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Viewing 8 posts - 1 through 8 (of 8 total)
  • Profile photo of abugslifeabugslife
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    @abugslife
    Join Date: 2003
    Post Count: 15
    June 14, 2005 - 3:55 am

    Hi Kay,

    Actually I enjoy reading about the market. I must admit though that the prospect of using that knowledge is part of what excites me so there was a little disappointment for me realising how much extra effort would be required to get something that works in the declining market. Of course I could just go short some REITs [biggrin].

    Bye the way – what do you think of this deal?

    http://www.mel.mcgees.com.au/ Property id 24593

    It is brand new and they claim a 10% return.
    (Finance is a little tricky for me going this high though as I am $200K off).

    Profile photo of abugslifeabugslife
    Participant
    @abugslife
    Join Date: 2003
    Post Count: 15
    June 11, 2005 - 2:17 am

    Hi Quiggles,

    I really do believe newspapers affect the market and is one of the reasons that the less knowledgable (mom & pop investors) have left the market. Of course you can find bargains in any market and to anaylse individual bargains there is all kind of software and more targeted research readily available. (I have been reading this site for a year and its been fun reading about all the people coming over here even though we too seem to be nearing the end of our boom). I guess my point is that if you aware the world is flat, and if you want to encourage foreign investment, then you should make some attempt at self promotion. I do hear there is lots of land down under.

    Well if you have read this far let me redirect the thread to an article I personally found fascinating as it captures some of what is going on here:

    http://www.fortune.com/fortune/investing/articles/0,15114,1061371,00.html

    Hi Nigel,
    I was thinking to wait 3-4 years as then we should be in the middle of the drop and buying then. Timing is tricky. The other option is to buy commercial as there is plenty of stuff returning > 7 %. Its a little trickier researching the commercial cycle as there seems to be less written about it.

    Profile photo of abugslifeabugslife
    Participant
    @abugslife
    Join Date: 2003
    Post Count: 15
    April 7, 2005 - 3:41 am

    Between stamp duty, land tax and where the housing market is heading I am starting to question my decision to buy a number of properties over the last couple of years.

    Well I am still thinking about what to do next….hmmm… usana direct marketing [biggrin]?

    Profile photo of abugslifeabugslife
    Participant
    @abugslife
    Join Date: 2003
    Post Count: 15
    December 13, 2004 - 12:42 am

    Hi Beck,

    I have been pretty happy with berwick ray white:

    [email protected] ph 9796 2666

    I live in the US and do all correspondence through email which is promptly attended too. If a repair is needed they send me 3 quotes and I am told their are no kickbacks [wink1]

    Bye the way – when I last visited Berwick was booming. Is this still true?

    Profile photo of abugslifeabugslife
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    @abugslife
    Join Date: 2003
    Post Count: 15
    February 14, 2004 - 3:57 am

    My line of credit here in the US is %3.75 [:)]
    What is tricky to play around with is the change in dollar if I use that money to purchase down under.

    With the rising dollar its easy as my rent just increases but my cost is fixed. If the dollar starts falling I let it approach the level I bought the house at and then refinance it down under.

    A falling dollar is trickier although it can be viewed as a buying opportunity when it gets low enough.

    Profile photo of abugslifeabugslife
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    @abugslife
    Join Date: 2003
    Post Count: 15
    December 21, 2003 - 6:10 am

    I must say that it was interesting to see that 22 people read this thread in under an hour. It looks like not everyone is Christmas shopping unless people are buying a house for their spouse [:O]

    PeterM does make a good point that my biggest risk is change of currency which offsets my good fortune of having low interest rates. it would be interesting to make a computer model of this to see how I might come out.

    Profile photo of abugslifeabugslife
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    @abugslife
    Join Date: 2003
    Post Count: 15
    December 21, 2003 - 5:51 am

    Thanks Kay [:D]

    Hi PeterM,
    I am an aussie living in the US and the interest rates are a little lower here. I got mine through http://www.etrade.com as a home equity load (with .25% discount since I have an account with them).

    Its fun buying remotely as everything looks so cheap in comaparison to San Francisco. Of course I can’t find anything with the 11second rule as I am not on the spot…

    Profile photo of abugslifeabugslife
    Participant
    @abugslife
    Join Date: 2003
    Post Count: 15
    December 19, 2003 - 4:32 am

    I must say I was impressed that I got 3 replies to my post! Quite a nice welcome – you look like a great set of people.

    mcollins / melbear: Australia vs US
    I mainly bought in Australia as the quality of house I bought was much better, when you take into account the dollar difference, than what I would get in California. Not a very good reason but I am just starting out[:)]

    By the way the variable interest rate on a line of credit over here is only 3.75%!

    Terryw – thx

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