Forum Replies Created
Hi all,
I love that article! How can we increase its circulation – just untill I have my twenty or thirty IPs, promise!I guess we who are privi to the info on this, and other such sites, could laugh at the expense of others. the more they rent the easier it will be for us! Not very charitable, though. Is it?!
I can’t change every-ones ideas and can’t help every-one out of their troubles, but I’ll do what I can to help those that I get in contact with – if THEY want to. Our baby sitter asked me what she should do – I tolde her about the 70/30% principle (from The Richest Man in Babylon) and after 6 months she has nearly enough to buy a new car outright! I mentioned that that wasn’t a good investment, but blablabla. It is her choice. But she knows how to do it now, and I think she will continue with it as she is excited about her success.
In the mean time, I hope (and will work towards) more investments – yes houses and maybe some shares in the future too. We see.
“You can’t teach an old dog new tricks – because he isn’t interested enought to work for them”
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonHi you two,
no this no longer the “norm”! When Steve wrote his book it applied and helped a lot of people make quick decisions.Try doing a search on past forums and t=you’ll find that this has been discussed by many, long and hard.
Not to worry, there are planty of other ideas out there to make properties worth while! Read, learn adn then ask more pointed qestions that relate specifically to your situation!
Hope that helped some.
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonSorry GR,
I am not familiar with the ‘Margin Scheme’ you’ve mentioned – I have not done any developing as yet.Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonHi all,
quick update:
PPOR Value came in at a disapointing $220K (something about the Garden not finished – we pointed this out and said part of the funds are to finish the Garden….).
This pushes to LVR up to 88.64% costing LMI of $266.64 (think I can live with that, esp. since ANZ will capitalise this).
Total cost of refinance and stamp duty ~$461 (+ obviously the LMI).
Ohh, and the variable interest rate is now 6.72%, down from 6.77%. So, once I pry the statements for my CBA personal Loan out of the hands of the CBA, I’ll be away! [cowboy2]
Still feeling good!
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonHAV11C,
Got a coin? Both Dazzling and GR have valid points! Realistically you need to do the maths on both options to see wich way to go.
For me personally I would like to keep the PPOR and possibly turn it into an IP – don’t know if that is possible.
One thing that WILL help is getting your job back, for now. Get the dollars flowing again….
I am glad that we listened right at the beginning and bought a cheaper house rather than comitting ourselves to a top of the range home. My friends, down in Perth did this and he has to go away (FIFO) just to allow them to keep up with the mortgage. She has stoped working to stay at home with their first child – and their situation is compounding!
Sell if you can’t –
* get your job back (or other suitable employment)to cope with the financial drain
* refinance to make use of your equity to by another cheaper place to make your PPORThese are my thoughts – I was trying to tie the two other sugestions together (taking a liberty).
What ever your decision, plans change all the time (mine did). It took us 3 years (after attending my first seminar) to buy our first house, the second one is just about done and that only took 12 to 14 months.
Do talk to a Mortgage Broker, though and see what they can suggest to suit “your specific situation” before you make any final decision.
Hope this helped some……
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonFunny how Marriage is based on a Christian Principle, yet most people claim not to be Christian.
Funny how they shoot down Steve McK for his opening quote on his second book ~ something about ramming his beliefs down our throats, etc (not exact quote!), yet when things go down the toilet “the Courts” are to blame forthe decisions they come up with.
Lots of irony here!
If my wife leaves me (God willing that’ll never happen!) and she is awarded or ‘takes’ everything
– haven’t we learned how to rebuild it from scratch!?– wouldn’t you know how to do it faster this time around – seeing as you aren’t learning the basics!?
Just pondering the issue – bring it on!
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonHehehehehe….
Still grinning!……..
Feel like I’m a kid again!…….
[grin]
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonHehehe. Hi All,
just got word from the ANZ bank that, even though I can’t have 6.72% (my lending is less than the required $250K, @ $195K) I can have 6.77%.So they met me half way! Better than a slap in the face – aye!
As you can tell I’m happy about that! So I got the Breakaway Package, save ~$600 in Stamp duty (because I stayed with the ANZ), have no application fees for either loan (I’m doing a split loan – deductible and non-deductible), have 6.65% fixed for 3yrs for the deductible loan, 6.77% variable for the non-deductible loan, but the annual fee of $295. I do get the 100% off-set with that and (Unfortunately) a G O L D credit card, who-flippin-hoo. Lets see what happens to them in the microwave…….[evilgrin]
Plan so far is to stay with the package until I get finance for the rest of the IP (I have only put up the deposit so far) and once safely out of the “Your left the Package too early so we need to charge you extra fees” zone I can still get out of the package and then pay only the monthly fees!
That was awesome fun! [biggrin] I can’t wait to do it again!
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonThanx Redwing,
that’s kind of what I thought. It would be better in a cooling market to go annually, I would think! Your thoughts?Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonRedwing,
that raises an interesting point – how often do you revalue your properties?
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonHi,
Thanx to Steve’s and others advice, I have spent the last week going thru the drills of finding finance, comparing CBA, ANZ with St George and it is quite amazing that no two answers are the same.
Thank you Steve for not pushing “your” barrow and guiding me (so that I’d be a pain in some-one elses neck Hehehehe) but it has been interesting and frustration at the same time. Being a little borrower (< $250K) I don’t qualify for much, so feeling like a chiwahua with big fangs and nothing to loose I went the hole hog! Asking for no fees lower interest rates, ‘stretching the truth’ a little to get the banks motivated by saying things like “… my Mortgage broker has told me he/she can get me this percentage. What can you do…” an just sitting back and letting them explain to me why I can’t have this or that. And in true infant style, I keep asking “…but why?”. It is almost fun! Too bad my finalisation date is comming up, because I could do this for a lot longer I recon! Hehehe.
So, one of the things I have found out is: – if choosing the ‘Breakaway Package’ in conjunction with the above mentioned off-set account with the ANZ, there are no fees on that account, even for withdrawals, sorry Steve. I have had the Bank Lender underline the passage for me;ANZ pro benefits pack has a $10 monthly fee for the 100% offset.I don’t know how that applies to the Pro Benefits Pack though!
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonWhere can I find such a hand book that extolls the rights of a tennant?
If I know their rights I’d be better prepared and not walk into a trap that’ll be very costly!
We used to rent a house (before we bought) where the A/C was a joke and we asked and asked to have it repaired and later replaced. Nothing! REA said owner wont budge. So we moved out! The next tennant, who we met at my sisters party (funnily enough) told us that they informed the REA that they will live rent free until the A/C is replaced as it is (I think they said this) ‘Inhumane to expect them to live in these conditions – Fibro home, virtually no insulation with 50+ degrees in summer. Not good – well, with the A/C the temp was reduced to a balmy 49 degrees!
Any-one?
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonDazz,
it is a Hyundai! Zippy little unit; we got spoilers, mags and the whole fruit because we did’t think about investing then! I don’t think I’ll ever buy a new car again (until I’m flush with Rubels, that is). The initial loss is just too great! One of the guys I consider one of my Mentors (we don’t converse that often anymore – but I can still hear his voice in the back of my head…) buys second hand Mercedes (his preference) and when he trades them in he gets almost what he paid for them! He does have a lot of $$$$$$ and that always helps.My turn will surely come!
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonHi all,
In Hedland (yes my wonderful Town of residence atm) there are a lot of Fibro/Asbestos houses. Particularly in Port Hedland (our Town is plit into two Port & South)the trend here has been to re-clad the outside with Colorbond (as mentioned in a prior post on this thread). Inside walls are then resheated with plasterboards (to cover the old existing and potentials asbestos walls) and made to look ‘seemless’, as in the new style housing. It is by far the cheaper option here in Hedland (3×1 Broome style home $240K, 4×2 ~$340k). they then give the appearacne of being a new Broome style home and fetch more dineros! It also reduces the cost of the reno as Asbestos removal is quite expensive (prohibitive in Hedland).
Sorry but can’t find a easily transferable picture atm. Some look very nice!Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonBig Dazz,
are you having a go???? Although I have to wait a while before I turn 40 (and earning a lot of money).Perhaps the thing about the car being a males extension……. is true! Perhaps I need to trade in my Accent for something more Beefy?!!! Hehehehe – or get a sex change – nah. Been made the way I am – it aint much but it’s all I got! [blush2]
Hey Dazz, I must agree on the Statistics thingy though. We actually tested that theory and it worked – we had to spend some time in spinning the right angle but it worked!
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonIt’ll certainly make your car go a little faster, hehehehehe. The good old days![bike2] [helmet] [wreck]
Ethanol, garden variety can be made at home (not recomended – cause it has a nasty habit of blowing up or igniting stuff). the blending of it making petrol more expensive? Yeah, probably, but then we would be charged more if they put in tap water!
Technology out there is so vast and extensive that ethanol mixing is just one of many ideas! In Nullagine (I think) there are a couple of old (as in retired) Engineers that run an old V8 Valiant on one litre of petrol for a week! they add super-heated steam to the fuel mix. The car runs smoother, cleaner, better and needs less servicing and mechanical repairs. that is why Ford and Holden are begging these guys to sell them the idea – because they love us and want us to have the very best that technology can provide! [cap]
Air cars, water cars, etc will all fade into the sunset. Sad really!
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonHi all,
I think you’ll find that Shwing is correct. Credit Cards are an account like an overdraft and as such behave very similar. If in credit you earn interest, miserably little as it is but interest non-the-less.
Any amount over the limit is yours to do with as you please – no interest incurred, service fees, however, do apply and are bank specific.
As soon as yuo draw on your credit (ie: using the CC credit amount – like in a loan) you incurr interest! Credit Cards calculate interest every day wether you have interest free days or not – the interest may not be applied to your account as long as you pay before the end of your interest free days.
So, …
Yes your bank will likely charge you the nominal fee related to a cash advance, say $2.
If you say withdraw $2500 ,they will charge you intrest from date of the dithdrawal interest at 16% on the $500 new credit balance.
If you withdraw $1900. your only cost will be the $2 advance fee. This will depend on the bank though.… applies at all times!
Hope that nails it.
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonHi C2,
I used to think the same as you (or as you have just stated) – until I was shown a number of reports that showed (from memory) that percentually (if that is a word) the accidents in 4WD are nastier and the passengers are more likely to have more serious injury than those in pedestrian cars. Blew my socks of, – something to do with the drivers attitude! “I drive a 4WD and so I am safer and can do more …. speeding…..more rough driving……. more things in the rain …..” etc – you get the point. I’m by no means saying that you or all 4WD do this, but proportionately there is evidence of higher risks being taken by owners of 4WDs.Food for thought!
Most of the 4WD around where I live are Diesel (like yours) but they are geared for actual “off-road-driving”. By that I mean they aren’t geared up to accellerate quickly or hugg the road better. Quite the opposite, they have raised chassies and bigger wheels to cope with some of the rough Off-road terain so you don’t want to be screeching from 0-100 in under 10 seconds!
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonHi seaqueen,
For me personally – I was a bit put off by the building date! It reeks of old and mould.
And I don’t like it when some-one tries to hurry me up! the more you push, the more I push back. So the:
We have had a lot of interest in this property since I advertised it 2 weeks ago and it’s seriously possible this offer will not be here tomorrow! So be really quick on this – I need it sold.doesn’t put me in the right frame of mind either. Every-one knows that the vendor would rather sell today than tomorrow and doesn’t always need to be pointed out. If you need to fill the space then highlight more features.
Sorry – you asked……
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas EdisonThe pharmacist at the hospital I currently work at will love this!
Keep up the good work big R
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas Edison
