[gronk007Member@gronk007Join Date: 2005Post Count: 54]

March 26, 2012 - 4:04 pm

my two cents worth would be to hang on to the IP for as long as possible…

[gronk007Member@gronk007Join Date: 2005Post Count: 54]

June 13, 2011 - 9:56 am

http://www.domain.com.au/Property/For-Sale/House/NSW/Kooringal/?adid=2008956794

Thought I would give this topic a bit of a bump…for those who are interested in Wagga (Kooringal – just south of Wagga)

Thoughts?

[gronk007Member@gronk007Join Date: 2005Post Count: 54]

April 17, 2011 - 3:53 am

Hi cuteyoungchic,

these are all the people who fervently believe that the sky is falling when it comes to property – whether it be property they don't own, or property they do. People have been shouting out the decline of property as an asset class for a very long time now, and good property will always remain to be good property.

I'm not spruiking property at the moment, but I'm not sitting here wondering how I'm going to sleep at night

[gronk007Member@gronk007Join Date: 2005Post Count: 54]

April 17, 2011 - 3:47 am

AIF QLD wrote:

Hi all,

As we are all a community hear, I thought i would share some of our experiences we have recently had with a couple of finance groups that you should all be very wary of and make a list of it to keep everyone informed.

• Firstly a group going by the name of Columbus Capital, our group has had all sorts of dramas with these guys trying to force clients into a corner to settle and then upping the rates into default rates for not completing…
  
• Secondly a group going by the name of Viking Capital – Chris Jarvis & Gary Simonite gave a client an indicative offer for one amount on a project in QLD with a fee to be paid and then came back with an offer that was half the original amount and the interest rate went up 5%. The fee also was non refundable, so they get people in with an indicative offer that looks good, pay your money and then don't deliver on what is promised.
  

Extreme care needs to be taken when dealing with these groups. They are a very slick outfits and lucky for us our clients were able to get out before anything else happened.

 
Your not part of the AIF Mob who used to finance hardware with the Clear Telecoms Group?

[gronk007Member@gronk007Join Date: 2005Post Count: 54]

April 17, 2011 - 3:40 am

how about all the doom and gloomers offload all your property to the rest of us, go spend the proceeds on conspicuous consumption for a little while, then come back to the property market in 12-18 months time, and tell us all your tales of woe about how hard it is to crack the property market.

[gronk007Member@gronk007Join Date: 2005Post Count: 54]

February 26, 2011 - 8:19 am

invest in a time machine

[gronk007Member@gronk007Join Date: 2005Post Count: 54]

January 25, 2011 - 9:17 pm

Research and data out there will provide you with discounts or premiums to advertised price, even down to the suburb.

In non-auction market conditions, I've never put a bid in at the asking price.

[gronk007Member@gronk007Join Date: 2005Post Count: 54]

December 19, 2010 - 12:50 am

looks like Nigel's still on that plane watching movies….thanks gross…hard figures and not hyperbole is what is needed on posts of this nature…

[gronk007Member@gronk007Join Date: 2005Post Count: 54]

November 27, 2010 - 6:57 am

Bozena – what is your household income???

PPOR – $1600 fortnight on a mortgage of $508,000 – worth $600,000
IP 1 – $1100 a month on an I/O loan, rented out for $300/week – mortgage currently at $207,000 – worth $350,000

My profile with mortgages and repayment amounts are remarkably similar to yours – arguably worse than yours, and while I'm not saying I'm driving around in a Ferrari drinking Champagne every night, we're both feeling pretty good this early on; I've been in worse financial situations

I work full time and my wife is studying for her PhD, and therefore is restricted to working 15 hours a week over and above her PhD. We probably earn about $115,000 per year before tax. I utilise every tax deduction legally available to me…

The difference seems to be the state of our debt – our credit card balance is $1800

[gronk007Member@gronk007Join Date: 2005Post Count: 54]

November 13, 2010 - 4:23 am

Hi Den,

Thanks for the thanks!

Credit to Ryan for starting the topic…I just added a few specific ideas….some employers "hate" doing the PAYG variation, but I tell them they don't really have a choice

As for everything else, it's entirely in every one's control.

Thanks again…I wish everyone else a bunch of good luck, and happy hunting…looking for my next place as we speak….only just settled the last place 10 weeks ago, and I'm impatient as all hell at the moment!!

[gronk007Member@gronk007Join Date: 2005Post Count: 54]

November 5, 2010 - 8:36 pm

I have a real thirst for Ballarat in the next 12 months – just bought a place in Melbourne 8 weeks ago, so I need to cool my spurs for a little bit

If you're looking at Ballarat potentially, keep as all in the loop – hopefully you like what you see…I've been looking at about 25-30 properties around Ballarat and surrounds, advertised for around the $190,000 to $225,000, and watching them sell/not sell, almost half have sold for less than $200,000, which is where I want my next mortage to be as well…

[gronk007Member@gronk007Join Date: 2005Post Count: 54]

November 4, 2010 - 10:28 pm

Never take a loan out on a car. Best tip ever. Public transport for $50/week max (in Victoria anyway)….

[gronk007Member@gronk007Join Date: 2005Post Count: 54]

November 2, 2010 - 10:37 am

JacM, I have heard you need at least $100-$120K in an SMSF for scale purposes…a couple of reasons:

1. Ongoing and upfront costs as a % would be prohibitive, if you had say, $50K in your SMSF. The setting up of the best structures, and costs associated with ensuring compliance with the ATO can run into the thousands every year.

2. SMSFs require 30% and above for a deposit to purchase properties on by using their SMSF. If you had $75K in an SMSF and you could only purchase an investment worth $225K (approx) plus buying costs.

[gronk007Member@gronk007Join Date: 2005Post Count: 54]

November 2, 2010 - 9:59 am

I don't normally engage in bank bashing, so let me qualify this post with 2 statements:

1. I own CBA shares – (gift for me when I was younger)
2. I don't have a mortgage with CBA (anymore)

After announcing their $5.6bn profit, hiding behind "increased funding costs" is wearing a bit thin….I'm glad I don't have a mortgage with them anymore.

These guys are filth. I have friends who are CBA employees, and despite the mega profits of over $30bn the last decade, they all got a paltry $800 pay rise for the YEAR, this year.

The money's going somewhere; yes, some are going to dividends, but not all of it, and differential funding costs are back to PRE-gfc times.

Aside from that, I'm sick of Wayne Swan's indignation for the 45th time. Do something about, or shut up.

If you've got a mortgage with CBA, and you've been with them for longer than 3 years, switch.

If you have an interest bearing account with the CBA, ask when you're going to get your .45% on your savings, and if you don't get it, switch.

If you have a non-interest bearing account with the CBA, move to a credit union, fast.

There's talk on the posts about interest rates dropping soon (ish). There will not be any interest rate drops any time soon…..

There are people out there with real financial hardship, and I'm talking below the bread line. Very few people on these forums can say they are below the bread line, let alone the "working poor"..I don't normally engage in bank bashing, so let me qualify this post with 2 statements:

[gronk007Member@gronk007Join Date: 2005Post Count: 54]

November 1, 2010 - 11:17 am

With the Melbourne Cup on tomorrow, I don't think there will be any chance on an adverse announcement.

Conflicting data, especially over the last 5 days will put a neutral stance on it.

Good chance December though….they go on holidays January, unless there's some terrible data locally and/or globally around Xmas time.

[gronk007Member@gronk007Join Date: 2005Post Count: 54]

November 1, 2010 - 3:17 am

Those BC fees seems prohibitively high, but it depends where you're looking..is there an elevator(s)? If it's city it's a good chance, but they still seem very very high.

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October 27, 2010 - 11:01 am

Sonysal…who's the Property Manager? That is a disgrace.

Landlord Insurance doesn't cover non-payment of rent does it? Just Accidental and Malicious damage???

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October 22, 2010 - 9:54 pm

Box Hill and Mitcham are well and truly gone if you're looking for bargains….Box Hill has been ballistic, even if you're looking at Box Hill North…

[gronk007Member@gronk007Join Date: 2005Post Count: 54]

October 22, 2010 - 9:46 pm

Inflation is 3.1% at the moment….not the 6-7% inflation that was previously quoted.

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October 21, 2010 - 11:44 am

believe it or not, the rent has been paid….an inspection has been booked by the PM for a week…..

Fingers crossed