Newbie - Just saying G'day

[DRUSS]

Hello All,

Just wanted to introduce myself to the forum. It seems like a fantastic forum already.

I am a young married father of 2 and looking at seriously getting into REI.

I am a RK fan and my goals are to be financially free. Atm my plan is to buy/hold and rent. I will be looking for positive cashflow PI only. I have been in a research phase for the last 4months.

I am interested in going to outings/seminars and playing cashflow 101 with fellow members.

I'd also be interested in anyone who has positive cashflow PI's as i am seeking out a mentor.

My motivation - my family. I use to never see my kids at my last job and I couldnt stand it so i quit that job and havnt really recovered financially yet.

So my goal is to spend more time with my family while been able to have the choice to work or not to work. Is it acheivable, yes. How am i going to do it, yet to get that far .

I look forward meeting all.

Cheers

Daniel

PS. If anyone has some good links for newbies please do post them or advice, thanks.

 

[DRUSS]

Oh and also my current stats regarding RE are;

PPOR $180,000debt
Value Now $225,000 approx.

2bed, free standing home, strata title, 280sqms, 1bath etc etc.

I have renovated most of the house (and completed 90% by myself).

So i plan on using the capital/equity for my first PI. Any advice welcomed.

Cheers

Daniel

 

[buzzlightyear]

Welcome Daniel, what's a RK fan?

 

[kissfan]

Welcome Daniel, what's a RK fan?

I'd guess Robert Kiyosaki although it could be Rudyard Kipling

Regards
Marty

 

[Aaron Sice]

you sound like you're in my position there DRUSS.

welcome to somersoft!

renovating is great fun - i've done it three times now and i swear never again, but you always get the itch and think "i've got one more left in me...." lol sucker for punishment.

with the cashflow 101 i'd say RK = Robert Kiyosaki. i'm a great fan too, he does come across a little simplistic with his methods, but then he has to cater to the masses.

 

[DRUSS]

Oh sorry guys, yeh RK - Robert Kiyosaki. And yes he has inspired me, its a shame he isnt specific about anything, lol.

Its always good to know people are in similar situations and are similar minded.

The problem I have is none of my friends are even remotely interested in Realestate or their future. So theres no real communicating at all. Thank goodness for this somersoft forum. I actually found it off a link from the Richdad forum (RK forum).

Im lucky I have my brother who is enthusiastic about investing in RE as he will be my partner for the future.

Oh and I have been reading through the faq's sec. on the website and its really good.

thumbs up,

Daniel

 

[Aaron Sice]

wow dude - you must be in EXACTLY my time of living - none of my friends give a s_t either.

i've learned more than what i thought i could on here - and there's still comm and industrial to go!

 

[steveadl]

The problem I have is none of my friends are even remotely interested in Realestate or their future. So theres no real communicating at all. Thank goodness for this somersoft forum. I actually found it off a link from the Richdad forum (RK forum).

Right there with ya mate! Welcome to SS.

 

[redlake2]

Welcome

Welcome from me too Druss. My first day on the forum too and I can't believe how good it is! I have four properties, all positive cash flow, so hopefully my 2 cents might help someone.

 

[quoll]

G'day and welcome to the forum.

Have fun reading and learning. This is a great place to learn and should help you grown and maybe change as you learn new and different ways of doing things. Enjoy those paradymn shifts.

Cheers
Graeme

 

[DRUSS]

Thanks for the warm welcomes everyone.

The problem I have now is getting off this forum when needed, lol.

redlakes2, sounds interesting as it exactly my goals and I suggest going to the faqs' post in 'Property Investments - General. It's a fascinating read.

And yes the learning curve from what I have learnt from the time ive joined 3-4days now is amazing. It changed my perspective on alot of things and also my reality on the subject.

Ive just lowered my REI risk by joining these forums. Its all calculated now.

Please anyone if you have any advice or help don't hestitate to email me -

[email protected] as i'd be more then greatful.

Cheers Everyone,

Daniel

 

[josko]

Hi Daniel and redlake

Welcome, RK got me going in RE too!


I think you'll find most of us have got no real friends we can talk about property with, how much we owe, how much we own etc.

I too have found this forum a great release, and almost a bit of a diary!

redlakes, how long have you been investing? Positive Cashflow in properties is pretty hard these days. The Steve McKnight days are pretty much gone. There are always rural areas but you wo'n't get the Capital growth like you would with bigger cities.

Regards JO

 

[redlake2]

Bought my first in 1994

I bought my first property in 1994 then had to wait a huge 9 years before I was in a position to move further. Then bought one in 2003, another in 2004, and the last in 2006. I think those are my dates. I have always used the previous lot of equity and I wait until they increase in value and move again after that.

Yes, really hard to find positive cash flow. I am finding that I need to buy the least amount of negative value that I can find nowadays. That way it is positive in one year when the rent goes up.

I made a mistake with the second last one I bought and it has been more negative than I expected but because the others are all positive they seem to cover me for the negative one.

I think the Cairns area is the only area that is coming close at the moment.