don't EVER get in a financial adventure with family. And in this time of crashing houseprices, it's even worse. Don't do it.

elkam wrote:
May I ask what sort of investment property you have/had in Holland Scamp.

I have a Type A PI in holland ( a safe, mostly paid off mortgage ) which I rent out to students. I have evicted the students and am selling now, as the bubble is about to deflate here in about a year or so. We're seeing a final rush in the property prices…[Read more]

Have your house valuated by at least 3 real estate agents. Don't tell them you want to sell it ( because they won't be honest about the real price ) , just tell them you want to use the equity for a new house. Chances are that the real estate agents will be honest to you and tell you that your property 'might devaluate' to 20% in the short term…[Read more]

Oops.. didn't read this part : He has no other assets, but has credit card and tax debts of $20KOmg… tax debts ? Credit card is bad, but tax debts are as bad a hitting a police officer, it will get you in trouble fast and it only gets worse : you get on the taxpayer blacklist. There's no reason he should have a tax debt, if he owns a car and b…[Read more]

Well if he's your husband you're in deep trouble. If he can't pay , they will have YOU pay for him, it's really as easy as that, no questions asked. If he gets in debt, there will be no questions asked to you, you will be foreclosed together with him. The joys of marriage. He sounds like an irresponsible money-spender, the type that's usually…[Read more]

oh my god this is the dumbest thing I have ever seen anyone done. You are food for the Ponzi scheme, it's what the whole scheme is relying on. What do you want to do man, buy a median price for 400.000 at 10% interest ?… that's 40.000 per year just paying off rent. Let me calculate it for you , in the WORST of cases ( which you SHOULD take as…[Read more]

My post was made to warn you about a coming crash. It's already happening just take a look at the news items : – Sydney house prices dropped 50% ( this is actually not true, they only dropped 20% )- Worst is to come ( talking about the crash )Anyway.…[Read more]

Don't worry , I know a lot more than you think about the australian housing market. People are people.

Yes , I know your goverment is corrupt and your housing minister has 14 investment properties

Yes, I know you think (wish) there's a housing shortage, but in reality there are 800.000 empty dwellings. It just shows you haven't done research.…[Read more]

Don't worry , I know a lot more than you think about the australian housing market. People are people. Yes , I know your goverment is corrupt and your housing minister has 14 investment propertiesYes, I know you think (wish) there's a housing shortage, but in reality there are 800.000 empty dwellings. It just shows you haven't done research. Your…[Read more]

My harsh comment was made to grasp people's attention. It did, and I'm sorry if I offended some people. I'm sure there's smart people around here, I'm a PI myself, I'm about to sell my 'boomed out' properties in Holland where a boom at this moment is unlikely ( prices haven't boomed enough to cause people to be in massive debt ). However ,…[Read more]