Kay, I like the two kids who say

Kid 1 ‘We’re so poor we owe the bank $200,000’
Kid 2 ‘We’re so rich we owe the bank $2,000,000’

I am reasonably highly geared, currently at 70%, but no spare cash. So that’s why I’m looking to refinance up to 80% and have the extra funds sitting in an LOC. To have ‘available’ cash increase, but for the meantime…[Read more]

Yep, sure do LuckyPhil.

My Dad is doing some work in the AFP’s property office at the moment – that’s where all the lost/stolen property ends up. He’s found some amazing stuff there.

He said a couple of days ago that all the rocks and other stuff (flying implements and things) that they collected to do with that inquiry were still in the office…[Read more]

fullout, that’s where you have to educate your vendor (or buyer if you are the one selling the option) of the benefits. You’re right, a lot of people don’t understand it, and it won’t benefit everybody.

It’s a matter of finding something that is a win/win for both parties. For example, you see a property that has a tenant, and has been for sale…[Read more]

Bring on the destruction of negative gearing, but please wait until I’ve got all my loans refinanced. Then cash will be king!

Cheers
Mel

Hi Kay

Selling four legged dogs[]. Nope, would never do that. In fact, I’m trying to have enough money to buy a farm so I can live there with lots and lots of dogs[]

We have not come across any ‘serviceability’ problems as yet. Our main problem with the banks has been we have hit their ‘lending limit’ ie the $1 Mil mark or somewhere…[Read more]

How rude LuckyPhil, I happen to like my life story (well, some of it, but it’s mine!), and Westan did ask me about it.

Hey, it wasn’t my life story anyway – just my investing story. If you want my life story, I could start it off for you…..

Born 25 Feb 75 (that’s a couple of months away, so you can start saving for my present now) in the…[Read more]

It’s funny that they ask you if you are carrying cash/travellers cheques, but I didn’t think they asked you about your credit cards/debit cards.

Couldn’t you just use one of them to spend/withdraw the money whilst here?

Cheers
Mel

Bill, I can’t believe you of all people have jumped in on this post. I rated you so much more highly than that[]. And I don’t care about your excuses that you may be related to LuckyPhil and have had some secret dealings with Shaun – it’s just not on!![] LOL

Hi Westan, apology accepted but not necessary (although LuckyPhil does look after me…[Read more]

Cameron, it is to my knowledge that the banks ‘guess’ what the variable rate is going to be over the next few years, and price their fixed rates accordingly. So there has been speculation for a lot of this year that rates are going to rise, and so they just acted on that – and other information they have, like their size of loans etc. etc.

As…[Read more]

Probably not Muppet. But the looming budget surplus right in an election year might mean that there are some tax cuts coming.[]

Cheers
Mel

I don’t know what’s wrong with me, but even when I find a page that has only single columns, the maximum number they have on the page is 7!!

Cheers
Mel

Easily that many. I looked back in to see what you had written.[]

LuckyPhil should pop in (or Shaun if he gets round to it) and tell us off for reading his message, and now that you’ve started replying, and I followed suit, there may be some other people post some kind words too![][]

Cheers
Mel

All you Canberrans that don’t read the Soap Box, we are having a get together at Olims Pub – now taken over by Mercure I think at 2pm on Saturday 22nd November.

Cheers
Mel

Me too! Me too! I noticed 8 people had read it already, and as I just click next post, I was bound to read it anyway, so now I’ll add to it.

Hi Phil, Hi Westan – Shaun, hurry up and read the post!

Cheers
Mel

Wayne, an example of a Put option could be:

My house is worth $400K. I offer a Put option contract to you at $390K in one year. I tell you that if I do not exercise, I will pay you $xK for your troubles.

I am unsure as to whether or not I want to sell it, and will make a decision at the time. You would like to buy, and don’t believe the price…[Read more]

Hey polar, don’t scare off Polar with a ‘P’. He might be a long lost relative.

Hi Polar Sorry, no I haven’t. Are they graduates from the Reno Kings? Where did you see them?

Cheers
Mel

Hi Simon

Don’t know if there is anything that is QLD specific, but try realestate.com.au, and individual agencies websites.

Locate an area, and search google – that should come up with agents in the area, and has been known to give good info on the streets or even houses that you are looking at as well.

Cheers
Mel

No, not really creach. Unless you have a cost blowout and there is no profit. I think you have to make sure that the Vendor does not lose out as well.

Other than that, if you have a good relationship with them, and can make them some money as well, why not?

Cheers
Mel

I think Steve Dover (one of John Burley’s Aust graduates) teaches something like that. Surely you would have an enforceably contract with the vendor if they agreed.

Either that, or you charge them a fee for doing the reno, get your money back at settlement, and half of the extra sale price achieved.

Would certainly save on your borrowing costs,…[Read more]

Nathan, just quickly.

A serviced apartment is similar to a hotel in that all furniture, linen, crockery, cutlery (I think the crockery bit) is supplied (by you), for a higher rental.

Pooled income is where there are many such units/apartments, and a management company who looks after them. Say there are 10. If only 6 are rented for the week,…[Read more]