[NEWGENParticipant@newgenJoin Date: 2004Post Count: 151]

May 22, 2004 - 7:49 am

Originally posted by Terryw:

I would think it is exactly that same as selling yours and buying his – as that is what you are doing in essence.

Terryw
Discover Home Loans
North Sydney
[email protected]

Yeah that’s kind of what would happen.. but it isn’t totally because the 300k from my property is just being transfered over, no cash transaction.. just got me wondering that’s all The finance side of things has me puzzled now. Thanks for all the input so far everybody! [exhappy]

[NEWGENParticipant@newgenJoin Date: 2004Post Count: 151]

May 22, 2004 - 2:42 am

Hi Derek!
Haha don’t worry, I was still waking up I think! [confused2] So with the swap, the two parties would write contracts on the written down cash value of each property? I was just wondering if they’d do that or write something in about the title transfer. So how would payment and settlement work assuming that both parties had finance? It’d be interesting to know what the figures would be like on each contract as well. This is all a bit complicated isn’t it [blink] [weird]

[NEWGENParticipant@newgenJoin Date: 2004Post Count: 151]

May 20, 2004 - 1:28 pm

Two very important things you need to remember when studying for long periods:

– Have regular breaks during study sessions. Keep active during the week.
– Eat healthy and keep a regular/balanced diet.

A healthy body is a healthy mind [thumbsup2]

[NEWGENParticipant@newgenJoin Date: 2004Post Count: 151]

May 18, 2004 - 1:30 pm

Originally posted by Marisa:

Can anyone help out there the message “A TROJAN” is detected keeps popping up on my computer. Have tried deleting and scanned with McAfee Virus SCan. Anyone had this before…..

Hi Marisa, is the message a McAfee Virus Scan message? Or is it just a random message that doesn’t tell you what the trojan is called and tries to direct you to an anti virus software page? If it is in fact McAfee alerting you to an infection, it should tell you what the infection is called and prompt you to either delete the file or clean it. If it is unable to do either then you will need to check to see if your DAT files are up to date. If it is a genuine infection (and not a dodgey pop up advertisement) then I’d suggest downloading Stinger from http://vil.nai.com/vil/stinger/ and running a scan with that on your system. It is a free download and detects the most common and current viruses, trojans and worms.

Cheers

[NEWGENParticipant@newgenJoin Date: 2004Post Count: 151]

May 18, 2004 - 7:48 am

Originally posted by ezy.home.loans23320:

question where do We stand, what about the $10.000 deposit all contracts where signed. but it seems The Gold coast franshize have said …see you later aligator.
I.m not feeling so EZY[buz2][withstupid]

I’m sorry to hear about that.. did you ask the person you spoke to those questions?

[NEWGENParticipant@newgenJoin Date: 2004Post Count: 151]

May 11, 2004 - 7:17 am

Thanks for the link Mel, I’ll check it out
Aceyducey, I’ve taken all of the old tiles out and I’m pretty sure I can do the floor tiling. The wall tiling is just a bit tricky because the previous owner did a pretty dodgey tiling job, the tiles were all uneven so the wall isn’t perfectly flat. I’ve just gotta get the wall even and the tiling should be a breeze. Hope it all goes well.. [confused2] hehe.

[NEWGENParticipant@newgenJoin Date: 2004Post Count: 151]

May 10, 2004 - 12:52 pm

Originally posted by Milly:

Everyone I have ever heard has urged me to pay off my house. I completely forget WHY they tell me to do that.

For investment purposes, interest paid on a PPOR isn’t usually tax deductible. This is why people are more enclined to pay off their PPOR and refinance so that most or all of the interest incurred on their loans are for their IPs which are tax deductible.

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May 10, 2004 - 2:10 am

That much CG in 2 years.. I wish I was in your shoes
The yield on your investment is pretty average. Depending on growth in the area and how well the business is going (and if it’s growing).. I’d probably sell, especially if you had other properties you could pay off with the surplus.

[NEWGENParticipant@newgenJoin Date: 2004Post Count: 151]

May 10, 2004 - 1:58 am

Lucifer_au, that pretty much sums up what I was thinking but didn’t want to post.. I agree with you completely. What’s that saying about teaching a man to fish instead of giving him a fish? It goes something like: “Give a man a fish and he will eat for a day, show him how to fish and he will eat forever”. [blush2]

Marc1, it’s a difficult situation you’re in.. you probably need to sit down with your daughter and her husband and find out what their financial plan is ‘if they have one’. Having 3 kids would make things incredibly harder for them.. but I guess they would/should have planned for this..

Cheers, and goodluck!

[NEWGENParticipant@newgenJoin Date: 2004Post Count: 151]

May 9, 2004 - 11:24 pm

They’re extremely lucky to have the friend rent them their place at a low rent. I wouldn’t want to imagine how things would be like for them if that wasn’t the case; 3 kids, one casual income.. in SYDNEY too. [blink]

Apart from the husband possibly getting full time work, is your daughter thinking of doing anything to help financially? Maybe work from home or something similar? Just from the basic info you’ve provided I’m thinking that they’d be struggling if she doesn’t.. imagine their friend decides to stop renting the place to them and wants to sell it.

[NEWGENParticipant@newgenJoin Date: 2004Post Count: 151]

May 9, 2004 - 1:13 pm

Originally posted by Fat Tony:

Crash > Crash > Crash > Crash > Crash > Crash.

Looks like it will crash soon.

Any comments.

I’m surprised how this boring post got so many responses.. [sleepy2] .. and the poster hasn’t even responded to any of the comments within it!

My opinion: For every loss there is a win. The only ones that will suffer are the ones that didn’t calculate their finances properly and prepare themselves.. others can just wait for the market to improve. Property investing works out most of the time in the long term! [thumbsupanim]

[NEWGENParticipant@newgenJoin Date: 2004Post Count: 151]

May 8, 2004 - 12:23 pm

My thoughts = your post is lacking some information.. [blink]
You know there are some country towns where the councils GIVE AWAY land to people to encourage investment and economic growth.

[NEWGENParticipant@newgenJoin Date: 2004Post Count: 151]

May 5, 2004 - 1:34 am

Did anyone watch Hot Auctions last night? These two guys purchased a house with plans of moving it onto a block of land they’d purchased elsewhere. They won the bidding at the auction with the price @ $265k only to find out that the council where the empty block was wouldn’t allow for the house to be moved there as it was too big. So a simple but easily forgotten thing to check would be council approval.. get all the measurements etc ready. [blush2]

[NEWGENParticipant@newgenJoin Date: 2004Post Count: 151]

May 2, 2004 - 2:25 am

[/quote]

But wouldn’t the Media generated hype be a good thing for us poor investors, hey the prices come down and we purchase at a better price.
[/quote]

That’s definitely one of the good points. What I meant with the comment was just how the media has been publishing crazy articles with statements from ‘experts’ such as housing prices not appreciating for the next 10 years for example. It just freaks me out how someone can say something so general and in my mind.. impossible and have it published, being confident that what they say will eventuate. There are just so many factors which influence this and so much can happen in 10 yrs [jerry]

[NEWGENParticipant@newgenJoin Date: 2004Post Count: 151]

May 1, 2004 - 2:34 pm

Originally posted by Monopoly:

What’s to fear????????

Jo

The only thing I fear is media generated hype. [weird]

[NEWGENParticipant@newgenJoin Date: 2004Post Count: 151]

May 1, 2004 - 6:41 am

Low income + wanting to invest in Sydney = [weird]

My advice: start small; maybe a 1br unit, then move up. Even with a partner, things will be hard when you’re on a low income. Sydney prices are shocking, have you thought of investing interstate? Somewhere more affordable like Adelaide or even Melbourne might be the way to go.

[NEWGENParticipant@newgenJoin Date: 2004Post Count: 151]

April 30, 2004 - 12:48 am

Originally posted by Bionic Beer Gut:

Why Penrith?

It should be a high growth area.. check the building approvals for it It will probably be heading in the same direction as Parramatta. These areas are doing well mainly because most people can’t afford houses closer to the CBD and they’re basically satellite cities with all the conveniences you need.

iwsctws, the answer to your question relies on your budget too I’m looking at purchasing my 3rd property within the next few months. The areas I’m looking into include Redfern and the suburbs between Newtown and Stanmore.

[NEWGENParticipant@newgenJoin Date: 2004Post Count: 151]

April 28, 2004 - 4:10 am

Might not be a good idea but worth a shot.. this idea depends on how long you want to keep the property as a rental for and how big the lawn area is. You could do a minor landscaping job or just re-do the lawn with a low maintenance grass.

[NEWGENParticipant@newgenJoin Date: 2004Post Count: 151]

April 28, 2004 - 4:06 am

I agree with what Rugbyfan wrote also. It might also be a good idea to check with the council in the area to see if there are any developments or business investments in the pipeline. If so it could turn out to be a good money maker. The rental return isn’t too bad either (even though it’s not CF+).

[NEWGENParticipant@newgenJoin Date: 2004Post Count: 151]

April 28, 2004 - 3:59 am

Wowsers.. you own your own PPOR and 3 IP’s outright? You’re doing better than most people here [thumbsupanim] With that many purchases I would have thought that you already had enough experience to answer your own question, unless all of the properties were bought upfront with no mortgages (?) I’m only a beginner (24yo with 2 properties) but to me, to be ‘safe’ with your loan repayments you should hopefully be able to make the repayments + any other expenses from your income even without rental income from the properties and still live comfortably (i.e. not surviving on 2 minute noodles ). It’s different from person to person though because everyone has different lifestyles and expenses so it’d be hard to say.