The property was 300k house and land.
After dual occing it, you have your unit to sell at $360k? and house at $300K?

Sounds almost reasonable. I think a lot depends on how they look together, the house and unit. Are they Torvill and Dean together – or Sir Les Patterson and Maria Sharapova ???!

I have found that often the value of a house and…[Read more]

The property was 300k house and land.
After dual occing it, you have your unit to sell at $360k? and house at $300K?

Sounds almost reasonable. I think a lot depends on how they look together, the house and unit. Are they Torvill and Dean together – or Sir Les Patterson and Maria Sharapova ???!

I have found that often the value of a house and…[Read more]

Hello Stephen,
Yes I concur with Dazzling – if you can hang in there with your 5% I am certain you will succeed.
I did not get any direction with investing till I was about 35, and still have enough time to succeed yet.
You have time and persistence on your side.Hang in there.
I sold my blue chip t2 shares 3 years ago at 4.80.
Bought them at the…[Read more]

Hello BS,
I would go and see a good mortgage broker to determine your situation re finance.
But more importantly I would thoroughly research what you wish to buy, and for what purpose.e.g. you may want to buy a ppor before investing, or you may be better to get straight into an investment property.
There are a myriad of diverse factors involved in…[Read more]

I agree DAZZ, surely the people reading this board can sort out the wheat from the chaff in their own minds. Advice is just that ADVICE, it is not compulsory to take the advice.
All should be free to give out advice here, so long as they are not obviously advertising.

Giddo
http://www.standrewsplace.com.au

KNOWLEDGE IS POWER

Munjy, you bet she helps to fertilise the yard! And at home she sits on MY recliner rcker chair.
But she is a good watchdog (while I am home)

Giddo
http://www.standrewsplace.com.au

KNOWLEDGE IS POWER

Thanks Hellman,

Our dachshound could chase theives ok but only if they are in the backyard where she is confined.She is fast for only a v short distance though. Come to think of it, that will not work though. She is brave while I am here, but is v quiet and scared if I am away.
Perhaps she is not cut out to be a watchdog.
Our accomm is not dog…[Read more]

Hello SUDS and all,

I think you are treading dangerous ground when you start to label people “stingy”, “idiots”, or “truly financially successful”.

I can see where you are coming from but I reckon there a just a coupla more factors involved with decisions on cars.

Your idea of “stingy” may be someone elses idea of “smart”. What do you mean…[Read more]

Welcome moony,
I agree that knowing exactly what is meant by “wealthy” is a subjective task – different for each person.
I have never actually sat down and decided exactly what wealthy means for me. however I am willing to have a stab at it now, as it is an interesting topic.

“Wealthy” – having a stream of income of over say $100k p.a. after tax…[Read more]

Appreciate your assistance GROSS,
You are good to help me.
Yes the deal is skinny. Sooo so skinny. I wouldn’t consider it except the land is next to land I own and something beneficial is to happen nearby.
I am looking at what to put on the land – i can put 2×2 b room units or a 3 and a 1 or a two and 2 single bedroom units.
I would keep it all…[Read more]

Thanks Gross,
Appreciate your input.

Cost of land 190k
Build Cost 180k
Value on completion 450k
Int rate 7 %
To Build 15 months

Thanks so much

Giddo
http://www.standrewsplace.com.au

KNOWLEDGE IS POWER

Hi GROSS,

Did you say walk like a JEDI?

I do not know much about Star Wars stuff, but that must be a good thing I am guessing.
I am more likely to walk like a penguin with a sore toe.
I like the idea of using “The Force” though.

Giddo
http://www.standrewsplace.com.au

KNOWLEDGE IS POWER

Hi Gross (hope you don’t mind me using your first name!?! )

Very interesting thread and well worth thinking about. I had always wondered what sort of trouble people my get into with these loans.
Lucky for me I have NOT done any of this so I won’t have to phone my pencil man. I am too honest for my own good sometimes.But I am glad I am this…[Read more]

interesting to note that over half of Oz households do not have a budget or cannot stick to one.
Surely this means a terrific risk of spending more you earn.
I am flabbergasted to see how a lot of people are so blase about this.
Why would anyone WANT TO RISK SPENDING MORE THAN THEY EARN?
This is just stupid and unsustainable (obviously)
A lot of…[Read more]

Are you suggesting some borrowers may be accidently overstating their income?

Maybe these borrowers are hoping to invest successfully and thereby make enough money to repay ATO when caught?

Perhaps an apology would be enough?!?

As a prominent oz cricketer once stated – I am sorry – sorry that I was found…[Read more]

Save on phones with capping. I am with Telstra and have just gone onto $99 plan which covers me for up to $500 worth calls on my landline and one mobile phone.(per Month) Plus rental for landline. No forfeiture if spend is less than $99. Go to Telstra.com they should have details there. This is a fairly new product I…[Read more]

NON refundable deposits??!!

I laugh at the audacity of these people!

I say wave Bye Bye

Giddo
http://www.standrewsplace.com.au

KNOWLEDGE IS POWER

Spot on folks – I like your direct style advice Dazzling –
The only way to go faster and better is to start taking more risks i.e. put yourself in the position to make more $$$.
Looks like you need to sell an IP first perhaps.
It is a pity for all of us that we can’t make more money from a lower risk strategy.
I believe more exposure to risk means…[Read more]

I think you have got to expect 15 to 20 percent nett for any reno. I hasten to add I have only done 2 -(I usually do developments)
Perhapd someone else has a closer idea!??
Giddo

Sounds like you are not doing all that badly financially and okay on the home front as well. This is a very difficult one.
My daughter is now 15 and I know that if I hadn’t made the effort to CONNECT before she had reached about 12 it woulddn’t have happened.To connect before they are teens is absolutely imperative I think.
I sympathise with your…[Read more]