Forum Replies Created
basing investing on historical returns for funds is like using todays evening weather summary in place of tomorrows forcast.
IT BEARS ABSOLUTELY NO CORRELATION
managed funds HAVE done well recently due to the sharemarket boom.
this does NOT mean they will return 20% or more over the next 12 months. Ye gods! thats like saying in mid 2003 :
"property has returned 40% over the last year so Im gonna put all my money there"
its just as smart as buying managed funds now.
managed funds had NEGATIVE RETURNS in 2002 & 2003 as I recall.
sounds very dicey. if I was in another unit I would object. there are noise issues, fire issues, access issues……..wouldnt waste your time if i were you.
and there lies your problem. lenders think your excessive spending will continue. Until you have a savings record they will assume you are living beyond your means and that you could never afford the loan repayments…..
try to get together 20% deposit…..it will make things much easier…..and reduce the limits on your credit cards, maybe cut a few up.
$280k p.a income and only $20k in cash?
definately something missing…….
with that kind of income you shouldnt need a mortgage
shares are a piece of a business. to say that the majority of businesses are less attractive than owning an IP is illogical and baseless. many shares wipe the floor with property…..
well there are white dots on the poo ends so it looks like geckos are the culprit. seems unusual they would eat fruit tho……..
thanks a million(s)
buying mistints is a false economy. usually the paint is an expensive brand, and even at half price there is another brand cheaper. put the wrong colours in a house and buyers will knock off 10x whatever you thought you were saving. only exception is textured paints that can have another color painted over them.
spraygun & compressor – paint needs to be diluted 20-30% which means you need a few coats, and its very easy to get runs. its also much slower than airless.
sometimes with all the masking / cleanup its better to use a roller.
all sprayers consume far more paint than roller / brush so its more about saving time than money.
I posted in another thread about the misconception about reno equity.
also, living in a reno has good & bad points. you often spend hours cleaning up so its liveable, but you can wake up @ 7am and be workin by 7.30. I also like being there cos tools & materials are sometimes not secure.
Brad
you either revalue OR sell. not both. its only if you revalue to use the EQUITY that the bank will withhold some. If you sell and the loan is paid out (transfer of security is far cheaper) then you get all of it.
Im a professional renovator, and I wish it was as easy as "should I hold or sell"
Most people dont know this, but when you renovate a property and have it revalued, you have to use some of the gained equity to cover the LVR. If your property goes up by $100k, and you have a 20% deposit (ie 80% LVR) then $20k of the $100k gained equity is withheld by the bank. That means you have access to only $80k, and if you spent $50k on the reno that can be a real problem. You need enough money to cover the deposit on a new house, plus reno costs, plus legals & stamp duty etc……..
for us, we found it impossible to keep any of our reno properties so far. also, there seems to be no such thing as bridging finance for LO DOC loans.
so despite the fact we have now $200k equity, we cant keep a property. maybe on reno #3 that will change. re realise this means we lose $15k in agents fees etc each time we sell. but its better to lose $15k so you can make $80k on the next project……..
plaster the outside? maybe that would make sense if the inside was a swimming pool……
in a drought the ground moves and cracks appear in blocks. this allows water in. if you have plaster, it soaks up water like a sponge. fibro adds protection against both water and visible cracks.
I had besser blocks plastered & it was a nightmare. water penetrates & cracking occurs. My advice is to glue fibro to the blocks then do whatever. It will be quicker, cheaper & better.
this is sad news. I often wonder how many forum members slip away without us knowing.
after reading this thread Ive been woken up to the possibility of a family member in a suicidal state.
I have been through severe depression a few years back & its not pleasant. Its very difficult to share your feelings with family / friends, and we should all be on the constant lookout for the slightest warning sign.
from what I can see Deception Bay has already moved. maybe someone with RPDATA can post some stats?
Im doing a reno on a house in Redcliffe, paid $250k in December, just revalued @ $390k
Been trying to find another house around the 250k mark but they get snapped up before they are listed on the net. Ive given my details to 14 agents for properties under 300k & have had no contact.
In the last few weeks there have been heaps of people cruising my street looking for “for sale” signs.
Redcliffes boom has a lot to do with the promoting of the area in Brisbane TV ads. But, this area is still real cheap for what you get. Where else in Australia can you buy 400m from the water & 20 mins from CBD for 300k?
Ive wasted many a day at auctions trying to pickup “bargains”
by the time you allow for buyers fees, credit card fees, delivery, petrol, time off work etc……..its actually cheaper to buy from Bunnings.
And for gods sake, if you are going to bid at auction, dont be an idiot like most I see. They will have 50 items available and these clowns will bid over each other trying to win. You dont even need to bid! Shut ya mouth and the price will end up cheaper, then put ya hand up when they ask “who wants one?”
http://www.posigear.8k.com
Positive Geared Share Investingso let me get this straight.
your mother inherits a $1m property. you wont share, and wont split the $$$ cos that would be a “downgrade big time”. yet, you are quite happy to move your mother into a “small unit”. are you really that greedy and selfish? seems like you are ripping off your own mother!!! and you want our help to fleece her? oh by the way, its CHRISTMAS……..the time for giving!!! (not taking)
you are renting, yet not only do you have no money to your name, but have 50k debt to boot. reality check!!! beggars cant be choosers! downgrading from $1m house to $700k, oh you poor thing, lets cry you a river.
what would I do?
well I would ask my mother if she would allow me to live with her in HER $1m house. If no, then tough biccies.
http://www.posigear.8k.com
Positive Geared Share Investingsmall fee…..if you call 1.25% small……..thats $125…….an option yes, but not a cheap one
http://www.posigear.8k.com
Positive Geared Share InvestingBunnings sells new doors for about $20 ea. Is it worth the hassle? Once you buy the primer & paint, youve paid for 4 doors already. Then consider the time wasted sanding & painting. And believe me you wont be happy with the first, second or even 3rd attempt. I did mine 8x.
http://www.posigear.8k.com
Positive Geared Share Investing
