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  • Profile photo of god_of_moneygod_of_money
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    November 3, 2008 - 5:54 pm

    Low Doc and No Doc loans should be wiped off from the market. They are causing lots of problems. It will remove speculators and spruikers from the market. At least not more " doubling price in 7-10 years" and using low doc/no doc to lure the 'unsuspecting' buyers.

    I surprise that FirstMac still alive??

    Profile photo of god_of_moneygod_of_money
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    November 2, 2008 - 6:25 am

    But after taking into inflation it will be BIG NEGATIVE GROWTH. Excluding holding cost.

    Profile photo of god_of_moneygod_of_money
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    November 2, 2008 - 6:24 am

    Between 2003-2008.. Property in Sydney experienced BIG 0% growth :)

    Profile photo of god_of_moneygod_of_money
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    November 2, 2008 - 6:17 am

    The management fee is probably 25%. Check with them regarding the management fee. You can't assume that you will get nett weekly of A$ 440.00. It is the trap by the leasor.

    Service apartment has the history of low resale value and low growth.

    Profile photo of god_of_moneygod_of_money
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    November 1, 2008 - 1:29 am

    Thanks for your honest comment dparkes..

    I think company like Park Trent or IF etc.. will have some limit life span. Their mortgage backing finances are virtually near collapse or R.I.P. There is not such a cheap credit any more… Obviously banks will only lend 70-80% and LMI will also consider dodgy development.. Dust will settle in the next 1-2 years…. Long Life Investment property…

    'Property value will double every 7 years'…just a memories in the past.

    With Department of Trading, I don't think they bother as they are toothless and useless…..

    Profile photo of god_of_moneygod_of_money
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    November 1, 2008 - 1:23 am

    Certainly I can feel it in Sydney's market.. as small developers are trying hard to offload their excess equity…
    Love to see mortgagee in sale.. Well… time to punish the spruikers and their associates…

    I think the falling in property price especially high rise development.. will have some delay ie. 12 months after financial crisis.
    Good to sit back with CA$H and watch… plus cherry pick if necessary

    Profile photo of god_of_moneygod_of_money
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    October 30, 2008 - 1:32 am

    Too expensive… they charge like 300-400 dollars for simple stuff

    Profile photo of god_of_moneygod_of_money
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    October 30, 2008 - 1:30 am

    Richard, thanks for your input.

    What is the upper limit before land tax come in at NSW if  purchasing property through DFT?

    Profile photo of god_of_moneygod_of_money
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    October 29, 2008 - 8:01 am

    Do you have to pay land tax on DFT? is there any upper limit prior to paying tax?

    I met Mr. Chan in the property expo and he was trying to explain to me about HDT… I thought that it is very complex and complicated.. and the costs ARE very expensive…

    Profile photo of god_of_moneygod_of_money
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    October 28, 2008 - 11:04 am

    Well, it must be gross return of 7%…
    with management fee 25%, lease cost fee 10%, linen fee et…. probably the return close to 3-4%

    When you want to sell it…. you probably looking at 10-20% below the market value… as it is hard to sell as no investor would like to buy…

    AVOID at all COST

    Profile photo of god_of_moneygod_of_money
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    October 27, 2008 - 9:15 am

    Hei dino… hate to say.. but your website looks ridiculously useless
    another spruiker from hell

    Profile photo of god_of_moneygod_of_money
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    October 27, 2008 - 8:22 am

    wowww richard…. seems like you are flooding with your post…

    ANZ simplicity 7.62%.. does it include offset account? is that include 0.25% off recently?

    What make u think that we can't re-structure with OneDirect?

    Thanks

    Profile photo of god_of_moneygod_of_money
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    October 26, 2008 - 3:36 am

    The chances are you have to drop the price to meet the demand… if the unit on the top floor sold for 350k.. Well I guess that you have to drop it to match A$350k (at the most)….
    I hate to say that.. despite falling interest.. but it is still very difficult to sell….only agents that told you about bull market when interest falls. Our CPI > 5% and economic growth is sluggish with unemployment rate is heading towards 9%…AND of course we HAVE LABOUR goverment… which make it worst.

    Profile photo of god_of_moneygod_of_money
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    October 25, 2008 - 6:49 am

    Wel, it is clearly that 'moderator' of this website has DIRECT or INDIRECT interest/link wit the Park Trent Group.
    They are just too afraid to disclose their interest….. :)

    "…..PropertyInvesting.com in danger of legal action."… Well I can guarantee you that I haven't heard any Supreme court case that the blog is being sued… unless some one can point it to me….

    Moderator… the word 'defamation'… has to be carefully used and intrepreted…

    Profile photo of god_of_moneygod_of_money
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    October 25, 2008 - 6:05 am

    Well… this is typical bear market perception….. go back to 2003.. majority people were advised to BUY BUY BUY BUY because property growth DOUBLING every 7-10 years….well towards the end of 2008…. the market has fallen dramatically and none of broker/adviser would advise to BUY BUY BUY stating that it may fall further 20% or 30%???? You never be able to catch the bottom of the market nor selling the top of the market…

    Well this is just a human perception or greediness…. would like to see in 2010… when look backwards…just IF I bought shares/property in 2008… ehhehehe??

    Profile photo of god_of_moneygod_of_money
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    October 24, 2008 - 9:19 am

    You should lock in Term deposit few months ago with Bank West interest was 8.5%

    Profile photo of god_of_moneygod_of_money
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    October 24, 2008 - 4:06 am

    Yeupp.. use solicitor or property lawyers mike… conveyancer?? you will be better do it yourself…
    I know is more expensive but… you pay for what you receive.

    Profile photo of god_of_moneygod_of_money
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    October 24, 2008 - 3:55 am

    Wizard or GE money just about to open their own graveyard.
    Where is Mark Bouris, Aussie John etc… who always talk rubbish… !!! But they made billions from poor borrowers (being persuaded to borrow from their 'competitive' rate)

    Profile photo of god_of_moneygod_of_money
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    October 24, 2008 - 3:52 am

    just declared bankrupt.. and go to receivers…
    I am more concerned on borrowers from GE money or wizard !!!!!!

    Profile photo of god_of_moneygod_of_money
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    October 23, 2008 - 6:38 am

    Thanks for sharing the info with us…..

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