get jamie & the gang to renovate it, then have a televised auction, could go for a cool mill I reckon!

urgh

thanks for putting the stupid song back in my head

I looked at the crowd on tv and the crazy bidding at auction and realised: “this is the turning point of the mania”

3/4 of a mill for a 2 bed flat…..mahahaha. hilarious!

All these budding renovators educated by the 12 or so tv reno shows, all out there overbidding on handyman delights.…[Read more]

ahhh now it all makes sense!

Steve is a closet farmer, that’s why he always buys in rural areas!

LOL

hey quasi

how bout a cashflow game as a seperate event?

we will be in for that, were gonna buy the game and choked on the $350 price tag.

westan

What am I wrong about?

I said house prices fell 30%, I just gave 2 reliable sources which back it up. Now both say 25% instead of 30%, but lets not split hairs. I havent been able to find the article I based my comments on, but surely you can accept that house prices in Sydney and Melbourne rise and fall roughly in sync, and since it has…[Read more]

“Country towns are only where dead beats rent.Unmarried mothers, drugies, unemployed who just won’t work.If they really wanted a job they would be in the cities.”

“I have four properties in Sydney. On the Northen Beaches.
Harbord,Dee Why & North Curl Curl.Plus one in the north side suburb of Chatswood. Total valuation
of just under two million…[Read more]

“which we have negatively geared for 5 years, and are considering selling it (Loan of $205000 – property conservatively valued at $320000.”

Now im just learning this stuff but need practice so here goes:

Loan – $205,000
Value – $320,000
Equity – $115,000
Original cost – $240,000 (est)
1. 5 years depreciation claimed @ 2.5% ? = $6k x 5 = $30k
2.…[Read more]

thanks Michael,

thats VERY different to what Jan Somers was saying in her book, which didnt seem quite right. She was saying that if you are single, and get in a boarder or 2, then you can claim 1/2 or 2/3 of everything. She also neglected the land tax issue.

“But the actual figures from the Victorian Valuer General doesn’t show a 30% drop you have been misinformed or maybe you had your head stuck in that sand.”

Your figures only show one value per year. Would you look at a stock chart with one value per year and guarantee the stock never had a 30% drop? it is entirely possible the 30% drop happened…[Read more]

“Interestingly, the median house price in Sydney dropped by 25% in 1989” (Business Review Weekly 12 July 2002

and this:

source: http://www.portfolio-planners.com.au/RTF/property-gosling.pdf

“And in a recent study UBS Warburg report that in Australia house prices fell by 25% in the two years to the end of 1990. The housing market again looks…[Read more]

“People only have to look back at Melbourne 10 years ago to remember the correction that the property market went through there. It was in the order of 20 to 30% as well”. Once again you quote Crashy without checking the facts.
This is not true i lived in Melbourne during this time and the market didn’t drop anywhere like you said.”

There was an…[Read more]

are you sure you are going to come out with 130k?

have you considered CGT?

I agree with Michael re renting.

what percentage is land tax?

A little insecure are we? God forbid someone else apart from you the trading guru should have anything to say. What you have just done is the equivalent of Steve blasting someone here for not knowing as much as him. It’s just egotistical dick swinging.

“Whilst I am a technical trader and have been since the time before personal pc’s I have to…[Read more]

count me in

paulnthiona@hotmail.com

Geez, beating Harry! spose any real Harry Potter fan bought the book on day 1.

Steve didnt mention volume, but lets just say its 100k books sold so far. Thats 100,000 people out there competing for the last 0.0000001% of positive geared property in the country. Think about that.

Steve, need your permission to use your book as a source/reference…[Read more]

geez, a lot of posts since Sat morn.

got about 10 emails, none from the people who originally emailed me though. keep em comin

you wouldnt pay cash for a house, so why do it with shares? if you had $100k, use dealforfree and only invest 1/2 of it. that way, your LVR is 90% instead of 95%. Or if you are really chicken, invest 1/4 of it. That $25k still buys you $500k in shares, and the market would need to drop 20% before you were at margin. plus you get paid interest on…[Read more]

when looking at possible future returns, its easy to look at recent returns and assume the same will follow. this however is usually the opposite. ovbiously a property boom cannot follow on top of another property boom. there are short term cycles and there are long term cycles, but they all revert to the long term average. its like flipping a…[Read more]

no fund that I know of, I would run one if someone lent me their dealers licence

like positive geared properties, positive geared shares do exist, just have to find them. the difference is, you dont have to beat anyone to them.