Forum Replies Created
Rich, Congrats on the job. Someone told me the other day that 3.7% of people in the Brisbane CBD make $100K and above. Pretty small proportion of the population in the City. Hard to say what a fair thing is though to survive on. The old saying is that “big ships need big sails” rings true. Mate of mine in Townsville making $120K package but has nothing much to show for it. No passive income but has great lifestyle. Balancing act I guess. Personally, I am making almost double the money I was doing the same job in country Qld and not that much further advanced with standard of living. Now spend money on train ticket and commute 20 mins on the train instead of 5 mins in the car. Houses 4 times the price with same or less comfort and more to tempt you in the City for impulsive spending (restaurants, coffees, and football matches). But the City is where work is for us and the lifestyle with all of these add-ons are superb.
I WORK in the recruitment industry as an Executive headhunter sourcing Accountants and Financial bods. Ange is working in the University system in faculty administration.
Both have enjoyable jobs but are motivated by the 4 months we had of in 2000/2001 travelling in Europe.
Have been caught a little bit with the negative gearing hype from one angle. My DSR is almost in the difficult area according to the Bank. Therefore to go on and add to my bottom line and afford more properties is not realistic in the very short term. My spending power is finite if I proceed with -ve gearing. By the same token my equity through capital growth is above $300k is the last 3 years max. In nett salary terms I go to work for nearly 8 years to achieve the same result.
One of the 0-130 bits of information that struck a chord with us was that if you are seeking Capital Gain, then the future value of the dirt or land in the property purchase is paramount. Whereas if +ve cashflow is the goal, then relationships and rentability are the objective.
Negative gearing is not dead but 0-130 helps to clarify and re-focus our energy toward our original goal. That is to retire earlier than 65 with an income stream. Upon reflection whilst the cap gains have been great, this is moving away from our original objective-maybe carried away with the hype of living in a capital city and watching the cap growth around us hey!
Checked ourbrisbane.com and it says that there is a property expo in april 2004. sponsored by courier mail newspaper.
ourbrisbane.com is website
Mel,
How do I get in touch with you to discuss mortgage broker matters and our financial situation. Feel like current bank is becoming too stifling as we try and go forward with more IPs.
Ange & Dougall.
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Howdy [
]Great to see more new folk pouring in – all from IT! I’m a mortgage broker and novice property/share investor from Brisbane. Love this site, look forward to more posts from you all!
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MelYes Tara,
The Toowoomba area interests me. Would be grateful to receive any information including BA from Toowoomba.
Thanks.
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They are around at 10% yield, even in Brisbane
I have one I am looking at now.
In the outer areas, I have just heard of a buyers Advocate
locating positively geared properties around
the Toowoomba area if you are interested you
can email me and I will pass on his details.
Tara.We are keen
and
Thanks.
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Hey all,
I am writing to see what interest there is in arranging a Brisbane get together for Propertyinvesting.com people. It would be an evening probably in mid-late September. Details will follow but I wanted to first to see if there was a desire for people to meet each other in person. If you are interested please email me at [email protected] with your details and I will get back to you.Look forward to hearing from you.
Enjoy
AD [:0)]
(Andrew)“Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired, and success achieved.”
mate,
where is this 11 second guide people are taling about here.
cheers.
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i have been to places and on the net… i have a hard time to find places that match 11 second guide,,,,, is the property market over heated or a i lookin in the wrong places???Try this…..
Looks to be a German site but in English and pop stats for Oceania including all cities over 20000 inhabitants by state in Australia. Census figures included from 2001 by the looks. Good luck and thanks.
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Where can l find information on the net about towns and their populations?Yeah, borrowed on basis of equity, admittedly built up in low value regional city property ($112,500 value).
In retrospect my question a little misleading as figures include my owner occupied house ($380K).
Good luck.
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Hi, wish i was you ,i’m trying to figure out how to work out my 1st IP wich has been negative since day 1 , rent not paying costs, did you borrow on equity?%100, or do you have deposit? i would appreciate a reply as you can see we are new to this.Thank you very much mate. I read your article titled “No Money Down Strategies-What the Banks really think”. Very interesting.
I will eagerly await the Oct/Nov edition of API.
Thanks again.
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Hi Ange & DougWelcome to the forum.
If serviceability is an issue to rental yield is your answer. If properties are financed at 80% then you need a yield in excess of 8.8% for the property not to affect your borrowing capacity. If financed at 100% then yield needs to be over 11% (pretty hard but doable).
I have an article being published in Oct/Nov Australian Property Investor magazine titled “Unlimited Finance” which should answer most of your questions about borrowing capacity.
Cheers
Stu
Property & Finance News
at http://www.prosolution.com.au
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