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[Michael Croft]

From: Michael Croft


Hi RM,

I'm a gonna be in big trouble now! I'm not super conscientious like I'm sure you should be.

Q1. I only physically looked at three for the Braddon purchase and only one for the Campbell purchase. Had been reading the Saturday real estate section every Sat morning for months though.

Q2. The flat came as a bonus and rented out at $110 pw. So yes it was $80 pw + from day one.

Q3. I don't rely on agents to call me - ever! The only tool I use when reading the Sat paper is my nous and a calculator. If its showing a reasonable return (1.5-2% over my borrowing rate) I'll investigate. If its been sitting on the market for a while (don't wanter) I'll investigate.

I may look at one or two most weekends. If I'm feeling enthusiastic I'll stop at an open exhibition or two.

Thats about it, and it's always been that way. Got to have a life too you know ;^)

Michael Croft
"The best parachute folders are those who jump themselves."

 

[WebBoard]

Reply: 1
From: RM .


Michael,

Thanks for the "wholesome" response. I guess it just goes to show that you can have a life and be a property investor at the same time.?

Studying the "form" guide??? I guess that is what the expert punters do on horses so it must also apply equally for property. It appears by your response that it does!

Positive cashflow from day 1.? I guess I am still curious on whether it was luck or your diligent approach...(Nous and calculator?). Either way it worked. $80 per week in the black? I am sure that there would be a few green eyed investors out there at the moment.

I think you have confirmed my suspicions on RE agents. They would be more than happy to help when there is an immediate and tangible gain to be made in their favor. The prospect of building relationships for future gain doesn't seem to agree with them at them moment.

Anyway, thanks for your thoughts. I guess I will go and exercise my nous whilst reading the RE guide....

Thanks RM.
"Nothing shapes our journey through life so much as the questions we ask" - Greg Levoy.

 

[Jude H]

Reply: 1.1
From: Jude H


Michael, my companion in what not to do.

I bought one after seeing two houses at 30K under FMV. (Bank val confirmed) Cashflow positive.

However, my biggest investor indiscretion was the house bought via car headlights. Positively geared. Or was it the one bought sight unseen? Due Diligence?, at least I know how to spell it!!

If you have nous, you'll be right. The old gut instinct.

You may have guessed, this is not investment advice. HA HA


Jude

~ Never take no for an answer from someone not empowered to say yes ~