2004 property goals

[MrIronman]

hi all

What is your financial goals for this year...eg. how many properties, how much rental income (net), CG, etc.

Its only late January, but how are you going.

Ill start...6 properties with net return of $30 pw on each property. by 2005.

Regards

Sir Ironman

[LeanneS]

No personal debt, no working for anybody else :-)

[superman]

1. Reduce personal debt.
2. Consolidate our 12 rentals we purchased 2003.
3. Add 1 more high yield & Capital gain property to the portfolio in 2004

[graemeh]

1. Complete 3 of the 4 deals that we started in the last 2 years. (construction on 3 will finish this year).
2. Do a deal that will give us our $100k initial deposit back in cash within 3 years and leave us with at least $100k of equity still in the deal and give an ongoing income stream of at least $15k per year.
3. Expand my IT consulting business to have more customers in niche markets.

[The_Dog]

I'm trying a few different things this year. I'm selling a house (which I have never done before) to free up equity for a block of flats (I ony have houses at the moment). I'm also looking at options regarding a minor dwelling on one of my existing properties.

[wada]

Hello,

1) Reinvest profits from our IP's to purchase 1 CF property...our goal 1 property per year.

2) Improve in the property game.

Wada

[teach]

To not have my parentage, sexuality, present worth and future prospects questioned by a pimple farming 14 year old in dire need of a backhand.

That is the aim, in reality it will be to buy a minimum of three properties requiring minor renovation (weatherboards, paint, carpet etc). Work on them weekends and holidays (I have a source of child labour to exploit); revalue to get my equity back.

[inzvestor]

Nice post teach - can't wait to be a parent !!

My goals for 2004 are to travel more, improve my investment portfolio and lift all investments to a minimum 10% (after tax) return.

Collect more wines, launch a new business and meet more people (and spend more time with those I already know)

[PropertyGuru]

Hi all, My goal is buy 12 properties in this year. In January I settle 2 so now 10 more to go. .

Thinking of buying 2-3 in this month.

I will look for buying more in May again!

Hope I will get my goal!

[orion]

Hi all, My goal is buy 12 properties in this year. In January I settle 2 so now 10 more to go. .

Thinking of buying 2-3 in this month.

Well done Property Guru!
Are you doing quick cash deals, buy and hold or a combination of both?
Are they all in Sydney?

Regards
Graeme Fowler

[PropertyGuru]

Hi Orion,

I can't buy a single in Sydney.

I think all will be buy and hold. I will be buying in NZ also.

Cheers
PG

[orion]

No, I imagine Sydney would not be the greatest place to buy with yields in some locations as low as 2%. Some investors have been apparently buying properties such as this, and on interest only! I guess there still must be suitable rentals to purchase on the outer areas of Sydney that make sense though are there?

Which parts of NZ are you investing in?

Regards
Graeme Fowler

[lissie]

My 5 year plan is to achieve a net income of approx $50k using a mixture of CF and CG properties. We currently have a gross rental income of $30k odd from 2 CF and 2 CG properties. I require 7% nett from the CF properties (using a nett figure takes into account the outrageous rates charged by small town councils) and try for CG properties of 10% + - which is more of a gamble at the moment. My problem is what to do this year - we had zero IP's this time last year - so 4 in one year is pretty good, but I'm not sure whether to pause this year or to aggresively keep acquiring. What I don't think any of the books on the market make clear is that the purchase year is quite expensive - although overall our portfolio is basically exactly neutral after tax or -$2,500 before - we at one point (Xmas - 10 months in )we were down $11k because of expected or unexpected maitenance issues (i now budget $1000k for fixing issues on the building report in the 1st year ), solicitors fees, building reports, valuation fees (both for purchase when I was starting in the area and also chattels) and accountants (expensive 1st year because had to set up the depreciation schedules), and the tenants in one property having to be eicted for non-payment. It wasnt a problem for us because with had a LOC and we had budgeted on making significant debt payments each week - but it would have been pretty scary if we had been a single income struggling young couple, even if we had still had a personal mortgage it would have affected our lifestyle.

[PropertyGuru]

Hi Orion,

Even in outer Sydney you can get only 4-5% return if you are lucky.
I am visiting both NI and SI next week after that I will be able to say more about NZ.

Cheers
PG

[MrIronman]

Hi all

I have another goal....


10 STARS!!!! next to my name.....yeah baby!!!

Cheers

Ironman