C@34,

Great thread….here’s my contribution ;

Q: When does a person decide to become an engineer?
A: When he realizes he doesn’t have the charisma to be an undertaker.

Q: What do engineers use for birth control?
A: Their personalities.

Q: How can you tell an extroverted engineer?
A: When he talks to you, he looks at your shoes instead of his…[Read more]

Marc1,

This may seem harsh but I’d say both, and go one further and add bad investment to the mix !!

Stories like this simply strengthen our resolve to stay away from RIP’s, where you are constantly having to endure and economically be forced to wade into the very messy quagmire of other people’s private lives. We consider OPPL’s (bad thing) to…[Read more]

Tip 1 : Chat to as many older people as you can about their property experiences. Try and find one with a decent memory for figures…

Tip 2 : Try and learn as much from people who are a little further down the investing track than what you are right now. Someone miles in front is probably of little value to you as their techniques will be…[Read more]

A) By definition w.r.t your intent you have failed.

Q) If you were forced to give up either all of your property assets or all of your property knowledge, which do you think you would be able to acquire back more swiftly ??

Cheers,

Dazzling

“Go hard or go home”

Debtdogg,

Checkout Mr Raams’ offer in ratherBfishin’s thread, he offers short term finance on extremely attractive terms as long as you don’t value your legs too highly….LOL

Cheers,

Dazzling

“Go hard or go home”

The above comments from Baloo / aussierogue and Don & Liz all confirm our research over the past 2 years and underpin our fundamental change in property investing philosophy.

Unlike Landlords who consider the “operation” just business, residential tenants take the rent issue very personally and will go to great lengths to avoid having to pay an…[Read more]

Stuey,

I suppose because they constantly let me know what they can do…however they don’t seem to be able to compete with my banker.

Terryw very kindly answered an enquiry this morning, and he admitted his best rate was at least 0.5% higher than what I just locked in….I don’t know your industry as well as you guys, but it appears brokers…[Read more]

Jason,

Yep, my Lender takes Settlement price or Valuer’s latest price – whichever is the lower…sneaking up the equity levels makes great seminar material but in reality the Lenders aren’t that stupid…it’d be their extra money being put at risk and they aren’t into that…

In terms of attending seminars – never been to one myself…perhaps…[Read more]

Lady24,

From my perspective I’d avoid buying 50 houses like the plague. Too many hassles and costs for you and your husband. If your end goal, as stated, is to receive $ 80K p.a. (I’m assuming in todays dollars). I’d be heading for only one property – not 50. Try this;

Commercial property;

Purchase price $ 900 K
Deposit $ 270 K…[Read more]

Cheers Jenny,

I’m sorry I can’t afford an opinion on finance brokers as I have only used one once in my life, over ten years ago now, and didn’t have a very good experience.

Vowed never to use one again and since then things have looked on the up and up.

I’ve discovered through a good relationship with my banker that the rates now offered to me…[Read more]

TurboB,

As mentioned in a previous but similar thread, I wouldn’t touch boarding houses and / or student accomodation with a barge pole.

Far greater opportunities out there.

Hope everything goes well for you if you do proceed however.

Padma…how much value do you place on your and your husbands time ?? I factored a lowly $ 20 / hour into my…[Read more]

Jenny1,

A commercial laundry just sold near me for $200K, only difference was it was renting at $ 400 per week and the tenant paid all the outgoings.

My advice would of been to dump what you were looking at and chase the far better deals on offer…I was going to suggest the broker did you a favour by stalling your application…but…

Good…[Read more]

Excellent post Marc1;

I concur with most of your points. Comes down to attitude and not being influenced by the wet nursed PM’s, who in general may know something about managing individual properties, but have precious little experience in managing wealth from a personal standpoint.

Residential renters have it all over Landlords in this…[Read more]

Hi eeshole,

I’m with the Commonwealth Bank.

Have no idea if the rate is available to the general public.

Cheers,

Dazzling

“Go hard or go home”

Zippys,

Locked in less than two weeks ago on a commercial financing deal.

Fixed for 5 years at 7.17%. Loan is a tad bigger than your amount though…scale effects – don’t know ??

It was 6.85% when we exchanged contracts with the Seller, and during the settlement process went up by 0.32%…not happy…

I’m told by my lender the rates have not…[Read more]

Waffles,

Have you read the lease in full yet ??

Don’t understand how the rent can float between 25K and 27K, is it dependent on something ??

Who pays the 4K outgoings ?? If it’s the owner I’d walk away.

25K – 4K ~ 6.77% nett
27K – 4K ~ 7.42% nett

If it’s the tenant, I’d still walk away…

25K ~ 8.06% nett
27K ~ 8.71% nett

There are way…[Read more]

Phil,

I think what Kerry Packer said was “You only get an Alan Bond come along once in your life” – referring to the buyback of his beloved Channel Nine Sydney and Melbourne for around 300MM after flogging it off to Bondy for 1050MM a few years earlier.

As for props coming off the boil, Perth, like Adelaide as Carlin refers to, is not…[Read more]

Woodsman,

I’ve asked the same question to the Principal of the largest QS organisation in Australia. His response was thus;

“Our highly qualified surveyors assess that during the site visit and we then feed that data into our proprietary model here. The output to the model is what you see in your report.”

Being totally unsatisfied with his…[Read more]

Sharon,

For the non-residential stuff – yes absolutely – have already done so and locked in further increases for subsequent years.

For the residental stuff – forget it – check out Baloo’s comment above…very realistic and the very reason we now shy away from the stuff…they simply will not pay and are happy to ‘up stumps’, knowing that there…[Read more]

Jan,

Thanks for the suggestion about Simsmetals. It’s something that was tossed around a few weeks ago as a very neat solution to the problem. On initial enquiry Simsmetal said for that amount of weight and the location they were prepared to come and pick it up themselves (the yard is literally around the corner from one of their depots).

We…[Read more]