Forum Replies Created
Hello Kenzhang How ah ya gonin?[
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When I first came to Australia (from The Netherlands) I had a lot of problems with the language, too, even though I’d learned English at Highschool. But you learn that formal “Queen’s” English at school, from a tape, which is kind of useless since no-one talks like that in real life (oh yeh apart from the queen)- where they pronounce every word properly[] and even though I thought my English was OK when I arrived in ustralia, I couldn’t understand my own, very Aussie neighbours because of their accent. Just guessed when to say yes or no and nod and smile at the right times []while thinking, What the… are they talking about??? If you’d ask, they’d just start shouting, very funny[]
But you’ll be getting used to it very soon. It’s very exciting to learn new things in a new country, and Australia is a lovely country with helpful people. [^]
I also had to un-learn things e.g. in Australia you cannot use the equity in your PPOR to renovate it and then write off the interest, like you can with an investment property.[] []
You’ll be making a lot of progress once you start mixing a lot with the Aussies, I’m sure. Just focus on the good things and the advice of buying maps is a great idea![^]
I still think my English vocabulary is quite mediocre compared to Australians’ vocabulary, may be I need to read the dictionary and use new words, something I did in the beginning but stopped (laziness).Good luck to you!
I am certainly no expert (as everybody knows by now[
]) but I thought may be, since you only need 7K for each townhouse’s improvement, could you not just take the equity out of just one of the townhouses instead of touching both of them (saving you establishment fees etc)?
And then, after the improvements, your value probably will have gone up so you’ll have more equity.
Next you could also take this equity out of the other townhouse if you need it.
I hope this makes sense[] ?Thanks people, I know now for next time![
] I like the idea of having to use only 1 key for all locks.[^]
Regards CeliviaYES Rachel I’m interested in more info, too. I sent you an email, so would love to hear from you.
[] Celivia
[email protected]I’m not sure if the ING interest rate will increase exactly in line with the reserve bank increases. But the ING interest rate has been 4.75% for a long time until last week when it was increased to 5%. Personally I would have thought they would have increased it a bit more, say to 5.25% like Citibank.[
]I don’t have, don’t want, and never had a credit card in my life.[
]I have the St George’s multi-access card, so I can still use the credit facility when taking money out or buying something (through VISA), and I can only spend what I have available in my bankaccount.[
]It works very well for me, because I don’t like spending money if I don’t have it. (Apart for loans for investments I wouldn’t want debt).[xx(]
I agree Mortman, I don’t think you can get rich on the CG from these units!
Income growth is the only thing that they promise you can expect.I wonder if in the near future with all the baby boomers growing older, it would be easier to borrow for these units as there would be much more demand.
On the other hand, there only may be demand if the govt keeps paying the rent, but I’m not really sure if I would trust the govt to keep handing out these pensions and subsidy for another 20+ years to more and more pensioners. One day (soon?) the pension might disappear and rental payments will have to be made out of people’s superannuation, I suppose.
It’s a very high rent they’d have to pay for such a small unit (they’re under 35 m2 as far as I know), incl all the fees such as management fees, not sure if this will work for people who have an low or even average superannuation income.
Gee I’m not sure about a lot of things, aren’t I. Anyway, the future will tell!I never thought I’d say this, but may be it’s a blessing the lenders didn’t want to lend me for those units! If they all find them too risky, may be they are.[xx(]
Anyway I have since found out that people on this forum are getting a much better returns on their IPs than you could possibly get from these units.
[] I think it was only 7% or so of net return (correct me if I’m wrong).Thanks SIS I’ll look into this.[
]Great links, Peter, thanks. [
]I liked the article about project risk management, esp the little matrix, I’ll try it out soon!
Regards, CeliviaQuote from SIS: A good course i suggest you learn is “Risk Management”.
Hi SIS
From what you and Peter P say about this course, I’d be interested in doing it, but there’s nothing about a Risk Management course in the NSW TAFE handbook (2004).[?]
May be I just can’t find it, or they’re not including this course anymore. Shame![]
Was the acutual title of the course “risk management”?THanks SIS[
]Hi Lawry, do you mean the units you see advertised as Two for One? They usually sell for under $200K per 2 under one title? Which ones are you after? I looked into buying units from SunnyCove, also looked at the ELders ones.
I’d recommend to have an independent valuation done, because the valuation they provided was quite a bit higher than the valuation I had done.
I have been trying to get a loan for these, but lenders are very cautious to lend against them.
I couldn’t get a loan I was satisfied with, so I let it go. Most lenders refuse to lend for these units, unless you want to offer another security like your PPOR
I think most people buying these units must be paying for them out of a LOC or offer another security.The returns were not bad, but the success of the investment relies a lot on the expertise of the management.
Yes depreciation is very good something like $8K or 9K the first year.The thing that I didn’t like was that somewhere in the contract it said that you can expect growth in your annual income as the CPI increases. But it also stated that the management fees increase by 3% every year, or in line with the CPI, which ever is the highest. Not sure if I like this fact.
I thought management fees were pretty high.If you want more details about the SunnyCOve ones, I still kept the info so feel free to email me and I can look things up for you.
cvanzal@bigponddotcomdotau
Regards CeliviaProp, was sonst Sie auf Holländer ausgenommen Potverdomme sagen kann?
Thanks Mini this babelfish site is lots of fun!!! I added it to my favourites under Education[
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Ha ha nobody knows what I said, except may be prop?Potverdomme Prop is saying this allowed on the forum? Otherwise we’re in trouble.
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] and even though I thought my English was OK when I arrived in ustralia, I couldn’t understand my own, very Aussie neighbours because of their accent. Just guessed when to say yes or no and nod and smile at the right times [
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