Forum Replies Created
- Lalibella wrote:Hi Devo, I'm unsure what part you don't believe. The first line was a joke ( google sense of humour)
However the rest, I'm afraid is true. No I wont disclose his address or even city. Its tightly locked away and is not driven or shown hence is never seen at shows or rev head picnics etc.Nothing wrong with my sense of humour mate but are you saying a " mate" has a phase 4 sitting in his garage? This i doubt. The handfull that exist are priceless now and all accounted for. Whats the old joke they say about phase threes. It goes something like.
Out of the 300 or so phase threes that where built. Its a shame there is only about 10,000 left in existance.
Lalibella wrote:Well ,Ford Phase 4 GTHO Falcon actually. Great to drive to work each day……
My brother just met a guy who bought one in the seventies for 20K.
Has sat safely in his garage since then, rarely driven.
Now worth…..? anyone's guess.
Google it.Umm I dont think so.
It will depend on specifics of your offer as you can negotiate many things. Generally a deposit given before contract signing will be refundable as long as you note in your offer that it is conditional to finance approval building pest etc.
I made an offer last week prior to auction and it was accepted. Now i am rushing through building and pest inspections . Finance although it will not be a problem will still take a week or two. This is the time when anyone can buy it out from under me. I attempted to offer a reasonable deposit now and sign contracts before finance willing to lose it if finance fell through ( it wont). But the owner will not do it so im annoying the bank manager daily.
You may be able to make your offer before the auction. This may give you time to do your inspections after offer acceptance but you run the risk of someone coming in higher. You are only safe after the contracts have been signed. Some people manage to negotiate a extended coolong off period so they sign straight away and do there inspections during the cooling off period. This is not done often with offers before auction.
A sustained turn around would not suprise me. A few years ago i was just about to jump on a christies beach property.Turns out around 2 years later the same property achieved over 50% growth before subdivision( Big block). My target after that was a unit in a converted wharehouse in chippendale. Units in the same block a year on have an asking price of around $50,000 higher with sold sign soon after. Seems im falling into that woulda,shoulda,coulda hole.Am i convinced we are at the bottom,no. but with my success rate so far that might be a sign to others to buy right now.
blogs wrote:devo76 wrote:Fair point. But picking the bottom to buy is a hard thing to do. If the numbers stack up then it shoudnt matter. If my parents bought there home many years ago for $35,000. Do you think it matters now if they could have waited for another year and got it for $32,000. Its value today makes these figures redundant. To say investors only buy in a rising market seems very strange to me. Im sure many would disagree with this. Oh and thanks for the comment on my brain power.Not sure which of your 6 posts I was to reply to, but here goes…
Mate, you could use your logic just as easily in the stock market-who cares if you buys at the top just before the crash-as in 10 years time the value will make the bu yprice redundant….
I think its silly to buy just for the sake of buying, especially when EVERYTHING is indicating the prices will only get cheaper. If you have enough money that you dont mind blowing 5-10% (which could easily be $20-$40k average) then good for you. Im not that rich yet so those numbers matter to me..
And as for brain power-ummm you are the one who had the first swipe saying poster like me should find something better to do with their time….? Just returning the favour buddy
Good point. But as you say you dont have 5%-10% to blow. I would prefer not too myself also so my offers a low enough to allow for this and more. Not bullet proof i know but the fact is there are some good buys out there ATM. It may drop more but if you choose well and pay the right price you should be buffered to some degree, an investor could buy now with some assurance that it will pay off in the long term. This is the boat i am in now.I would not buy for the sake of buying. Never have and never will. But the fact is in my target area there are buys well below peaks of a few years ago that cost nothing to hold and have room for improvement. This to me is a good thing regardless if properties soften further.
PS And on the brain thing again. its very hard to defend my brain power after posting six times so i think i will just run for the hills.
blogs wrote:devo76 wrote:I love it when these for and against property investing post pop up over and over and over both on here and somersoft. The for posters are here for the right reason. The against really need to find something better to do with there spare time.I love it when people arent bright enough to realise comments such as mine are discussing investing, and part of investing is analysing when to buy and sell. If you are happy to buy in a falling market you arent a investor, so perhaps its you who needs to find something better to do with your time…..
Fair point. But picking the bottom to buy is a hard thing to do. If the numbers stack up then it shoudnt matter. If my parents bought there home many years ago for $35,000. Do you think it matters now if they could have waited for another year and got it for $32,000. Its value today makes these figures redundant. To say investors only buy in a rising market seems very strange to me. Im sure many would disagree with this. Oh and thanks for the comment on my brain power.
blogs wrote:devo76 wrote:I love it when these for and against property investing post pop up over and over and over both on here and somersoft. The for posters are here for the right reason. The against really need to find something better to do with there spare time.I love it when people arent bright enough to realise comments such as mine are discussing investing, and part of investing is analysing when to buy and sell. If you are happy to buy in a falling market you arent a investor, so perhaps its you who needs to find something better to do with your time…..
Fair point. But picking the bottom to buy is a hard thing to do. If the numbers stack up then it shoudnt matter. If my parents bought there home many years ago for $35,000. Do you think it matters now if they could have waited for another year and got it for $32,000. Its value today makes these figures redundant. I am very sceptical
blogs wrote:devo76 wrote:I love it when these for and against property investing post pop up over and over and over both on here and somersoft. The for posters are here for the right reason. The against really need to find something better to do with there spare time.I love it when people arent bright enough to realise comments such as mine are discussing investing, and part of investing is analysing when to buy and sell. If you are happy to buy in a falling market you arent a investor, so perhaps its you who needs to find something better to do with your time…..
Fair point. But picking the bottom to buy is a hard thing to do. If the numbers stack up then it shoudnt matter. If my parents bought there home many years ago for $35,000. Do you think it matters now if they could have waited for another year and got it for $32,000. Its value today makes these figures redundant. I am very
blogs wrote:devo76 wrote:I love it when these for and against property investing post pop up over and over and over both on here and somersoft. The for posters are here for the right reason. The against really need to find something better to do with there spare time.I love it when people arent bright enough to realise comments such as mine are discussing investing, and part of investing is analysing when to buy and sell. If you are happy to buy in a falling market you arent a investor, so perhaps its you who needs to find something better to do with your time…..
Fair point. But picking the bottom to buy is a hard thing to do. If the numbers stack up then it shoudnt matter. If my parents bought there home many years ago for $35,000. Do you think it matters now if they could have waited for another year and got it for $32,000. Its value today makes these figures redundant. I am
blogs wrote:devo76 wrote:I love it when these for and against property investing post pop up over and over and over both on here and somersoft. The for posters are here for the right reason. The against really need to find something better to do with there spare time.I love it when people arent bright enough to realise comments such as mine are discussing investing, and part of investing is analysing when to buy and sell. If you are happy to buy in a falling market you arent a investor, so perhaps its you who needs to find something better to do with your time…..
Fair point. But picking the bottom to buy is a hard thing to do. If the numbers stack up then it shoudnt matter. If my parents bought there home many years ago for $35,000. Do you think it matters now if they could have waited for another year and got it for $32,000. Its value today makes these figures redundant. I
blogs wrote:devo76 wrote:I love it when these for and against property investing post pop up over and over and over both on here and somersoft. The for posters are here for the right reason. The against really need to find something better to do with there spare time.I love it when people arent bright enough to realise comments such as mine are discussing investing, and part of investing is analysing when to buy and sell. If you are happy to buy in a falling market you arent a investor, so perhaps its you who needs to find something better to do with your time…..
Fair point. But picking the bottom to buy is a hard thing to do. If the numbers stack up then it shoudnt matter. If my parents bought there home many years ago for $35,000. Do you think it matters now if they could have waited for another year and got it for $32,000. Its value today makes these figures redundant.
blogs wrote:elkam wrote:I love it when the figures used to support huge house price falls are all for properties in the $ 2 / 3 / 4 M bracket.
Even in the suburbs mentioned there are properties for more "normal" people. What has happened to those?I love it when property bulls are more than happy to use figures when they were indicating prices going up, but when it shows they are going down they dont want to know about them…..
if you are talking $400-$500k properties, they are being propped up by the grant. Once thats been removed whhooooo boy….
I love it when these for and against property investing post pop up over and over and over both on here and somersoft. The for posters are here for the right reason. The against really need to find something better to do with there spare time.
if you really like it that much. I would keep it to myself until after purchase.
hbbehrendorff wrote:http://www.news.com.au/business/money/story/0,28323,25288311-14327,00.html
AUSTRALIA is facing a homeless crisis with more than 200,000 tenants in rented accommodation forecast to face eviction by next year – 80,000 in NSW alone.
Research conducted for The Sunday Telegraph by Fujitsu Consulting shows that as many as 183,000 rental households across Australia could be in arrears by December, assuming unemployment rises to 7.5 per cent, with 68,000 in NSW.
But if unemployment rises to nine per cent next year, as many economists predict, the number of tenants facing eviction rises to 216,000 nationally, and 79,000 in NSW.
The actual figures may turn out to be significantly higher because research could only take into account those landlords with mortgages. It is not known how many more landlords there are who own their investment properties outright.
The rise in unemployment will lead to a flood of claims to Centrelink for rent assistance, but the state benefits are often not enough to meet the rent payments in full, leaving landlords with little choice but to evict the occupants.
Tenants are deemed to be in breach of contracts if they fall two weeks behind with rent. With many of Australia's 1.9 million landlords needing the rent to cover mortgage payments, few give the tenants much extra time to pay arrears and tenants can find themselves on the streets within weeks.
"Our research shows that landlords are being hit hard by the falling stock market and low returns on savings," said Martin North, executive general manager of Fujitsu Consulting.
"Therefore they need the rent to come in to cover their mortgage payments. If the rent stops, they need to act quickly, otherwise they fall behind with mortgage payments."
Shane Oliver, chief economist at AMP, says the findings represent a "social problem" and will get much worse before it gets better.
"In this tight rental market, landlords know they can get new tenants quickly, so they won't put up with tenants in arrears.
"Also, rents have been rising because demand for accommodation is so great. And that is placing more pressure on tenants."
Mr North says that Fujitsu's economic modelling shows that in economic downturns, unemployment tends to rise fastest among people who rent their homes.
"As unemployment rises, it is likely that the supply/demand situation in Australia will reverse, so there will be more properties than buyers – a classic sign of a property bubble," Mr North said.
Yes this is one possible outcome. Just as there are thousands more available showing all possible directions. I kind of start to zone out once i read " economists predict"
C2 wrote:Perpetrator,I'm with you on this. Too many investors appear to be forgetting to enjoy life's little pleasures that property investing can bring.
One of my hobbies is cars and especially those that appreciate not depreciate when structured or bought the right way.Your spot on. I just sold my last toy and made over $100,000 profit TAX FREE. You can buy the right car and make money on it. Its hard right now just like property but just remember. Next time people start making capital gains on property. Watch classic cars climb in value also. I will be involved again next time round also.
PS. went for a spin on my ducati 916 today. Loved it.
If people live only for investing and live a poor lifestyle to fund it when they could still enjoy some of the finer things. Well they have completely missed the point of wealth creation in my view. You are dead a long time people.
To me rich people is a very loose term. Rich in what,wages,assets, equity etc. I believe many that should be considered rich are being forced to sell due to living outside there means during good times and having little or no buffer. They are anything but rich. I also see many true rich people taking advantage of these times by selling off underperforming assets and preparing to buy better options. The above could both be described as rich but both are very different. then there are the not so rich preparing to take advantage of the deals ahead. they will earn there rich wings in years to come.
hbbehrendorff wrote:David Rockefeller's "NWO" as he and his minions like to phrase it needed something other then the general "Witches, Gypsies, Commies, Boggy man Terrorist" Scape Goat to get the people to back there agenda, So they gathered scientists and can up with Environmentalism and the "humans are bad" concept where everyone pays a world tax to save the plannet against the main ingredient to Photosynthesis…Then comes world government which is very much needed to save us all before we die from c02
Then once that is in place the 1 child policy's and mass Eugenics programs that exist in China and other african countries will start, Man made epidemics will be released to massivley scale back population to 500 million aparently, Leaving a fedulistic world government where 1% live in a resource and technology rich narvada and the rest are microchiped work slaves.
They even release constant soft core new's articles to subconciously get people used to the idea, Even though they are told a false story… like this one
http://www.news.com.au/story/0,27574,25114359-5009760,00.html
http://www.prisonplanet.com/articles/april2006/030406massculling.htm
http://www.abc.net.au/pm/content/2008/s2508641.htm
http://www.theage.com.au/national/population-explosion-heralds-disaster-20090305-8q3c.html
This sounds like a really good idea. When will this start. Lets get things moving.
I currently have my IP locked in at 7.25 % for another 3 years. So glad i followed the gloomers advice on that one. My PPOR is variable. If i can get a 3 year rate below 5% i will probably grab it as that will see my PPOR loan paid off even if the wife stops working due to kids in the near future. It might go lower but the balance is getting low now so has less of an effect. Wow it feels good having a PPOR mortgage of under 100 a week.
I am also hoping to see the 7 or 10 year rates hit 6%. This opens up a lot of potential positively geared properties for me. Yes i know you can get rates a lot lower and therefore have better cashflow. But the safety of having a positvely geared property fixed for over 7 years during these times would be a nice feeling.
