7% is a recommended rate from most of the State real estate bodies. Unless there is something exceptional, 9% seems high.

James

7% is a recommended rate from most of the State real estate bodies. Unless there is something exceptional, 9% seems high.

James

Rumour has it that they were in the South Melbourne McDonalds…Oh sorry, that was Elvis!

James

On the contrary, I do have compassion for those people who only had their own and family’s best interests at heart. Unfortunately they did not have a network of family/friends which questioned, probed and debated what they were doing.

James

Kay,
I think you may be too generous to those people..calling what they did as a strategy…Many I believe were novices who probably always wanted to get into property, were attracted to the promise of a quick fortune, and romanced by a very good salesman.

James

My only point was that a depreciating currency tends to suggest lower buying power relative to the rest of the world. Sometimes as a response to relatively higher inflation, reducing the worth of the local cuerrncy.

The extreme example was Argentina in the 80’s, where inflation wsas rampant and the currency worthless. So having a million pesos…[Read more]

Not directly…but I am still waiting for the sky to fall in!

James

Well, I have another one for you……..

Think of a number between 1 & 10.

Double it….

Add it to itself…..

Choose the corresponding number in the alphabet….
ie 26 = Z 1= A

Think of a country beginning with that letter….

With the second letter of that country, choose an animal starting with that…[Read more]

I agree with you Neil. Of course, if we were discussing this 18 months ago, that $1.32m, would have been closer to $2m

James

Mel,

Given such a relatively short period of time since you purchased the property, if I was in your position (and of course I am not, nor do I know of your circumstances, however…), i would be reluctant to sell as a result of all selling costs and then buying costs associated with next IP, for the ultimate result of having still, only 1 IP.

I…[Read more]

Peter,
Just a comment on a couple saving $50k for a deposit as you mentioned. If you assume that property doubles every 10 years on average, then they are still $25k short after 5 years.

James

Ginamarree, thanks. Have you used them personally?

James

YES

James

Pisces,
I ordered the valuation. After seeing comps and getting agent valuations in the area, I thought it wise to confirm those with a SW. Thought if I had this, it would add to the evidence I plan to present at the time of settlement. However, the SW was not from the bank’s valuer.

James

Corrine,
If you do a search on ‘wild wealthy women’ on this site, you will see plenty of discussion regarding the program.

You might have just missed the last one, which was only a few days ago.

James

Native Metal,
Much of the country have experienced property price increases at above long term growth rates. There are many opinions as to what is going to happen next. However, like most investments, property investment must for the long term. Like the sharemarket crash of 1987, any long term graph shows that this was a small reduction in the…[Read more]

Damon,
Given that your broker earns his money through ‘selling’ managed investment schemes & shares etc, he sees a nice little earner from the proceeds of your IP. If he has advice to give, pay him for his time. Not a commission based on his advice to put you into shares.

James

Tax depreciation schedules are provided by quantity surveyors. You are entitled to tax deductions up to 40 years on various items, with regard to building & depreciation allowances. For example, things like dishwashers, cabinetry, carpet, window furnishings, air-conditioning units etc. I have recently undertaken this for one of my IP and this…[Read more]

Thanks Shushar.

James

A good working relationship with a PM is as good as investment as great tenants and good sales agent contacts. Give the current people the flick and find someone, who will give you the information, insight for future purchases. Know your longer term vision with regard to IP and let them know. All PM’s and sales agents in my experience respond…[Read more]