Hi all,
further to your buying vacant lots, a friend of mine goes in as early as he can and buys the parking lot of a new development. He then rents it back to the Developer (minimal rent). The beauty is that these lots are generally with out requirements to build (ie: no time limit as to when he has to build) so he can do what some of you have…[Read more]

Hi all,

let me start off by informing you all, that I officially HATE moving! We worked out that, since being in Hedland, we have moved 1.5 times p.a.![grrr] [grad] – gotta learn sometime!

That is the only emotion I am currently experiencing (too weak for anything else).

Kay, my master plan is (at this stage) Buy and Hold! I know that there are…[Read more]

Thanx all for your comments,
some took the focus of my worries, some were helpful.
The house is a good buy, so I’m not going to ‘sweat the small stuff’.
To tell you the truth, I believe that I actually put “to the purchasers satisfaction’ on the individual clauses! I’d have to go back and check! First real purchase and I’m all giddy. Wots that…[Read more]

Try the Valuer Generals Office.

Cheers

C@34

Why sell it if it is a good investment? SOme of us look for good investments to keep long term.

Cheers

C@34

Giday alwayscurious,
It almost sounds like you cross-colateralised?! How did you get 110% for your IPs? If that is so, you might have to sell ALL your properties, including your PPOR.
Hope I’m wrong, but I too would try to do all that is necessary to hold onto the IPs (its worth while in the long run).
There are several Mortgage Brokers on this…[Read more]

Doode, I applaud your enthusiasm,
I hope you keep it up (take notes because your book would be a winner) so that when you are at the stage where you can actually do this, you’ll have all the knowledge you need!
I envy you in one way, where would I have been if I had started at your age? Your challenge will be to learn patience until you can afford…[Read more]

I didn’t call it taking th ‘piss out of them’, but I have used Jenmans “expose” on REAs to do a lot of research in my area. It was good to get that info from a book as I soon discovered which REA I would use to sell and which I would stay away from!
His book, I think it is called ‘Real Estate Mistaches’ or something. Got some good questions and…[Read more]

Great Scully,
@ 80% of your PPOR (no mortgage insurance) you could draw you loan to $320K (less $264 to go) gives you around $56K to invest. Using 20% deposit and 5% as closing fees you could be looking for an IP upto $220K.
Not too shabby. It’s an amount you could start looking arround for.

Cheers

C@34

Welcome Scullie,
more info on your situation would be helpful to give more specific advice, like mortgage amount – house value (equity), any savings you might have, how much the new place would be (approx). This is the kind of info most of the forumites work of to see if the risk is accepteble to them.
Something to help you make up your mind is,…[Read more]

Sorry Ceza, but what is a S&P?
I know what an O$A is but you have left me in the dark. Still learning I guess.

Cheers

C@34

Yack, Kay Henry,
both of you sound like my wife (a good thing in my eyes).
I guess you’re right, not too shure what I was expecting. I would like to be BETTER next time I buy a house! So knowing the true facts on the Laws would be an advantage. I feel a bit blind-sighted by the REA. It allmost feels like he humoured me by taking these…[Read more]

Kay

Code:
Blue and green is the new black :)

I loveit, got anymore like…
‘Positive gearing is the new negative gearing’
‘obesity is the new anarexia…’ etc ?

[biggrin]LOL
Thanx WallFlower, I got a good chuckle out of that, even if you had a go at a FELLOW forumite!

For the book, i’ll anticipate its release. I hope it will add to my…[Read more]

Good morning all,

Firstly to Yack:Is Sons of Gwalia there? Did they not just go under because they underestimated their gold reseves.
Sons of Gwalia have their main operations in Wodgina, way up north. That is not to say that they aren’t in Kal., though.
Secondly to Francois: I like to know if this area will attract some capital growth in the…[Read more]

Posted – SuperTed
Has there been a labour goverment that has actually left the country in a better financial state then when it took over office from the liberal party??

I agree with Super Ted and Anubis, on this one. My judgement has been coloured by my experience with my parents in business. If their business was doing well, so were the…[Read more]

Love it!

Sent it to my wife AND mother-in-law!

Keep your chin up, even if the neck is dirty!

Cheers

C@34

Welcome to the forum llewtanner,[thumbsup2]
from memory, Steve initially used saved capital and at a later date was able to use both equity from the purchased IPs and his own home to continue buying IPs. The +cashflow that resulted from these houses allowed him to borrow more money (as he never outrightly paid for a property, just a deposit).…[Read more]

Is some-one able to explain why the two different measures? Why have sqm and squares (@ sqm/9.2)?
Sorry to be so slow.

Cheers

C@34

Thanx Miek
welcome to this forum.
So is the term squares and square meters interchangable (as in the same)?

Cheers

C@34

I would definitely advise combining the mortgages into one.
I hope you have forgotten a word here, luckyone :”NOT”. Cross-collateralisation (auch) is a dirty word IMO! It gives the Banks/lenders far more equity than is required AND they can, if the mud hits the fan, force you to sell both properties!
From the rest of your post, luckyone, it infers…[Read more]