[yarposMember@yarposJoin Date: 2004Post Count: 247]

August 5, 2008 - 10:45 am

scamp you keep trotting out the UK immigrant thing,  are you trapped in a time warp or something.

UK immigrants make up about 15% of the total,  http://www.diac.gov.au/media/publications/statistics/immigration-update/update_june07.pdf

do what you like with UK immigrants,  there are a queue of others.  Surely you can come up with more convincing  negatives than this drivel

[yarposMember@yarposJoin Date: 2004Post Count: 247]

August 5, 2008 - 10:26 am

ummester wrote:

NOT

thanks for that valuable contribution,  what were you not-ing about?

[yarposMember@yarposJoin Date: 2004Post Count: 247]

August 5, 2008 - 8:46 am

not sure what these bank guys are on, but I want some!

maybe they just need to say something outrageous to get column inches in the press…or maybe they are just screwed in the head

[yarposMember@yarposJoin Date: 2004Post Count: 247]

August 5, 2008 - 4:03 am

yes crashy that leverage things works both ways , sadly we have many punters and industry gurus who havent lived through a downturn as an adult.   Anything less than a boom feels like a catstrophe for some of those people.

I am a B(just), BTW

[yarposMember@yarposJoin Date: 2004Post Count: 247]

August 5, 2008 - 2:28 am

"Statements like that just make people not listen to you even more than we already don't"

an absolute nugget Marc,  we really should have a quotes of the week/month thread….thanks for this you have brightened my day, something unexpected coming out of the armageddon thread.

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August 5, 2008 - 2:21 am

maybe its just me but I would be taking the CF+ road and would avoid any signifcant gearing against my PPOR……I doubt you will be looking at a high capital growth environment for quite a while now.    

Using the inherited place you could easily borrow into another place for a small contribution from you both and possibly have a nicely balanced holding position on two properties without putting your PPOR into the mix

You are in a very good position ,  we are at the peak of a bubble period and I would hate to see you leverage away your advantage. 

On the other hand if you want to go for it you are welcome to my IP's in Melbourne    just send me a note

[yarposMember@yarposJoin Date: 2004Post Count: 247]

August 4, 2008 - 9:30 pm

I think what you pay for in management fees is not running things while eveything is going well, its dealing with the issues when things go pear shaped.   In that case personally I would rather have an intermediary to issues notices , attend tribunals etc. and deal with the occasional attention seeker.   That suits me as I dont have much spare time and would rather have it for myself and my family rather than the IP's.

If you are happy to deal with all aspects of the tenancies then there is money the table for you to redirect..

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August 4, 2008 - 9:17 pm

Water rates may be included in the BC charges also, depends on your State and the metering setup (per unit or per complex).   With the one unit we hold (VIC)  the BC pays all water charges.   The only other item may be landlords insurance if you go that way to protect contents and loss of rent.

[yarposMember@yarposJoin Date: 2004Post Count: 247]

August 4, 2008 - 3:59 am

gee thats a nice web site….good luck with it

[yarposMember@yarposJoin Date: 2004Post Count: 247]

August 3, 2008 - 10:32 am

jack04 wrote:

I'm one at a loss as to where the property market is heading wages have certainly not kept in line with the increase in property prices, add in petrol and general living expenses. Now we have interest rates at the highest in years, and even if the Reserve Bank start dropping official rates will or can the Banks with funding costs so high drop their rates accordingly All bets are on the credit crisis being around for at least another 18 to 24 months so does that mean banks cannot drop rates for this period – So how can the prices keep going up if nobody can afford them and what about those who overextended when interest rates were low How many are going to be on the end of a forced sale.

who says property is going up?  its been down or plateaued (depending on location) for a while now.

[yarposMember@yarposJoin Date: 2004Post Count: 247]

August 3, 2008 - 6:39 am

mmmmm your probably right,  the end is nigh, we probably wont survive

re your questions:

1. you can use paid for services to get this information,  but you may get some idea of sale prices via http://www.domain.com.au/public/apm/saleshistory/default.aspx?mode=research

2. conventional wisdom was that roughly 1/3 is owned, 1/3 under finance and 1/3 being rented.  I havent however seen a credible source of data to verify this.

3. I assume you mean borrowed more than 100% of value at time of purchase.  Cant help you there,  and dont know where you would get aggregate data.

[yarposMember@yarposJoin Date: 2004Post Count: 247]

August 3, 2008 - 1:30 am

well share your research with us scamp where do you get your numbers from?

within 500 meters of my house there are 3 empty houses … the are being developed into multi unit sites.   There are many reasons a place may be empty.

In another thread you said that sellers are moving out and renting there places while trying to sell,  now you say there are 900k empty houses….we are we all living ?  under a corrugated iron sheet in a creek bed somewhere?

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August 2, 2008 - 9:11 pm

BanjoSmyth wrote:

Another positive post from Scamp

You should definitely get another agent!!! Don't mess around – Especially because you aren't close by to the properties!

Cheers

Banjo Smyth

you would think he could stick to appropriate threads wouldnt you?  the guy asks a very specific question and he gets the scamp company line …..  its great to have opinions but obsession gets a bit weird .

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August 2, 2008 - 11:18 am

they arent doing much of anything (or at least anything that takes any effort) that you pay them for ,  why would you consider keeping them?   I'd be looking for recommendations and moving on.

[yarposMember@yarposJoin Date: 2004Post Count: 247]

August 2, 2008 - 7:08 am

emu1208 wrote:

I just sold one of my investment property within two months and made a good profit.  I have another property for rent and I thought of selling it at the end of the year. ( it will be 12 months then) I borrow 60% of the purchase price, with all the price falling I am safe to keep this property??? I need to wait 12 months so I wont pay too mush tax on capital gains.. any suggestions

really its up to you….does your fear of falling prices overide your apparent need to minimise tax?  Will you really get any sense of assurance from a bunch of mainly anonymous people on an internet forum?

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July 31, 2008 - 9:31 pm

No experience with NZ

I lived away in Europe for a while and it was the worst of both worlds.   Income in Oz (rent) was basically taxable at the witholding rate, mid range rate.   Property held in Oz was counted in my total "fortune" as they called it in my host country and I got taxed on that (thankfully paid by my employer).   I expect NZ will be a bit friendlier due to the close economic relationship.    Good luck with your move NZ is a beuatiful place ,  I could happily move there.

[yarposMember@yarposJoin Date: 2004Post Count: 247]

July 31, 2008 - 9:25 pm

Scamp wrote:

asdf : Like I explained already : Rents are heading down, not up. Houses can't sell….. sellers think.. oh my god I can't sell.. might as well rent it out while I try and sell… more rentals up at discounted prices… oh.. wait… rent is heading south. Quite easily predictable. You can ignore it, but that won't make it disappear.

and where do these sellers then live?   a % may be able to live with family, but many wont for a variety of reasons like wrong location, poor relationship, no family etc.  Setting aside immigration at 200k per year now.

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July 31, 2008 - 9:17 pm

Scamp wrote:

Interest rates won't fall…
It's a hoax, just like all the spruiker stuff the real estate agents post.

Even *IF* RBA lowers interest, the banks will keep rising them anyway, so the situation will only get worse if the RBA drops interest rates. Have a look in USA. 2% interest rates.. lol.. and we all know how much THAT helped them ?  ( hint : They are a third world country now… )

how on earth does an extreme case in the US have anything to do with an intrest rate adjustment in a much better managed economy?  taking .25 / .5  of a high interest rate somehow plunges us into US style chaos?  give me a break……you had to much caffeine or something?

US is a third world country now?   have you ever lived in a 3rd world country?   they have issues that may take a decade or more to work through but they are not a 3rd world country.    They are becoming less of a force to be sure.

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July 31, 2008 - 9:06 pm

there have been a few reports now that the RBA may start to consider the downside,  each lobby group raises the prospect as their area suffers…housing starts, retail sales etc.    It will probably happen but the reaction of the banks will be interesting when it does.

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July 30, 2008 - 8:59 pm

The only problem I had with evaporative cooling was initially my ignorance on how it works.  We were closing up the house as you would with aircon,  which was exactly wrong.  You need to crack open a few windows to maintain airflow and stop humidity rising.   Brands I dont know as we dont have it anymore.

The renos would add attractiveness or sale-ability to the house if well done.   Adding value?   hard to say,  depends on your place and your area.