Getting Started

[WebBoard]

From: Mike .


Too many opportunities??
From: Mia
Date: 17 Feb 2001
Time: 11:53:50

Well, I have finally got my first investment property. It cost me $128500. The tenants are moving in this weekend and I'll be getting $350 per week. I'm so pleased that it has all gone so well and I must thank everyone on this forum for all the ideas and thoughts you have provoked over the last few months. I have been a fairly silent watcher, but now feel like I can contribute since I now have some experience!!

The problem I have is that now I see so many opportunities for positive cash flow properties and I don't have an unlimited supply of funds. How do I stop myself driving both myself and hubby up the wall? Anyone got any tips on how to take a chill pill until I have enough $$ for the next deal, without losing all the enthusiasm?

Mia

 

[WebBoard]

Marina

Reply: 1
From: Mike .


Re: Too many opportunities??
From: Marina
Date: 17 Feb 2001
Time: 20:45:03

Congratulations on such a highly positively geared property.Your return on your first property is fantastic. Could you all tell us how you did it,which state etc.

Unfortunately there is no chill pill out there. I was so excited when I purchased my first property that I purchased another 2 within a couple of months of each other. Even now my brain is always working overtime on buying more. Just keep thinking creatively and think strategies.

 

[WebBoard]

Debbie

Reply: 1.1
From: Mike .


Re: Too many opportunities??
From: Debbie
Date: 17 Feb 2001
Time: 19:23:36

Mia Wow, what a great return. Can I ask if you did anything special to get such a return?

What area are you investing in? If you want to reply off line my email is: [email protected]

Cheers, Debbie

 

[WebBoard]

Anna

Reply: 1.1.1
From: Mike .


Re: Too many opportunities??
From: Anna
Date: 17 Feb 2001
Time: 13:43:23

Off to a brilliant start!!!

 

[WebBoard]

Michelle R

Reply: 1.1.1.1
From: Mike .


Re: Too many opportunities??
From: Michelle R
Date: 17 Feb 2001
Time: 12:44:32

Hi Mia, good for you. If there are too many for you to buy want to throw a few my way? Where do you buy places for $128,000 and rent for $350! I've searched high and dry in my area and can't find anything that will return even a small cash flow.

Cheers, Michelle
If you don't want to share with the world I'm [email protected]

 

[WebBoard]

ash

Reply: 1.1.1.1.1
From: Mike .


Re: Too many opportunities??
From: ash
Date: 30 Mar 2001
Time: 13:14:51

Dear Mia In which area did u buy the investment property for 128500...with a rental return of 350.00 per week? I think that you have done well for the first property.

 

[WebBoard]

Bob

Reply: 1.1.1.1.1.1
From: Mike .


Re: Too many opportunities??
From: [email protected]
Date: 21 Feb 2001
Time: 10:01:38

With the rate of return please let me know if you have too many to handle. I have been thro' about 30-40 IP and can't even match anything like what you found please contact me on [email protected]

Many thanks, Bob

 

[WebBoard]

John

Reply: 1.1.1.1.1.1.1
From: Mike .


Re: Too many opportunities??
From: John
Date: 19 Feb 2001
Time: 11:50:59

I'd be keen to know where you are able to find these sorts of properties. Please help me get started. Email me on [email protected]

Regards John

 

[WebBoard]

Alston

Reply: 1.1.1.1.1.1.1.1
From: Mike .


Re: Too many opportunities??
From: Alston
Date: 19 Feb 2001
Time: 07:13:22

Don't slow down. At these sort of returns, you will find the money (or the money will find you). Keep buying, trust your gut feel. If it makes sense, buy it. Don't be frightened to pay mortgage insurance if you have to or flip the deals to other investors.

 

[WebBoard]

Pierre

Reply: 1.1.1.1.1.1.1.1.1
From: Mike .


Re: Too many opportunities??
From: Pierre
Date: 18 Feb 2001
Time: 20:19:55

Just go with it Mia. Your place is worth more than $128000 - so call the bank, find out who the panel valuer is, order a reval, take the reval and the rental figures to the bank, update the figures, find out how much they will lend you on a similar property, and buy another one. Chill shmill!!!

Pete

 

[WebBoard]

Mia

Reply: 1.1.1.1.1.1.1.1.1.1
From: Mike .


Re: Too many opportunities??
From: Mia
Date: 19 Feb 2001
Time: 11:50:23

Hmmmm....now that you are going to buy up all my prospects I suppose I'll have to keep looking.