wow mel! you are either really rich or really poor- I can’t tell which! :o))

kay henry

Oops! I just realised what i was reading was the RB’s submission to the Inquiry- not the PC’s final report ;O) WEll, the RB even writes in plain english!

kay henry []

Muppy,

Thanks for bringing our attention to the Productivity Commission’s report. I find their stuff eminently readable (very plain English), and balanced enough to be credible.

I remember when I bought my first IP and missed out on the FHOG- which was, I think, at 14k at that time. Had I know then what I know now… well, I might have done…[Read more]

Am I right in thinking that ifr you havew a fixed rate, you can’t make extra repayments on your mortgage? If so, that would be the deciding point for me. The inflexibility of not being able to pay the place off quicker is a bit of a dud deal.

Can anyone correct me on this? (Go on- you know you want to!)

kay henry []

Noddies,

I liked your post :o) And let’s face it- who wouldn’t want pozzy geared instead of neggy geared? I guess most of us are into this to be able to retire some day, instead of never. And making money is better than losing money.

Having said that, positive gearing is not always possible. You have to buy perhaps cheaper than the property is…[Read more]

Teacher,

I know this might go against the current wisdom of not buying right now, but I wouldn’t give property a complete miss now. The money you have might be used to purchase a small property, and your gains *could* be much greater than 8.75%.

I bought a property two months ago, just had a valuation done on it and my bank manager told me…[Read more]

Mel said:

“…but recently we’ve sold a couple of dogs to alleviate some of our cash poor problem.”

Hope they were some kind of european designer dogs- I can’t imagine your average hound would raise much for a deposit :o)

Mel- you’ve said you are asset rich and cash poor. I know banks loan on seriveability and don’t want people to be too “rent…[Read more]

Thanks Lucky- i checked it out ;O)

I tend to find that the apartments in the cheapest range of the OTP apartments usually have some problems with them. I checked out an apartment in glebe for 270k. The range was 270k-800k or something. The 270k one was a studio of about 38sq, no parking etc.

Shaun, I found a lot of the apartments on that site to…[Read more]

shaun, either there’s something wrong with my server or that url is not working. Is it me??

kay henry

dglees,

How are you finding the wagga RE market now? What’s the bottom end price these days?

kay henry

shaun,

May I ask how much the 2 and 3 bed units 10-15 km’s around brisbane were selling for at the seminar? I’m just wondering where the market’s up to for new apartments.

kay henry

C2 []

I don’t know what percentage might care about pensioners. To me, it seems an extraordinary thing to think people would think of their own wealth if it is at the expense of others- I just don’t see that as necessary.

I once wondered how many people would hand back a wallet with money in it (and ID). It could even be a great deal of money-…[Read more]

Thanks wannabe :o) I’ve even thought about getting out of property investing because it becomes more difficult sometimes to do what feels right, and not to merely “justify” what I’m doing. But it does have its own rewards. I’ve pretty much fallen for every piece of brick and mortar I’ve purchased. I think if I continue to reflect on what I’m…[Read more]

Ducky,

STEP 1: Approach vendors, criticise their properties until they sell it to you for almost nothing.

STEP 2: Approach tenants, praise your new property and tell them what a wonderful place it would be to rent.

Voila! On the one hand, the property is so tragic that the vendor was lucky you took it off his hands… the tenant, on the other…[Read more]

Qld’s 007,

Thankyou for picking up any factual errors I have made- it’s kind of you to do so )

Whilst some organisations might loan with no deposit, I am more interested in people not getting in too far over their heads and losing their homes. Others made comments regarding saving for a deposit, as did I.

I don’t think yours and my information…[Read more]

Ksafik,

Buying your own first place is exciting! Buuut…

I agree with Dino, you need to save money first. You can use the FHOG if it’s a home for you and not an investment property. But if you haven’t saved a deposit, it may be that you get into trouble down the track. Why do you want to borrow 100% or more? Traditional lenders will require a…[Read more]

C2 said:

Kay Henry,
I think you’ve got it in a nut shell with your comment about what your child would learn if they heard about the 30K profit, but in reality how many investors out there would really care about the pensioner. Then again should it matter whether it’s a pensioner, bankruptee or developer? Don’t they all deserve a fair…[Read more]

Chris :o)

Another quote from that book- “Do unto others as you’d have them do unto you” or whatever.

Funny that I’m an atheist, but that RE investment makes me think of these things.

kay henry

Shaun,

It’s the way things must be if people want to operate in that way. I am happy to buy at correct value and sell at correct value. Consistency in business is another way of operating.

kay henry

Dear all,

Thanks so much for your information :o) I thought it seemed too good to be true. I really appreciate your replies.

Cheers,

kay henry