Forum Replies Created
PropertyGuRu,
Now’s your chance to be brave,grab you’re deposits and charge off to Redfern on a buying splurge.
Would you be interested? Now that “the plan” has been announced.It could be the time to buy.
There are parts of Redfern I wanted to snap up two years ago, but nothing came of it.
I still like the idea of owning Redfern property.
But not near the BLOCK. Plus away from GREEN SQ.
That is an ugly sight.
There are some top streets hidden in that suburb.bruham. [withstupid]
G’day Michael Whyte,
I don’t want to be a pain in the ARSE,but can you
please explain to me how you live FANTASTIC, on $45k gross a year?
My bum is hanging out of my pants,living on $80k a year.
I also own a property in North Narrabeen.Belongs to my superannuation fund.Yours cost $650k, mine cost $36k. Damn and blast!!!!!!!
And you’re into managed funds as well! Do you realize that being in a managed fund makes you the last one in the chain to be paid.Everyone has their hands in your pockets,right up to their elbows,and you cop what’s left,if there is anything left.
Big mistake touching managed funds. Only losers
get involved with them.
Just a thought.bruham. [withstupid]
G’day Yack,
I don’t know how you can call it “spreading the risk” when you’re talking about four backwater properties.
I would imagine it’s the other way around.
Hunters Hill,you would have no problems renting to quality tenants.No riff raff can afford to rent within miles of the place.
All your renters would be show ponies. All show,top earnings,no money in the bank.
As one investment author put it “big hat no cattle”.
I’ve done almost the same thing. Sold all my units.Held onto my North Curl Curl dual occ.
In three and a bit years all the same average type houses have been demolished.Now, there stands two story lastest design homes.
Nearly the whole street has(is) been rebuilt.
Except mine and a few others.
My return on the two rentals is 6.9%.
From the cost of $790K to well over a million dollars. That will do me!
As for renovating, you seem to think it’s only the backwater dumps that apply to renovating.
If you watch Channel Nines (I do,I’m addicted)
Donald Trump’s Apprentice Show.He spends multi millions on renovating high quality properties.
Then on selling them for multi-multi millions.
For a BOOFHEAD he’s a very smart man.THECREST has it right! The more properties you have the more problems you have.Specially if your tenants are renting your backwater properties and are,naturally, on the dole
No employment in backwater.
Biggest industry is the dole office.
Two months behind in the rent. “Gee can’t a man have a couple of drinks at his favourite pub every afo,without you (the land lord) bitching about your flaming back rent”
Just my thought.bruham. [withstupid]
G’day Richmond,
Sorry super sensitive Richmond. I didn’t realize you’re now a news man.But.You have to admit to the hype of those current affair shows.”You”lot trying to out do the other”mob”.If I’m home in time for these type programmes(compulsory viewing),I watch the best story on what ever programme going.I flick all the time.This way I see only what I want to see.
As for the news.It’s usually channel nine that is watched.bruham.[withstupid]
WayneL,
You’re right. I’ve put my money,at the moment, into share trading.
Because I’ve purchased my dual occ.three years ago, my rental returns are 6.9%.
To buy a rental today,for todays returns,would be heart breaking.
I sold all my other rentals two years ago. Just when everyone started to whinge about property being too expensive. Prices have too drop,doom and gloom etc.
Bloody newspaper talk and current affairs type shows(Richmond)put the boot in.They’re to blame.[baaa]MiniMogul,
What’s the matter,poor Mini.Are you feeling poorly?[sick3] Love life not going well?
I’ve being trying to get under your skin for years. Without success.Now out of the “blue” you vent your spleen. You hate people who buy neg. geared,capital gains property.
Well,I am one of those”types of people”.
When I bought at North Curl Curl,in Quirk street, all the houses were average single story homes.
Most were wetherboard in fair condition.
My place cost $790K, and one of the few dual occs.
in the street.
Today ninety percent of these houses have been
bulldozed,being rebuilt as two story, brand new well over the million dollar properties.
As you can see sweet Mini, capital growth works for me.
When I first looked at buying property,you being just a twinkle in your daddy’s eye,
I thought the last place on earth you would buy property, would be in mining towns.All mines run dry eventually!!!
Next worst place would be in small country towns.Where the land costs two bob(twenty cents) an square mile.The locals wet themselves laughing at these dopes buying at over inflated prices.
Mini, isn’t this you?
Regards, hope you’re better now.bruham.[withstupid]
Scremin,
People use credit cards because they’re broke.
They know as well as you, and everyone else, the implications of credit cards. They are not stupid.
If you’re dead broke and something goes wrong or breaks down that has too be remedied immediately the only alternative is the credit card.
This has happen to me on occasions.But you pay them off at the first opportunity.
Now Scremin, you can get off your high horse.bruham.[withstupid]
Pickworth,
I can’t agree with you or Richmond. If you earn nothing,then that’s what you have.NOTHING.
You must generate a decent wage to afford to live.
No decent wage,no good things in life.
The best investment you have is your JOB.If you can’t live on your wage,then you’re history!
Trying NOT to Waste your wage is the trick!
This is why you must have a comprehensive budget.
Stick to your budget and you should then know where you’re going,up,down or out the door backwards.
Just a thought!bruham. [withstupid]
Scremin,
Thirty years ago you couldn’t go from Yokine to the beach in fifteen minutes.You must have an aeroplane parked in your Morley back yard.
As a once resident of MT Yokine there was no chance of achieving that time.
Any new express ways(or fly ways) built in the last ten years?
Morley,in those days,with the first suburban shopping centre complex in Perth was a rough suburb.Bet it hasn’t changed any!!!!bruham.[withstupid]
Twilight,
For years I’ve been with CGU insurance.They have changed ownership recently. I don’t know if they’re any good. Never made a claim. Until you make a claim you can’t tell the good,bad or ugly insurance companies.bruham.[withstupid]
On the northern Beaches of Sydney, house prices have definately dropped.Some mates of mine who are selling, can’t attract people even to inspect their houses.Buyers are just not interested.
When one did receive an offer, the offer was ridiculously low. Claims he would rather burn the bloody thing to the ground before selling at that offered price.
I’m sill waiting for the market to bottom out. I believe it still has a way to go.bruham. [withstupid]
I was one of many who built the Exmouth(US)Communication Base in the north of West Aussie, with besser blocks.
The place was built to be atomic bomb proof.And it was!
Double row of besser blocks,reinforced steel and filled with concrete.Concrete roofs.Triple glazed windows.
We made a building error,so we had too cut a hole in one of the walls.I still have hightmares over that repair job.Almost as bad as knocking down a wall in the confessinal at St Marys Catheral in North Sydney.Those catholics must have had some ripper confessions.The wall was two metres thick.
Anyway, back to besser blocks. I built my swimming pool in besser blocks.After it was cement rendered, you would never know.Plus it will last for ever.No steel involved so no rust problems.The Rolls Royce of pools.
Sulo, if you think the cost of cement rendering the house is worth it,go for it.It will definately increase the value and the house is near bomb proof.
bruham. [withstupid]Domo,
You must have been up all night doing your research on that list. Well done.
You impressed me so much, that I down loaded a copy for myself.
Thankyou.bruham.[withstupid]
Yack,
That’s the first laugh I’ve had all day.
Not only a sense of humour but quick with it as well.
I must admit that this website does become a bit stuffy from time to time.
Nothing beats a good laugh.bruham.[withstupid]
Tools,
My PM receives the rent in the middle of the month, I receive it on the first of every month.
Less,of course,his fees.
Timtam and Thecrest are right.bruham.[withstupid]
I sold my three units just over a year ago.
Reason. Everyone was on about the pending property bubble bursting.If there’s too much talk about any one subject,then, people will talk the situation into happening.Over supply of units, rents will fall,prices of units going to crash etc. Doom on top of gloom.
The only investment property I have is a dual occ. I very pleased to have it.
My new strategy is to “procure” more dual occ’s.
Not just yet. Waiting to see if things do slow down even more than at the moment.
Deep down inside of me I think I’m really a pessimist at heart.That breaks my heart!!bruham[wacko][withstupid]
Daryl,
There’s quiet a few property portfolio management
software options out there.
Me, I prefer Somersoft’s PIA (Property Investment Analysis) software.
It’s part of the Jan Somers website.
http://www.somersoft.com.au
Go and have a demostration, then you can decide
what’s what.bruham.[wacko][withstupid]
FW,
The girls at work all wear thongs, Not one of them, wear them on their feet!!!!
Just my thought!!!bruham.[wacko] [withstupid]
If you don’t believe Monopoly,just ask Paul Keating. He stuffed up by being the one to knock neg.gearing on the head.Didn’t last long before his about face.
bruham.[wacko] [withstupid]
Derek,
I’ve done the same as you, but in the last two years I’ve become a firm believer in budgeting.
Everything I now do has to be in some form of a budget.My life has become so simple due to having budgets.
My business budget, taxi driving budget,job budget,and household living budget. All through keeping budgets.
By keeping budgets I’ve eliminated the need for credit cards,etc.All bills are paid on,or before time.
I have two investment loans, and one LOC loan.
Plus a business loan(at this moment I’m running eight taxis,soon to be ten cars).
The LOC loan isn’t all that it’s cracked up to be.
Higher interest rate.It could get out of hand if your not carefull.I have too think hard before I withdraw from my LOC loan.It could be there for ever,in the red.bruham.[wacko][withstupid]
Maximus,
You’re right, I did put one “o” too many.
$1,500,000 is in cash earnings(after tax),year after year.
This figure is my absolute minimum amount I’ll expect to live on.
Remembering that you must keep investing until you die.That is you save at least 10% of your interest earnings to re-invest.Keeps you ahead of inflation etc.
How you earn your base amount doesn’t matter.
Property or shares etc.Just as long as your earnings earns more money than you need to live on.bruham
bbruham
Change websites, so no need to have two BBs anymore.[rolleyesanim]
