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

October 21, 2010 - 11:42 am

I don't even know how to begin to respond to that post.

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

October 19, 2010 - 11:04 am

It's a pretty good area I'm in at the moment…I have to wait the proper period and all that as well…..I don't expect too many dramas with filling it, but thanks for the additional websites!

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

October 19, 2010 - 9:36 am

2% of sale price. Not a cent more.

Sold on first inspection day, got more than I wanted.

Brilliant.

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

October 19, 2010 - 9:29 am

Looks like the place is empty…there's a water canal behind the backyard that let me have a quick peek…despite claims to the contrary that one of them instead of 2 of them, are still living there. No-ones seen a car there for a while now.

To my knowledge, there is no landline there….we didn't have one when we lived there…

Shame…..every month prior to this they'd paid early…but according to the PM they broke up with each other last week…

Care factor? Zero, just collect my rent!!!! Letter of breach being sent out in 7 days, VCAT application 3 days later…

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

October 19, 2010 - 9:13 am

Hi Simon87,

Liberty Meat Exports

47-49 Chifley Dr, Preston VIC 3072 (03) 9484 0605

Gets busy on weekends…went there on Saturday

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

October 18, 2010 - 5:09 am

As far as doing it myself, I'm still a newbie at this, and working 60 hours a week in my "real" job is taking alot of time.

It's the things I don't know about yet that will bite me in the proverbial……

I want to go to the site myself, and look around, but I've been told it's technically "trespassing", and if caught, will only prolong the proceedings we are about to embark upon.

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

October 17, 2010 - 8:42 am

Got a live situation at the moment, I notice we didn't receive rent this month (was meant to be paid on the 12th, and in our nominated account on the 14th, or the disbursements happen on the 14th anyway)…made contact with our PM on Friday, as we set up in our clause that we are to be notified within 72 hours if the tenant has not paid rent for the month.

The first conversation between us and the PM said that the tenant has made payment for the month, but they've changed the disbursements to landlords to the 20th of the month – had we been given prior knowledge? No. Does this take into account that the I/O payment on my loan comes out on the 18th of every month? No.

Get a second call from PM an hour later saying that they'd made a mistake, they were thinking of another tenant on the same street, and ours hadn't paid yet, thereby making them 3 days late. Phone calls, SMSs and usual forms of communication have gone unanswered so far.

What concerns me is that if we were waiting until the 20th for them to do disbursements, the PM wouldn't have realised until the tenant was 8 days overdue on rental payments.

Am I over-reacting? Am I nit-picking?

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

October 17, 2010 - 8:25 am

if you don't want to spend money, leave your cards on the bedside table….should have thought of that at the beginning of the weekend!

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

October 15, 2010 - 1:39 am

Come on everyone!!! We must have at least one specific money saving tip we have to share!!!!

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

October 10, 2010 - 4:24 am

Um yeah…lets get this straight…According to Residex:

Capital growth in the last quarter for Sydney homes: 2.58%
Capital growth in the last 12months for Sydney homes: 18.81%

Capital growth in the last quarter for Sydney Units: 3.24%
Capital growth in the last 12 months for Sydney Units: 11.94%

Capital growth in the last quarter for Melbourne homes: 1.92%
Capital growth in the last 12 months for Melbourne homes: 18.81%

Capital growth in the last quarter for Melbourne units: 2.46%
Capital growth in the last 12 months for Melbourne units: 16.30%

Growth in QLD units last quarter – 0%, Growth in QLD homes last quarter – 0%
Growth in SA units last quarter – -0.48%, Growth in SA homes last quarter – 0.68%
Growth in WA units last quarter – 1.39%, Growth in WA homes last quarter – 1.40%
Growth in NT units last quarter – 4%, Growth in NT homes last quarter – 0.04%
Growth in TAS units last quarter – -0.25%, Growth in TAS homes last quarter – 2.30%

And of course there a sub-markets after sub-markets within those figures….

Unemployment is not an issue – and if you showed any country those growth figures across the board post-GFC, they would take them in a heartbeat.

It's interesting reading the posts from 12-15 months ago – IMHO a quality property in a quality area will always win out. Some of those figures above beat the current inflation figures in only one quarter of an entire year…people who already own property have no cause to whinge about the current state of affairs…housing affordability for non-owners is probably a bigger issue.

If this is bad, or soft at best, I'd love to see good market conditions. If you haven't been overseas in the last 12-18 months, or have friends and family overseas…we don't fully appreciate just how lucky we are that we weren't hit by the GFC worse than we are – I'm not offering any reasons here why we avoided most of the pain, we just did.

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

October 9, 2010 - 11:16 pm

My last post was pretty general in nature, it was more of a train of thought, than anything specific…

1. Put every gold coin you have in a jar, and put that into a savings account at the end of the month. I'd be shocked if you didn't have $50-$100/mth, simply from the poo change from groceries, general shopping etc etc. If you really want to , put the silver coins in there as well. You'll be shocked.

2. If you do get a payrise for any reason – put the payrise away into savings, don't touch it!

3. When it comes to food – never buy meat and poultry from supermarkets like safeway/coles/iga. Every main city in Australia has a meat and poultry wholesaler where scotch, rumps and mince are 70% cheaper than what you get get in the supermarkets. 5kgs of Scotch fillet for $8/kg? Cut it up, freeze it, $300 of meat, poultry, and some other party type foods (chicken, dim sims etc) will last 2-3 months. If you're in Melbourne, message me, I'll let you know where you can go for this.

4.If you're someone who likes going out, I'm not asking you to change your lifestyle, that's your choice – but if you like the bar and restaurant scene buy an Entertainment Book – for anywhere between $50-65 – (the money goes to charities), there's buy one main, get one main free, or 25% of total bill….50% off rack rates at hotels, 50% off car rentals for holidays and short stays…even down to the small bits, like cheaper Hoyts tickets and buy one get one free at Nandos, KFC and other healthy alternatives You will make your money back from this book purchase after 2-3 uses….

5. If you know your income is relatively stable, or you can predict what your income and PAYG tax will be at the end of the financial year, then speak to your company's accountant and the ATO and set up a PAYG variation payment. If you think you'll get a $2000 refund at the end of the year, then why give the ATO that money for them to earn interest on? Have that $2000 paid back into your salary over 26 fortnight throughout the year…that's an extra $76 a fortnight, or roughly $160 per month right there. Most people take the "lump sum" and blow it on "conspicuous consumption"

This was just a start, hope it helps    I'm nowehere near the doyen of savings, it took me a while – but good habits started early will pay itself off many times over.

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

October 9, 2010 - 10:58 pm

I guess the old adage of "it's not what you earn, it's what you save", being the old chestnut.

For example, the last financial year, my wife went back to study – her income dropped 60%.

I changed jobs, earned 30% less than the average of what I earned the previous 4 years.

And somehow, we still managed to get to Thailand for an 8 day holiday, buy a 3 bedroom house in Heathmont for $537,500 (with help from the equity in the 2 bedroom unit we already owned), and turned the unit into an IP which has holding costs of $60/month.

Goes to show you how little I/we were saving the previous couple of years, even though we thought we were saving.

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

October 9, 2010 - 4:27 am

I think the distinction everyone has to make, is the break fees are enormous in the early years of a mortgage – it doesn't matter how much you've drawn down a mortgage, with RHG, it's a % of the original loan amount, and how long you've had the loan for.

My wife had a RAMS>Westpac>RHG Home Loan and was paying 8.19% on a variable in 2008 (that's right, 2008) before I spoke with RHG (and no it wasn't a no-doc, lo-doc). At one stage the break fee on a $220K loan was $8,000 – obviously prohibitive.

I tried again 14 months later, and the break fee was $1300. We re-financed that loan to 6.49% to a Top Tier bank.

People are leaving RHG in droves.

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

October 8, 2010 - 8:55 pm

Hi All,

DWolfe – completely agree with you re: Wantirna – there was alot of stock on the market in March-June, and it was getting silly – there's no train line, and if Knox wasn't where it was…..you can make your own conclusions.

I like beating the Heathmont/Ringwood drum; yes it has gone up in value (16-22% in capital growth on units AND houses in the last 12 months, depending if you read YIP, RPData etc). You can still get a unit as an IP in Ringwood/Heathmont. FYI I have a PPOR and an IP in Heathmont….

I also like Ballarat – looking there at the moment myself, still some good returns to be had there, but if you're NZ you should come over and have a look

I can't comment too much on the West, but I've read there's a massive shift of people heading towards Melton, where a median property value is still $240,000…

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

September 26, 2010 - 11:59 am

Did this ever sell? This thread was 6 months ago, sorry I missed it at the time…

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

September 26, 2010 - 11:42 am

I know this became a liverpool/wiley park kind of posting, but for those who know regional victoria, or those who want to know more…I'm studying Ballarat the next 3-6 months…most of the forums discussing Ballarat are dated 07/08/09 early 2010 and not much else….would be interested in other's opinions..

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

September 26, 2010 - 11:23 am

I'm assuming it's the selling comms with the first sentence being "I'm looking at selling an IP I own"…

I recently sold a 2 br townhouse in Artarmon, they charged 2.0% of sale price.

This included everything. And by everything, I mean everything.

I don't know any real estate agent that will go lower than 1.6% of sale price, unless we're talking about a property value of $1m+…

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

July 21, 2006 - 9:30 am

Thanks for everyone’s help – things are heaps clearer now

Anymore thoughts, especially outside the square are appreciated…

Adrian

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

July 17, 2006 - 1:06 pm

Hi,

I think my post says high single digit, low double digit growth….

There’s a big difference between simply putting the money into places like ING or BankWest, I have no interest in those kind of accounts for this kind of money..

I intend on re-investing the distributions of the Imputation Fund back into the fund…The advantage of the Imputation Fund is that it already provides a tax effective income that can be re-invested..

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

February 4, 2006 - 11:51 pm

Just Learning…

There’s no doubt about the long term capital appreciation in Metro NSW, but there’s always sub sectors within a market, which gets back to my original post… 1b/r on the lower north shore, or a sturdy 2 b/r in the inner western suburbs??

Probably time for me to buy some market data, or keep a very close eye on those areas I was referring to.

My broker says I’m ina position to do it, I wondering if there’s anything else stopping from investing $300,000 in such an apartment – I can only think of my concern about the potential lack of capital appreciation the next 4-5 years in the previously mentioned areas…

Adrian