Hissho,

If you go low doc, 3 brokers have assured me in the last 6 months that all you need is a 20% deposit. They don’t want specifics on whether you have the income to service the debt (such as P&L statement, tax returns). They consider the property and your 20% will cover potential losses.

THe documentation and criteria I was asked for are:
-…[Read more]

Pisces, you say
“Bruce, it is obvious to everyone, bar you so it seems, that the problem is your behaviour in disclosing addresses when Bear was trying to earn a smallish kind of fee”

I am not a fool Pisces. And I would encourage you to live by facts rather than foolish emotional partialities, before perpetuating a witch hunt.

If you go back and…[Read more]

Bear, it’s a new year. There’s no need to be puerile, vindictive, and spiteful. I won’t be responding to such in the new year, after this. It was one of my new year’s resolutions not to get caught up in schoolboy ego games or otherwise waste precious time.

You seem to think because I said I was an IP virgin at the beginning of December, that I…[Read more]

You might consider growing trees in strategic locations to cut down on house heat. You might also consider insulation. Believe me, it makes a hude difference.

A valuer friend in Brisbane tells me street appeal has considerable bearing on property valuation. If you want to up your property value as efficienctly as possible, try some cosmetic…[Read more]

The only ‘new’ road I know out to the Gap is a little repair job on a bridge on Waterworks Road that was being worked on from September to December. The traffic is still atrocious during peak hour.

Nevertheless, the suburb is a leafy one close to the city with some nice homes, and maybe some agents feel it is undervalued relative to its…[Read more]

I have been looking at doing the same with a couple of houses. Things I have had to take into consideration are:
– council regs- setbacks from fences, maximum size of granny flat as a percentage of main dwelling, car park spaces.

– I have looked at putting mobile homes down in the backyard as a way to overcome permanent dwelling regulations. Have…[Read more]

SIS, I didn’t post to brag, but to let you guys know that yes I was a virgin at the beginning of December, but was serious about investing in IPs. I mentioned the properties I bought to clarify I approach things hopefully intelligently and only after a lot of research.

The point I was making about what others have bought in the last month was to…[Read more]

To the Bear-o-philes who think Queenstown is ripe for significant capital gain, despite Sterlite Industries outlook, since my original post I have bought the following:

– a brick 4 pack for $280,000. gross wkly rent $520. privately valued at $440,000 2 weeks after purchase.

– two houses in an up and coming Brisbane suburb. gross rental yield…[Read more]

when I sign a contract as an offer to buy a tenanted house, I always include the option to take vacant possession. That way, if the tenant is a problem, you don’t settle until the current owner gets rid of him. Otherwise, you can be obligated to settle with a squatting tenant occupying the house.

Bruce
Mooloolaba, Qld

Here’s a more scientific hangover preventative.

http://optimalhealth.cia.com.au/thiamine.html

Thiamine, along with lots of water before and during drinking, and lots of citrus juices after, helps heaps.

Bruce
Mooloolaba, Qld

thanks for the excellent info Tools. much appreciated.

Hope your Chrissy break is rolling along nicely. We are having a heat wave up here. Tis unbearable outside.

Bruce
Mooloolaba, Qld

Merry Christmas everyone,

GG, I had a look at 30 odd homes removed to a site at Burpengary Qld, Eddie Wright House Movers.

I spoke at length with the guys there and some other people who are familiar with moving. My brother also moved a big colonial, and was really caught out by the post moving reno costs.

Many of the houses I saw at Eddie…[Read more]

does anyone know why Bill isn’t on the forum anymore?

Bruce
Mooloolaba, Qld

I believe the property was a going concern of 30 townhouses under dev’t in Brisbane that the vendor wanted to get out of a third of the way through due to delays and cash flow problems. A third of the townhouses had already been completed and sold off. It was the vendor’s shelf company that was sold to the buyer.

Bruce
Mooloolaba, Qld

Hi Bill, I am interested in reading your spin doctor adverts. thefirstbruce@hotmail.com

Is anyone buying property these days? All the agents I talk to say there’s no more than 10% growth in 2004.

TIA
Bruce

Bruce
Mooloolaba, Qld

http://members.dodo.net.au/~thefirstbruce/Landtax.xls

Bruce
Mooloolaba, Qld

GG, I put up a very basic spreadsheet that allows you to do the operation you ask at

http://members.dodo.com.au/~thefirstbruce/compoundinterest.xls

you just plug in the initial investment amount, and the interest rate in the green coloured cells. you need to know what the interest rate per period is. a period can be a month or a year, depending…[Read more]

Henry and Matt, thanks for your reasoned replies.

Sis and Bear, disgruntled REAs call due diligence tyre kicking. I am yet to meet anyone who puts an offer in on every property he inspects. If my son was to buy real estate based on advice from a stranger, then i would also encourage them to tyre kick. Obviously, a seller is happiest when he gets…[Read more]

Bear, win/wins are only possible when you respect others. You made the comment

“Your facts are not correct for the properties i am talking about!!!!!!!!!!!”

without knowing what I was talking about. In future, give the benefit of the doubt that others may know what they are talking about.

I was motivated to have this conversation on the forum…[Read more]

Bear and SIS, you chastise me for exposing ‘your’ properties. But let me remind you that Bear said, before he even knew what I was talking about, that my facts were not correct. i.e.

“Your facts are not correct for the properties i am talking about!!!!!!!!!!!”

That’s the only reason I put the street addresses up, without mentioning the town you…[Read more]