Forum Replies Created
G’day dmichie,
The trouble with having a property down turn,is that all other segments of industry follow.
The building game supports more side industries than all other industries put together.
Suppliers of all types of building accessories. Baths,taps,nails,paint,timber,bricks etc
Tradesmen out on their ears would be plumbers,carpenters,painters,electricians,roof tilers,truckies etc.
In your “down turn” people would be retrenched.Who knows,even your job could go.No job no property investments.
So you’re no better off.You could even get your wish, the world’s economies are all showing signs of slowing.
China is producing more goods than the industrial
world needs.
China is building six million cars a year.But they only sell three million cars. Three million surplus.Now what!!!
Not a pleasent thought!
Being a government worker makes me safer than most.I beleive the down turn has accually started.
Yesterday I had two phone calls.
1) The bank, asking if I’m happy with my loans and could they assist me in any manner.Do I need to borrow again?
2) A mortgage broker cold phoned me, wanting to do business with me.I’ve never heared of him or his company(Australian Finance Group).
Business not doing well?bruham.
If you do your research throughly,and are involved with a reputable company, then they might be just “ok”.
Companies selling them off the plan make huge commissions.So they’re tens of thousands of dollars over priced.
Everyone involved,has their hands in your pockets.
Right up to their elbows.
I wouldn’t touch them with a barge pole.Only my thought.
bruham.I’ve been around for a long time.
In that time I’ve read many posts on this and other websites.They all have their low times.
It could be that you read the same comments, slightly differently written, but basicly the same.
The only two property websites in Australia that are worth the effort is this one and Somersoft.
With this site you are freer to express yourself that Somersoft.
Somersoft “monitors” really are full of themseves.They believe that they have the “right” to edit or delete anything that isn’t in their line of thought.
Their website is there for their ego.Just my thoughts.
bruham.G’day,
It’s easy to get the boot from this forum.It happened to me. Took a year to come back. Can’t remember “the” comment.
I’ve been booted off this and other forums three times,that I can remember!A low dollar is the best possible situation this country could be in – provided it is not caused by our incompetence in the way we manage the economy.
When “our” dollar was low,it was low because the “yank” dollar was so strong(high).Australia had the strongest economy in the world.
For tourists,it was so cheap to holiday here.
Yanks and pommies doubled and tripled their currency on arrival.A depression!!!!!
Only a fool would want one. The thought scares the sh-t out of me.
Misery on the world.
How many of “us” lot would survive in a depression?
I can feel the hairs standing up on the back of my neck thinking about one.
LEAVE THAT SUBJECT WELL AND TRULY ALONE.[offtopic]
I can’t even make a joke about it.bruham.[chill]
Go the best team,they will thrash all the teams.
No need to mention their name as everybody already knows who I talking about.
THE SWANS.
First the SYDNEY SWANS, second — daylight!!
Richmond (the footy team) last.
Then to be relocated to the south Island of NZ!!!!!
Re-named Dunedin pussy-cats.The Manly rugby league club has a good hip and shoulder man in John Hopoate(Hoppa)available,as captain. He will put plenty of back bone into them.
Richmond needs something put into them.bruham.
Every day above the ground, is a bonus.Long live HENRY KAYE!!!
By far and away Henry was the “MAN”.
I went to his Sydney seminar(show) a few years ago.My tickets were free(love that word).
He called the “cops” for the removal of some poor little old man who called out “you’re wrong”.
Henry couldn’t take criticism.Henry taught me the smoothest of all tricks.
You open ten bankcard credit card accounts for ten thousand dollars each.(Must be on the same day,this only shows up as one credit application).You then buy ten insurance deposit bonds.These are used as deposits for ten off the plan units
(apartments).
Two years down the track,property values are jumping, units are completed, you sell nine
and the profits give you a brand new unit for free(love that word-again).
Of course,times are now different.Property is now on the nose.BUT NOT FOR MINI!!!
Smart girl Mini has the right property waiting for you on the South Island of NZ. I’m almost tempted to surrender to you by admiting that you know best and for you to do me a property deal.
I’m thinking about it.Mini,I only tell the truth.
This would be a very dull website without your input.
There’s something different about you.
(I don’t have much time to play with websites these days. I’m absolutely flat-out.Work work work).
I can’t put my finger on it,but there is a difference with-in you.
What could it be? Flicked the boyfriend-found GOD-escaped from Sydney,back to NZ.-getting old?????
Take care.bruham.
Every day above the ground, is a bonus!!!!G’day Mini,
The difference between you and Margaret Lomas is
that “we” know you. Margaret lomas “we” don’t.
Plus from all your posts,you have showed that you’re a very clever person.
Way ahead of me.
I hate to admit that I learnt a few things from you.
If I was to have a mentor,Mini you would be my number one person for the position.
Take care.bruham.
Marisa,
It’s nice to read a post from a professional. You go about your business in a most professional manner.
I look forward to reading more of your posts.bruham.
Tokyo Joe,
Here’s a story (true),that will kill your theory
of only raising the rent when the tenants leave.
After world war 2 (don’t mention the war).
A married couple rented a house in Manly, near the beach.The male refused to buy a house, as this is wasted money.
Two years ago he died. The wife lived there for another two years.It’s only now that the wife has moved into a nursing home.They rented the same house for sixty years. True story T.J.My rents goes up every two years. An increase of ten dollars.Thats an increase of five dollars per year.
It’s not worth the effort moving for a small
rental increase of five dollars a year.
I hope!bruham.
canneram,
Interest rates jumped by 0.25%.
All the “experts” claim that this rate rise is totally unnecessary.
The economy is slowing faster than everyone thinks.
So here’s hoping that RBA doesn’t go over board and kill the economy.
Then again, who cares what anyone does, as long as I’m alright!!!
(I’t the JACK system).bruham.
The problem of giving out tax payer’s money,for any reason,only causes people to want more.It becomes free and easy money,for the recipients.
While governments keep throwing money at our proplems,the problem only keeps growing.
“Give a man a fish and you’ll feed him for a day.
Teach him to fish and he will feed himself for life”.
So the answer is to teach people to have RESPONSIBILITY for themselves.When John Howard threw money at the family, in the form of a baby bonus, he created a huge spending spree. On everything but their children.
Boosted the economy to new heights.Hospitals can’t cope with patient numbers.
At three o’clock on a weekend morning, crowds of people sit around the emergency ward(for hours), of Manly Hosital.Why? it’s free.
At the medical centre,three miles up the road, where you must pay forty dollars,before you claim
your medicare rebate, the place is empty.
Two reasons.
one you must pay.
two, you only wait ten minutes,maximum.
While people feel that the government should pay, the situation will only keep going from bad to worse.
The answer is for everyone to part pay their own way.
Education, pay for their books,pens,pencils and contribute to the school fund.
Medical,at least belong to a basic private health fund.
Transport,it’s unbelievable the amount of people who travel on some form of government assistance,
concession, travel passes.
Of cause,there are exceptions to the rule.Some people do slip through the cracks. They must be looked after.
Just my thoughts.
bruham.G’day “The Newsman”(Richmond),
Rich,reading your post regarding nannies,reminds me of “your”(Channel Nine) television show Wife Swap USA.
In an episode,a millionairess swaps her life style with a timber cutter’s wife.
The millionairess is obliged to do the timber cutter’s wifes work. Splitting timber.
The timber cutter’s wife then lives the life of the millionairess.
The TC’s wife becomes the partner(no sex)and mother to the millionairess family.They eat out at least six times a week(no kids).
When they do eat at home it’s not with the kids.
They have four nannies full time.
If the kids need anything at night,they call out for the nanny.
I won’t bore you with the rest of the episode.
But it’s certainly an odd way of living.
The parents don’t know the children.The kids don’t know their parents.
But what a life style they have.I love reality tv! KEEP IT COMING NEWSMAN!!!
bruham.
G’day The Mortgage broker,
You were right, Yesterday was a black day.I work seven days a week.I’m not use to having three days off.
Day one,Christmas Day, It passed beautifully.
Day two, Boxing Day, came through. No worries.
But that third day almost killed me. So bored. I couldn’t even read.I tried, but the brain wouldn’t co-operate.
Jumped onto the website and didn’t read the post properly.I had to have a go at some one.Your post got me.
I’m not going to apologise- sign of weakness.
Mother says a sign of good manners.Day four, I WORKED and loved it.
Back to my A-soll self.bruham.
The Mortgage Adviser,
The brain-dead dopes doesn’t necessarly mean on this website.But then It might.
Like some of the newbies,with their first posts.”please help me, as this is my first post.How do I get started?” Etc, etc.
If you have people who relate to Henry Kaye and swear by his systems, then you can convince people of anything.So let’s suppose that you have a fellow who is up to his neck in debt. Owns his own house. borrowed all the equity that’s avaliable in his house and invested in three or four investment properties.
Has one loan covering the entire debt.
He now realises his mistake and wants to break the loan into three or four loans.With different loan offices.
Again his problem is that he signed for five years
fixed interest, interest only. With four years to run of the contract.
I should imagine this situation would not be new to you.
How do you help him?bruham.
One property millionaire.The terrifying thing about this post is the fact that you’re putting your home on the bottom line.
If anything goes wrong you’re STUFFED.
You professionals should know better than to push brain-dead dopes into saddling up to their necks with debt.
The idea of buying investment properties this way could be the worst decision they will ever make.
Losing the lot,at worst.
Stuart Wemyss, I read your articals in the API
magazine and are very impressed with all that you write.So this supprises me.Almost like gambling, mortgage insurance.bruham.
Have the courage to take your own advice.Peter Spann had to have a backer,to do as his book saids.I tried to do the same years ago. The banks all knock the scheme back. You can do it two or three times, but that’s it.
You must remember, that Peter Spann also users his follower’s money to assist his cause.
He invites them to form partnerships and he even has managed funds and share portfolios,to create money making avenues. This of course comes at a cost,to his supporters.bruham.
G’day SlumLord,
My disbelief is,she borrows $140k in a line of credit.Then goes on a spending spree.
Buys house no.1 $276k.Plus reno.of $25k.
Buys house no.2 $265k.Plus reno.of $25k.
Buys house no.3 $310k.Plus reno.of $12k.
That’s a total spending of $913k.
Not bad for a loan of $140k.
Twenty percent deposits would total the LOC loan
at $182,600.00.So she’s up for mortgage insurance.
It doesn’t matter what the new values are,as valuing the houses is meanless exercise for her.
It’s the loan repayments that will be the killer.
She then rents them on low rent, she’s not greedy.
This ensures that they’re all tenanted.
Low rent returns and large repayments. Not good.
And of course,poor hubby has too bend his back even further to support this new loan.That’s why she can go for low rent returns.The old man is working himself to death keeping up with the payments.While the little “love” sits at home,doing nothing.Well a little bit of home “duties” perhaps!
No wonder blokes die years before the women.bruham.[angry2]
Depreciator,
No parking problem in Annandale! I drive through there regularly and I’m stuffed if I can park.Not knowing too much about what damage that can done to you’re house,being used as a business.I would think that it wouldn’t make much difference to you,as long as the rent kept coming in.And of course,no damage to the property.
bruham.
I’ve read Peter Spann’s book. Didn’t learn a thing!
Nice reading,I did enjoy the book. BUT,I had a problem with one of his pupil’s stories on page thirty two(32)..Read it and see what you think.
When I mentioned this to Peter Spann, he said all these letters had been verified.
I’ll give you my opinion later,I don’t want to corrupt your mind with my way of thinking(thoughts).
The book only works when property values are going up.
If that was the case and you could buy multiple
properties without using the equity in your home then I would give it a go.waprincess,Rich Dad,Poor Dad is a fairy tale.
There is no such person as “Rich Dad”.It’s just been made up to make his story telling more readable.bruham.
Lucifer_au,
Private developers should be wary of public housing close to where they’re out to make a killing. Remember years ago,when you first thought of buying a investment property.Dad would caution you about buying near “housing Commission suburbs”. Well,it still goes,so developers will be examining exactly how much will be public housing.
I drive through Green Square every week.And I can tell you that,that place is a disaster.And it’s only quarter finished.And it’s all private development,no public housing near it.
Just my thought.bruham. [withstupid]
