[markdangerousMember@markdangerousJoin Date: 2005Post Count: 13]

February 10, 2006 - 11:50 am

Originally posted by hb:

markdangerous

you have undeniably hit a nerve with Brisbane 04

what you misapprehend, is that the whole point of this forum is stimulate prosperity, no matter what the sacrifice.

Go Brisbane 04, trample humanity, impede human rights, and proliferate in capitalism at the disbursement of mankind

in simple terms
04…your a wit
mark…your wasting your time

Thanks HB – sort of. I posted this because i wanted to make people think. I knew some wouldn’t like it. Each to their own.
I don’t believe I am wasting my time. I think there are many thinking people who will take my point…but they won’t have any reason to post a reply because the issue isn’t personal like it is for Brisbane 04.
Brisbane 04 – for the record, I’m all for supplying people with housing and I respect that different people have different value judgements. Personally, its is very important to me that what i do is principled and the ethics of my actions are well thought out. My post is solely for the purpose of supplying others like me food for thought. And i’m not for a minute suggesting you aren’t and you don’t.

[markdangerousMember@markdangerousJoin Date: 2005Post Count: 13]

November 6, 2005 - 4:43 pm

Originally posted by pgrim:

Shanghi – they have a major expansion program that began in 2000 to last 20 years. Seems like major growth and another area im interested in, there is no crime and like Japan, the tennents seem to look after their homes rather well.

No crime! HAHAHAHAHA hahaha thats a good one. HAHAHA… I hope you were joking. Listen, I dont know where you were getting your information but thats about 30 years out of date. During Mao’s time people were to hungry and scared to commit crime…now its rife.
What ever the upside of doing business with China is, just remember, it is one of the dodgiest, corrupt, inefficient and backwards places to do business. Generally speaking that is. Certain pockets of capitalism are highly efficient like for instance export and manufacturing…but outside of that, be prepared for roadblocks, stumbling blocks, head aches, frustrations etc etc…and anyone who tells you otherwise is playing you for a sucker.

I’m not an expert in this particular area i’m about expound on but heres a fact and then a question. China is absolutely awash with cash. 20 years of selling cheap stuff to western countries has provided huge piles of capital. If thats the case why are real estate companies trying to lure in foreigners. If the investments are that good surely the chinese would be snapping them up?

One more key point about Chinese real estate. Construction methods over there have historically be so crude that buildings need to be torn down after 30 years. This time frame may be getting longer with the last 5-10 years worth of construction but i dont think anyone really knows how long that brand spanking new complex will actually last.

Bare in mind. In China, you’ll be swimming with sharks.

[markdangerousMember@markdangerousJoin Date: 2005Post Count: 13]

November 6, 2005 - 4:16 pm

why would you buy first and ask questions later?

[markdangerousMember@markdangerousJoin Date: 2005Post Count: 13]

September 28, 2005 - 11:31 pm

And if you’re the kind of person which likes to get their own back on the credit card company you could leave the money on the card for a few months.
A friend did this a few years ago and after a couple of months the CC company was calling him every week asking him to spend the money. Evidently CC companies hate PAYING interest…

[markdangerousMember@markdangerousJoin Date: 2005Post Count: 13]

September 21, 2005 - 8:34 pm

Originally posted by quiggles:

Originally posted by markdangerous:

Quiggles,
Whats wrong with asking about people on these forums? Especially people who overtly or subtly promote their services here?
Defamation? I dont see how that is a problem. Please explain.

It’s pretty simple. Suppose you were offering a service, let’s say selling computers and someone on a message board asked for people’s opinion of you. Suppose then that I bagged you out (whether or not justified).

EVEN IF JUSTIFIED, it can still be defamatory, although not slanderous. You would be in a position of suffering loss of reputation, and of income and could sue both me and the operators of the board that published the defamation. This is in no-one’s interest.

It also means that in answering the question, no-one with a negative view should be stupid enough to say so, thereby skewing the answers.

Far better that people ask and talk in terms of what they expected and what happened. In terms of the US market, I’ve bought over there and not everything was positive – however, I KNOW that this was due to me. Someone else, having had expectations that may not have been clearly , may hold Westan to blame for things which simply aren’t in his purview or which aren’t part of the service he offers.

What I’m saying is that there are better and more suitable questions to ask. My email above suggested some of these.

Quiggles i agree with you for the most part, especially about asking better questions, however i always thought that the truth is an absolute defense against charges of demanation. If someone responded with facts, i dont see a problem with that either ethically or legally. But what would i know.

On another note: I’d be interested to hear about your “lessons learned” in your USA investment if you care to share it with the forum???

Mark

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September 19, 2005 - 6:25 pm

Are there any of these jobbies in Sydney?

[markdangerousMember@markdangerousJoin Date: 2005Post Count: 13]

September 19, 2005 - 6:22 pm

Originally posted by stephen051:

Am i not legally allowed to lodge out the rest of the place and actully recieve rent from them during the 6 months in which i plan to live there because of the conditions of the use of the grant?
What i mean is say if it was a 3 bedroom place then charge rent for people living in other 2 rooms

plz clarify!

stephen

Hehe. Stephen, go back over what Simon said here
“Of course your room mates are just contributing to the expenses of the place – not actually paying you rent which you will need to declare etc”
Read that over and over until get what he meant. Think about it from a tax perspective and bare in mind that “rental” income is taxable…

…gedit?

[markdangerousMember@markdangerousJoin Date: 2005Post Count: 13]

September 19, 2005 - 6:14 pm

Originally posted by Shelley D.:

We have 3 properties – one we live in valued this year at $440K with a mortgage of $293,000.00. The other two are IP. We bought the first one in April this year for $185,000.00. They had a price tag on it originally for $199,000.00. We have a mortgage on this one for $200,000.00 which we borrowed for the purchase, stamp duty and monies to fix up. The other one was $235,000.00. We have a mortgage on that one for $187,400.00 (we had to borrow the remaining $60K) for that property from father). We have paid him interest up front for 12 months at 9%. We would like to refinance to pay him this $60K back next year and also keep buying more properties. We have never missed a mortgage payment on all three properties but the bank NAB wouldn’t lend us the whole amount for the 2nd IP and no more for any other properties at this stage.

MY PROBLEM IS is keep reading reading and reading about all of these people who just keep on buying properties – where are they getting all of this money from?????? Is is just a situation that we are waiting for all three properties to go up in value until we can keep moving forward? I guess my concern with this is that everything else has gone up by then too.

Aren’t mortgage brokers the ones who help overcome this limitation? I’m a novice so don’t listen to anything i say but, i was listening to Bill Zheng from Investor Direct discussing how he helps his clients get around your problem by using multiple lenders…
But like i said, i dont know much about anything.

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September 19, 2005 - 3:59 pm

Thats interesting reading about the ATO audits. I would be interested to learn more about this. Are there any posts in these forums about peoples experiences of ATO audits? Would anyone care to pen their experiences?

[markdangerousMember@markdangerousJoin Date: 2005Post Count: 13]

September 16, 2005 - 10:01 pm

Quiggles,
Whats wrong with asking about people on these forums? Especially people who overtly or subtly promote their services here?
Defamation? I dont see how that is a problem. Please explain.

[markdangerousMember@markdangerousJoin Date: 2005Post Count: 13]

September 16, 2005 - 3:36 pm

With all due respect to Minimogul I reckon using a cash advance on a credit card is a spectacularly bad idea. Even more so since the original poster already mentioned they have debt.
Having consumer debt is often a symptom of out of control personal finances and its my belief that the first step to financial success is getting your consumer spending and consumer debt under control.

Just looking at the numbers, $10000 credit card balance at 15% is going to be $1500pa. So lets say you were trying to pay that down in 12 months the repayments would be ~$1000pm. Anyone that can afford that kind of payment, wouldn’t have consumer debt in the first place, and wouldn’t have trouble getting personal loans from more reasonable sources such as a personal loan from a bank at say 10%.
So no. A credit card advance of $10000 to get started in investing is a bad idea.

My 2 cents. I know this post is old but this needed to be said.