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    L.A Aussie wrote:
    NEVER SELL, NEVER SELL, NEVER SELL, NEVER SELL.

    got it?

    use your existing equity to buy more.

    develop the land, sell a couple and keep one or two as cashflow positive IP's with nice depreciation deductions.

    Gee what great advice……lol Of course you could always look at putting your money into where ever you are going to maximise your return instead of blindly holding on to property just for the sake of it. Try reading some books on people who have actually MADE IT and you will see they very often sell and move there money around to maximise profit. Pretty narrow minded comment there LA….

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    From the HeraldSun-seems to be mostly low socio economics areas however there were also a few from Kew, Camberwell etc. Either way thats a fair bit-hate to think what its like when interest rates hit 10%!!!!

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    Geez the builder must have been an absolute einstien to go broke is this economy/property market lol Hate to imagine how he would have faired if things were slow lol

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    Meakin wrote:

    Hi,

    Hi, you really have a good thinking. It’s a different fun having your own house before getting married. I bought a home last year with the help of Real Cheap Estate and right now I don’t have any complains. They specialize in selling discount homes and land at affordable prices. Every home they sell can be purchased in cash or sometimes with finance!!! The balance is usually under $10,000. They also sell Real Estate Notes. Hope this will be helpful to you too. All the best!

    God whats with the sudden influx of spam on this site lately? Seems every second post someone is spruiking their wares :( How about some cheap Viagra?

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    kenkoh2000 wrote:
    Dear Milly,
    1. My email is [email protected]. My TEL/FAX is 08-95925108 and my Australia mobile is 0418758123.
    2. Please contact me to further discuss your present situation. We might be able to work out some options of mutual interests to ourselves in due course.
    3. Thank you. regards, Kenneth KOH

    1. Why
    2. Do you
    3. Write
    4. Like
    5. This???
    6.lol

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    francisl wrote:
    Therefore, rate will rise until people cannot spend more or recession hits home.

    Cheers,
    Francis

    I agree enrtirely-people will keep getting debt untila recession hits home-may well be another year or so before it hits?

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    daniellee wrote:
    Hi

    My aunt, who has been casually buying property for many years and has a few under her belt, asked me the other day if I had fixed my interest rates. I explained that the rates here are ending the end of its run after 11 raises, and would be pointless to do so. Would have been better off fixing it 3-4 yrs ago when rates were lower, but I was not in the property game yet.

    She looked at me with a 'Aren't you silly for not fixing your rates?' look.

    So, is that a sign of jittery?

    Cheers
    Daniel Lee 

    lol no its not jittery-its comments from someone who I dare say knows more than you. She has obviously lived through times of very high interest rates-have you? She has seen property prices come down-have you? She has lived through times where all and sundry have sworn that 'this is the last interest rate rise surely' only to have it go up again-have you? Interest rates are still historically very low-still a long way to go……

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    trakka wrote:
    i'm speaking mostly from extensive discussions on another forum, Somersoft, which I perceive has a greater proportion of advanced/established investors than this forum, and is generally much more active (ie much higher volume of posts). I've gotten to know the styles of various investors over there, and it's generally those who have limited holdings that are a bit jittery and talking of selling, plus the odd seasoned investor who's predicting property prices Armageddon and is cashing up to take advantage of the great buying conditions they're anticipating.

    But if the fundamentals of your investment were sound – in an area with solid demand, access to transport, jobs available etc – then the current "jitters" are just a hiccup.

    And what you have described is EXACLTY the reason we are heading for trouble -"it's generally those who have limited holdings that are a bit jittery and talking of selling". The vast majority of property investors out there today are people who have no idea about finance or the proprty market, they are all sheep who have jumped on the band wagon and will all jump off again when the herd starts to run the other way….

    I would hazard to say the minorty of people with property investments are liquid enough to hold on if things turn bad-its all the 'sheep' who will be on the edge that Im worried about. Good for me so I can buy in but for a lot of others……ouch…

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    I suppose its all pretty simple really-prices will continue to rise as long as people can afford it. SImple as that. If people can aford to pay another $500 a month in repayments they will, when it gets to a point through inflation, interest rates etc that they cant afford any more it will flatten out. And when itgets past that point they will sell. SO all we really need to decide is how much more debt can the general population sustain?

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    trakka wrote:
    What do you think the majority of the very successful investors are doing?

    (Hint: it aint selling.)

    What evidence do you have to support this 'hint'? Hopefully you are actually talking about investors who know more than what they have seen on telly over the last 5 years…….

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    Anrobel wrote:
    Thanks Scott No Mates – will have to, I'm not real popular at home at the mo 'cause i managed to misplace the folder with all of our reciepts in it! I will see what i can come up with otherwise i might have to chalk it up to lesson learnt!

    Whats the point of going to the trouble of finding receipts and doing a dodgy diary if the accountant has said you cant claim? Or is the only reason you cant claim becasue you dont have a diary?

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    Anrobel wrote:
    Hi Everyone
    Our accountant has just informed us that we can't claim a trip to Cairns from Perth, last year to inspect our rental property. The trip was for 5 days (I thought i read somewhere that you don't need to keep a diary for a trip of 5 days or less?) we hadn't seen the property for 3 years and it was in need of a fair bit of work so we though we had better have a look at it. We did take one day off to go diving but other than that we were checking out hardware stores, talking to tradies, seeing other rental agencies because we weren't happy with the service from ours etc. I was under the impression that if the purpose of the trip was to inspect the property and we took one day off for personal interests then we could claim four fifths of the expenses. Can anyone help with this one please???

    Gee I dunno-I would have thought a professionally qualified accountant would have a good idea. If in doubt why dont you query another accountant for a second opinion?

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    mathewc73 wrote:
    Okays Im from the uneducated school… However I continue to ask myself isnt there something we can all do to soften the blow of the recession?

    Think of the HIV ads and the skin cancer ads.  They aparently work.

    Can't the government create an ad campaign to help us?  Im not educated so I dont know the messages for the ad, but surely things like pay cash, not credit, share accom, take the train, etc, etc, etc.  It could help???

    Mat

    Like Ive said before people are stupid creatures who are driven by greed and continue to make the same mistakes over and over again..

    Regardless of what the government tell them as long as they think everything is cool they will keep spending-just look at the peope on this board, try to tell em things might start to slow up and you get laughed of the net

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    foundation wrote:
    xpine73 wrote:
    Getting fixed is a gamble against banks who have more expertise to predict the interest rate trend.

    And how well do the banks do?

    These predictions are from May 2007 when the RBA cash rate was 6.25%. Not a single one correctly predicted 6.75% just 6 months later. AMP and Commsec even believed rates would fall over the course of last year!!

    Cheers, F. [cowboy2]

    lol as always Foundation love your work!!! Its great to see someone who 'think's they know what they are talking about followed up by someone who 'knows' what they are talking about!! :)

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    Milly wrote:
    Yes condog, I was reading  the weekend courier mail the other day that 53% of Australians pay off their credit card within the interest free period (me and probably most of us on this forum are in this category)
    Same survey said only 13% paid only othe minimum off their monthy credit card bill. All the media hype of Australia's debt is media hype.  I'm not saying it isn't significant. but it is not as bad as it the media would have us believe.

    You would be surprised just how much debt there is out there…..wages havent increased but debt sure as hell has…..

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    condog wrote:
    Firstly if we have a recession economic interest rates will be low as an RBA tool to stimulate growth,
    .

    Yes but do you think this will solve the problem over night? It takes years for things to get bad and then years to fix things up again-look at Japan and the U.S, do you think that by dropping the rates instantly things are better? Im sure interest rates will go over 10%-there is just to much optimism out there (justread the majority of the posts in this forum) for people to slow down, they are going to have to be FORCED to reign in their spending, and about +10% will do it…

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    hbbehrendorff wrote:
    Every Generation makes the same mistakes as the last, This is human nature.

    Everything was fine and dandy back in 1928, nothing could go wrong, but in the following years the middle class was wiped out, along with everyones savings.

    Though the difference today is the Ratio of debt is many times higher and loans are not for businesses (Good Debt, Self Paying) but for new HSV's Jet Ski's and High Definition TV's (Consumer Debt)

    Along with all the the 107% Mortage loans, Honey Moon rates and other housing Trinkets there is another unforeseen undercurrent, Not only have houses doubled in the past few years but so has Credit Card debt and still people see a optimistic outlook.

    :Interest Rates won't just rise a few more times this year and then be 4% again.
    :Housing prices won't take a small dent and then continue to see 20% rises
    :Growth will not continue to be unprecedented
    :No matter how far you sweep debt under the carpet, It will not go away, the longer and greater it is allowed to grow the more dramatic the final consequence

    You can see the effects of debt build up over a long period of time in the US, They borrow 3 Billion Dollars a day to sustain there ecconomy. It won't be long before people realise they are not in a resession but a Depression, and will mark the end of the Dollar as the world currency and the collapse of the American Empire.

    I  agree with you totally-the amount of BLIND optimism out there is staggering and frightening!!!

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    dreaming wrote:
    It's not that people are more educated know, but information is more readily available thanks to the digital age.

    Yeah but how many people take any notice of it, instead wait for the 'news' to tell them after it has already happened….

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    ume wrote:
    education gives us options, the more educated u r, the more options u'll have. as opposed to ppl say 100 years ago, education for the middle or poor class was near impossible to obtain the level we have now. people are more educated now, our living standard is way better, general well being is better, life expectancy is higher…. so whats ur point?

    My point is that education is no barrier to financial ruin. People are largely driven by greed and emotion-how else can you explain people taking out mortgages they clearly cant afford based on the 'belief' or hope that their property will continue to apprciate when all the factors point to the opposite. People as a whole are imensley stupid creatures. They act like sheep, all pushing properties prices upwards at a rediculous rate, and then cry when interest rates go up that have been forced up in an effort to curb their out of control spending and debt levels.

    Yes you are right, eductaion generally is a good thing and does give options but IMHO it has no corelation to barriers against going bust..

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    ume wrote:

    when i said ppl are more educated now, i was referring to education as a whole not just on the property investing spectrum. e.g. how the education system for kids are better now, how a teenager now a days receive stimulants that ppl 60 years ago would take a life time to receive, new theory and knowledge to pass down.

    So whats your point? Education a rich person it does not make!! Plenty of broke and or middle class uni grads mate!! Als plenty of rich 'uneducated' tradies…..just becasue we know how to use computers doesnt make us any more savy than our parents. I would hazard to say the education our parents recieved was of a lot higher standard, if you werent up to scratch you would fail, where as these days if you are breathing you pass-uni is a joke…

    ume wrote:
    and i said government are more effective now to some degree. compared to previous times, especially with the technology we have in telecommunication etc, its easier and more effective to implement policies, lessons learnt from history, better knowledge and development into policy making all makes the government more effective than previous times. that said, i want to make it clear that the government overall are not effective, and i dont thi nk they are, but in comparison they're more proficient than previous eras

    The problem is generally people dont learn from history. Greed as it always has and always will will be the undoing of the economy. Business cycles go up and go down, always have and always will

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