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  • Profile photo of crashycrashy
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    @crashy
    Join Date: 2003
    Post Count: 736

    Ive used the white knight stuff before. Its more a question of your preperation & painting skills than whether the product is good or not.
    It seems fairly hard wearing, but if you have spare paint its easy to fix anyway. Dont think I would put it on a counter tho.

    http://www.posigear.8k.com
    Positive Geared Share Investing

    Profile photo of crashycrashy
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    @crashy
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    Post Count: 736
    Originally posted by simple:

    why would you buy IP if market is flat or growing anywhere under 1.5% ??

    the hope is that in the future, mortgage repayments will be the same, but rent will have increased with inflation.

    eg: bought house 30 years ago for $50k. mortgage for next 30 years = $50/wk
    30 yrs ago, rent was $50
    20 years ago, rent was $100
    10 years ago, rent was $200
    today, rent is $400…..but mortgage is still $50/wk, so thats positive cashflow of $350/wk

    If you put $12.5k (25% deposit on $50k house) in the bank 30 years ago, it would still only be paying $15 a week in interest

    http://www.posigear.8k.com
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    Profile photo of crashycrashy
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    @crashy
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    Ive been told my bathroom looks like it cost $20k…….thats great, cos it only cost me about $2k.

    I bought a nice modern vanity from the auctions for $220
    I bought a 5 rail towel rail from a plumbing store carpark sale for $30, retail was $220
    I bought a massage shower from the auctions for $800
    I bought a square toilet from the auctions for $250
    I bought a huge storage cabinet from the auctions for $170
    I bought nice marble look tiles from the auctions for $10/m
    I bought a plastic bath from bunnings for $135
    I bought a real nice bath spout from Mitre 10, retail was $570, but there was a scratch on the underside so I offered $170, they took it.

    We installed & tiled it all ourselves, took a week. Tiled right to the top of the walls.

    Ive been to peoples houses & theyve told me they had a company do it all & spent $15k…..and honestly they are nothing flash.

    If you have an ounce of skill, give it a go.

    http://www.posigear.8k.com
    Positive Geared Share Investing

    Profile photo of crashycrashy
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    @crashy
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    Post Count: 736

    thats fine with me, in 10yrs time the house I bought will be on the water front!

    http://www.posigear.8k.com
    Positive Geared Share Investing

    Profile photo of crashycrashy
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    @crashy
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    ummm

    splitting hairs here, but…….50% more?

    I think you mean tax on the other 50%……big difference

    http://www.posigear.8k.com
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    Profile photo of crashycrashy
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    @crashy
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    Ive had similar responses lately. Put in offers & flat no without counter-offer. I find it rude. If they are not prepared to negotiate I walk away. If they were smart they would counter offer $1k below asking price.

    http://www.posigear.8k.com
    Positive Geared Share Investing

    Profile photo of crashycrashy
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    @crashy
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    a few stats:

    Suburb; Median:

    Redcliffe 266k
    Clontarf 304k
    Woody Pt 380k
    Scarborough 323k
    Margate 265k
    Kippa-ring 260k
    Rothwell 344k

    http://www.posigear.8k.com
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    Profile photo of crashycrashy
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    @crashy
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    Australia has:

    1. capital gains tax
    2. stamp duty
    3. high agent commissions
    4. land tax
    5. expensive tradesmen
    6. low rental yields
    7. breathing tax [biggrin]

    http://www.posigear.8k.com
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    Profile photo of crashycrashy
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    @crashy
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    no not transfer of security

    just plain old deposit aka downpayment

    ie

    I sell house A with broker A. buyer A gives $10k deposit which broker A holds in trust.

    I buy house B with agent B. can I transfer deposit A to deposit B?

    http://www.posigear.8k.com
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    Profile photo of crashycrashy
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    @crashy
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    oops, that was to L.A Aussie, not andy

    http://www.posigear.8k.com
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    Profile photo of crashycrashy
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    @crashy
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    sorry andy, you are mistaken. I agree a lot of shows DONT show the true costs, but this one does.

    I watch it religiously. It is my bible.

    Its a business model that does not work in Oz. Thats why Im moving to NZ.

    http://www.posigear.8k.com
    Positive Geared Share Investing

    Profile photo of crashycrashy
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    @crashy
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    We interviewed 12 new brokers before finding one who was enthusiastic and realistic about getting the house sold. He actually specialises in selling stale listings!

    And DONT pay more than $500 for marketing EVER

    http://www.posigear.8k.com
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    Profile photo of crashycrashy
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    @crashy
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    Hi bessie

    I have just been through a similar experience.

    We used LJ Hooker In Sunnybank QLD. The agent we hired we really liked, but he quit 2 weeks into our overseas trip when the house was on the market. The house was handed over to an incompetant rookie with no desire to sell. As a result the house was on the market for 2 months, with 2 offers, one $75k below bank valuation, the other $175k below.

    We changed brokers & he sold it within 24 hours for $61k above the highest previous offer.

    The old agent tried to get $2k out of me for marketing & I told him to stick it. As I found out, it is illegal to overcharge for marketing, or charge a fee for services which are not justified. My ads in the local paper costed $170, yet LJH were charging $220ea. In the contract, it stated that advertising would be paid at settlement. Since they never acheived that, they cannot ask for payment. Also, the contract stated that they would advertise on 3 websites & show ads in open homes, plus have window cards in 3 branches. They did not do this and therefore I can claim for breach of contract. I may also be able to sue as there has been a tort of negligence.

    http://www.posigear.8k.com
    Positive Geared Share Investing

    Profile photo of crashycrashy
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    @crashy
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    why would you leave a country with positive cashflow property, no land tax, no capital gains tax, no stamp duty, high depreciation, cheap tradesmen……..to come to a country with heaps of taxes and no +ve cashflow property & expensive tradesmen?

    http://www.posigear.8k.com
    Positive Geared Share Investing

    Profile photo of crashycrashy
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    @crashy
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    when you trade foreign exchange, you are basicly margin lending, like shares. Or you could think of it as 98% LVR.

    2% margin means if you do a $100,000 trade, the capital required is $2,000 (2k x 50 = 100k)

    http://www.posigear.8k.com
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    Profile photo of crashycrashy
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    @crashy
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    thanks Richard

    but….

    the buyer chose CSM & I had to chose another.

    went with ownit in Beenleigh (best price, anyone know if they are good/bad?)

    I did find CSM wasnt cheapest by the way :)

    http://www.posigear.8k.com
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    Profile photo of crashycrashy
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    @crashy
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    Ive explained this before in other threads.

    You buy a currency pair with a high income and low interest payments….

    eg:

    AUD rate = 6.25%
    JPY rate = 0%

    borrow JPY & buy AUD with it = 6.25% profit
    on 2% margin you can leverage it 50x

    = 312% p.a

    you are effectively borrowing Japanese funds @ 0% interest, and investing the funds in Australia @ 6.25%

    ka-ching

    http://www.posigear.8k.com
    Positive Geared Share Investing

    Profile photo of crashycrashy
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    @crashy
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    buy a currency pair which pays 6% interest, then leverage it 50x with margin

    http://www.posigear.8k.com
    Positive Geared Share Investing

    Profile photo of crashycrashy
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    @crashy
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    About 9 months ago I was contacted by this mob. They offered a “free” service and I thought what the hell…….I was nearly finished with my reno and wanted to refinance anyway.

    I am a qualified advisor and it soon became clear they were offering financial products and advice without a licence. The salesman didnt know what to say when I said I wanted to pay off my loan as slowly as possible. He wanted more than $3k for his “monitoring service” which he verbally said was for life but in the contract fineprint it states 6 months only. Why you would need monitoring at all is beyond me.

    The rate they offered me was not that impressive, so I contacted a Mortgage Choice broker named Caroline Jean Baptiste…….who did a much better deal for free and had impeccable service.

    http://www.posigear.8k.com
    Positive Geared Share Investing

    Profile photo of crashycrashy
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    @crashy
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    the thread was deleted as grossrealisation violated numerous ASIC laws.

    Basicly he was looking for investors to give him $5m so he could set up an illegal fund investing in forex.

    This guy is a joke.

    http://www.posigear.8k.com
    Positive Geared Share Investing

Viewing 20 posts - 381 through 400 (of 664 total)