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bigben
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@bigben
Join Date: 2003
Post Count: 62
March 26, 2004 - 6:36 am
Hi Yack,
I used to have a boss who subscribed and then left the company so for the next 12 months i got free API mag[strum][strum].
Now i make sure to buy a copy whenever i think about it as ito am inspired by stories of success and my favourite section is always keeping track of median property values as it is a good guide of how prices are travelling and quite accurate i have found especially in the areas that i invest!
Ok by[whistle] for now [whistle][whistle]
Sooner or later the man who wins is the man who thinks he can
bigben
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@bigben
Join Date: 2003
Post Count: 62
March 24, 2004 - 3:26 am
Well,
First IP purchased 1998 for $78k rented for $145pw Had to spend approx 2 weekends and $2k to get that rent.2004 value $230k rent $180.
Second IP Purchased 2001 for $130k rented for $160pw. Spent no money at all.2004 Value $300k.
Third IP Purchased 2002 for $87k rented for $160pw.Spent 4 weekends and $2k to get that rent.
2004 value $190k curent rent $170pw
Forth property was PPOR for $160k in 2003. Spend every weekend doing stuff like new garage and stuff that keeps me busy….I have big plans for the place but alas …no money[glum].
2004 value $290k[party][party]
Sooner or later the man who wins is the man who thinks he can
bigben
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@bigben
Join Date: 2003
Post Count: 62
March 17, 2004 - 11:43 pm
Gday,
[suave3][cigar][whistle]
All cool,Holy %#@&,Not My Problem….hehehe
Sooner or later the man who wins is the man who thinks he can
bigben
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@bigben
Join Date: 2003
Post Count: 62
March 17, 2004 - 6:39 am
Ahh Mc Bain,
Time to die SUCKERS[satan][satan][weird]
Dont Be scared[cigar][cigar]
Sooner or later the man who wins is the man who thinks he can
bigben
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@bigben
Join Date: 2003
Post Count: 62
March 12, 2004 - 3:36 am
Hi Celivia,
Even if the crack is structural you may be able to negotiate the price down a bit and rectify it by using a builder to underpin the footings.
Quickly run you through the process
Expose the footings in the crack location.
Dig sections out under the footing say 600mm along footing.
Pour concrete under the footing and fill right up to footing for extra support.
I have done this a few times and it has worked every time!!
Make sure that you get an engineer to work out how far along the footing to go and draw up a plan of what is required to give to the builder(unless you are handy with a shovel and a concrete mixer.
All up it generally cost me around $6-7k
Hope this helps.
bigben
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@bigben
Join Date: 2003
Post Count: 62
March 9, 2004 - 6:54 am
Lawrence,
Just to let you know all my prperties are over 30years old some are over 80 year old. I have found that once a house reaches 30years old the maitenance seems to fall behind and renters do not seem to care anymore if things are not like they were as new.Ie cracked tiles ,window that wont shut all the way etc. Seems that they say ahhh well she is a nice old home… Buti must say that i can make a lot more from renovating a 80yo home that renovating a newer home as old homes definately hold more appeal.
As for costs it really depends on what sort of condition you want it to be in…Go for the slightly dented look and you will have much fewer calouts that if you go for a pristine property. Generally wiring can last up to 40 years and pipes for water can last the same in theory. Different parts of country have different water……Queensland water must have some drugs in it thats for sure….HEHEHEHE nah i love the sunny state!!
bigben
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@bigben
Join Date: 2003
Post Count: 62
March 9, 2004 - 6:44 am
Gday,
Well i am only a young fella but i can se some flaws in the argument that intrest rates will rise to 15%or over. If this were to hapen how do the investors react to a rate rise?? I know increase rents….well with rents being at such high levels then surely the gov’t will not allow this to increase rents to crazy $$ so therefore they will try to keep a hold on intrest rate rises…. Am i wrong? Is it possible that prices on property can drop without intrest rate rises?
Please offer some thoughts[8]
bigben
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@bigben
Join Date: 2003
Post Count: 62
March 9, 2004 - 1:13 am
Apparently you are Simon Macks- you work for a mortgage broking firm and live in the Newcastle area. Hope this helps…..[][][][:p]
bigben
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@bigben
Join Date: 2003
Post Count: 62
March 9, 2004 - 1:05 am
Hi All,
Good to see some differing opinions comming out. I have to say that i am not a +CF investor and therefore will not agree to the theory that lawrence is pushing for two reasons .
1, Capital gains of 7% on $200,000= $14,000
Capital gains on $30,000 rural = $0
Income losses from neutral geared property per annum
$0
Income gains from +CF rural area per annum say $2,500 Ie it takes 6 years to make same gain as 1 year.
Take into consideration that i am getting compound growth on the $14,000PA and i must say that you will find it very hard to catch up.
2/ I have a trade in carpentry and therefore am able to buy then renovate to increase equity and i believe that i could make greater gains buy buying renovators in a metro town than in a small town as you have stated that these peoplke cannot afford to pay the high rent i would like to get after spending money on the renovation.
Happy to hear your replies!
“Sooner or later the man who wins is the man who thinks he can”
bigben
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@bigben
Join Date: 2003
Post Count: 62
March 3, 2004 - 1:35 am
Hey Aussie,
Time for a second shot at the title:-
Ok guy opens wardrobe to discover……bloodsoaked jacket just your standard jacket.Looks like he has been involved in foull play and guy opening wardrobe remembers that he heard about a viscious murder last night in the same street and realizes that the guys house that he is doing pest inspection on is actually themurderers house….WHIP SPLAT Bang >>>DEAD!!![]
bigben
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@bigben
Join Date: 2003
Post Count: 62
March 2, 2004 - 3:53 am
Hi All,
10 minutes to read this i had better have a shot at the title.
Well i think that the man that kills him is an outlaw biker and he is rough as they come…you know the type doesn’t even wash his hands before dinner(hehe), well when the victim looks in the cupboard he sees a TuTu and this biker lives by himself and now the the biker has been sprung as being a nancy boy he has to kill the feller othewise he will tell his mates that the biker is a Nancy Boy!!
Wooo Hooo that is the answer isn’t it!!!
bigben
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@bigben
Join Date: 2003
Post Count: 62
March 1, 2004 - 6:43 am
Hi Inna,
By the way if you want to sell a property for $100,000 under market value i will be more than happy to get rid of it for you ……[:X]
bigben
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@bigben
Join Date: 2003
Post Count: 62
February 26, 2004 - 3:01 am
Hi Chan,
Well the only reason i can think of is that the guy was her sisters partner.Therefore get the sister out of the way and bang you have yourself a new man….Simple really!!!
I suppose this means i am crazy so HaAh aH zzzIIIIccKKk Grrrrrr rrrUUTTRR.
bigben
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@bigben
Join Date: 2003
Post Count: 62
February 26, 2004 - 1:03 am
Gday,
Well as Mortgage Hunter said i believe that in Newcastlethere are still some hot sites:
1/ Tighes Hill-Suburb is still seen as working class and it was apparently really bad for drugs and the like but now all the locals say how fantastic it is and others still see it 20 years ago. It will continue to grow!
2/ Carrington- as Mortgage said close to city but it does have heavy industry all over so it is not my No1 Pick
3/If you want to gamble then Islington as it still has prostitutes and i think that it is the last place that they can go so maybe they will be there for a bit longer before eventually it will be cleaned up cause you cannot have $3-400k houses with hookers out the front[]
I do believe that other areas in Newcastle will also continue to grow but i just think that the 3 mentoned have more growth potential.
There i have said all i need to say
WHAT A GREAT IDEA FOR A THREAD
bigben
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@bigben
Join Date: 2003
Post Count: 62
February 24, 2004 - 2:09 am
Hi All,
Thanks heaps for the posts it makes me feel more confident of my decision!
Well bron i am planning on getting a round the world ticket and going everywhere if i can but do it on the cheap so that i can hopefully stay away for 12 months…..yeah that would be cool!
Just became single after 4 years so maybe now is the time to go ….Meet some backpackers and all that jazz[]
bigben
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@bigben
Join Date: 2003
Post Count: 62
February 23, 2004 - 7:37 am
Yackadoo,
So many ways to make a million bucks it cant be that hard can it?? Well i am with you on the buy and hold if possible but of course sometimes you have to cut your losses but i think that if i spend time getting to know the market before i buy then i cant go to wrong can i? Haven’t had to sell and bad ones yet. Although i think i could have bought a chook shed 3 years ago and i would have made a hansome profit by now so that doesn’t mean much[]
bigben
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@bigben
Join Date: 2003
Post Count: 62
February 23, 2004 - 4:44 am
Hi Judi and yack,
I have made up my mind to go travelling next year anyhow but i was just wondering who else has been in similar circumstance.
Judi i already have some properties that are doing well so i am confident that they will continue to improve.
It seems that as Yackadoo said that you really can only get life experience from travelling and seeing other cultures.
My propertys will hopefully be here when i return!![?]
bigben
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@bigben
Join Date: 2003
Post Count: 62
February 19, 2004 - 7:13 am
Hi Chan,
That is fine i am glad you are happy with the purchase. My spotters fee is going up shortly so that will hit a bit hard…..oh ..woops was i not supposed to let on that you paid me ???? oh well i have typed it now so i guess everybody will know….hehehe secret mens business![:p]
bigben
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@bigben
Join Date: 2003
Post Count: 62
February 18, 2004 - 2:41 am
Hi Ronulas,
Well this is wher you have me beaten see i have no kids. Im only 25 though so maybe down the track i might decide to bring another mini me into the world then i am sure to feel the drain on the funds.
As you guys said you need to invest whatever you can afford and i bet that you are better off than others who did not invest in a $35000 house when you did so as said you will have to get there a bit slower but in the end with compound growth you will get there faster than someone who has not taken a shot(to use you litle comment)
My girlfriend used to live in Sale and she said it was very nice so i am sure that it will continue to grow so hold onto it as there is also a RAAF base close by so thats always good!!!
i suppose i had better invest like crazy before i have kids then!!!!
Sooner or later the man who wins is the man wo thinks he can!
bigben
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@bigben
Join Date: 2003
Post Count: 62
February 18, 2004 - 12:54 am
Hi Mini,
Well it seems that the growth that has been achieved has been quite good for a rural area and that is great. I am only to happy when other make money cause i rekon that there is enough out there for all of us and then some!
Well i have been purchasing properties that are basically neutral geared ie cost me $0.Maybe only the shortfall for rates every now and then. Out of 4 properties they probably cost me about $1500 per year. These properties have all doubled within 2 years and now i have equity coming out of my you know what however i believe that i am waiting for to get a chance to buy and hold some beachfront property if possible as i feel confident in its constant rise in value. I will also try and branch out and maybe buy a few rural properties to mix it up a bit but for the meantime i am just happy to renovate my PPOR and sit tight. As i said before $2000 a year is nice but $100,000 is better……
Benny[8D]