Forum Replies Created
Let’s see – you have 800K cash; you need to borrow 850K (taking into account you are now unemployed) to complete the development. That’s 1.65m now that’s quite a project. What sort of development are you working on Steve?? [blink]
Originally posted by steve2:I’ve been working hard for the last 20 years and have managed to save $800,000 which I have in cash deposit.
Im sick of my job and have left and would like to concentrate full time on property investment/development which I have no experience of yet.
WOW….this is even better than the 80/20 percent theory that normally applies to such public domains. How old were you when you started your job Steve, according to your profile it must have been 15. Not bad, 40K per year!!! [biggrin] What sort of work were you in??? [blink]
Originally posted by jcls79:
My strategy is to ask my rental manager to rent out each room individually (making it cashflow positive [biggrin]) but the only suburbs that fits with my budget is nearby suburbs (Loganlea, Kingston, Woodridge, Bethania) which is not close to university (implying I may be renting out to people other than Uni which I am unsure whether there is a market for renting out each room individually??) Or should I focus on getting a 2 bedroom within Meadowbrook or Daisy Hill that fits with my budget?First point of consideration YOUR BUDGET, second point of consideration YOUR BUDGET, and final point….you guessed it!!!
From my understanding, students are generally the only ones who make use of share accommodation in which they rent by the room, therefore as your targetted market does not match your financial budget you will (as you indicated) need to modify your strategy. As Derek stated, the further from the uni the less likely your tenants will be students.
Buying a cheaper property (ie. 2 bedder) does not necessarily mean it will be +CF and it really depends on the area (in this case, as per that nominated which seems to be within your price range) and what the rentals are within it. I suggest a bit more research may be the order of the day.
Good luck,
Jo
Bette Midler, Robin Williams and Jerry Lewis. Lunch on a yacht sailing (not sure where) to talk to them about the serious sides of life for them and in general.
Question:
If you got handed a million dollars and were given 7 days to spend it all, but had to have nothing to show for it at the end of the week, how and what would you do with it???(yes I took the idea from the movie Brewsters Millions) [biggrin]
Yes Martine,
You’re pretty much on track, except that the gross amount will not necessarily be paid to you if you engage a PM in which case the agency will take out their management costs, GST and any repairs that you give them authority to conduct.
Gross rental yield is what the return is before you take out ALL associated costs including PM fees, BC fees, rates, insurance, land tax, repairs and so on. Nett threefore is the end result when all associated costs have been paid out, and it is what you are left with.
Do remember that although some costs are deducted by your PM (as stated above) it is always wise to keep money aside for when those other bills come in, as they surely will!!! [blush2]
Cheers,
Jo
Thanks Shawn (you’re too kind) [blush2]
Anyway, I look forward to seeing your mug up there with the rest of us “lovelies” soon then hey??? [winking]
Cheers,
Jo
Yes please explain “what different strategy”??? [blink]
Oh and exactly HOW MUCH research did you do; I mean you spent three days looking, hence apart from the quick calculations, what other source of information did you avail yourself of???
I buy shoes at a whim, I spend months researching the area/state in which I wish to acquire property in!!!
Cheers,
Jo
I agree with Terry, why would you bother if you know there is no CG; seems pretty pointless to me!!! [blush2]
Foundation,
You have presented some excellent sources of information/data, all of which has merit, however and please don’t take this the wrong way as I am just expressing my curiousity out aloud, but EXACTLY WHY it is so important to you to discredit the doubling (every 7-10 year) of property prices theory???
I am not concerned one way or another, and I am not challenging your beliefs, I guess as a psych I am more intrigued by your entralment of this topic. Is it in the interest of generating feedback for the purpose of debate, or is it to confirm/deny any doubts you yourself have???
Personally, you can start up “myth buster #233” and IMO still be no closer to a resolution one way or another. And really, at the end of the day, does it really matter??? [blush2]
Cheers,
Jo
Foundation,
No I am not going to “jump down (your) throat” so relax; but I would like to ask you here:
How do YOU (or anyone for that matter) really define “fair value”??? [blink]
Are you trying to “myth bust” or play a game of semantics??
Cheers,
Jo
Originally posted by superman:
Um, you will no doubt discount me a troll-supporter now, because I agree with Foundation’s posts. But I honestly don’t see a single personal jab in any of his replies, whilst you are flatly undermining his integrity! [blush2] I was taught that the best demonstration of maturity was to walk away from an unnecessary conflict, i.e. ignore the thread.On the contrary superman, I don’t discount you as any such thing, nor do I see a problm with you supporting Foundation’s points; he has made some exceptional comments which are both valid and worth taking into consideration. My only objection, and I beg to differ on your view re his “personal jabs” there have been several, especially when there has been an opposing view to his own put forward. As for undermining his integrity, please note:
Integrity comprises the personal inner sense of “wholeness” deriving from honesty and consistent uprightness of character
None of this is about truth and/or character, it is about net etiquette, respect and maintaining harmony in a public forum.
I used to be a moderator on this forum, however for various reason I chose to resign, however I have always been concerned with maintaining some level of harmony within this public domain, and if that means, addressing concerns of other forumites who approach me (knowing my past role) to “do something” then believe me, I will not ignore them!!! If that does not sit well with you please take it up with admin.
Cheers,
Jo
Originally posted by wayneL:Hey Foundation,
I’m enjoying “myth busters” keep them coming.
Interesting to note how upset the permabulls become over this…real zealot type stuff. LOL
Cheers
Wayne,
You have called me a property bull on many occasions, but fear not, I am hardly insulted by it at all; quite the opposite in fact.
FYI I do not invest in property ONLY although that is predominantly my preferred market. My knowledge is infantile in comparison to your re the share market (and to be honest I don’t think I will ever be a match for someone like you who trades every day) however, I am happy to learn slowly.
I am not in the slightest upset by Foundations “myth busting” efforts; they are interesting, amusing and definitely good value. It is HIS BEHAVIOUR which concerns and annoys me and others in the forum. Please do not confuse the two; although I do not know Foundation well, I do know you Wayne, and your love of a good debate, but that insulting someone with an opposing view is hardly healthy debate don’t you think???
Cheers,
Jo
Originally posted by foundation:No Ms Monopoly[crying], in my previous post I suggested that there are dangers in arranging wrap finance in the current economic climate for the reasons stated above. I am genuinely interested in any solution to this problem.
I may be mildly ignorant by your standards, but a troll?
Cheers, F.[cap]
I would strongly advise you to stay away from ‘wrap’ deals in a falling market. What happens when the wrappee sees that their house is worth far less than what they are paying for it? They can walk away, leaving you with the negative equity. On the other hand, you could try to structure the contract to enable you to chase them for the difference, but god help you when ACA or Today Tonight hear about that!Cheers, F.So you did; my apologies. Yes your ignorance is crystal in this post about wrap deals in which you infer that wrappers are liable to do the dirty on their wrappees. Oh and your mere reference to ACA/TT is surprising to say the least considering your stance on more factual sources of information. Hardly your style at all now is it???
Originally posted by wayneL:So any dissenter to the mainstream of thought is now called a troll??
I don’t see foundation as a troll at all.
Let there be balance!! Yin and Yang!! Pro & Con!!
Cheers
No Wayne, not every post(er) is a troll and debate is fine IMO, however when the poster “baits” “provokes” and “manipulates” in order to flame then this is typical of troll behaviour and it is only a matter of time before the harmony in the forum is disrupted to the point that people who generally get along well are arguing unnecessarily. It has not got to that yet, but IF Foundation were to debate in a mature manner without twisting information and challenging people on simple things like their beliefs, then he is A TROLL.
I believe in a healthy debate, but I do not believe in DISRESPECTING another’s right to their opinion by challenging it to the point of being insulting!!
Cheers,
Jo
Originally posted by foundation:[blink][blink]
Wow. I’m sorry for offending you Ms Monopoly. I have tried to be straight down the line with all my posts, including the one to Derek. I have a great deal of respect for the man as his posts are generally very interesting and considered, as I had for you until the last couple of days. While we obviously have differing views on the future and the best way to tackle it in regards to property investing, duplicity is hardly my style.Let’s get back to the sharing shall we?[blush2]
Cheers, F.[cap]Nice try Foundation,
But you will have to excuse me if I don’t buy into your flattery for either myself and/or Derek as this is typical of your posts until there is an opposing view then sweet is soured in record speed!!!
You have not offended me in the slightest, although I am disappointed in your lack of concern for and disrespect for other people’s views.
I neither care nor want your approval/respect. I will be sipping on my latte while you are still analysing data and trying to figure out where you went wrong!!!
Baiting again are we Foundation, in another post you stated that you don’t believe in WRAPPING; why the sudden interest??? [blush2]
http://en.wikipedia.org/wiki/Internet_troll
See definition:
Internet troll
From Wikipedia, the free encyclopedia.
An internet troll is a person who sends duplicitous messages hoping to get angry responses, or a message sent by such a person. The term derives from the phrase “trolling for newbies” and ultimately from trolling for fish; it first appeared on Usenet. The term is frequently abused to slander opponents in heated debates and is frequently misapplied to those who are ignorant of etiquette.Trolling is often described as an online version of the breaching experiment, where social boundaries and rules of etiquette are broken. Self-proclaimed trolls often style themselves as Devil’s Advocates or gadflies or culture jammers, challenging the dominant discourse and assumptions of the forum they are trolling in an attempt to subvert and introduce different ways of thinking. Detractors who value etiquette claim that true Devil’s Advocates generally identify themselves as such for the sake of etiquette, whereas trolls often consider etiquette to be something worth trolling in order to fight groupthink.
Trolls are sometimes caricatured as socially inept. This is often due to the fundamental attribution error, as it is impossible to know the real traits of an individual solely from their online discourse. Indeed, since intentional trolls are alleged to knowingly flout social boundaries, it is difficult to typecast them as socially inept since they have arguably proven adept at their goal
Originally posted by foundation:Hello Woodsman,
If you don’t think many average folk believe that ‘immigration is destroying house affordability’, and ‘we have 2 IPs in Sydney which can’t grow any more because of the green wedges, so they will go up in price because everybody wants to live in Sydney!” then I don’t think you’ve been spending enough time around the water cooler! If nobody here believes the myth, that’s great, my objective was already achieved, I just wasted 10 minutes typing![blush2]To clarify the rents issue, I clearly stated that ‘Rent has failed to keep pace with house price inflation.’, not broader inflation.
Oh, and regarding adding ‘value’, I may simply be lazy, but I would rather buy at a reduced price than put in a whole lot of effort![evo]
Thanks for your suggestions.
Cheers,F.[cap]http://en.wikipedia.org/wiki/Internet_troll
See definition:
Internet troll
From Wikipedia, the free encyclopedia.
An internet troll is a person who sends duplicitous messages hoping to get angry responses, or a message sent by such a person. The term derives from the phrase “trolling for newbies” and ultimately from trolling for fish; it first appeared on Usenet. The term is frequently abused to slander opponents in heated debates and is frequently misapplied to those who are ignorant of etiquette.Trolling is often described as an online version of the breaching experiment, where social boundaries and rules of etiquette are broken. Self-proclaimed trolls often style themselves as Devil’s Advocates or gadflies or culture jammers, challenging the dominant discourse and assumptions of the forum they are trolling in an attempt to subvert and introduce different ways of thinking. Detractors who value etiquette claim that true Devil’s Advocates generally identify themselves as such for the sake of etiquette, whereas trolls often consider etiquette to be something worth trolling in order to fight groupthink.
Trolls are sometimes caricatured as socially inept. This is often due to the fundamental attribution error, as it is impossible to know the real traits of an individual solely from their online discourse. Indeed, since intentional trolls are alleged to knowingly flout social boundaries, it is difficult to typecast them as socially inept since they have arguably proven adept at their goal
Originally posted by foundation:Hi Derek,
Another top post as always. I must admit I’m a little surprised only 57% of the suburbs in your survey had achieved the double in 10 years ‘rule’ over the last 10 years.Now with the data you have at hand, might I with all due respect enquire whether you believe that ‘House prices on average (will) double every 10 years’ over next ten, twenty and fifty years?
Thanks again,
F.[cap]Excellent “baiting” Foundation; typical troll behaviour; entice the victim into a false sense of admiration only to challenge and/or verbally abuse.
http://en.wikipedia.org/wiki/Internet_troll
See definition:
Internet troll
From Wikipedia, the free encyclopedia.
An internet troll is a person who sends duplicitous messages hoping to get angry responses, or a message sent by such a person. The term derives from the phrase “trolling for newbies” and ultimately from trolling for fish; it first appeared on Usenet. The term is frequently abused to slander opponents in heated debates and is frequently misapplied to those who are ignorant of etiquette.Trolling is often described as an online version of the breaching experiment, where social boundaries and rules of etiquette are broken. Self-proclaimed trolls often style themselves as Devil’s Advocates or gadflies or culture jammers, challenging the dominant discourse and assumptions of the forum they are trolling in an attempt to subvert and introduce different ways of thinking. Detractors who value etiquette claim that true Devil’s Advocates generally identify themselves as such for the sake of etiquette, whereas trolls often consider etiquette to be something worth trolling in order to fight groupthink.
Trolls are sometimes caricatured as socially inept. This is often due to the fundamental attribution error, as it is impossible to know the real traits of an individual solely from their online discourse. Indeed, since intentional trolls are alleged to knowingly flout social boundaries, it is difficult to typecast them as socially inept since they have arguably proven adept at their goal
No problem Brad,
Sorry if I sounded somewhat sharp with you, it was not my intention; my desk looks like a war zone atm and hence I have 1001 things going on at one time.
Simon,
Thanks for tracking that, I knew it was on their website somewhere, but as I explained to Brad (above) I am flat out atm and all I could muster was a quick explanation (and a lagging one at that).
Cheers,
Jo
Apparently it has something to do with the LAND component of CGT exemption, and that if you buy the land with the intention of building your PPOR on it, it is recommended that you live in the building for a min. of 3 months. I will hunt down the reference for you.
Cheers,
Jo
