Wanted to quickly point out another error in the newsletter… if someone had $80,000 for a deposit and wanted to borrow 80%, they’d be going for a loan of $320,000, not $400,000 as in the article. Point made though.
The last time I showed a property, I didn’t just have paint on my clothes, I had ceiling-white all through my hair That wasn’t for a tenant but a valuer.
In Qld the requirement for a license before renovating is dependant on the cost of the renovation.
eg. If you keep the cost under a certain amount, you don’t need to get a license for it. Sorry I can’t remember what the threshold is.
Originally posted by foundation:
Originally posted by stephen051:
More people = higher demand = higher price = high value. This is why housing in sydney has gone up much faster than elsewere in australia over the past 15 years.
More people = much faster reproducing of MORE PEOPLE. Demand in sydney is therefore insane and therefore housing prices…[Read more]
Um, personally I prefer to be in debt up to my eyeballs (seriously). I prefer to borrow 95% interest only on everything.
But then, I’m young and have plenty of time to start over if things go bad.
Don’t fall for the ‘reduced’ trick. Tell them you’ll take it for $139k ‘reduced’ from 159 Even then I wouldn’t spend more than about 8k restoring it (and 8k can go very quickly when you’re talking kitchen/bathroom).
Without seeing the place, it seems to me you’d have to get it for a real bargain in order to make any money on it in the…[Read more]
‘saturation point’? sounds like a recipe for CG to me.
the regional areas will never outperform cities in the long term… if they did then i don’t think they would be the regional areas anymore… they would become the new cities and the cities would become the new regional areas, if you know what i mean.
i bought my first property sight-unseen, and when i did inspect it, it was better than i had imagined but i realise i was lucky that time and it could have been a lot worse.
another property which i did not end up buying looked great in the photos and description, but this time i did inspect first and when i got there i discovered that it backed…[Read more]
It’s funny how you can read all about other people’s mistakes a thousand times, but you never really learn to avoid them fully until you make them yourself anyway
A couple of years ago after landing my first full-time, high-pay job (high compared to Austudy), I went out and got a loan for a beautiful (2nd hand) car for $23000… At the time I…[Read more]
I think it’s still possible that they will… for example even if they’re off by just a year and half and prices are flat until 2013 sometime, that’s 18 months left over for prices to shoot up and double by 2015
[quoteI actually feel some guilt and shame about the amount of money I made out of it. It was thoroughly undeserved.
If you feel guilty about making money from it, then why didn’t you sell it for the same price you bought it for and not make that money?
I suggest reading at least 38 more books… borrow them for free from the library. It took me 12 months but I read 46 books on real estate/investing and a few on success/business/negotiating and I’m so glad I did
If you do a search on this forum, you’ll find a couple of posts with huge lists of books to read along with forumite’s reviews and…[Read more]
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