Grow Capital First

Discussion in 'Investment Strategy' started by MTR, 29th Apr, 2016.

Join Australia's most dynamic and respected property investment community
Tags:
Page 6 of 13
  1. Beano

    Beano Well-Known Member

    Joined:
    7th Apr, 2016
    Posts:
    3,359
    Location:
    Brisbane
    No ...Properties are not passive !
    Sort of part time property part time retired!
     
    Beano, 21st Jun, 2016
    #101
    brandontp, big max and Perthguy like this.
  2. hash_investor

    hash_investor Well-Known Member

    Joined:
    11th Oct, 2015
    Posts:
    2,440
    Location:
    Sydney / Canberra
    do you forget a few in your tax return?
     
    hash_investor, 21st Jun, 2016
    #102
  3. Beano

    Beano Well-Known Member

    Joined:
    7th Apr, 2016
    Posts:
    3,359
    Location:
    Brisbane
    No skill on my side ...there are many many people out there that add real value to property
    I am just a property hoarder! (lucky enough to be around when the interest rate fell)
     
    Beano, 21st Jun, 2016
    #103
    brandontp, Observer and Iamnumber5 like this.
  4. Beano

    Beano Well-Known Member

    Joined:
    7th Apr, 2016
    Posts:
    3,359
    Location:
    Brisbane
    QLD - Brisbane meetup 26th of June
    We had a Brisbane catchup in May ...I thought a June one would be good if we have anyone interested
     
    Beano, 21st Jun, 2016
    #104
    Archaon likes this.
  5. MTR

    MTR Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    27,859
    Location:
    My World
    Pity, you are not in Perth:)
     
    MTR, 21st Jun, 2016
    #105
  6. Beano

    Beano Well-Known Member

    Joined:
    7th Apr, 2016
    Posts:
    3,359
    Location:
    Brisbane
    No but the bank did!
    On their LVR schedule there was one missing lol (We all had a good laugh over it)
     
    Beano, 21st Jun, 2016
    #106
    Archaon and MTR like this.
  7. Beano

    Beano Well-Known Member

    Joined:
    7th Apr, 2016
    Posts:
    3,359
    Location:
    Brisbane
    We had a good turnout in May
    We had a lot of talented investors with real ideas for making money .....my ideas are pretty boring (compare with them)
     
    Beano, 21st Jun, 2016
    #107
    Perthguy, big max and MTR like this.
  8. hash_investor

    hash_investor Well-Known Member

    Joined:
    11th Oct, 2015
    Posts:
    2,440
    Location:
    Sydney / Canberra
    Would you be able to do a write up sometime to illustrate your story ... like how you started? And where did you start?
     
    hash_investor, 21st Jun, 2016
    #108
    brandontp, Observer, orangestreet and 5 others like this.
  9. Beano

    Beano Well-Known Member

    Joined:
    7th Apr, 2016
    Posts:
    3,359
    Location:
    Brisbane
    Its pretty boring story probably better to have someone that adds values or maximises the site to its true potential to do a story
     
    Beano, 21st Jun, 2016
    #109
  10. hash_investor

    hash_investor Well-Known Member

    Joined:
    11th Oct, 2015
    Posts:
    2,440
    Location:
    Sydney / Canberra
    leave it to the readers to decide if its boring. I just want to know where you started and what helped you out. May be its just simple leveraging at work but it might enlighten us about whats possible
     
    hash_investor, 21st Jun, 2016
    #110
    brandontp, MTR, legallyblonde and 1 other person like this.
  11. kierank

    kierank Well-Known Member

    Joined:
    20th Jan, 2016
    Posts:
    8,415
    Location:
    Gold Coast
    Why don't we say "after the tax woman has taken her share"?

    Maybe, there wouldn't be anything left?
     
    kierank, 21st Jun, 2016
    #111
    brandontp, Cactus and Iamnumber5 like this.
  12. kierank

    kierank Well-Known Member

    Joined:
    20th Jan, 2016
    Posts:
    8,415
    Location:
    Gold Coast
    After being in retirement for the last 5 years, I believe you need more than an employed person. How else will I pay for my oversea trips, my cruises, my holidays in Oz, my regular visits to restaurants, ...

    If you are not going to enjoy retirement, you might as well stay working :) :).
     
    kierank, 21st Jun, 2016
    #112
    Tomm, brandontp, MTR and 5 others like this.
  13. Iamnumber5

    Iamnumber5 Well-Known Member

    Joined:
    31st Dec, 2015
    Posts:
    352
    Location:
    australia
    @Beano boring investment means that you have found the right formula to multiply the portfolio. Please ignore the questions if you find any of them intrusive....
    1. what is your LVR of all your purchase price (not current market value)?
    2. You have given up your day job/business when you reached passive income of 500k and brought it further to 1.9m pretty much passively?
     
    Iamnumber5, 21st Jun, 2016
    #113
  14. Beano

    Beano Well-Known Member

    Joined:
    7th Apr, 2016
    Posts:
    3,359
    Location:
    Brisbane
    LVR About 60%
    Yes but the move $500k to $1.2m just happened due interest rate falls and probably another $300k due inflation effect on rents .
    The rest from buying (at above market value ...I don't buy at a discount to the market I buy at a surcharge to the market)
    So really I have done nothing anyone could not have done.
     
    Beano, 21st Jun, 2016
    #114
    adam duckworth, brandontp, ellejay and 4 others like this.
  15. hash_investor

    hash_investor Well-Known Member

    Joined:
    11th Oct, 2015
    Posts:
    2,440
    Location:
    Sydney / Canberra
    Impressive. Are you servicing your overseas properties with Australian loans?
     
    hash_investor, 21st Jun, 2016
    #115
  16. Iamnumber5

    Iamnumber5 Well-Known Member

    Joined:
    31st Dec, 2015
    Posts:
    352
    Location:
    australia
    What are the criteria that justify you buying at a surcharge to the market? Sometime emotion can get in the way clouding the judgement call
     
    Iamnumber5, 21st Jun, 2016
    #116
  17. Beano

    Beano Well-Known Member

    Joined:
    7th Apr, 2016
    Posts:
    3,359
    Location:
    Brisbane
    All properties funded in the country where property is based
     
    Beano, 21st Jun, 2016
    #117
  18. hash_investor

    hash_investor Well-Known Member

    Joined:
    11th Oct, 2015
    Posts:
    2,440
    Location:
    Sydney / Canberra
    Nice. Didn't know you can get loan in HK on Australian income.
     
    hash_investor, 21st Jun, 2016
    #118
  19. Beano

    Beano Well-Known Member

    Joined:
    7th Apr, 2016
    Posts:
    3,359
    Location:
    Brisbane
    Its not intentional buying above market
    Its just that in the last 37 purchases i have paid more than what a registered valuer said they are worth
    Also as I feel i do not want to miss the deal I pay the asking price ...in tenders I go in to get the deal rather than the thought "i will bid on many with low offers ..if I get any they will be bargains"
    "I WOULD RATHER PAY MORE FOR WHAT I WANT THAN GET A BARGAIN ON WHAT I DON'T NEED"
     
    Beano, 21st Jun, 2016
    #119
    Tesla’s numbers., adam duckworth, brandontp and 7 others like this.
  20. Beano

    Beano Well-Known Member

    Joined:
    7th Apr, 2016
    Posts:
    3,359
    Location:
    Brisbane
    The HK property is unemcumbered
    My deposits in HK only receive 1.27% interest
     
    Beano, 21st Jun, 2016
    #120
Page 6 of 13