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From my understanding, it goes something like this….
In whos name is on the loan papers.
Usually you borrow the money and gift it to the trust.This is why trusts mean nothing to the banks.They can claim everything,regardless of trusts or companies titles.
So your answer is the people who loan you the cash own the “goods”.
bruham.G’day W.C.,
I think I better call you Dematio.
Thanks for your comment. Yes, all those suburbs values are falling. Very slowly.
I’m now in no hurry to buy. But I’m still keen on Quakers Hill.
The only thing that might be a draw back is the sewerage treatment works.
On hot summers nights that aroma permeates far and wide.
So that’s the only worry of this suburb.bruham.
When I first started buying property, this broker said what the hell do you hope to achieve, buying willy nilly all over the place?
Buy the best property that you can afford, improve on it, then sell the thing. Then start again.
It took me two years to use his system. Two years of wasted time.
He knew more than I’ll ever know.
That’s why I now buy only above average properties.Dazzling,
I sympathize with your cross collateralisation.
It took me years to climb out of that hole.
The problem is that the banks fight you all the way to keep you in the hole. Right up to your neck.Perhaps you should have a chat to LOANS APPROVED P/L. ED NIXON.He’s an expert on un-cross collateralisation. Email [email protected]
Phone 1300 657 132.In the beginning I used the internet and searched all over Aust.for the RIGHT property.
Country towns that I had never heard of.Couldn’t see too much that jumped out at me.When you see everyone’s achievements in this post it shows what a dumb bastard I am.
They stand out like monuments.Who said work smarter, not work harder?
Well “we”- this website- certainly are definitely all trying like hell to achieve this aim.
Bless you all.
Well DON’T just sit there. THINK!!!bruham.[chill]
G’day Dazzling,
A few years ago I sold all my properties. The newspapers were telling anyone who would read their articles that the doom and gloom was coming.
Any minute now, it would be upon us.Because people believe what they read. It must be right!
So anticipating the crunch, I sold the lot.On the slow down I bought at North Curl Curl, on the headland. A dual occ.
Kept as is for three years. bulldozed them, built two beautiful dual occs.Bought for six hundred and ninety K. Paid six hundred and fifty K for the housing. Today valued at two point three-five million dollars.
Millionaire in three years.Boom boom!!!Dazzling how’s your head trying to keep up with all your properties?
Four properties is a breeze.
I only buy above average properties.
I’m looking in Sydney’s western suburbs for a above average property.Over here “westies” is a derogatory term.
Wonder if that means Perth as well?It happens to be another dual occ. This one is in a security complex in a gated commmunity.
This keeps away the riff raff.I would look in Perth, but those BLOODY flys.
The great Australian salute. Every two BLOODY
minutes.
Can’t think of anything else but keeping those BLOODY flys out of your face.bruham.
Yes, I’m about to hurt their feelings(at lease try to!) by making an offer.
I’ve been searching in Melbourne. But decided to switch the search to the western suburbs of Sydney.bruham.
G’day all,
A few years back I didn’t gear enough. At the time it felt safe.
Just investing into one property at a time.
Slow but shaw.
Now I realize that I was too cautious. I felt that this was a major error on my part.
I had the equity, some cash doing nothing, but I decided to be cautious.
My mistake.
By jumping in then, my wealth would be double to what it is now.
So I’m going for broke.
I’m searching out in the Quakers Hills district.
The yield in this area is approx.4%.
Which supprised me. I had expected the yield to be lower.bruham.
gmh454,
I’ve been looking just below the hills area.
I’m after a whole duplex.Value of approx. $600 – 650k.
My chosen area is Quakers Hill.
Have you any news on this suburb?
Location seems right. Train, schools. And at last,a decent new road system. Not that far to Westfields shopping at Blacktown.
Then again, not to close, either.bruham.
Adam,
Most of what you mention are all good ways of searching for the right investment property.You would have to be very careful asking a friend, unless that friend owns property in the area that you are searching.
The other option is to pay for your information from the likes of RP.Data or Residex.
Or you could have a professinal do the hard yards for you. Like GPS Network.
Just a thought.
bruham.[specool]I knew it wasn’t just my imagination playing tricks. Queensland property prices are coming down.
Domain website keeps me in touch with areas of Qld and there has been price falls.The next question is, will falling prices spread to smaller towns around Qld and NSW?
I just knew that three bedroom house in Broken Hill at $12,000 was over priced. They were having a go at me!!
That real estate agent was so nice to me!!!!
bruham.[withstupid]
Shock horror, I see a bit of me in all of them.
Looking interstate right at this moment.
Big Aussie Home loans has put the wind up me for buying in Sydney.
Yesterday made an offer for a full duplex in the (Sydney) suburbs.
Might need to change my mind on that one.bruham.
Dazzling,
It’s called rewarding yourself. When you do well in your working and investing lifes,you should give you’re self a reward.
This gives you the motivation to continue along “the” wealth building path.
Doing a nice renovation gives your well being a huge boost.Right to the sky.You mentioned a conservatory.
Remember to have the walls DOUBLE GLAZED.Special treated glass for the roof.
The roof is a pain in the B..,Always filthy. No matter how many times you clean the damn thing the next day you have too do it all over again.
Bloody rain and due are the problems.Conservatorys are great.We use ours for all our meals. Plus a top place for reading in.
Be generous with yourselves, it’s your reward.bruham.
Why bother to do your research and learn about location,location,location etc. Plus take responsibility for your own decisions,so on and so forth. When you can just phone people like GPSNetwork?
Save yourself all that travelling time running around Australia. When you could talk to people simular to Roy H. ???
I’ve haven’t done any business with Roy H.
It does seem like a lazy way of property investing.Possibly a more successful easy way of doing your investing.Less mistakes!!
Just my thought.
bruham.You have to feel sorry for the plumber.They have one of the most dangerous trades of all household tradesmen.
The sparks(electrician)will wire up his work to the first copper pipe he sets his sights on.(He uses the plumbing as earthing).
If you poor plumber isn’t “awake”- zap!!!! He’s dead.Just my thoughts.
bruham.Derek,
Thankyou for your effort in copying the report.
I don’t read the Australian newspaper so I missed that article.I down loaded it for future reference.
A pleasure reading it.
Again, thanks.bruham.
hrm,
It saddens me to hear of people who take up the challenge to create a financial future for themselves, only to fall on their bottoms.
They think they’re going down the right path, doing the right thing.As they read in Jan Somer’s and Steve McKnight’s books. But no.Their financial situation becomes too much due to any number of reasons.
How depressing having to face that situation.
I feel depressed for them.bruham. [glum2][glum][glum2][glum][glum2]
gpsnetwork,
Sorry the brain went back to one of your old posts that you wrote about selling all your brisbane properties.Saying now is the time to get out.
Assuming that you have properties in the state of Victoria, that’s where you work.
Are you flogging them off as well.You being one of our website proffessial property people.
just thinking aloud,that’s all.bruham.
Ausprop,
A month ago I checked out house prices in Perth(used to be called FLYSVILLE. You couldn’t go anywhere without a million flys on your face and back).
What I could not believe was the house prices for Nollamara. A bloody housing commission suburb.
You people must be joking. You’re trying to get back at Sydneysiders for selling you lot the Harbour Bridge. You people thought it was “for real”.
If there’s any inflation going around, it’s caused by Sand Gropers selling houses for higher prices than Melbourne.
A backward outpost being dearer than Melboune.No come to think of it who would want to buy in Melbourne anyway.
again, just my thoughts.
bruham.Ausprop just checked your home page of your website. Saw Bentley the suburb.Years ago if you didn’t carry a gun you weren’t safe in that suburb.
The girls used to beat up the blokes.GP,
Seeing you have a finger on the rental pulse.
When did you last increase your rents?
I’m thinking of increasing the rents in October.
Am I being too quick?Roy H. if you’re selling all your Brisbane properties, what would you do with your Melbourne investments?
Visiongirl, There’s no such thing as any property being average in Sydney.Home units are climbing towards the million dollar mark.
So for you, do this!!! Buy a 1.5 million dollar property. Renovate for another mill. then sell.
Price three million plus dollars. It’s still happening in the right spots.bruham.
GR,
That extra 2% rental increase might cost you your tenant.
Could you have future tenants queuing up for your abode?
S.McK. says, your investment is in your tenant, not the property.(Doesn’t sound right to me.Not after spending four hundred thou. on a rental).As I drive around Sydney, my attention is drawn to all those commercial office buildings with large signs attached to them advertising FOR LEASE.They are every where.Almost every building is displaying a lease sign.
They’re in the suburbs as well. North Sydney, St Leonards etc.Next sighting that I’ve noticed is,so many cars with FOR SALE signs stuck on the windows.
Most are near new or well looked after type vehicles. Possibly a sign of the times.
Cash flow dollars tightening up!!!You’re right gmp454 the reserve will do nothing.
All the talk will be with the newspapers.I believe the economy will tighten up quite a bit going into next year and beyond.
No chance of inflation raising it’s head.Just my thoughts.
bruham.Nazzy,
You sound like you know what you’re doing.
After all, that’s all that matters.
Best of luck, and go for it hard and fast.bruham.
