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    devo76 wrote:
    I am 30 and only just starting to head down the investing road. 6 months ago i believed that if you bought a house it will double in value every 7 to 10 years. Now i know there are other drivers that control prices and none  are looking that great for the next few years. But if i was given the chance not to buy my IP 6 months ago i still think i would have as my goals are long term and im more concerned of its value in 10 to 20 years. My immediate plans are to pay my PPOR of completly in the next year and also pay about $50,000 of my IP in the following year thus making it cash flow neutral and not a burden on my personal cash flow.My job is very secure and i may have kids in say 3 to 4 years.If the above plan happens a bust will not effect me greatly and i should be in a position to snap up a bargain if one presents itself. I considered jumping in now to buy another property but i feel reducing debt at the moment would be a smarter move for me.
    I have no other debt like store cards,credit cards or car loans.
    I owe $100,000 on my PPOR and $300,000 on my IP at the moment

    Geeeeezus how much are you earning if you plan to pay off your $100k debt on you PPOR in ONE YEAR??? You must be grossing nearly $200k?

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    Hutch wrote:
    t4 EVER
    What the?
    Yes they are great Uni's but dont forget that Victoria Uni (One good Uni) in Footscray Park, Footscray Nicholson, Melton, St Albans, Sunshine, Werribee etc..

    You gotta be kidding me-Ive never been to the other uni's but god help our kids if they are all as incompetant and unprofessionally run as V.U.T is!!!!!! That place is an absolute joke-from tutors/lecturors not having any material planned for the first few weeks and thus finishing the lectures after 25 mins and or sending everyone out to the bookshop or caf to waste time becasue they wernt obviously prepared, leaving one hour tutes after half an hour, conducting 2 hour lectures by just reading notes straight out word for word, teachers with such a poor grasp of english that they cant be understood, tutorials where the class is told to just do questions out of the book while the tutor puts his feet up and reads the paper….I could go on and on and on…….

    That being said I think anyone who actually manages to graduate from that place would be of a higher calibre than the other uni's as the poor suckers have basically had to self teach themselves through the entire course…..

    You have Melb Uni, R.M.I.T, V.U.T and Swinbourne all in the C.B.D so I cant see the campus's really being an issue. And even then I garauntee it would be faster to get to Caufield from the west than from say Glen Waverly

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    Im still trying to work out why you thought you were 'special' and exepmt from paying what you legally agreed to in writting that you would have to?

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    Perhaps that new fangdangled invention called sunglasses could help?lol

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    What degree are you doing that will cost $100k??????????????? Medicine?

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    THEHEATH wrote:
      So I should expand. Obviously I wasn't bagging the west. I was merely pointing out some facts, the most crucial of which is that you can get to the city in 15-20 mins. Living in Williamstown and travelling over the West Gate daily I know this is about how long it takes me to get to the CBD so there is no way in hell you are going to get there in 15-20 from truganina.

    No probs-just depends on how you like to quote things-Im sick of the amount of people who used to try to tell me Glen Waverley was only half an hour out of the CBD-the only time I EVER found this to be true was at 6am on a Sunday morning lol Why anyone would want to live even further out in places like Cranbourne and Narrewarren is beyond me-it must take them at least 2 hours to get into the C.B.D, yet say to these same people 'have you looked at a nice town like Bacchus MARSH' AND THEY ALL REPLY 'MY GOD HOW FAR AWAY FROMTHE CITY IS THAT!!!!!' still makes me laugh……..

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    WHy do you say dont use auctions? I have been to many an auction where either ego or emotion has resulted in massive over pricing….

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    wealth4life.com wrote:
    Hey Devo76 or should i say … no not at the moment,

    Any way you grubby disgusting little man or who ever you are CRAP on you … why are you on this site attacking people for achieving their goals … I/we have been investing for over 25 years how about you big boy or are you a dreamer still living with mummy … go away we don't need people like you here and if you want the challenge I can prove my assets but lets have a wager first if you're man enough …

    D

    lol wow lesson to be learnt here-when in internet land all standing around beating your internet chests about who has got the biggest ……portfolio…… do not dare doubt anyones answer hahaahha short fuse anyone? I always find internet fights amusing-its like arguing with the tooth fairy

    Good going Wealth-sure is impressive!! SO how about giving us all a run down on how you went about achieving this-a blow by blow or mort enept property by property detail?

    BTW I have more than you-do I win?

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    L.A Aussie wrote:
    . If I have a million tied up in property I can sleep like a baby. Why?
    Because I know that my properties are totally insured, and they will be there in the morning and still worth what they were last night. I have total control over the investment.

    So you think all the people with super in the event of a stock market 'crash' arnt going to try to offload some property to make up for their massive losses? Dont youthink this would also put downward pressure on that 'totally secured' property investment?

    Look at it this way-you are a 50-65 year old who has enjoyed the booming property market and as a result of the times have around 2-5 properties. You also have a significant super fund which due to the 'crash' is now worthless. What would you do? Sell a property? Maybe sell 2? Wouldnt everyone else also start to do this in a pnaick that their life savings has just been slashed? I could imagine an element of panick would set in-people would readily drop prices, your 'secure' investment is suddenly also now worth less….?

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    foundation wrote:
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    So those of us with 'thick skulls' can understand can you please explain to me how with two incomes you are unable to save up a deposit? Where are you looking to buy? How much deposit do you want/need? Sooooo what you are saying is that you are complaining you cant afford a $630k house? Im guessing you and your partner would be on around $45k? so $70 a year by your magical 7 gets you $630k??

    Typo? Matho?

    $70k x 7 = $490k = $721pw Interest @ 7.65%

    A couple on $70k per year would surely only be looking to take a loan of $210k to $250k max?

    Yep typo-in my original post I guestimate dthey were on $45k so = $90k, then using the 7 times rule came up with $630. Im not say its not hard to save a deposit but the opportunity is sure there-like I said a lot of people stay at home now till their mid to late 20's. If they are unable to save a deposit in a situation where many still are not paying board or food bills etc then they have no one to blame but themsleves. As to other complaining perhaps they need to look at where they are wanting to buy-forget inner city-hardley anyone can afford there anyway, again most of the 'oldies' bought in the burbs as that what they could afford. Still plenty of brand new 3 bedders in the burbs for under $350k, on a 10% deposit between 2 people thats only $17.5k-chicken feed….

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    deadcat wrote:
    Tyson, I am doing exactly that.

    My wife and I have a strict budget. We have a growing share portfolio, and we add extra to our savings account each week.

    I understand hard work is needed to save a deposit, but some posters on this forum really need to get it through their thick skulls that it is bloody hard to buy a house at the moment, and it's a hell of a lot harder than it was when the baby boomers were young (I would rather buy a house that is 2x my income at 17% rates, than the current conditions of 7x income at 8%).

    So those of us with 'thick skulls' can understand can you please explain to me how with two incomes you are unable to save up a deposit? Where are you looking to buy? How much deposit do you want/need? Sooooo what you are saying is that you are complaining you cant afford a $630k house? Im guessing you and your partner would be on around $45k? so $70 a year by your magical 7 gets you $630k??

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    deadcat wrote:
    You must be very out of touch. Anyone with a job in the city certainly wouldn't be driving to work, or they would go broke (seen parking costs lately?).

    Plenty of GenY people (myself included), moved out of home at 18. What do you say to us?

     

    lol sorry last time I checked not everyone worked inthe city?………what was that you were saying about being 'very out of touch'? And seeing that the whole world works int he city I suppose they can save even more money by not having to pay wear and tear on the car huh..what do you say to that?

    As for people moving out of home when they turn 18….well why would you when you could stay at home for a few years and save a deposit? Unless of course you got booted out and that is more a delima of circumstance rather than a generational problem

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    Gen y are also living at home with the folks until their mid to late 20's also. If they cant save any money when all their expenditure normally amounts to is petrol for getting to and from work then they can cry me a river!!!!

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    THEHEATH wrote:
      Ocean? City in view? hahaa. Yeah ok, so there's "werribee beach" lol and the city can be seen from afar because there is nothing out there to spoil your view! But I'm just being a bitch, the real clanger in here is that you said it's only 15.20 mins uninterrupted on the on the highway-true may it be, how long do you think it will take you during peak hour when people are trying to get to work?? The traffic banks back and you're looking at a 45 minute trip in most cases.

    As oposed to anywhere else that is built on the bay? lol such a typical eastern suburb tosser comment. Thats o.k though becuase while all you turkeys have been paying through the nose to live in a 3 bedder an hour out of the cbd I have been buying up close to the city in the west and have already seem my wealth go through the roof-its only common sense that people with a budget of say $400-$500k are guna look at inner west compared to outer east and buy inner west and drive it up even more. You just keep on enjoying your south eastern car park :)

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    Interesting-I was recently in NZ and there was talk that due to large oil exports from a big new oil rig in the south of the north island they think the NZ dollar could be double the USD…interesting times ahead…

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    BTW how can you call yourself a developer f you havent developed anything? Also given your expertise in the area of statistics what is your take on the current level of debt to equity ratio we have and where do you see it heading?

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    [

    barney2803 wrote:
    and i am certain that some teachers in the past have been a little dodgy… hence some of you got through school!!!!!

    Now now play nice, wouldnt want to be labled a bully again now would we….. ;)

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    RobL wrote:
    Absolutely agree .. a bully-free forum .. and also agree about the professions … I for one – absolutey respect those developers I know … the photos are just wonderful .. be nice folks :-)
    DraconisV wrote:
    This is bully-free forum. Nuf said.

    Guys I realise Barney Jones may have over steped the mark by calling you all idiots and saying you expect everything for free and that you dont have any brains but I will play devils advocate and suggest you refrain from calling him a bully until he has replied :)

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    devo76 wrote:
    Yes there might be a down turn but do you plan on selling during that time. If you hold a property for 20 years you may see a couple of downturns but you may also see a couple of booms.Only sell during a boom. Never sell during a slump.

    If only it were that simple………

    The reason for booms is everyone is making money and buying up, in the slumps Im sure all the people selling are selling because they HAVE to, not becasue they like taking a hit. Of course if you are in a position that alows you to be able to cover double your current repayments due to increases in interest rates then you wont have anything to worry about will you…… ;)

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    One may be tempted to ask the motives of using mentioning faith-Barney do you really 'believe' god spoke to Steve and gave him all these 'ideas'?

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