Forum Replies Created
Hi Jewel,
I think the amount of deposit show’s your integrity and seriousness in wanting the purchase. Everyone’s situation and attitude for purchasing is different. If it was me ‘at the present moment in my circumstances’ and I really wanted to purchase this property I would be looking at putting down a ‘20% deposit’ (assuming one has these funds to do so) to ensure to the vendor that I am genuinely serious about purchasing and to avoid LMI as well) and would add in on the contract a few caveats ‘to my benefit’ on the purchase to ensure the deal to make the vendor appreciate how ‘serious’ I am compared to other prospective purchasers on the property/deal. It would put the vendor more on the back foot.
Regards,
Gatsby.“Sometimes the hardest thing to do in life is often the best thing to do.”
For myself (and I definitely wouldn’t call myself ‘sophisticated’ in investing!) I know that if I had put my first deposit that I managed to save into a PPOR I wouldn’t be in a postion to have invested in IP’s and continue to invest. The question for myself (and perhaps others in similar circumstances) was my lifestyle. To gain the deposit from starting from scratch with huge debt, I virtually worked so much that I didn’t have time looking back to spend it on lifestyle expenditure. I would always ask myself, ‘Do I WANT IT or do I NEED it?’ Being such a subjective question I was prepared to fore go consumer/lifestyle expenses that other of my peers were lashing out on. Also at the time of saving, it was having a double wammy effect. Instead of going out ‘on the town’ and blowing $x amount of dollars (which I have done to death before), I was actually saving this amount by being stuck at work and earning the amount probably equal to what I would have spent as well. I’m not recommending anyone to live a ‘Spartan/Pritiken diet lifestyle’, for myself, I just kept focusing at the time on what I wanted to achieve in the longer term. I realize their are a multitude of sophisticated and more fast tracking ways of to build up a deposit. My work at the time however supplied accomodation so I used this to my advantage and still think if I can rent cheaply and if it’s in line with my goal then ‘for me’ it makes sense. I guess people can only answer the question of such an approach themselves, depending on their own personal circumstances and what they are prepared to sacrifice and what works best (including investing strategies) to achieve that goal.
Cheers,
Gatsby.“Sometimes the hardest thing to do in life is often the best thing to do.”
Hi CoopsT,
I have Landlords insurance with CGU and my policy is due for renewal very soon. It only covers rental vacancy if the premises are untentable, so no it doesn’t cover rental vacancy.
Hope this helps.
Cheers,
Gatsby.
[“Sometimes the hardest thing to do in life is often the best thing to do”]No worries babu,
good luck with your research.
Cheers,
Gatsby.Hi GoldCoastGirl,
I’ve always rented from being a student until today. I spent a considerable amount of time backpacking o/s and when I came back to OZ in 97 I found choosing to rent back here, cheap by comparison to surviving on a backpacker’s budget (and admittedly the sacrifices that came with it!). After travelling o/s, I realized that renting cheaply by lowering my means far out weighed the costs that would have set me back in property investing if I had chosen to buy my own home. I guess it’s a personal choice when it comes down to it, but if purchasing IP’s is one’s main goal, then the savings you can make by renting (no rates, maintenance, long term PPOR loan, etc) will pay off in the long run if you can manage to delay immediate gratification for long term gain. One thing I said on this forum once (and I think it was a post about ‘talking to friends about IP’s?) and I was refering to friends of mine was this. “People borrow money they don’t have, to buy things they don’t need, to impress people they don’t even like!”
Cheers,
Gatsby.Hi GoldCoastGirl,
My post was not meant to be personally against your post or a personal attack on all who view tv (or watch Big Brother, etc). I don’t watch commercial tv. The point I was trying to illustrate is that I wouldn’t want people to also ‘not watch tv’ by my post either, but to be aware in making their own decision in response to my post. My personal view is that commercial tv has it’s own agenda (so I’m glad you have raised ‘your’ opinion). I’m also very health conscious re: what I put into my body/exercise/working out and I’m just stating that for me, tv ‘sells’ this (info adds, how to look, what to buy, etc) and that it runs counter productive to people making there own decisions (no middle man/woman required). My post/s was/are to highlight the fact that for some, tv can be an excuse, not a reason not to take responsibility for living a healthy life. I take your point that it can serve as a time out/background drop to relax to. It’s not Bigbrother et al, I’m refering to. I’m just stating that for me, I don’t need the media to think for me. I do take your point that watching tv is entertaining as is reading a book. The thing I find though about reading for myself is that it allows me to actively engage with the author who wrote the work in my own interpetation, not necessarly via persons selling it. I do take your point though and agree. For me though I relax by actively engaging in a novel/Indy movie, etc. I just wanted to note how ‘passive’ it can be (including myself) to ‘let tv do all the work’. Apologies if you found my post personally directed.
Kind regards,
Gatsby.I think it may run the risk of being ‘too close to the bone.’ My sister has worked in real estate for almost 18 years. This comment in no way is implied to others in the industry, however all she has experienced is the same 9-5 grind (and grief) that all workers may face in any other industry. Also, perhaps echoing Dazzlings comments, being that close to the source may or may not overide it’s advantages.
Cheers,
Gatsby.If people enjoy ‘reality tv’ (kind of a contradiction in terms really???) I think that it’s great. However personally for me, watching tv is like getting a bucket of paint and putting black paint over my eyeballs. To me, I’d put tv at about a year 9 level. “I think channel 10 shares my beliefs!” “I think channel 7’s beliefs are more to my liking!”
Hey wait a minute, there’s one corporation holding up both channels? “SHUT UP! GO BACK TO BED EVERYONE, YOUR MEDIA IS IN CONTROL! HERE’S ‘LOVE CONNECTION’, WATCH THIS AND GET FAT AND STUPID! (By the way, keep drinking beer you morons! – ‘WOW, did the media just say that to me???’
Cheers,
Gatsby!xxx,
excellent expose’ you’ve posted including a lot more information than the general public may not have been aware about (re: Corby’s case). Perhaps (?), more in reference to the issue here is drugs, per se and evolving an idea towards understanding that may result?
a) Why is the drug Tsar of this country or any other country (actually lets go back!)
Why do we have a drug Tsar in countries?
b) Why is it a law maker/judge?
c) Why isn’t it a person/s who’s had a drug and/or alcohol addiction and overcome it and why doesn’t he/she/they help people ‘overcome’ it with ‘COMPASSION’, rather than ‘CONDEMNATION?’
d) Why do we put people who are on drugs in jail? They are sick. Sick people don’t get healed in jail? See it makes no sense and if we evolved the idea then the planet might become more ‘compassionate’ and something like ‘understanding’ might dawn?
Cheers,
Gatsby.Hi first timer,
I would agree with Duckster by using an offset account to reduce your interest on the loan. I think you would be wise to shop around with mortgage brokers. I would also agree with The Mortgage Advisor. You could do far worse than emailing Mobile Mortgage for advice on your situation.
Regards,
Gatsby.Hi babu,
I live in Forest Hill, not too far from Glen Waverley. I would suggest doing a search on both suburbs you’ve mentioned. Personally, if you can find a good deal for what you want, I would look at Glen Waverely close to The Glen if possible. These are just my thoughts and being a relatively local I remember and still have friends that rent there. I remember a joke when the train line was built, they stopped at Glen Waverely and looked around and thought bugger it and stopped the train line! Seriously though, I think Glen Waverely has more current infrastructure to meet tennants needs if you can buy into there.
Good luck!
regards,
Gatsby.Hi Sonia and welcome to the forum.
I would agree with g7’s advice. It’s a bit like the more you know, the more you realize there is to know. Good luck!
Kind regards,
Gatsby.Rob,
I pressed ‘fast reply’ by mistake. Is that what you mean? (See, I do see a need an Internet Cafe for fast help!) By the way anyone, what is the difference by replying using ‘fast reply vs post new reply?’
Cheers,
Gatsby.Rob,
Another thing a hairdresser friend of mine mentioned to me who was starting up another salon business is that he had a deal posting adds at Back Packer joints in Melbourne for back packers to get a free haircut at his salon. It cost him nothing to put the adds up. He was doing it to train his young staff. Back Packers (myself included!) are far more open to anything free while travelling as time is not a factor, but making your travel buck last is. This may not be in line with your structure but seeing how Back Packers rely now so much on internet Cafes, you may want to consider this approach (and with other needs for Back Packers) as a win-win outcome for your business?
Cheers,
Gatsby.Hi Rob,
This may not apply to the location and clientele. However there are still people around who are internet/PC “challenged.” If you can provide prompt service with staff/training for people who have a basic question (eg how do I?……….). I recall when I didn’t have the internet I would ask the owner of a Cafe a question. By the time it was answered by someone showing me how to simply ‘press a button’ 15 minutes later, my internet time was up! This wouldn’t apply to 95% of your customers obviously. Even now at home I only use a fraction of what my PC can do and if you’re on your own, unless you can have a friend drop around promptly for a few times to show you the ‘ropes’ it can be very frustrating. Many times my elbow has ‘bumped’ a key and I look at the screen and it’s changed, I’m left with ‘ergh,…where to from here?’
Great idea Rob and if it was me I would inject some of your sense of humour into it. I think you’re onto a winner here. Best of luck!
Cheers,
Gatsby.I have my own convictions which mirror those of many Australians about this issue. However I think making ‘someone’ (Tsunami sufferers) an example and scapegoat as a result of our belief is almost a parallel of what I believe resulted in Chappelle’s verdict? After all, it was a round world last time I looked?
Gatsby.I can’t wait to here how they celebrate their first Wedding anniversary! Good story Dazz!
Gatsby.Hi Geo,
I put a post up a few weeks ago about ‘DNA?’ wondering if anyone has had dealings with them. Can you say how your friend was scammed (eg did DNA do a runner, misleading advertising, renegged on a contract, etc?).
Cheers,
Gatsby.Apologies for not attending today’s meeting. My family had a bit of a tragedy last Friday and I was unable to get to Hawthorn on time. If anyone who attended might be able to pm me or post what was generally covered it would be gratefully appreciate it. I hope all went well.
Kind regards,
Gatsby!Hi Wallace and as Redwing said, welcome to the forum. I’m sorry to hear about your accident but elated to hear how you turned your adversity into personal success! Just out of curiosity was Dr A.D. Kessler also known as Ernie Kessler?
Regards,
Gatsby!
