenter was recommending brisbane as the place to invest (of course they were selling property there, but I wasn't really interested in buying off them, feel more comfortable soucing my own deals)
I had never really considered buying properties interstate but after spending hours on the internet checking out brisbane I thought it was worth a look as prices were so much cheaper than sydney and it was easier to find properties there that were close to nuetrally geared than it was in sydney.
After doing some searches of key words like " boom suburbs, hot property" in yahoo search engine I came across some articles that suggested that redcliffe was an undervalued suburb , prices started at around 80k at the time so I booked a flight to brisbane and off I went to buy some property. I had a budget of $216k to work with and on that weekend I bought 2 houses. One for $108,000 renting for $140 per week and the other for $107,500 renting for the same.
When I was booking the flight over the phone I asked if she could organise accomodation in redcliffe and she asked me why on earth I was going to redcliffe to buy property, she said brisbane prices don't go up in fact she had a place and sold it because they never go up there and that redcliffe is a dump! ...hmmmm I thought not a good start. (lesson number 2, be careful of who's advise you take , it could cost you a lot of money)
Anyway flight was booked and I was going to have a look. Spent the whole weekend looking at properties (I had lined up appointments with agents in advance so had the 2 days fully booked) Offered on 2 houses and signed contracts on the monday.
When I returned I told a good friend of mine what I had done and he was a bit concerned suggested that I should only buy 1 not 2....also called my other friend the one that suggested I read the kiyosaki book and he told me to be careful not to buy in brisbane that all these people are getting ripped off....so as you can see I didn't have that much encourgament...except for my parents that thought it was great, they have always been supportive.
My strategy at the time was that in 5-10 years when prices doubled I could sell 1 and pay the other 1 off in full. Prices went crazy in QLD and 3 years later I sold one of them in the 280's
My first 3 purchases all occured in 2000. A few months after my purchase I was questioning whether I had done the right thing so you do go through that self doubt.
I then got a little distracted from investing as I met the man that is now my husband but that is another story all together so I will stick to property.
In 2002 a friend of mine asked me if I would go to brisbane with her and help her buy a property I thought sure why not and in the excitment of it all I bought another 2 properties. A similar property in redcliffe to what I orginally bought except it now cost me 145k and a house in redland bay for 167k
I then met through a property forum a young lady that was into positive cashflow, she had purchased many properties and spoke about buying blocks of units and properties that generated multiple rents. I had never heard of such a thing. I thought what a good idea...She mentioned that she had bought a house with 2 flats in broken hill for 49k and was getting 250 in rent...I though what the...so I had a dabble in positive cashflow ended up buying a block of 4 x 2 bedroom units for 175k renting for 440 per week. Also bought a house in elliott heads QLD for 150k (later sold for 225k) and and a house in sandy beach NSW for 169k (later sold for 215k)
I then read some more books, Jan Somers , Peter Spann and one that really stood out for me..."Ordinary Millionares by Jim McNight" it's a book about how ordinary people have become millionares through property investment and each chapter is dedicated to someone's story. Each story uses a different strategy but they all end up at the same place...financially free
I found chapter 4 Jesse's story fascinating, it talked about a guy that bought houses off the department of housing in Elizabeth SA for 25k and rented them for $60 per week, rents then rose to $95.00 and he had bought a stack of them , paid them of in cash after a number of years. It was an amazing story.
One night whilst searching for deals on the web I came across a house for 63k in geraldton WA (brick and tile, about 20 years old fully renovated) I rang the agent (this was Jan 2004) and he told me that there was nothing wrong with the house that it was the cheapest brick house in town but that it was in the worst street in town , there was a family fueding there. He said that he couldn't guarantee that I would get a good tenant but that in 12 months the area would improve as the dept of housing sold off houses in the street. He offered me another home he had for sale that was also renovated but fibro at the same price but in a better part of town so I bought that one along with 4 others in the 70,000 range, rents were 125 - 150 per week.
Having another chat with the agent about the house in the bad street I told him that I knew I would kick myself in 12 months if I didn't buy it now so I asked him to send me a contract and asked if the vendor (it was the dept of housing) would allow me to have a 6 month settlement. Somehow they just signed my offer without paying much attention to the settlment date and by the time they had it was too late it was all signed. I have an excellent tenant there and the value has increased to around the 115k mark if not more. (a fibro has just sold for 120k in that street, so I am being conservative)
The department has sold off the houses and the fueding family no longer lives there.
Anyway I purchased a total of 14 houses in geraldton, mainly off the department of housing at giveaway prices. I don't think I would have quite picked up on the opportunity if I had not read Jesse's story.
I have recently purchased a duplex pair in Cairns for 200k , a house in tassie, a house in goulburn , a house in kalgoorlie (all under the 100k) all in 2005
What has worked for me........
Karina goes on to list 10 top tips but why not come along on Tuesday the 20th and get them LIVE and be able to ask questions.
Peter 147
For those thinking about coming to Forum LIVE here is one of the panel members story.
Karina's story is a clear statement it only takes application to be sucessful despite the setbacks we will all encounter.
Reproduced with her permission from a great thread at:
http://www.somersoft.com/forums/showthread.php?t=21333&highlight=karina
With thanks, Peter 147
Karina's Story & Tips
Just over 5 years ago my marraige broke down and I found myself divorced and living with my parents. I wouldn't wish it on anyone , a really difficult time in my life.
After a year or so I decided to buy my own place and settled on a unit in sydney. I was having a chat with a friend of mine that was really into wealth creation at the time and he mentioned a book he had read and suggested I read it. "rich dad , poor dad , by Robert Kiyosaki" The book really opened my eyes as to the power of real estate and motivated me to read more and get out there and buy more property.
I stumbled across another book by John Fitzgerald "7 steps to wealth" which taught me some great lessons like , land appreciates, buildings depreciate so from now I on I was set on buying affordable houses instead of units which has been a good strategy for me.
I was also introduced to the concept of the property cycle and during John Fitzgerald's seminar (it is advertised at the back of the book) in 2000 the presenter showed us information that suggested that brisbane prices start to rise after sydney prices start to boom. The presenter was recommending brisbane as the place to invest (of course they were selling property there, but I wasn't really interested in buying off them, feel more comfortable soucing my own deals)
I had never really considered buying properties interstate but after spending hours on the internet checking out brisbane I thought it was worth a look as prices were so much cheaper than sydney and it was easier to find properties there that were close to nuetrally geared than it was in sydney.
After doing some searches of key words like " boom suburbs, hot property" in yahoo search engine I came across some articles that suggested that redcliffe was an undervalued suburb , prices started at around 80k at the time so I booked a flight to brisbane and off I went to buy some property. I had a budget of $216k to work with and on that weekend I bought 2 houses. One for $108,000 renting for $140 per week and the other for $107,500 renting for the same.
When I was booking the flight over the phone I asked if she could organise accomodation in redcliffe and she asked me why on earth I was going to redcliffe to buy property, she said brisbane prices don't go up in fact she had a place and sold it because they never go up there and that redcliffe is a dump! ...hmmmm I thought not a good start. (lesson number 2, be careful of who's advise you take , it could cost you a lot of money)
Anyway flight was booked and I was going to have a look. Spent the whole weekend looking at properties (I had lined up appointments with agents in advance so had the 2 days fully booked) Offered on 2 houses and signed contracts on the monday.
When I returned I told a good friend of mine what I had done and he was a bit concerned suggested that I should only buy 1 not 2....also called my other friend the one that suggested I read the kiyosaki book and he told me to be careful not to buy in brisbane that all these people are getting ripped off....so as you can see I didn't have that much encourgament...except for my parents that thought it was great, they have always been supportive.
My strategy at the time was that in 5-10 years when prices doubled I could sell 1 and pay the other 1 off in full. Prices went crazy in QLD and 3 years later I sold one of them in the 280's
My first 3 purchases all occured in 2000. A few months after my purchase I was questioning whether I had done the right thing so you do go through that self doubt.
I then got a little distracted from investing as I met the man that is now my husband but that is another story all together so I will stick to property.
In 2002 a friend of mine asked me if I would go to brisbane with her and help her buy a property I thought sure why not and in the excitment of it all I bought another 2 properties. A similar property in redcliffe to what I orginally bought except it now cost me 145k and a house in redland bay for 167k
I then met through a property forum a young lady that was into positive cashflow, she had purchased many properties and spoke about buying blocks of units and properties that generated multiple rents. I had never heard of such a thing. I thought what a good idea...She mentioned that she had bought a house with 2 flats in broken hill for 49k and was getting 250 in rent...I though what the...so I had a dabble in positive cashflow ended up buying a block of 4 x 2 bedroom units for 175k renting for 440 per week. Also bought a house in elliott heads QLD for 150k (later sold for 225k) and and a house in sandy beach NSW for 169k (later sold for 215k)
I then read some more books, Jan Somers , Peter Spann and one that really stood out for me..."Ordinary Millionares by Jim McNight" it's a book about how ordinary people have become millionares through property investment and each chapter is dedicated to someone's story. Each story uses a different strategy but they all end up at the same place...financially free
I found chapter 4 Jesse's story fascinating, it talked about a guy that bought houses off the department of housing in Elizabeth SA for 25k and rented them for $60 per week, rents then rose to $95.00 and he had bought a stack of them , paid them of in cash after a number of years. It was an amazing story.
One night whilst searching for deals on the web I came across a house for 63k in geraldton WA (brick and tile, about 20 years old fully renovated) I rang the agent (this was Jan 2004) and he told me that there was nothing wrong with the house that it was the cheapest brick house in town but that it was in the worst street in town , there was a family fueding there. He said that he couldn't guarantee that I would get a good tenant but that in 12 months the area would improve as the dept of housing sold off houses in the street. He offered me another home he had for sale that was also renovated but fibro at the same price but in a better part of town so I bought that one along with 4 others in the 70,000 range, rents were 125 - 150 per week.
Having another chat with the agent about the house in the bad street I told him that I knew I would kick myself in 12 months if I didn't buy it now so I asked him to send me a contract and asked if the vendor (it was the dept of housing) would allow me to have a 6 month settlement. Somehow they just signed my offer without paying much attention to the settlment date and by the time they had it was too late it was all signed. I have an excellent tenant there and the value has increased to around the 115k mark if not more. (a fibro has just sold for 120k in that street, so I am being conservative)
The department has sold off the houses and the fueding family no longer lives there.
Anyway I purchased a total of 14 houses in geraldton, mainly off the department of housing at giveaway prices. I don't think I would have quite picked up on the opportunity if I had not read Jesse's story.
I have recently purchased a duplex pair in Cairns for 200k , a house in tassie, a house in goulburn , a house in kalgoorlie (all under the 100k) all in 2005
What has worked for me........
Karina goes on to list 10 top tips but why not come along on Tuesday the 20th and get them LIVE and be able to ask questions.
Peter 147
KPW said:hey just caught sight of this post......
is it too late to add another 2 seats for me and the Mrs ????
been a while since we've been in here.
Ko , Sounds like things have developed since you were last here
Congrats
See Change
