That’s a pity Michael – I’ll be there still if anyone wants to meet up later

alwayscurious.

you’ll recognise me by the dummy in my mouth and the puzzled expression. Plus the fur.

Perhaps a nametag with your nicname would be good?

I have a penchant for books. I’ve gone on a spree this month – purchasing about $50 worth of books (from ebay, at least I got them 1/2 price!!)

So that’s my deal. And I like sushi. a bit. And a bit of curry takeaway once a fortnight or so.. erm.. ahem. and ..

I will justify it tooth and nail.

Originally posted by JoeCool:
Hi Steve,

I have just terminated a contract and I know from the bank that i cabn only borrow sround $220 000.
I live in Brisbane and these days I can’t even get one project for this price that would come with many problems, more then its worth let alone do what you suggest and do many reno project simul.
I wonder how…[Read more]

Terryw – I guess that’s why my broker jumped all over my innocent question and beat the hell out of it real quick. Like the rhino’s on “gods must be crazy” putting out the fire.

Anyway it was an innocent question – my intent is not to wrap at the moment, but we’ll see.

Thanks SteveSharyn – I got a dep schedule done on the new one – and the depreciation is pretty good.
However the older one might not be worth it as it is in my wife’s name (no income to reduce tax on).

I’ll consider it for the future though. Cheers
alwayscurious

Enough so I ALWAYS have some in my hand to give away.

That’s when I reckon it’ll hit home.

It’s not a pie, it’s a pipe, I reckon.

WE ARE GOING TO MAKE IT!

The shares sold and money deposited last night – 21K! Woo – 3K more than I thought.[thumbsup2]

I think I will go and blow the whole lot on hats [cap][buz2][cowboy2][grad][xmas][party]

We’ve budgeted that we can hold our properties at 18K and we have more now so that’s FANTASTIC.

We’ll be able to re-invest some of that…[Read more]

It seems like a good tactic.
Do you have the cash to do the deposit? and the purchase costs?

If you have to borrow the entire amount like I did, *use equity* then you are effectively borrowing 100% and more than likely it could be neg. geared.

CHeers
alwayscurious

Well done Sonja. you have made a choice for FAMILY FIRST and this is what you are investing for anyway.

Another opportunity for you is right around the corner.

I am impressed with the calibre of people on this forum – often times it’s not just about the money.[thumbsup2]

What’s Bump one week?

Is it on the 28th still?
I am going to try to make this one.

Just checked out a few stats for those who are interested>

Rosebury has 1300 people.

According to one site:
There are two groups – a) miners
b) unemployed / pension / retired.

Lots of people moving from within the state because of cheap housing

Two mines tin & zinc – one owned by Pasminco (under receivers, bought out by Zinifex)

Zinifex…[Read more]

Calvin@34.
I agree in that case Xcoll could be more restrictive. It does give the banks more security. It also is a tool to avoid taking out cash and putting 20% deposit, if it doesn’t suit your circumstance.

I think it’s the only thing that got me this far though. I only saved cash for 1 deposit – in my PPOR. I ‘used equity’ in a cross…[Read more]

Too fast for me aussie rogue! I was thinking the same thing – I’ve met many an agent who has a degree in BS. heheh.
In fact, it’s a prerequisite for a lot of things!

‘Fortune favours the brave’

When I broke a lease managed through a RE, I had to pay rent AND advertising until they found a new tenant.

I rang the PM every day though until he did!

True that banks do and will foreclose. It’s up to me to be proactive. If I get into trouble through being silly or over-stretching then I need to do something about it.

However – the counter argument is that banks will rather keep you as a paying customer and may give you a loan repayment holiday or other to avoid the cost & hassle of selling…[Read more]

We had the same thing.

Basically – the window glass holds a film of smoke also! – we washed all the windows, and the curtains (hand washed, carefully & line dried in the same way they hang.)

Once we’d vacuumed the house a few times, all the smell was gone. But it took a fair bit of effort.

In another situation, (smoke damage from fire, pong!!)…[Read more]

So neither of the two tactics are really better than the other – it just depends on where you are starting from?

IE – we started with not too much equity in our PPOR (about 60K equity on a 180K house)
we cross collaterliased for IP 1.

Then IP 2 – we went to purchase even though we had about 80K Equity in PPOR and 20K in IP1.

Then, when we…[Read more]

Oops sorry Terry – you told the same story I did, except shorter and more to the point. Sorry.

Wilko, I had the same problem.

I had to go gaurantor for my wife, and my wife for me, that’s two solicitors in seperate deals.

PM me and I will give you the names of Solicitors I used – they both charged $50 for the 20 minutes or 30 minutes they spent with us.

It’s a safety thing for the banks because in one instance an unscrupulous person got…[Read more]