Hi KT,

To secure 100% loan you need to stump up some equity.

If you don’t have any equity, you need to stump up a deposit.

You have to give the Lender something to lean on. I’m sure you wouldn’t lend your money to someone who showed you they had nothing behind them…it wouldn’t give you a warm fuzzy feeling.

Why not knuckle down and save for…[Read more]

It does not take long to hit the LVR and DSR wall; unless you have a job that pays zillions. Unfortunately most people are not in this category; a couple of properties will see them finished.

I think if you purchase a fairly substantial property or three, it will knock your ability to borrow further funds no matter what your pay level is.

If…[Read more]

Why is Australia being lumped in with “the world’s richest nations”. ??

The world’s richest nations are typically invited to the G-8 summit.

We’d still be on the outside, with our face up against the pane of glass trying to look in during a gathering of the G-30.

If we just stopped pretending that we are a “player” on the world’s stage and, as…[Read more]

Hi Ian,

Being reasonably familiar with the exact wording of these, I’d suggest you don’t want to subject yourself and your property to one of those.

I think you can pick them up for about 50c from most newsagents, but they certainly aren’t worth anywhere near that price.

You guys are all very lucky indeed.

Anything at all would be fantastic compared to last Xmas. That was endured high up on the rocky steppes of the Yemeni peninsula, with two chaps (a Qatari and a Mongolian) who didn’t speak English and didn’t care, or indeed know that it was Xmas day. Admittedly I don’t speak good Arabic or Mongoli and I don’t…[Read more]

I agree. No land…no deal.

Unfortunately John I am a “money poor but time rich” type investor…i.e. I’ve got plenty of time to analyse and scrutinise all deals down to the gnats hair. What I don’t have is bags of money to hand over.

Howzabout you pass on all of the details of the deals to me, and then if I’m interested, I’ll contact the REA myself.

I’m a big boy, you…[Read more]

Oil Search shares are also going gangbusters at the moment and I have recently been up to check on progress of new oil fields there is certainly a lot of activity up there asscoaited with energy and mineral developments but the country is still very risky. I actually looked into property up there in Port Morseby but didn’t take it far although…[Read more]

Hi deb,

OK, alarm bells are now starting to ring very loudly for me at this stage.

I don’t want to seem like a wet blanket, but a property like the one you are looking at is usually split up into three separate components.

1. Land value
2. Improvements value
3. Lease value

Given that the 25 yr old sheds are worth about $ 500 in total, what…[Read more]

What’s the dirt worth as a %age of the 350K ??

What is the Lessee’s future intent ??

Could you successfully Lease it again quickly if needed ??

Ps Dazz how did you find your mentor

Our group bought some of his industrial holdings off him. We got down to some heavy face to face negotiations. During that he said he wished his son was as interested in ‘the business’ as I seemed to be. In his words he said he liked the “cut of my jib”. It went from there I suppose. His grandson is 18…[Read more]

are we becoming more and more Americanised or what!!!!

I thought that was a US way to describe…

did I miss something

Wooo doggy…y’all sure did honeybunch.

Xenia, I work with and are surrounded by the good Yankee folk 24/7…right from the get go I knew thangs were different for all these southern belles.

Unfortunately, Australian modern…[Read more]

Good on ya Harry – gave me a laugh. [biggrin]

Pretty true but isn’t it… [jealous]

A couple of off the cuff comments;

Hey Redwing…we’ve been down this path before, but if one can’t get access to a Sat West, what to do ??…the data is great, every time it comes out, I’m able to go on my shopping expedition. Data comes out, LVR’s come down, Dazzling goes shopping…woohoo.

hb – absolutely, we’ll dig and drill the bejesus out…[Read more]

I’d love Kerry Packers house, but I cant afford it…

I’m not surprised Redwing, ol’ Frank apparently bought the abode in Bellevue Hill for 7,500 pounds back in 1937. I’d say it’s appreciated somewhat in the last 68 years.

Sorry Vyvyen…way off topic I know.

Hi Deb and Brad,

V.O. stands for variable outgoings. These are as you have listed them, CR / WR / LT / Ins etc.

Most competent agents quote the nett rent figures. I’d be surprised if the $36K rent quoted is gross rental. That would be quite mis-leading. (As was quoted in that other thread…the vendor there was trying to do some dodgy lease…[Read more]

Going in and playing hardball (I call lopping a 1/4 of a mill off fairly hardball…your offer is less than 85% of asking price) is very difficult when you are both caught up with the “dream”.

If I was the vendor I would have simply screwed the offer up and thrown it straight in the bin, not even bothering to call the agent. Just out of…[Read more]

Prakman number look to be right, not run the calcutator over them but I’ll take them as right.

Dunno grossy…I hope you run the calculator over your own deals a bit more thoroughly than that ??

Prakman has stated up the top the $ 250 K IP is renting for $ 400 p.w., and then proceeds to use a figure of $ 200 p.w. in the calculations ????

With…[Read more]

Or the greatest white wash of an excuse for a neglected building…”Selling just above block value”.

These are perfect for all REA’s…any problems highlighted, they shrug their shoulders and say “Hey you are getting it for block value.” all the while smiling ‘cos the asking price is 140K more than block value… [blink]

Shelley,

This is yet another of a myriad of examples where your residential tenant has simply squiggled on the bottom of the Lease, grabbed the keys and moved in.

They are in your house and literally free to do as they please. Your PM who sits in an office a couple of miles away and is accessible only during business hours cannot hope to…[Read more]