Forum Replies Created
Hi Simon,
It was the Manager that said No, first he said he would see what he could do then he rang back the next day and said that "they would not be willing to lower the rate".
Then he said he would have one of the girls send out the paperwork.
May I ask how you went about obtaining your lower rate?, and how much they came down for you? (if that's not too personal).
Regards SunnyHi guys,
Thankyou so much for your wonderful opinions,
You all have great points that I will be discussing with my hubby.
I do feel more confident about which road I will go down but there are a few little things that you pointed out that I will have to
take into concideration.
Maddog you are absolutely right, if china does put the brakes on buying a lot of people out hear will be in a spot of bother.
Tysonboss, thankyou,I like your thinking.
Devo, thanks again, you make me more confident with keeping them.
Our IPs are not in Blackwater but Rockhampton, 1 of the major towns 2 hours drive away and the social hub of Central coast QLD.
The rental market here is in such short supply that both our IPs were vacant for only 1 week after advertising them.
Freeman, Yeh it's hard to believe that the mines would spend BILLIONS of dollars if they wern't sure china and India were in it for the long run, but I guess they can always change their mind hey.
Hi Raelene, Yeh I saw that 60 minutes program too,
It is very hard to get into BMA out here but if you have your rear dump or belly dump tickets go for it, send them your resume, but be prepared to do something else while you wait, they don't rush into anything out here.
I have my rear dump ticket but I had to clean out at the mine for 6 months befor I got a break, but if your here and your seen it makes it a lot easier to be handy when they do need someone.
And yes the money is good and it's what made it possible for us to get into investing.
Hi runinniv, yes the prices of house here in the last 2 years has been spastic.
Houses were selling for about $60.000 a few years ago now sell at around $260.000.
But it has settled a lot in the last 6 months and they are starting to come down a little.
I don't think they will come down too much it's just they came so far so fast that they are doing a bit of leveling out now.
But as far as a nice town goes, you would be a bit dissapointed. We call it Bleakwater. But I don't think you could do wrong buying here as long as the mining boom lasts.
The last time the mines flopped out here it basically turned this town into a ghost town.
Thery were actually removing houses from here to take else where.
Just wondering????????
Does anyone have insurance that will cover there IP investments if they are unable to make the monthly repayments??
I have Landlords insurance but I wonder if there is anything our there that would cover you payment wise if a recession does hit???
Does anone know if there is something out there that would make your IPs recession proof insurance wise??
Sorry if it seems a stupid question.
Thankyou you all very much for you insights.
Kind Regards
SunnyHi Devo & Freeman,
Thanks for your reply, Yeh there are a lot of ifs involved in this isn't there.
Sometimes it hard to know what to believe, Can I ask you guys what you mean by protecting yourself? Do you mean insurance wise or an escape plan?
My hubby is a bit of an extreamist, if it's loking bad it's like the world will end so he's of the opinion sell as soon as it looks like the recession is coming, but I agree with you guys, I would rather have a plan in place that doesn't involve selling as the prices of houses in Rocky have gone ahead in leaps and bounds and I have great equity already after only 1 year.
And you did make a great point Freeman which has hit home with me, I'm not sure just how far house prices will fall if a recession does hit but I think it will by far a better option to keep them if we can.
Then again like Devo said, what if it never comes , I went through the last one and I can't ever remember a time when I thought jeez this is tough. But then I didn't have property either.
Thanks again for your opinions and idea's
Kind Regards
SunnyHi guys,
I have 2 IP
1 I bought 12 months ago for $118.000 & is currently rented out for $155.00 a week, now valued at $160.000.
The other I bought 6 months ago for $225.000 and renting out for $230.00 a week, now valued at $270.000.
I'm very happy with how they're going.
Hugs
