is this real?

[WinstonWolfe]

A dude named Lao Tzu


"A journey of a thousand miles must begin with a single step." -
-- Lao Tzu

Certainly an apt axiom for those procrastinating........just start

And Ling Tzu, Lao's sister said,

"A journey of a thousand miles becomes a journey of ten thousand miles if you don't know your destination."

 

[wobbycarly]

And Ling Tzu, Lao's sister said,

"A journey of a thousand miles becomes a journey of ten thousand miles if you don't know your destination."

Aah, yes, a goal. Better get one of those one day, too!

 

[wobbycarly]

BayView,
I know I'm on the right path, and know the theories, but nothing beats hearing REAL stories from REAL people, in the REAL world, right now, to feel encouraged.

Actually, had a junk mail from an REA who services the area around our townhouse in Brissy, with recent sales figures from our complex. Not quite as impressive as your recent performance, but has increased from $195k in 2000 to $380k. (See, double in 10 years ) So I know I'm on the right track, but sometimes it feels sooooo slow.

Thanks again.

 

[Y33]

Bayview, well done. Just got to love compounding property growth.

Sweet Bayview good work!

I also got a nice reminder yesterday myself,

bought in Millner Nov 2003 for $132k, valued yesterday $415k!

Rent has gone from $200pw to $380pw, surely it must stop in Darwin for a while now,

Bigtone, still a few more projects in the pipeline to be announced to keep it rolling along a little longer. Approx figures follow. House in NC 315K (2005) 650K (2009) and 2BR in NC 72K (2002) 350K (2009). I'm glad my better half has different taste to me in properties. Couldn't decide out of 2 Units to buy in 2002 so stretched the figures and got both, Did the same again in 2005 but with 2 houses. These properties combined have compounded very nicely over the last 4 years.

 

[Bigtone]

Bayview, well done. Just got to love compounding property growth.



Bigtone, still a few more projects in the pipeline to be announced to keep it rolling along a little longer. Approx figures follow. House in NC 315K (2005) 650K (2009) and 2BR in NC 72K (2002) 350K (2009). I'm glad my better half has different taste to me in properties. Couldn't decide out of 2 Units to buy in 2002 so stretched the figures and got both, Did the same again in 2005 but with 2 houses. These properties combined have compounded very nicely over the last 4 years.

sweet keep it coming!

 

[Dazz]

Onya Marc - $ 876 per day, every day. Beats working.

 

[BayView]

Oh and very nice to you, Bayview. Whats the plan from here?

Thanks.

Not sure what the plan is really.

Our next assignment is to get the new PPoR built, and then do another re-value.

I'm torn between doing another IP purchase or another business.

My feelings are now towards buying a business in the next level up ($1 mill+) for the instant cashflow, but I still haven't done a subdiv project as yet.

My preference there is to do say a 4 unit one, sell 3 and keep 1 which is mostly (hopefully no debt) debtfree and provides more cashflow.

There are still a good number of these subdiv types of blocks here in Dromana, and it would be good to do one close to home.

 

[Witzl]

Hey Marc - you bought a tyre shop didnt you??

Ive been thinking about buying a tyre shop in the next few years as a part of my "exit the employee phase" plans. Do you mind me asking you approx how much it cost to buy, and what sort of income it produces?
Do you work there much yourself?


I chose the tyre shop business as they are generally very stable businesses with regular turnover, from what i have observed..... and i like to play with cars

If you arent willing to divulge, thats perfectly ok

 

[andrew_de_a]

look for his thread in the convo lounge, all is answered in there

 

[Witzl]

the which lounge??
Coffee Lounge? (section we are in now?).... i'll have a search.

 

[andrew_de_a]

yeah sorry coffee lounge, he started a thread a while ago that contains a great deal of info on the purchase, start up, operations, etc

 

[BayView]

Hey Marc - you bought a tyre shop didnt you??

Ive been thinking about buying a tyre shop in the next few years as a part of my "exit the employee phase" plans. Do you mind me asking you approx how much it cost to buy, and what sort of income it produces?
Do you work there much yourself?


I chose the tyre shop business as they are generally very stable businesses with regular turnover, from what i have observed..... and i like to play with cars

If you arent willing to divulge, thats perfectly ok

I'll send a PM to you Witzl with some info.

The business is not just tyres by the way; it's about 50% mechanical repairs and servicing, and we sell batteries as well.

The beauty of the mechanical and batteries as well as the tyres is they provide other income streams, and we pick up new customers through these.

For example; we get lots of people directed to us by the RACV to get their cars fixed, or their battery changed, and they see that we sell tyres and do servicing etc, and end up bringing their cars to us for all three things.

We have had numerous "tow-ins" that end up as repeat customers for servicing and tyres etc.

So, I would recommend going for a business such as this - not just a tyre place.

 

[wylie]

I am so with you Marc. I HATE the rigmarole involved in dropping the car in for new tyres, having to organise a lift home and a lift back when it is done. Another day and more lifts to be arranged for the service etc etc.

My mechanic seems to be very good, honest and doesn't treat me like a "woman" , he also does our tyres when needed and right next door is an auto-electrician. I don't think I am paying more, but even if I am, I am happy to combine and save on wasted days for each thing that needs fixing.

And I am not employed. How people fit all this sort of stuff around work hours beats me.