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Can I say that I think this bloke is absolutely inspired.
I have some problems with this website with people always wanting something for nothing and telling each other it's possible and them actually believing it.
To have a large property portfolio which you can rely on as a main source of income takes alot of hard work and alot of money.
I seem to hear alot of talk but do these people actually have this as their main income!!!
And as for offering to sell properties but not know about yeild!!!! By the way you need to take more than just your rent into account.
This just highlights the difference between amateur and professional property investors. But I wish you all luck.
Mr Shite can I shake your hand. |
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Ed
I have read your thread and presume the guy your talking about was me.
At no stage i have professed to be a professional property investor and am learning every day with the view to making this my full time job.Please look at threads for yeilds and you'll see there is a approx 4 month gap between the question and being asked to jv with this deal.Learning all the time as said.If you are a full time professional developer? and you don't mind sharing your experinces then please contact me and that goes for Thickas shoite aswell.
Regards Damian
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Quick question for Thickas you are saying you don't touch deals with less than 20% discount etc however you are so keen on a 15% deal in stockton. Why?
Please don't take this the wrong way but you have posted on quite a few my threads and other peoples threads where you have been very negative without any reasons/facts written down.I would be intrested in talking to yourself and Ed to find out more and if you don't mind sharing experinces/advice.As i said in this thread already i'm here to learn as much as i can asap.
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What an insult, i think Ed you should appologise. Ive been renovating and renting out property for 4 years now and my income from this alone is between 50K and 80K per annum, yeah, beleive it. i dont bother with yeild i just look at net profit, if u were to ask me my yeild on a property i could not tell you, reason been i could not care less, for me its net profit.
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Alex
I absolutely agree that considering yeild is a waste of time, so why does everyone bang on about it especially as they only ever seem to include mortgage costs.
To be honest if you borrow the money for an investment then remortgage using more borrowed money, pay yourself the 5-10% you put in although you should have borrowed this, then your yeild on investment is infinate as you've not used any of your own money!!!
O I do believe it!!! |
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AlexM,very well said.
ed,calm down dear! |
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Hey guy's thanks for the thread,i only try and put some perspective into property investing,in its many forms.
What works for one will not always work for another etc,so many variables.And you only get out what you are willing to put in.My main point is to be very wary of antone offering the deal of the season,and say again if it was that good why offer it around.
Talk is cheap and i am usually to busy dealing with property problems to spend too much time on forums.
There is no right way and wrong way just the way that works for you,and hopefully it will not cost you too much cash finding out from your mistakes.
When we make mistakes in the property business they are very costly.
So just beware.
And dont take things personally its only business. |
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Damian,
I was just interested in finding out some facts on the Stokton deal,as i know a very poor builder who operates in that area.
And i would i am sure blow the deal out the water when it came down to the real facts.
Remember it's only business. |
