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i discovered leasing after owning more than 35 cars (i just love fixing them up !)
when my lease was up i sold my last hi lux and used the money as a deposit on a house ! yehah
leased a new hi lux the next day.
i think of it as a good way to build a deposit ,
my beautiful wife has a 90 bmw that goes like stink uses no fuel ,built like a baby tank and is really easy to have repaired by a skilled tradesman if i am away
i would and do reccomend these cars to any one (see rich people arent stupid ! )
we also have a scooter which i ride for all errands in my post code, and even took to sydney last job i did there (82 vespa appreciting and fun, uses about $5fuel a month)
and a big bike for fun
and a mustang which we bought as a doer upper not sure if we will make a profit , but who would have known the us $ was going so far south
if i had some spare cash id be buying muscle cars off sub prime loan holders in the us right now !
i used to share house with an accountant and ride a motorcycle worth a years pay, we discussed my situation often and i decided to keep at least one toy
when the stock market crashed about two years of work and sacrifice went with it ,i had more funoffer vendor finance for about 20% of the value of the property.
nice tip scarecrow !
today s news ! just finished bollocking my agent for the leaking tap which has been ongoing for a year i keep saying " please replace " and nothing happens .this weeks property manager is away on a course ( probably resulting in a promotion and another trainee )
i booked a rival agent to do an inspection / valuation and the boss was on the phone in a half hour RESULT!
side note ….rival agent reckons he can get $50 a week more in rent ( so i can re finance and pull some money out ! )
more soonwait a few weeks, if the bikes are the chinese cheapos they will fall to bits soon
and be impossible to repair, good luckyep ! my sisters husband ' found ' a bunch of receipts in his pocket a few months after i had sold the flat he painted for me . i thought i had already paid him most generously ,one i was really pissed off that my sister lives in poverty cos her husband wont take care of details .and two they got really upset when i suggested that a proper business wouldnt pay till the lawyers letter arrived .
and yes even though it was a nice job i could have taken a week off and done it myself and had a couple of grand left !
my new motto is " no good deed goes unpunished !"i have land lords insurance (and i would duck for cover behind my property manager from a large chain )
and i love doing maintenance on my properties .love love love
and i have lots of debt so no point suing me (till i am old )
cheers and good lucki refinanced recently and changed banks. went in to get rid of three accounts ($5 a month each )and a card (17%)
IT TOOK AGES ! suddenly the good offers came out ! like 8% if i keep the card ……
i had to raise my voice (which i dont do very often )
my wife had the same experience ( she s nicer than me and still had to demand "strongly" )
so if you want a discount on your intrest rate just offer to hand the card in …..
and hand it in any way ! " too little… too late "have spent the day digesting the show and the real crime is wrapping up and on onselling all that debt as "property backed loans" when the owners had no equity and no job ! when things get tough there is no reason to stay
amazing what people will do for granite bench tops (anything but maths !)
sadly i have lost my shirt a few times in a variety of ways …….not sure a book on it would be happy reading !.but i take your point .
this makes me want to hang on to my property in spite of suggestions about the market now or next week
its for in twenty years when i retire anyway
in which case we should all be yelling " ye har the great sale is coming ! "
cheersmanage one and have an agent do the other .
i am sure i am the only owner on the books who actually likes fixing my property up.
i hate paying call out fees to have one washer replaced (every three months …)
as a rule they go for the largest ad in the yellow pages ………..and stuff that requires a bit of co ordinating takes a very long time and seems to cost double
if you get a good property manager you will be in heaven
if you get four a year due to staff turnover and internal promotion you wontif you do you wont pay much tax at all !
better educated people ( than me ) can show you how to apply (to the ato)to have your deductions decreased (out of your pay and up front ) so you get some money to live off
mine were negative at first i waited a few years and the rents went up
.its a good feelingi love mine ! one less neighbour and two more car spots
i get about 40m of council land making my block appear bigger too (street appeal )
and really cool development opportunities if i can buy next door down the track due to two street access (s t c a)
i had a friend in canada who bemoaned the fact he had to shovel two lengths of side walk
my house is up high on a quiet sreet so i dont have headlight issues or fear drunk drivers failing to negotiate a bend
cant think of any negatives (other than the snow)just watched the show and am a bit confused ,i want to sell one of my ips now ,but i also want to go to america and buy more there …..
how cool was that guys two acre house on the river ?( about to be forclosed on …)
you have to question the logic of retiring and having a big mortgage ???? i got the impression his equity was zip
am i wrong or is the thing that is fuelling "our " market the mining money from china and not cheap credit and easy finance ?
i always have to jump through hoops
any thoughts ?just watched the show and am a bit confused ,i want to sell one of my ips now ,but i also want to go to america and buy more there …..
how cool was that guys two acre house on the river ?( about to be forclosed on …)
you have to question the logic of retiring and having a big mortgage ???? i got the impression his equity was zip
am i wrong or is the thing that is fuelling "our " market the mining money from china and not cheap credit and easy finance ?
i always have to jump through hoops
any thoughts ?paint it and leave it .i have two and live in one myself.cheers
hi you just have to go and look ,most agents dont really know what they have and are in the business of shifting accomodation to the first person who can afford it.
some thing i just noticed was that the “nice ” house we looked at had grandma carpet and pastel shades that would have been hot 50 years ago. it was all in good condition and was priced accordingly.the one we just put a deposit on( 60k cheaper) had threadbare carpet ugly 70s wallpaper etc…either way they both needed the exact same work !
men buy sheds and loungerooms ,ladies look in the bathroom and kitchen (moral a big shed my save you a kitchen reno….)cheershi just sat through a pitch for a similar strategy this morning ,the guy?/really big company wants me to take ALL the equity out of my house buy a brand new renter (house not unit, so he gets one tick ) in another city(x) ,all the rent plus my current payments go into my house(paying it off in record time ) while i seem to borrow the intrest payments against the investment,and i seem to be doing this while it is being built ,he exclusivly monitors my figures and rings me when i can afford another property etc
my current investment property and strategy (i had three )were ignored
i really like my equity( to me owning the house i live in is the whole point of the exercise ) and after reading how you feel now
i am walkingif i was in your shoes id grit my teeth and hang on. have a garage sale, deliver pizzas for two months and build a buffer ,sounds like right now a few grand would make all the difference to your point of view, in five years it’ll be the change in your ash tray
good luckhi in the last year i have lived in sydney, melbourne and the gold coast . i grew up in perth an at one stage had three investment flats there.i found having a nationwide view helps a lot
i look at replacement cost .i.e what does a brand new appartment/house cost ? and also a suburb to suburb compare ” this is just like bondi/ st kilda/paddington/mt lawley ” makes a scruffy inner perth flat look good(affordable) every time….what i noticed (in my patch) in sydney during “the correction ” was agents bleating about being unable to unload overpriced dogs as quickly as the good old days . i seriously felt the properties i was looking at did not compare .and actual livable housing was scarce as.
TOP SECRET huge bonus for investing in perth TIME ZONE !!!! i can ring agents banks plumbers mates etc well after work my time and still do business and resolve issues SAME DAY!!![specool]
