[Cabo WaboParticipant@cabo-waboJoin Date: 2005Post Count: 117]

October 27, 2005 - 11:59 am

Its hard to phrase what i want to say. Its more of view on life and one’s potential. Rather philosophical, and maybe a bit arrogant…

….Take the time to observe our society. Look at those around you. Not just tomorrow, but everyday of your life. Listen, and be open to new ideas. See what people prioritize in life, and what they want. Read history.

Eventually you will see that the majority of society aims for the “comfortable zone”, and that they don’t aim very high. Most people are happy to just cruise along, and not seek to learn something new everyday. They are mentally unchallenged and complacent, and unless born into it, financially ordinary.

Recognising this in others, sets you apart from society, for you are aware of the difference. You can see society from the outside looking in.

With this outlook, “capacity is a state of mind.” If you see society for what it is, and you believe in yourself, you can achieve anything.

I like this old proverb:
He started to sing, as he tackled the thing, that couldn’t be done, and he DID IT.

Cabo Wabo

[Cabo WaboParticipant@cabo-waboJoin Date: 2005Post Count: 117]

October 25, 2005 - 3:29 pm

I drive a green 79 HZ Premier with a 308 n a black vinyl roof. I’ve had it for 8 years, its real tidy n i love it. I know every nut n bolt, & I’ll drive it for many years yet. I doubt i’d ever buy a factory new car.

Cabo Wabo

[Cabo WaboParticipant@cabo-waboJoin Date: 2005Post Count: 117]

October 24, 2005 - 9:23 am

Do it yourself. If there is something you don’t know how to do… do it anyway. If your any good at all with tools etc, you’ll make it up as you go along. (thats not saying you don’t come up with a plan… but a good plan is a flexible plan).

People who are good with tools simply have used them more than those who aren’t. Its worth it ten times over because you need only learn it once, but can repeat it 1000 times.

Also, don’t be afraid to buy tools. Buying $150 worth of wrenches, or power tools, or what have you, to do a job that would cost you $200 if a tradie did it is WORTH IT, because you get a $200 done, you keep the tool, and you now know you can do it, & can do it in half the time next time.

I’ve just done the paving of a back patio. I’d never done one like it before.. more damn curves than Mae West, but i’ve learn from my mistakes, it looks good (definately good enough to add value) and i cost me a fraction of what a tradesman would have charged (especially with all the curves! – lots of cutting).

Don’t forget cheap new DIY light fittings (get rid of those horrible bloody 70’s chandleir looking things!), and new cheap door knobs. (brushed aluminum is IN, gold is OUT!)

Retic – Use the black flexible 20mm poly for retic (not the white PVC. It is SO easy and CHEAP!!!

OK thats enough from me

If you’ve the time, do it yourself…. go the tools….

Cabo Wabo

[Cabo WaboParticipant@cabo-waboJoin Date: 2005Post Count: 117]

October 24, 2005 - 8:46 am

I’ve been crunching a lot of numbers lately, and i’ve found (unless i’m stuffing my numbers up), that, if i borrow the whole lot including trans costs, a 60-150k property will still loose me money before tax even if i charge 120pw for the 60K and 300pw for the 150K property.

If i buy right, my LVR won’t be the killer, it’ll be my DSR! As i’m still a relatively small time (new) investor compared to some of you old time higher rollers, I realy need to be able to include my tax back in my DSR in order to maintain momentum (claiming interest and other fixed costs)…. at least thats what i think at the moment anyway. Maybe you’ll think differently and convince me otherwise….

What banks do and what banks don’t include tax back in a DSR?

Thanks

Cabo Wabo

[Cabo WaboParticipant@cabo-waboJoin Date: 2005Post Count: 117]

October 24, 2005 - 8:25 am

Thanks guys, i’m starting to get a better picture…. [cap]

I’m leaning towards the idea of buying a whole block of units. Whilst i can definately see myself buying single units as well, i like the idea of not having to deal with other owners regarding changes, fixups etc, and i like the economy of scale in the purchase. But you do pay a premium in stamp duty though.

Further to what you have told me thus far:

1) What increase in interest rate is associated with a “commercial deal”?

2) Is land tax based on dwelling number, block size, individual unit floor size, bed room number, dunnies, or what? What economy of scale can i expect from rates and taxes etc compared to buying a house?

3) Roughly how much is the average council rego for a multiple dwelling property and is it paid yearly, or a once off?

4) Do building / landlords insurance premiums vary much depending on whether it is a house or a block of flats?

5) Who pays for common lighting etc, the tenents of the landlord?

6) Does the tenent of a unit in a set of flats have different rights to that of a tenent of a house? …specifically, regarding inconvenience associated with renovating & maintenance?

7) Is George Dubblya really as stupid as he looks?

And lastly, do real estate agents grant you an economy scale in the management of 4 units in the same complex, as opposed to 4 houses?

Full of questions aren’t i?

Thanks heaps.

Cabo Wabo

[Cabo WaboParticipant@cabo-waboJoin Date: 2005Post Count: 117]

October 24, 2005 - 5:14 am

I too would greatly benifit from any tips n general rules of thumb regarding unit purchases.
What is LMI?

I’d be interested also to see if there are many advantages/disadvantages over buying separate units in a building, or buying the whole building itself.

I like the idea of units, but know next to nothing about them.

What are the yearly expense items of a unit / block of units, and more importantly, WHO PAYS THEM?

Cheers

Cabo Wabo

[Cabo WaboParticipant@cabo-waboJoin Date: 2005Post Count: 117]

October 23, 2005 - 2:08 am

“Right on!”

Cabo Wabo

[Cabo WaboParticipant@cabo-waboJoin Date: 2005Post Count: 117]

October 8, 2005 - 5:54 am

I work in the mines. [builder] Mining powers australia’s economy.

I’d like to see someone try n tell all the mining pty’s that they’ve gotta park up there fleets for 24hrs, n shut down all those pesky iron ore trains & export ships, & turn around all those fuel roadtrains enroute to sites, n such.

It’d be worth it, because the industry wouldn’t stop laughing [laughing]for about a week, and everyone up here would be in such a merry mood from all the humour.

Life’s not that simple. I got that email n deleted the sucker. Yes fuel does impact us here in the mining industry. Where i am, last year’s fuel and energy costs were budgeted at 42%. [dead2]Thats a lot. For us this year, increased commodity prices have offset increased fuel prices.

Everythings in balance: the individual, the pty and the economy.

That email, although it meant well, wasn’t thought through.

As for me, i drive a HZ with a great big stonking V8, and i love it, n wouldn’t trade it for all the tea in china. [bike2]

“Earth first, we’ll mine other planets later.”

Cabo Wabo

[Cabo WaboParticipant@cabo-waboJoin Date: 2005Post Count: 117]

September 29, 2005 - 1:11 pm

Julie,

Definately a beginners book. Its perfect for me.
In well writen laymans terms, he walks you through (broad strokes) all the steps and stages of building a single story 4 unit development.

Cabo Wabo

[Cabo WaboParticipant@cabo-waboJoin Date: 2005Post Count: 117]

September 17, 2005 - 8:10 am

Captain Picard,

It was with great delight and humour that i viewed your call sign… nice work dude.[biggrin]

I’ve a question. I am greatly interested in what database you are using, and how you gain access to it. (as u said, the same one RP data, aust business research, and nat resources & mines use). Whats it cost?

Very interested indeed.

..engage………

Cabo Wabo

[Cabo WaboParticipant@cabo-waboJoin Date: 2005Post Count: 117]

September 15, 2005 - 1:41 am

I’ve also an IP in ellenbrook. The place is gonna be a real lil mini city. Its at that point where a lot of development is about to finally come into its own, and make the place bloom. Its been developing for a decade or so now. I think any suburd in the immediate area will do real well in the next few years as people start to sit up and take notice.[drummer]

Cabo Wabo

[Cabo WaboParticipant@cabo-waboJoin Date: 2005Post Count: 117]

September 15, 2005 - 1:26 am

Janette (go Girl!)

Have a look at the ‘Help Needed’ forum topic “Perth, where to invest”. There’s a dude in there called TMA, who’s realy loves Geraldton.
I’m sure if you send him an email, he’ll be able to point you in the right direction…

Regards,

Cabo Wabo

[Cabo WaboParticipant@cabo-waboJoin Date: 2005Post Count: 117]

September 15, 2005 - 1:02 am

Yup, [strum]

That link will take you there. I’ve bought it, haven’t had chance to read much of it yet, but i think it has much promise.

Regards

Cabo Wabo

[Cabo WaboParticipant@cabo-waboJoin Date: 2005Post Count: 117]

August 14, 2005 - 5:52 am

Its the lifestyle. Very transient, not much time for family, unless you live in a tiny mining town. I’ve seen a lot of people divorced in the mines. Kal was about as small as i think i could ever handle, so for me, as long as i’m in the mines, its fly in fly out. Moneys good, and you get a lot of responsibility at a young age, so thats good too, but like i said, its the lifestyle. If only all the good deposits were within half an hour of the city. Maybe i should go blow up and mine rottnest or something. [biggrin] Might have to relocate the quokka’s though… Are you still in the petroleum industry?

Cabo Wabo

[Cabo WaboParticipant@cabo-waboJoin Date: 2005Post Count: 117]

August 14, 2005 - 12:03 am

Sue because you can, not because you should….Sh%ts me to tears….

Cabo Wabo

[Cabo WaboParticipant@cabo-waboJoin Date: 2005Post Count: 117]

August 13, 2005 - 11:06 pm

Mike,

Nice web site. The section regarding your team members and their background is particularly interesting. Very helpfull indeed. I’m gonna hunt around and see what other similar web sites are out there.

Cabo Wabo

[Cabo WaboParticipant@cabo-waboJoin Date: 2005Post Count: 117]

August 13, 2005 - 10:46 pm

Thanks Mike for your reply. I appreciate your candidness….Give me the facts of life, not just a rosy picture of what i wanna hear. Got a whole bunch of quetions for u now though…

What kind of roles do your 9 full time employees fill? That is, what kind of role do you not outsource? Is your firm considered to be of standard size? Are there many large firms out there who would not usually outsource. Just trying to get a feel for “the typical development pty”. I’m accustomed to large mining pty’s, so i’m sure that the structure and needs of a developer firm would be quite different.

I’m workin on the entrepeneur bit though..

Dazzling,
Yup, i started at WASM in 94. We were also very culturally sensitive. Raunchies at the foundry, more beers at shaft bar, then dawn at Sly’s. Not to mention buckets. Not sure i know you’re crowd mate, but i do know where you’re comin from..brother. Don’t know a Muki (maybe he is dead) Hey, was Bairdy there when you were there? Now he’s someone i used to wish was dead… opps did i say that?

Cabo Wabo

[Cabo WaboParticipant@cabo-waboJoin Date: 2005Post Count: 117]

July 22, 2005 - 3:33 pm

My two bobs worth: (wax lyrical)[biggrin]

The control and grasp of the modern economist on the direction and stability of economies these days is infinately superior than what it was before the great depresssion.

No-one was interested in business cycle research prior to the great depression because no-one fully understood the dangers. Its been an important field of study for a long time now, occupying some seriously big brains[dead2] and government resources, all bent on developing and implimenting fireproofing systems for economies, against the previously misunderstood and ignored forces within.

Things we now take for granted weren’t around back then. Leading indicators now give economists forewarning of change, thus allowing them to diagnose and stave off/reduce downturns. Automatic stabilizers such as the dole ensure minimum levels of demand are sustained, thus avoiding snowballing. [suave]

In the 1950’s, in the US for example, 30% of all jobs were in manufacturing. Today, that figure is 11%. The service sector today is 83%. Service orietated businesses are have fewer inventories, and less capital outlay. By nature, they are less susceptable to downturns. This small example, means that today a greater proportion of our economy is less cyclical than it was before.

What i am trying to say, is that economys today, whilst acted on by the same age old forces, are different animals to those of yesteryear, and are understood a whole lot better.

For me, if there was gonna be a huge depression tomorrow, i’d rather have my money in bricks n mortar any day than in shares. We live within our economies so there’s no escaping whats around the corner. It might be good, it might be bad.

I like to thing the sky won’t fall on my head, so i’m gonna go on buying houses, invest wisely, make em all affordable, below median price etc (rentable even in a depression). I’ll go on reading stacks of property/motivational books (RDPD was foundational for me), and do the best i can no matter what the economy does. I’m not saying lets all be ostriches, i’m just saying, keep a level head, do your due diligence, and be positive.

I don’t dwell on the negative hype of the media, because to them, good news is boring news, so bad news is great news (keeps us all glued to our sets). I long for the day when the news is about 30 seconds long and all they say is “Nothing at all of interest happened today (translation: nothing we can scare you about), it was totally oridinary and calm… Goodnight.” [chill]

Cabo Wabo

[Cabo WaboParticipant@cabo-waboJoin Date: 2005Post Count: 117]

July 17, 2005 - 9:29 am

[lmao] Devil,

Thats totally awesome. Downloaded it, and have spent the last 3 hours totally spun out. 3D, holy sh%t![strum]

I just can’t get over how trippy it is to zoom in to say about 500m off, rotate to about 30 degrees, and just fly!!![specool] (venice is a goodn & so is new york). Some parts of globe have better clarification than others (expected), but ausie cities are pretty good. I can see my house from here…

Imagine what it will be like in 5 years. Planning a world trip would be so easy with this thing! Full points dude, full points…

[egypt]

Cabo Wabo

[Cabo WaboParticipant@cabo-waboJoin Date: 2005Post Count: 117]

July 15, 2005 - 9:41 am

Thats a damn good question. I’m intriguged…
What does the ave RE agent earn?

Cabo Wabo