Hi Kenshin, [] I sure misread your post. I thought the post said that you had dug up some course on the internet. On re-reading your post I see now that isn’t the case at all.

I am sure Tafe is fine.

I am sure however that many would find it interesting to see the figures you used.

(That is, your salary income, deposit and loan amount in each…[Read more]

MichaelR, it isn’t me who stops one getting finance.

Say one found a site suitable for even just 10 townhouses and the deal stacked up. If one hasn’t got any money , well find a moneyed partner for the deposit etc.

If one thence approached a bank or a finance company to borrow the rest one will find that one will be refused if one hasn’t got…[Read more]

Mastermind, a profit of $ 30k per dwelling isn’t all that good considering that many things can (and do) go wrong.

Perhaps you have paid too much for the blocks to start off with ?

Can you detail the costs involved (purchase price of the land, building costs, landscaping including driveways, supervision by a builder or architect, selling…[Read more]

Hi Uncivilized, (any chance we can refer to you with a more positive handle??)

I clicked on your link from your post:

PAGE CANNOT BE DISPLAYED

Any other suggestion.

Kind regards, Phil

Hi James,

It’s a wrap in disguise.

Not dumb at all. You should see some of myquestions !!

Shared equity describes something that I thought of some time ago. I wondered why the lending institutions had not thought of it earlier. If they lend so readily, then why not get two bites at the cherry with direct ownership in capital growth,…[Read more]

Hi Uncivilized,

My sentiments exactly, in theory.

Neg gearing can work while you are still working. To properly work however, the long term CG must outstrip the shortfall for the term of ownership.

You have already realised the limited serviceability of buying pure neg props. The trap you have fallen into however, is in thinking that you have…[Read more]

Hi Kenshin,

Please explain why the bank would only lend
$ 260,000 as a house ofr your personal use and lend $ 480,000 as an investment.

You mention the words : “to start my life/career in the property industry.”

If you are thinking of a career in real estate (as a valuer or whatever) why would you study (presumably) obscure course instead of…[Read more]

Hi Sue,

Well, I reckon so. This site will become busier later in the week, just watch. However, I feel that interest in property in general will decline. It’s just an observation, not a point to prove nor disprove. As you say, it will ripen again, but it’s about timing. I’m also one of the sheep, but I’m hoping that by having open discussions…[Read more]

Thanks guys – am looking in the Brisbane area – so will take your advice

Regards
Chris

Hi Diclem,

To market .. to market .. to find another market !

What the hell’s going on ?

The last time I recall my brother being any where near inebriated was at his 21st. That’s a very long time ago by the way girls. I was about 5 at the time, but pissed as a newt, relaxing under the Orange tree wondering why it was spinning around, after my unsupervised attempt at emptying the dregs from longnecks.

Do…[Read more]

Hi Mel,

You’ll have to forgive Bill. Like me, he’s out of touch with today’s sports.

My broker has been playing golf all day by the way, so I will refer to your other advice tomorrow.

Kind regards, Phil

Hi Paul, how the hell are ya?

Good post mate.

Thoughts:

1/ Cash attracts no interest charge .. cash is pure 100% .. look at opportunity costs and the cash-on-cash return
2/ But, as no cost deductible ..
3/ Pay it off the PPOR, then reborrow
4/ Determined usage cost of redraw might then be claimed against IP’s or other choice of punting
5/ If a…[Read more]

Hi Josh,

One last chance .. would you please start a new thread under “General Investing” ?

You mentioned in another post that you are having way too much fun in the stock market.

I am keen to hear your thoughts, in general terms of course, so that we can converse with no fear of being locked out. Just refer to houses occasionally to continue a…[Read more]

Thanks Westan,

Excellent. It’s a combination .. rates local and O/S, inflation, dollar value and unemployment.

JH may be correct with his Trifecta. I am broadly anti-union. My union imposed, of whom I am not a member, has been quiet for a long time. Now I can see that union activity/vocality might be a good litmus test of the national economy.…[Read more]

Point taken Terry. But what about if the sale is structed by way of option with the option holder (the future owner) paying such a hefty option fee that he is unlikely ti walk away from exercisng the option in 9 months time ?

Pisces133

The lenders I am familiar with do not require a Statutory Declaration, just a statement by oneself as to income and that one is aware of one’s obligations and is capable of servicing the loan.

I would think that everyone concerned is well aware that a Low Doc is in essence an asset loan even if the lenders do not appear to state so outright.

So…[Read more]

Hi everyone!
Its great to see everyone doing so well.. each at different stages in their investing strategy, however, all at least doing something. Anyways, here is my 2 cents…

1) What was the prime motivating event in your life that created a focus on the need to invest?
I think that the main driving force is my dad and my brother. My dad…[Read more]

There are a few obstacles however Alwayslearning.

Firstly in order to borrow a total of say $ 4 M one needs an income of probably $ 400 K or even more (including rents).

One cannot hide from the latest lender that one has some $ 3 M or so in loans from other lenders as a Low Doc loan means that one normally would be required to provide a…[Read more]

Based on the above one could in theory enter into a contract to purchase, settle say 3 months later, enter into a contract to sell say the next day and provide the buyer with a long settlement of say 9 months whilst giving him/her possession of the property immediately after exchange of the contract (and in return for this favour the buyer…[Read more]