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Billfromoz
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@billfromoz
Join Date: 2003
Post Count: 381
November 12, 2003 - 2:23 pm
G’day….
I don’t think our Parents did us any favours when they registered our Births.
Imagine how peaceful and tax free it would be if no bugger knew we existed.
Bill
Bill O’Mara
Real Estate,Mortgages,Share Market Strategies.
[email protected]
Billfromoz
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@billfromoz
Join Date: 2003
Post Count: 381
November 12, 2003 - 2:08 pm
G’day Richard…
You’re on… what odds are you offering?
We will have a .5% rise in rates in December!
Please advise asap.
Bill
Bill O’Mara
Real Estate,Mortgages,Share Market Strategies.
[email protected]
Billfromoz
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@billfromoz
Join Date: 2003
Post Count: 381
November 12, 2003 - 1:36 pm
G’day Chriso…
I have a brother Chris..have a look at my Surname.
How about you test the waters Chriso… that was your first post… give us all a querie, question, comment… I promise to give you some help… and the next thing you’ll be posting every day/night
Cheers… and I’m waiting for your comment/Question
Bill… while I’m still awake!
Bill O’Mara
Real Estate,Mortgages,Share Market Strategies.
[email protected]
Billfromoz
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@billfromoz
Join Date: 2003
Post Count: 381
November 12, 2003 - 1:24 pm
Gday Riffraff…
Okay, you have the floor… imaginary property and plenty of answers… Geez… your as mad as a two bob watch.
Why did I mention interest rates?
Do I hafta explain everything to ya?
Cause next month they are gunna rise another .5% Do I hafta tell ya everything? Geez I dunno!
What duz all this mean to you property barrons… simple… prices r gunna come down… cheapa next year for sure.
c ya Riffrafff
Bill O’Mara
Real Estate,Mortgages,Share Market Strategies.
[email protected]
Billfromoz
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@billfromoz
Join Date: 2003
Post Count: 381
November 12, 2003 - 12:54 pm
G’day…
Leasehold is for a given term…Canberra 99 years.
Despite the concerns it was put in place to stop Land Speculation. Tht meant that you had to commence building within a certain time frame.
If it was Freehold… you could do as you like.
You would need to check the term of the lease..example… parts of Canberra only have 10 years left… maybe rural or Commercial. Older suburbs may only have 20 years left of a 99 year lease.
Another example is the Soldiers Settlers Blocks… 1,000 acres issued after WW2… not freehold but Lease in perpetuity… meant restrictions…if you don’t “clear” the land you lose it… Greenies would have a field day today.
For what it’s worth… there is Freehold land in Canberra…. that strip of land dividing Northbourne Ave on your way into Canberra… now you know.
Cheers
Bill O’Mara
Real Estate,Mortgages,Share Market Strategies.
[email protected]
Billfromoz
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@billfromoz
Join Date: 2003
Post Count: 381
November 12, 2003 - 12:38 pm
G’day Jason…
You are a nice person.
As an Agent with 30 years experience…. one of my skills was to identify the “wannabee” purchasers from the “genuine” buyers if only to protect my clients .. the vendors. I recall one evening saying to the Vendor…”that guy is just like the barbers cat… all pi** and wind.
The owner said, ” but he’s been here for hours, of course he’s going to buy”. Sure enough… I get a call the next day with some lame excuse as to why he can’t proceed… I was not surprised.
I have known of “buyers” to offer $100 deposit on as many as 3 properties in the one weekend… that’s why I never valued a “holding deposit”
You are absolutely right… Agents passed the name around of the problem buyer. Nothing worse than telling the Vendor on Sat.”It’s Sold” and then the bad news Mon/Tues.
My wife would say “but the’re nice people”… my comment was….”yes, but when they buy/sell Real Estate they change”…and they do.
You are an exception… find an Agent that appreciates your integrity and you’ll have a hassle free purchase or sale.
I would do biz with you any day….
Cheers and hope you find a like minded Agent…
Bill
Bill O’Mara
Real Estate,Mortgages,Share Market Strategies.
[email protected]
Billfromoz
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@billfromoz
Join Date: 2003
Post Count: 381
November 11, 2003 - 4:03 pm
G’day Ksafik…
Not bad for your first post.
Personally I would wait..maybe for up to 18 months
after all the R/E Boom has been going for 6 years and probably about to take a breather, slide or fall in price.
While you are at home rent free why not take the opportunity to save as much as possible with the Bank that you are likely to Borrow from down the track. I would not buy today. Wait.
FHOG is available provided you live in it. Cosidering you are short of $$ today that is one more reason to consider that when you do invest,get the $7k and have your own home.
To help you save. Pay yourself first, buy a book..
“The Richest Man in Babylon”
Cheers
Bill O’Mara
Real Estate,Mortgages,Share Market Strategies.
[email protected]
Billfromoz
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@billfromoz
Join Date: 2003
Post Count: 381
November 11, 2003 - 3:51 pm
G’day Alexander…
An option to buy can be an excellent vehicle to control property with very little money.Great in a rising market.
Personally, I would see an opportunity to rent with an option to purchase two years down the track. Provided that the agreed Purchase Price was an average of 2 Independent Valuations.
The market could be down 10-20% by then.
Cheers
Bill O’Mara
Real Estate,Mortgages,Share Market Strategies.
[email protected]
Billfromoz
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@billfromoz
Join Date: 2003
Post Count: 381
November 11, 2003 - 3:27 pm
G’day Alf…
We are a pair of mugs and I reckon we’ve been set up here. Riffraff posted the question at 1:20pm, the others responded by 7:00pm. Westan puts in his two bobs worth, designed to confuse most of us…then went to bed.
So here we are talking about a property that doesn’t even exist while those that started it are all asleep.
I’m going to bed too.. c ya
Bill
Bill O’Mara
Real Estate,Mortgages,Share Market Strategies.
[email protected]
Billfromoz
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@billfromoz
Join Date: 2003
Post Count: 381
November 11, 2003 - 3:08 pm
G’day Fibejebe….
You could do one of the following:
(1) If they require the deposit I guess you simply lend it to them and get repaid as their equity increases with CG.
(2) If they already have the deposit(or most) then “park” what you can afford in their offset account to reduce the interest and monthly payments. Again, you could get it back as it becomes more affordable for them in time.
Why not “pool” family resources…Grandparents and others to “park” funds in this manner and then everyone does the same in turn for others in the family.
Cheers
Bill
Bill O’Mara
Real Estate,Mortgages,Share Market Strategies.
[email protected]
Billfromoz
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@billfromoz
Join Date: 2003
Post Count: 381
November 11, 2003 - 2:43 pm
G’day all you [:0)]’s
I am aware we have just had a.25% rate increase and don’t think that the .5% in December will be hypothetical for too long either.
You’re all stark raving mad. Surely the market is
not so bad that we have to discuss hypothetical properties. I didn’t think anyone would reply to you Riffraff… just goes to show how wrong I can be at times.
Westan…you’re confusing my mate Alf… me too for a bit. You are obviously talking about a P&I type loan at $100k and revalued the property, increased the loan to $180k…on a fully drawn P&I loan I might add… and then paid the extra $80k back into the loan (via offset account)
Alf knows that a LOC is the best way to go and he assumes you would realise this too. That’s why you’ve confused him.
Just thought I’d clear this hassle on the hypothetical Property up for you all. I mean, if it was a Bus Stop Shelter(BSS) I could understand.
I am really worried that Sue and Mel have also got involved. Alf, get to hell outa their before the moderators have the lot of you committed.
Riffraff…Just look at what you’ve started[!]
Now stop it…all of you!
Bill
Bill O’Mara
Real Estate,Mortgages,Share Market Strategies.
[email protected]
Billfromoz
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@billfromoz
Join Date: 2003
Post Count: 381
November 11, 2003 - 12:24 pm
G’day Positive…
That is unbelievable, as I didn’t even consider it in that light. I simply put myself in each of your shoes and felt that about 2% max would be a fair figure to you both.
I then figured that 80% of the 2% was absolutely fair and coincidence that it panned out at $6,000pa…$500 per month for as long as he needs you. The fact that it gives you 10.4% as you say… the coincidence is incredible.
Cheers
Bill
Bill O’Mara
Real Estate,Mortgages,Share Market Strategies.
[email protected]
Billfromoz
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@billfromoz
Join Date: 2003
Post Count: 381
November 11, 2003 - 12:10 pm
G’day Benny
Thanks Mate..but I’m just recording the promises.
World Vision Australia will contact the sponsors after I have completed the trip and they will receipt the funds. Tax deductible receipts.
Thanks very much Benny and you too Huey.
Cheers
Bill
Bill O’Mara
Real Estate,Mortgages,Share Market Strategies.
[email protected]
Billfromoz
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@billfromoz
Join Date: 2003
Post Count: 381
November 11, 2003 - 11:02 am
G’day Benny…
I was interested to see the “Inner Brisbane” figures. If you take a small sample March/June as an average at 3.85% vacancy rate and compare to the latest…September @ 4.2% that equates to a rise in Vacancy rates of 9% from previous quarters.
If that trend continues into the December quarter it will be 4.57% in December. I would only be concerned if/when it got to 6%.
Cheers
Bill
Bill O’Mara
Real Estate,Mortgages,Share Market Strategies.
[email protected]
Billfromoz
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@billfromoz
Join Date: 2003
Post Count: 381
November 11, 2003 - 10:02 am
G’day Positive…
If it is a good deal could you be a Co-Borrower and accept a Fee of $500 per month as consideration? Perhaps your client may be in a position to refinance in a couple of years at a total cost of $12,000. If not, let it go!
Cheers
Bill
Bill O’Mara
Real Estate,Mortgages,Share Market Strategies.
[email protected]
Billfromoz
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@billfromoz
Join Date: 2003
Post Count: 381
November 11, 2003 - 7:30 am
G’day Guys…
I think you may be confusing the words stated by Muppet and Melbear… I didn’t make any such comment that I recall…
Cheers
Bill
Bill O’Mara
Real Estate,Mortgages,Share Market Strategies.
[email protected]
Billfromoz
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@billfromoz
Join Date: 2003
Post Count: 381
November 10, 2003 - 11:51 pm
G’day/night Alf…
I understand what you meant… talk later mate.
“Don’t Fix”
Bill
Bill O’Mara
Real Estate,Mortgages,Share Market Strategies.
[email protected]
Billfromoz
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@billfromoz
Join Date: 2003
Post Count: 381
November 10, 2003 - 6:29 pm
G’day Dave…
3 properties…. Rockhampton
4 ^^^^^^^^ …..Ipswich
1 ^^^^^^^^ …..Sunshine Coast
Fair go Dave, need much more info
Bill
Bill O’Mara
Real Estate,Mortgages,Share Market Strategies.
[email protected]
Billfromoz
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@billfromoz
Join Date: 2003
Post Count: 381
November 10, 2003 - 3:25 pm
G’day Alf…
Master Salesman ?I guess we are all trying to sell something, at times just our opinions, viewpoint.
I can tell you this mate… I never felt like I was selling… looking for solutions yes.
Would hate to think my customers/clients ever felt
like they were being sold to.
Cheers talk soon
Bill
Bill O’Mara
Real Estate,Mortgages,Share Market Strategies.
[email protected]
Billfromoz
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@billfromoz
Join Date: 2003
Post Count: 381
November 10, 2003 - 2:37 pm
G’day Alf…
If you rent out your home and then rent another where’s the gain in doing that mate?
If you sold now and stayed cashed up for the buying opportunities in a year or two…then that may make sense. But pretty hard to pick tops and bottoms of the R/E Market.
I wouldn’t sell a Personal residence and buy in the same market today.
Cheers…. clarify No1 or have I misunderstood?
Bill
Bill O’Mara
Real Estate,Mortgages,Share Market Strategies.
[email protected]