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From: Mike .
looking for my niche
From: Michelle R
Date: 13 Feb 2001
Time: 07:56:58
I've read John Burley's book,listened to the tapes and participated in his forum. Others are successfully doing wraps. However, I don't think wrapping is for me. Personally speaking finding investors is a big turn off. Unless I'm prepared to do dozens of wraps (exhausting just thinking about it) I doubt whether buying a couple of houses is worth all headaches of wrapping.
I would prefer to take John's and Robert K's advice about negative gearing ie don't go there. Actually I've been there, partner wanted out so had to sell. I think at my age(40 something) it's a bit late for a negatively geared port folio. John B suggests buy and hold which in my area is really negative gearing. I cannot find a rental property in my booming area where I can generate a cash flow and CAPITAL GROWTH, believe me I have looked and made many offers.
Next suggestion is quick cash. Possible but not at all probable where I live. Once again it's a boom,no ones that desperate. I would challenge anyone to try and buy properties in my area for 20% less. That is properties so desirable that you can quickly off sell in 60-90 days.
The idea of fixer uppers appeals to me.I have a creative flare and would love to turn a drab place into a butterfly. This sounds good but once again in todays market most places are being sold with their potential in the price. I could go outside my area. It's a big country. The thought of buying unseen is not me. Don't have the time or the energy to trip all over the Australia, if I did wouldn't being looking to set up my retirement, I'd be there.
I'm trying to think laterally (in circles) as well as realistically. Rene Rivkin who was recently mentioned on this group said there are three types of people, negative, positive and the realist. Guess which one he is? All the positivity in the world cannot make figures add up.
I've seen this time and again in small business. People starting out with all the zest and enthusiasm in the world. In reality we know how many make it. I know the rave about failure being good. I think after a certain age the risk ratio stakes are much higher. Any feedback, tips, suggestions, info?
Cheers, Michelle
looking for my niche
From: Michelle R
Date: 13 Feb 2001
Time: 07:56:58
I've read John Burley's book,listened to the tapes and participated in his forum. Others are successfully doing wraps. However, I don't think wrapping is for me. Personally speaking finding investors is a big turn off. Unless I'm prepared to do dozens of wraps (exhausting just thinking about it) I doubt whether buying a couple of houses is worth all headaches of wrapping.
I would prefer to take John's and Robert K's advice about negative gearing ie don't go there. Actually I've been there, partner wanted out so had to sell. I think at my age(40 something) it's a bit late for a negatively geared port folio. John B suggests buy and hold which in my area is really negative gearing. I cannot find a rental property in my booming area where I can generate a cash flow and CAPITAL GROWTH, believe me I have looked and made many offers.
Next suggestion is quick cash. Possible but not at all probable where I live. Once again it's a boom,no ones that desperate. I would challenge anyone to try and buy properties in my area for 20% less. That is properties so desirable that you can quickly off sell in 60-90 days.
The idea of fixer uppers appeals to me.I have a creative flare and would love to turn a drab place into a butterfly. This sounds good but once again in todays market most places are being sold with their potential in the price. I could go outside my area. It's a big country. The thought of buying unseen is not me. Don't have the time or the energy to trip all over the Australia, if I did wouldn't being looking to set up my retirement, I'd be there.
I'm trying to think laterally (in circles) as well as realistically. Rene Rivkin who was recently mentioned on this group said there are three types of people, negative, positive and the realist. Guess which one he is? All the positivity in the world cannot make figures add up.
I've seen this time and again in small business. People starting out with all the zest and enthusiasm in the world. In reality we know how many make it. I know the rave about failure being good. I think after a certain age the risk ratio stakes are much higher. Any feedback, tips, suggestions, info?
Cheers, Michelle
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