How we bought 20 IP's in 5yrs
- Thread starter Brenda Irwin
- Start date
Nice going Brenda ! This thread made me visit Collins this afternoon for a look at what was on the shelves again.
There was a paperback by a pair of chaps who amassed 130 IP's in 3.5 years, and contains a fair bit of interesting detail about how they did it, how they chose the IP's, and some useful guidance. I'm modelling it tonight, we have three IP's and are able to pay off our PPOR, however before I do that I'm thinkin about alternatives.
It's is seriously tempting to do likewise... only snag ATM is the wife will think I'm completely insane.
Maybe I'll just give her the book for Christmas.
There was a paperback by a pair of chaps who amassed 130 IP's in 3.5 years, and contains a fair bit of interesting detail about how they did it, how they chose the IP's, and some useful guidance. I'm modelling it tonight, we have three IP's and are able to pay off our PPOR, however before I do that I'm thinkin about alternatives.
It's is seriously tempting to do likewise... only snag ATM is the wife will think I'm completely insane.
Maybe I'll just give her the book for Christmas.
iLuxo,
There's a whole thread about the book- http://www.somersoft.com/forums/showthread.php?s=&threadid=11294
Property Manager
Hi Brenda
You and I have properties in a similar area. I have one in Brightview (Hattonvale) and one that will settle in Jan in Coominya.
I was wondering if you could recommend a GOOD Property Manager as my tenant in Brightview is vacating soon and I would like a tenant for Coominya when it settles.
Any info would be muchly apprecaited as I live in Canberra and can't really interview til early Jan and would prefer tenants by then.
Ta
Leane
"Last night I lay in bed looking at the stars, and I thought to myself, where the heck is the ceiling?"
Hi Brenda
You and I have properties in a similar area. I have one in Brightview (Hattonvale) and one that will settle in Jan in Coominya.
I was wondering if you could recommend a GOOD Property Manager as my tenant in Brightview is vacating soon and I would like a tenant for Coominya when it settles.
Any info would be muchly apprecaited as I live in Canberra and can't really interview til early Jan and would prefer tenants by then.
Ta
Leane
"Last night I lay in bed looking at the stars, and I thought to myself, where the heck is the ceiling?"
Brenda,
One thing that stands out for me when I read about you is that you don't appear to have set up a protection structure, for example a corporate trust.
Can you tell us your thoughts on asset protection and tax structures?
Whether liability / landlord insurance is your answer?
Whether you are now looking at a structure ?
Whether you think some of the structures being talked about these days are over-rated. ?
Cheers
MJK
One thing that stands out for me when I read about you is that you don't appear to have set up a protection structure, for example a corporate trust.
Can you tell us your thoughts on asset protection and tax structures?
Whether liability / landlord insurance is your answer?
Whether you are now looking at a structure ?
Whether you think some of the structures being talked about these days are over-rated. ?
Cheers
MJK
I have been an API subscriber for 18 months and have been waiting for some people from here to be featured one day!!!
Well, I just got the API mag delivered today and have re-read the story(after reading it here first) I really love the story about house 7.....35k renovators delight.
Well done guys and congratulations on the story!!!
Now you guys are probably about to become a lot more famous!!!
Well, I just got the API mag delivered today and have re-read the story(after reading it here first) I really love the story about house 7.....35k renovators delight.
Well done guys and congratulations on the story!!!
Now you guys are probably about to become a lot more famous!!!
Aw no fair Perky.
How come you got your copy and I didn't get mine. Daylight saving must give you an unfair advantage. It better turn up tomorrow.
Hey, closeup shot didn't show up too many wrinkles did it? The suspense is killing me.
By the way MJK, I checked out all the trusts but I like my setup the way it already is.
How come you got your copy and I didn't get mine. Daylight saving must give you an unfair advantage. It better turn up tomorrow.
Hey, closeup shot didn't show up too many wrinkles did it? The suspense is killing me.
By the way MJK, I checked out all the trusts but I like my setup the way it already is.
Originally posted by Brenda Irwin
Aw no fair Perky.
How come you got your copy and I didn't get mine. Daylight saving must give you an unfair advantage. It better turn up tomorrow.
Hey, closeup shot didn't show up too many wrinkles did it? The suspense is killing me.
By the way MJK, I checked out all the trusts but I like my setup the way it already is.
I got mine Brenda,
actually I was surprised how well Les scrubbed up
Haven't read it yet but the article looks great.
Kev
www.nundahrealestate.com.au
I got mine...and I am in Japan!!!
Brenda...great reading!
Brenda...great reading!
Hi,
I'm not gonna buy my first IP for another year or so, but I almost daily check realestate.com.au for deals that I would take if I could. I've seen properties that appeared to be +cf to me. They were $20k - $55k+ and I wondered if buying that cheap was recommendable. It seemed to, as the yeild was more than for $100k+ properties. Its cool to have come across this thread to reinforce what I had already found.
Cheers,
Brett
I'm not gonna buy my first IP for another year or so, but I almost daily check realestate.com.au for deals that I would take if I could. I've seen properties that appeared to be +cf to me. They were $20k - $55k+ and I wondered if buying that cheap was recommendable. It seemed to, as the yeild was more than for $100k+ properties. Its cool to have come across this thread to reinforce what I had already found.
Cheers,
Brett
Beetle
With all due respect, that was two years ago, and things are not quite the same. Then, everything was booming, and you could not do anything wrong. Now, it's slowed down a lot, and the whole scene is different. Yes, you can still find cf+ (if that's your priority). But, I suspect that in the price range that you're suggesting that they may be in small towns in the country. IF that's the case, then you have to be very careful about the place you're investing. What are the fundamentals? Is the population going to grow? Are they going to pay higher rent in the future? Are they going to have jobs in the future?
There are places in Australia which are still cf+ only because the future is uncertain. Make sure you do your research really well.
I invested originally only for cf+, but I was lucky that a boom came along to give me equity. Steep rises in council rates and land tax have taken a lot away from the cf+ "advantage".
With all due respect, that was two years ago, and things are not quite the same. Then, everything was booming, and you could not do anything wrong. Now, it's slowed down a lot, and the whole scene is different. Yes, you can still find cf+ (if that's your priority). But, I suspect that in the price range that you're suggesting that they may be in small towns in the country. IF that's the case, then you have to be very careful about the place you're investing. What are the fundamentals? Is the population going to grow? Are they going to pay higher rent in the future? Are they going to have jobs in the future?
There are places in Australia which are still cf+ only because the future is uncertain. Make sure you do your research really well.
I invested originally only for cf+, but I was lucky that a boom came along to give me equity. Steep rises in council rates and land tax have taken a lot away from the cf+ "advantage".
