About

 

 

My Story

Hi my name is Daniel Cameron you might know me as ‘Jaffasoft’ as that’s what I go by around the traps. I like dabbling in a bit of web design and this is how this site came about and was built entirely by myself. I self taught myself everything I know about it from learning online. I hack my way through. Nothings professional and nothings perfect but is life even perfect?

In 2008 I set out to try “make it” in real estate to just improve my income and in turn my lifestyle. I’d been living in a car and by then a Campervan. It was nothing flash, just a mattress from Selvo’s and some cloths. I lived out of an esky. I seen a few places and travelled around Australia. I was broke every week. I used to see opportunities on these trips to just do things that cost money and I wandered a way I could afford it. This become my WHY. I really want to see and experience different cultures this planet has to offer in various places. One of my ultimate goals is Africa because I just love the animals and the natural environment.

With a modest goal… not to be super wealthy but to just earn a reasonable income. I set about buying some positive cashflow properties. “Yes, Positive Cashflow… Positive Cashflow…. lets all go out and buy Positive Cashflow Properties was the tune of the day”. I learned about the strategy from a well known property educator in the industry. The theory was simple and catching to believe but the reality I later found out the hard way was a little devastating to say the least and far from the starry eyed vision I’d once conjured up.

I tried to rent a property myself first under directions from my mentor. The idea given was to do student accomodation. It didn’t work, I ended up in court and lost my bond and was back on the streets again. I was renting rooms to cover the rent and $100 extra in my pocket each week but it was short lived. The agent done a surprise inspection and wasn’t at all happy with the number of people I had living in the property. It was only five. It turned out I was in my right so the judge explained to the property manager but by that stage I just wanted out. The next was the house I got under a contract subject to umm NOTHING, the agent forced me to sign it with no subject to clauses. So I just agreed to sign it after a light argument. But after seeking some sort of advice from my property educator and mentor I still could not find a way to finance the deal. CBA said NO to financing the deal. Luckily I was able to rescind the contract because of a one in a million glitch with the contract. The titles had the wrong land size measurements and the banks valuer picked up on it and it caused a huge kerfuffle and delays because all the services needed to be notified which took ages (almost 9 months). I only put a $200 deposit down and eventually I got that back. Otherwise this contract was unconditional from day one and I had to find a way to fund it.

From humble beginnings and from an income most would consider near impossible to start from. I managed by learning to save first and foremost then never giving up, persevering plus believing that I could despite the nay sayers. I’d have to concede that buying a be-it unliveable, disused old butchers shop subject to council approving me to convert it to a cosy liveable unit.. apart from being a little left of centre and against all the odds, was one of the most difficult things I ever done.

After simply submitting one humble little text from my old $20 phone late one Friday afternoon, after I had heard about this property that was passed in at auction and dropped by to have a look. I had no credit but a couple of free texts left. I soon owned my third property by 2011! It got as easy as buying a loaf of bread from the corner shop. The banks started lending me money.

I’ve seen it all in self managed rental properties in lower socio economic areas. I’ve been threatened to be “punched out” more then once, seen holes in walls, drug addicts and drunks to covering the front page of the local paper with devastating stories of horror tenants that left appalling messes not to mention the ice users that stopped paying rent. I lost trust in human nature after a while and it really started getting to me. The total and utter disregard these tenants were having on the property i just spent a year saving and renovating to see them damage things. To rub salt into the wounds the cowardice way every one of them would leave not paying the rent and not to be found ever again. If I did see the odd one down the street which often I would in this small country town it would be an awkward moment and I even began worrying about the conflicts arising from it at times. At first I thought VCAT would be my saving in grace and it’s a place that almost become my second home. But I learned that everything is in favour of the tenant and they never pay a cent even though an order would be issued against them. I learned it was a waste of time even going.

I’ve learned some valuable lessons but there is an upside to this story. I’m gratefull and i appreciate that I own my own home now and I don’t have to pay rent. My income has increased a little and life is a bit more comfortable. I own a much better Campervan now and I actually still live in that and it’s even got a fridge and somewhere to cook food. I built a nice little base of which I can get out of this “ghetto” style of investing. By now leveraging the equity I built up and going into…. you guessed it!! Sub division and or “Splitter Blocks”. A strategy that does not involve managing tenants. Please don’t give me another tenant again!

If you want to read a little bit more about my story and back ground I was featured in the 2015 Your Investment Property Magazine. They said I won a placement in the Australian Investor of The Year Awards. I think I came fourth which means I came last. I think I was a looser but they hailed me as a winner and an example for everyone to be inspired by. I don’t recommend anyone goes through what I had to deal with during managing this strategy. But I will put the link up to the article if you want a read. But give me time…. I’ve got to get it uploaded and organised. I’ve only just began rebuilding this web site.

 

About

This site is now evolving into more about me and you merging into the strategy of Splitter Blocks and subdivision and aims to give you insight into who I am via videos of me and also opportunities to Joint Venture with me.