Early Start - Investment Goals for 2018

I will start...

My personal goal is to work on my cash flow and capital and continual to buy properties in US/Atlanta, my target is 5 properties for 2018. Its just a matter of sourcing these. Unfortunately the issue is low inventory, not enough stock and too much demand.

Continue completing current development/reno projects in Atlanta and move on to other projects.

Australia - watch for any development opportunities, only small projects I don't want too much stress in 2018.



MTR

 

1. spend time with family

2. finish the townhouse build

3. fix interest rates on two loans

4. take a break and save up for the next project

I have been hands on with projects since June 2016. I am ready for a break.

 

That's a heavy load and you def need a break to recharge your energy. I agree with you on fixing some loans to provide some surety for a couple of years.

 

Hi @MTR,

With regards to acquiring properties in the US, I came across this video and was wondering if this is something you were aware of?



I won't lie, the prices these houses are selling for are ridiculously cheap and I'm a little tempted myself even though I have absolutely no idea about the market or regulations over there.

 

Thanks for sharing. Hard to believe what is happening in US at the moment. I feel like a child in a candy store

Yes, I know about this, in fact my g/friend's cousin lives in Michigan and is a property investor, he owns a trailer park with 200 trailers in Douglasville, Georgia. He goes to auction once a year in Detroit, he told me he pays around $7000 for properties in Detroit spends $10,000-15,000 renovating and flips them for around $70,000. He also uses a strategy rent to own, purely for cash flow. The auction is only once per year.

All my earlier properties in Atlanta were foreclosures buying direct from the bank. I don't go to auctions now I just have the time or I have to be in Atlanta as you need to go to the court house, not always possible, though I may source someone to do this for me.

I am in the process of placing an offer on a property this evening direct through a realtor. However, the playing field has now changed there will be multiple offers, it will then come down to highest and best and a date will be set. Fingers crossed. If I secure I will share the numbers.

MTR

 

1. I have been given a project in UAE, currently same goal as @Perthguy : take that opportunity to travel to my country of origin every weekend. It costs but worth the spend to see parents each weekend

2. In 2018, take a serious look at opportunities internationally and locally in stocks

3. Hoping to have some further growth in the Werribee purchase in 2018 and move the equity release to that property.

4. A very small chance of subdividing the Werribee house

5. Explore ideas for a business.

 

1. Read more investment books (I read my first one over the weekend in 2 days - learnt so much; couldn't put it down).

2. Educate my wife in investing so that she's not so scared of 'just more debt'. This is gonna be a hard one, but a really important one. Even with increased income, she won't let me spend another cent until PPOR is paid off (6 years time!).

3. Invest a small amount into Cryptocurrencies (<$5k)

4. Hopefully buy another IP at the end of 2018 (goal is to save another $100k and create more splits). This time, exploring a family trust setup.

 

1. Settle on our first commercial property early 2018.
2. Maintain what we already have.
3. Enjoy first full year of freedom from the workplace.

 

Please share your secrets and how it goes (or maybe direct her to @Ace in the Hole ....\/). I just took the 'all in' approach and put the pen in partner's hand with the loan pages well laid out. A very detailed spreadsheet showing IP value, loan amount, rents in, costs out etc etc at least gives a picture, although there's still a gulp at times (particularly if I raise the debt position - even though this doesn't paint the whole picture), but I have stopped looking at re.com.au which makes my partner sleep a little better....

Woohoo! Must feel good.

 

my goals for 2018 are:
1. decrease personal debts to $0.00 (selling car)
2. save for next investment property and buy around july
3. grow the bricklaying business, to become a company PTY LTD

Any one doing developments next year and need a big team to do the brickwork?

 

- Get my wife through her last year of study.
- Buy an IP in either Brisbane or Darwin.
- Build up the home business.
- Meet some of you!

 

Reduce non investment dept to <5000
Increase cash buffer to
Produces cashflow fro side business

 

Do you come to meet PC meet ups?

 

$3700 for a house ...are there tax arrears to pay too?

 

I'd imagine there would be but not too sure.

Still though, it sounds very lucrative to me.

 

With any auctions you do the research and the info is available to find out what the outstanding back taxes etc are... if any?

I have just placed 2 offers on 2 properties today, not auction, both with multiple offers
It then escalates to highest and best offer.
Will post these if I am kucky enough enough to secure

 

4 tips for Australian home shoppers buying property in the US

 

OK, sorry but that list is not going to cut.

For starters, you cant trust anyone selling property in US, you need to understand it yourself first, otherwise you may be suckered into buying rubbish. Alternatively use someone who has a track record. Similar to Oz you would not buy a development site from a BA if they have never developed property?? What would they really know??

Finance, well as a foreigner the only loans you will be able source in US are equity loans, which means you already need an established portfolio.
You need a US credit rating to access finance in USA. Hard money lending don't touch it, you will get burnt.
If buying in US you need cash, other option is accessing equity from Australia or buying in SMSF if you have lazy cash around - 7.5-8.5% net returns (gross 15%) with growth is better than what you could achieve in shares or property in Australia at the moment.

 

Me!

 

Saving huge amount of cash is an issue @MTR -I started another thread along those lines.

But the points you have outlined are all important. I have been reading your posts and other members so thought do an online search to see what is out in US